Avior Wealth Management LLC Sells 62,332 Shares of Freeport-McMoRan Inc. $FCX

Key Points

• Avior Wealth Management cut its Freeport-McMoRan stake by 88.9% in the third quarter, selling 62,332 shares and retaining 7,795 shares worth approximately $546,000.
• Institutional investors own 80.77% of FCX, with major firms including State Street, Bank of America, Wellington Management and Amundi increasing their positions.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $76.22; however, insider selling and concerns that the stock’s rally may be losing momentum present potential risks.

Avior Wealth Management LLC decreased its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 88.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,795 shares of the natural resource company's stock after selling 62,332 shares during the period. Avior Wealth Management LLC's holdings in Freeport-McMoRan were worth $546,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FCX. State Street Corp lifted its position in Freeport-McMoRan by 3.6% in the second quarter. State Street Corp now owns 66,485,424 shares of the natural resource company's stock valued at $4,181,268,000 after buying an additional 2,300,416 shares during the last quarter. Bank of America Corp DE boosted its stake in Freeport-McMoRan by 20.0% during the first quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company's stock worth $2,489,069,000 after buying an additional 7,044,775 shares during the period. Wellington Management Group LLP boosted its stake in Freeport-McMoRan by 13.8% during the second quarter. Wellington Management Group LLP now owns 14,918,066 shares of the natural resource company's stock worth $938,197,000 after buying an additional 1,810,698 shares during the period. Amundi boosted its stake in Freeport-McMoRan by 10.5% during the second quarter. Amundi now owns 11,819,898 shares of the natural resource company's stock worth $743,353,000 after buying an additional 1,125,982 shares during the period. Finally, Jupiter Topco LLC purchased a new position in Freeport-McMoRan during the second quarter worth about $739,890,000. Institutional investors and hedge funds own 80.77% of the company's stock.

Wall Street Analysts Forecast Growth

FCX has been the subject of a number of recent analyst reports. BMO Capital Markets lifted their price target on shares of Freeport-McMoRan from $78.00 to $85.00 and gave the company an "outperform" rating in a research report on Tuesday, September 29th. Royal Bank Of Canada upped their price objective on shares of Freeport-McMoRan from $73.00 to $85.00 and gave the stock a "sector perform" rating in a report on Wednesday, September 16th. JPMorgan Chase & Co. increased their price objective on shares of Freeport-McMoRan from $77.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 7th. Citigroup increased their price objective on shares of Freeport-McMoRan from $66.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, October 5th. Finally, Stifel Nicolaus lifted their target price on shares of Freeport-McMoRan from $76.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $76.22.

Key Headlines Impacting Freeport-McMoRan

Here are the key news stories impacting Freeport-McMoRan this week:

• Positive Sentiment: Strong copper-demand outlook: BlackRock World Mining Trust identified FCX as a major holding, citing long-term demand from global electrification, artificial intelligence infrastructure and the broader focus on critical minerals. This reinforces the investment case for Freeport as a major copper supplier. Freeport McMoRan Is A Major Holding In A Mining Trust
• Positive Sentiment: Higher profit forecasts: Scotiabank raised its FY2026 EPS estimate for FCX to $3.35 from $3.06 and its FY2027 forecast to $2.86 from $2.62. Erste Group also increased its FY2027 estimate to $4.32 from $4.00 and maintained a Buy rating, reflecting expectations for strong metal prices and cash generation. Analysts Raise Freeport-McMoRan Earnings Estimates
• Positive Sentiment: Potential earnings beat: FCX is among the copper and precious-metals companies viewed as likely to exceed third-quarter 2026 estimates, helped by elevated metal prices. Copper and Precious Metals Stocks Likely to Beat Q3 Estimates
• Neutral Sentiment: Production broadly on plan: Third-quarter copper and gold output was generally in line with expectations, but some Indonesian gold production shifted into the fourth quarter. That timing change may defer near-term revenue while potentially supporting the next quarter’s results. Freeport-McMoRan After Q3 Production Update
• Neutral Sentiment: Operational and valuation considerations: Coverage of the Grasberg disruption suggests the event could tighten copper supply, but it also highlights operating risk. Meanwhile, analysts question whether FCX’s sizable multiyear rally and roughly $70 share price already reflect optimistic copper and cash-flow assumptions. Does the Grasberg Halt Tighten Copper Supply?
• Negative Sentiment: Recent profit-taking: FCX recently declined more sharply than the broader market, and commentary suggests its rally may be losing momentum, increasing the likelihood of consolidation despite the favorable long-term copper outlook. Freeport-McMoRan Rally Looks Tired

Insider Activity

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 4,773 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $70.00, for a total transaction of $334,110.00. Following the completion of the transaction, the chief accounting officer owned 36,000 shares in the company, valued at $2,520,000. The trade was a 11.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Stephen T. Higgins sold 14,277 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $69.50, for a total transaction of $992,251.50. Following the transaction, the chief accounting officer owned 54,618 shares of the company's stock, valued at $3,795,951. This trade represents a 20.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 110,398 shares of company stock worth $8,387,271 in the last ninety days. 0.73% of the stock is owned by insiders.

Freeport-McMoRan Price Performance

FCX stock opened at $70.00 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 0.92. The firm has a market capitalization of $100.52 billion, a P/E ratio of 34.48, a P/E/G ratio of 0.66 and a beta of 1.39. The business's 50-day moving average is $72.12 and its two-hundred day moving average is $66.60. Freeport-McMoRan Inc. has a 1 year low of $38.54 and a 1 year high of $80.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.12. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%. The business had revenue of $7.03 billion during the quarter, compared to analysts' expectations of $6.62 billion. During the same quarter last year, the business posted $0.54 EPS. The business's quarterly revenue was down 7.3% compared to the same quarter last year. Analysts anticipate that Freeport-McMoRan Inc. will post 2.90 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be issued a $0.0750 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.30 annualized dividend and a yield of 0.4%. Freeport-McMoRan's dividend payout ratio (DPR) is 14.78%.

Freeport-McMoRan Profile

Freeport-McMoRan Inc NYSE: FCX is a leading international mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Copper is its principal product and is used in electrical systems, construction, transportation, renewable energy infrastructure and other industrial applications. The company also produces copper cathodes and concentrates, gold, molybdenum products and certain quantities of silver and other byproducts.

Freeport-McMoRan operates a portfolio of mining and processing assets in North America, South America and Indonesia.

Want to see what other hedge funds are holding FCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freeport-McMoRan Inc. (NYSE:FCX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.