Barings LLC Has $8.41 Million Stock Position in Freeport-McMoRan Inc. $FCX

Key Points

• Barings LLC cut its Freeport-McMoRan stake by 39.1% in the first quarter, selling 91,943 shares and ending with 143,096 shares worth about $8.41 million.
• Wall Street sentiment remains mostly bullish, with several firms raising price targets and analysts maintaining a “Moderate Buy” consensus; the average target sits at $68.77 versus the stock’s recent $58.50 price.
• Freeport-McMoRan recently beat earnings expectations, reporting $0.57 EPS on $6.23 billion in revenue, while also declaring a quarterly dividend of $0.075 per share.

Barings LLC decreased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 39.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,096 shares of the natural resource company's stock after selling 91,943 shares during the period. Barings LLC's holdings in Freeport-McMoRan were worth $8,411,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of FCX. Arrowstreet Capital Limited Partnership raised its holdings in Freeport-McMoRan by 98.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 19,973,108 shares of the natural resource company's stock worth $1,014,434,000 after acquiring an additional 9,924,573 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Freeport-McMoRan by 31.2% in the fourth quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company's stock valued at $1,897,202,000 after buying an additional 8,891,743 shares in the last quarter. Amundi increased its holdings in Freeport-McMoRan by 102.5% during the fourth quarter. Amundi now owns 14,211,579 shares of the natural resource company's stock worth $721,806,000 after buying an additional 7,192,955 shares during the last quarter. PointState Capital LP acquired a new position in Freeport-McMoRan during the fourth quarter worth $198,523,000. Finally, Victory Capital Management Inc. raised its position in Freeport-McMoRan by 28.9% during the fourth quarter. Victory Capital Management Inc. now owns 17,366,596 shares of the natural resource company's stock worth $882,050,000 after acquiring an additional 3,894,872 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Key Headlines Impacting Freeport-McMoRan

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

• Positive Sentiment: Analysts still see FCX as having a favorable setup for its next earnings report, with expectations for earnings growth and a possible beat supported by the company’s operating leverage to copper prices. Article Title
• Positive Sentiment: Morgan Stanley raised its price target on Freeport-McMoRan to $70 from $66, which signals continued confidence in FCX’s long-term copper exposure despite keeping an Equal Weight rating. Article Title
• Neutral Sentiment: Coverage highlighted Freeport-McMoRan’s importance to mining and materials stocks, reinforcing that FCX remains a key bellwether for the sector rather than providing a new company-specific catalyst. Article Title
• Neutral Sentiment: Another article framed FCX as a test case for copper demand, suggesting investors are waiting for clearer signals on industrial demand and commodity pricing before re-rating the stock. Article Title
• Negative Sentiment: The stock declined more than the market in the latest session, reflecting pressure on investor sentiment and likely concerns about copper demand or broader resource-sector weakness. Article Title

Wall Street Analysts Forecast Growth

FCX has been the subject of a number of recent analyst reports. CICC Research cut their price target on shares of Freeport-McMoRan from $64.40 to $63.40 and set an "outperform" rating for the company in a research note on Tuesday, April 28th. Jefferies Financial Group upped their target price on shares of Freeport-McMoRan from $75.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 8th. Wells Fargo & Company cut their target price on shares of Freeport-McMoRan from $77.00 to $68.00 and set an "overweight" rating for the company in a research note on Friday, April 24th. Bank of America lifted their price target on Freeport-McMoRan from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. boosted their price target on Freeport-McMoRan from $73.00 to $77.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $68.77.

Freeport-McMoRan Stock Down 4.0%

Freeport-McMoRan stock opened at $58.50 on Friday. The company's 50-day moving average price is $63.93 and its two-hundred day moving average price is $61.96. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. The stock has a market cap of $84.10 billion, a P/E ratio of 31.12, a P/E/G ratio of 0.61 and a beta of 1.37. Freeport-McMoRan Inc. has a twelve month low of $35.15 and a twelve month high of $72.28.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10. The company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The firm's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share. As a group, analysts expect that Freeport-McMoRan Inc. will post 2.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, July 15th. Freeport-McMoRan's dividend payout ratio (DPR) is currently 15.96%.

Freeport-McMoRan Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.

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