Clal Insurance Enterprises Holdings Ltd Sells 154,858 Shares of Freeport-McMoRan Inc. $FCX

Key Points

• Clal Insurance Enterprises Holdings cut its Freeport-McMoRan stake by 25.2% in the first quarter, selling 154,858 shares and leaving it with 460,142 shares valued at about $27.0 million.
• Several analysts remain upbeat on FCX, with firms like Jefferies, Scotiabank, UBS, and Stifel raising price targets and maintaining buy ratings. The stock currently carries a consensus rating of Moderate Buy.
• Freeport-McMoRan recently beat quarterly expectations, posting $0.57 EPS on $6.23 billion in revenue, and it also announced a quarterly dividend of $0.075 per share payable on August 3.

Clal Insurance Enterprises Holdings Ltd lowered its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 25.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 460,142 shares of the natural resource company's stock after selling 154,858 shares during the period. Clal Insurance Enterprises Holdings Ltd's holdings in Freeport-McMoRan were worth $27,047,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of FCX. Arrowstreet Capital Limited Partnership increased its stake in Freeport-McMoRan by 98.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 19,973,108 shares of the natural resource company's stock worth $1,014,434,000 after purchasing an additional 9,924,573 shares during the period. Franklin Resources Inc. lifted its position in 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 purchasing an additional 8,891,743 shares during the last quarter. Amundi boosted its stake in shares of Freeport-McMoRan by 102.5% during the fourth quarter. Amundi now owns 14,211,579 shares of the natural resource company's stock valued at $721,806,000 after purchasing an additional 7,192,955 shares during the period. PointState Capital LP purchased a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $198,523,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Freeport-McMoRan by 28.9% in 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 purchasing an additional 3,894,872 shares during the last quarter. Institutional investors 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: Stifel Nicolaus raised its price target on Freeport-McMoRan from $76 to $80 and kept a buy rating, signaling confidence in further upside for FCX. Article Link
• Positive Sentiment: Analysts have increased their earnings forecast for FCX’s upcoming quarter to about $0.60 per share, suggesting stronger profitability even though revenue is expected to decline year over year due to cost discipline and operational efficiency. Article Link
• Positive Sentiment: Multiple earnings-preview and sector pieces highlighted FCX as a miner with potential to beat Q2 estimates, helped by stronger commodity prices. Article Link
• Positive Sentiment: Coverage around the global AI data center buildout continues to support the long-term copper demand story, with FCX positioned as a key beneficiary if AI infrastructure spending keeps accelerating. Article Link
• Neutral Sentiment: Recent articles also discussed FCX’s “copper turning point” and its attention in the copper market, but these were more thematic than immediately actionable for the stock. Article Link

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Jefferies Financial Group lifted their target price on shares of Freeport-McMoRan from $75.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. The Goldman Sachs Group dropped their price target on shares of Freeport-McMoRan from $75.00 to $74.00 and set a "buy" rating for the company in a research report on Wednesday, July 8th. Scotiabank raised their price target on shares of Freeport-McMoRan from $67.00 to $77.00 and gave the stock a "sector outperform" rating in a report on Monday, June 15th. UBS Group boosted their price objective on shares of Freeport-McMoRan from $75.00 to $77.00 and gave the company a "buy" rating in a research report on Tuesday, June 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Freeport-McMoRan in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $68.95.

Freeport-McMoRan Price Performance

FCX opened at $62.57 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. Freeport-McMoRan Inc. has a 52-week low of $35.15 and a 52-week high of $72.28. The stock has a market capitalization of $89.94 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 0.59 and a beta of 1.37. The stock's 50 day moving average price is $63.69 and its 200-day moving average price is $62.15.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.10. The company had revenue of $6.23 billion during the quarter, compared to analyst estimates 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 was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 earnings per share. On average, equities research analysts predict that Freeport-McMoRan Inc. will post 2.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be issued a $0.075 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $0.30 annualized dividend and a yield of 0.5%. Freeport-McMoRan's dividend payout ratio is 15.96%.

Freeport-McMoRan Company 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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