Crake Asset Management LLP Has $488.67 Million Stake in Freeport-McMoRan Inc. $FCX

Key Points

• Crake Asset Management increased its stake in Freeport-McMoRan by 5.8% in the fourth quarter, buying 530,000 more shares to bring its holding to 9.62 million shares worth about $488.7 million. The position now represents 19.1% of Crake’s portfolio, making FCX its second-largest holding.
• Freeport-McMoRan reported strong quarterly results, with earnings of $0.57 per share versus expectations of $0.47 and revenue of $6.23 billion, topping estimates. Revenue rose 8.8% year over year, and the company also paid a quarterly dividend of $0.075 per share.
• Analysts remain broadly positive on FCX, with a consensus rating of Moderate Buy and an average price target of $65.72. Recent commentary highlights both support from copper demand themes and a key risk from the slower-than-expected recovery at the Grasberg mine in Indonesia.

Crake Asset Management LLP lifted its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,621,434 shares of the natural resource company's stock after buying an additional 530,000 shares during the period. Freeport-McMoRan comprises 19.1% of Crake Asset Management LLP's portfolio, making the stock its 2nd biggest holding. Crake Asset Management LLP owned approximately 0.67% of Freeport-McMoRan worth $488,673,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FCX. JPL Wealth Management LLC bought a new stake in shares of Freeport-McMoRan in the third quarter valued at about $33,000. Kohmann Bosshard Financial Services LLC acquired a new position in Freeport-McMoRan in the fourth quarter worth about $38,000. Key Financial Inc raised its position in Freeport-McMoRan by 32.3% in the fourth quarter. Key Financial Inc now owns 828 shares of the natural resource company's stock worth $42,000 after purchasing an additional 202 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new position in Freeport-McMoRan in the fourth quarter worth about $43,000. Finally, YANKCOM Partnership raised its position in Freeport-McMoRan by 83.3% in the fourth quarter. YANKCOM Partnership now owns 869 shares of the natural resource company's stock worth $44,000 after purchasing an additional 395 shares in the last quarter. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $65.70 on Friday. The firm has a market cap of $94.45 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 0.79 and a beta of 1.32. The company has a 50 day moving average of $62.11 and a 200-day moving average of $57.21. The company has a current ratio of 2.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28. Freeport-McMoRan Inc. has a 1-year low of $35.15 and a 1-year high of $70.96.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.10. The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.73 billion. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. Freeport-McMoRan's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share. On average, equities analysts forecast that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were issued a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. Freeport-McMoRan's dividend payout ratio (DPR) is currently 15.96%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FCX. Wells Fargo & Company dropped their price target on shares of Freeport-McMoRan from $77.00 to $68.00 and set an "overweight" rating for the company in a research report on Friday, April 24th. Wall Street Zen lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Saturday, February 14th. Morgan Stanley reissued an "equal weight" rating and issued a $66.00 price target (down from $70.00) on shares of Freeport-McMoRan in a research report on Friday, April 24th. UBS Group increased their price target on shares of Freeport-McMoRan from $74.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, May 21st. Finally, Scotiabank dropped their price target on shares of Freeport-McMoRan from $71.00 to $67.00 and set a "sector perform" rating for the company in a research report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Freeport-McMoRan has a consensus rating of "Moderate Buy" and a consensus target price of $65.72.

Key Stories Impacting Freeport-McMoRan

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

• Positive Sentiment: FCX is benefiting from renewed optimism around the electrification boom, with analysts highlighting its copper-focused business and Barclays’ recent Overweight rating and $77 price target. Why Wall Street Sees Freeport-McMoRan (FCX) Benefiting From The Electrification Boom
• Positive Sentiment: Investor sentiment has also been supported by strong recent share performance, with articles pointing to FCX’s large 1-year and year-to-date gains as evidence that the market is still rewarding the stock’s copper leverage. Reassessing Freeport McMoRan (FCX) Valuation After A Strong 1 Year Return Attracts Renewed Investor Attention
• Positive Sentiment: Some coverage argues FCX remains attractive on long-term fundamentals, citing a discounted valuation, resilient U.S. operations, and an expansion pipeline that could support earnings growth. Freeport-McMoRan: Robust Pipeline And Significant Long-Term Potential Make It A Buy
• Neutral Sentiment: Several recent articles simply note that FCX is attracting more investor and trader attention, which may reflect growing interest but does not by itself signal a major new catalyst. Freeport-McMoRan Inc. (FCX) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: FCX has also been mentioned in lists of top-performing silver and gold stocks, reinforcing its commodity exposure, but these pieces are mostly descriptive rather than clearly stock-moving. Is Freeport-McMoRan Inc. (FCX) Among the Best Performing Silver Stocks So Far in 2026?
• Negative Sentiment: A potential headwind remains the slower-than-expected recovery at the Grasberg copper and gold complex in Indonesia, which could weigh on near-term production expectations and sentiment. Is Freeport-McMoRan Inc. (FCX) Among the Best Performing Silver Stocks So Far in 2026?

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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