Cwm LLC raised its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 27.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 277,299 shares of the natural resource company's stock after buying an additional 60,309 shares during the quarter. Cwm LLC's holdings in Freeport-McMoRan were worth $14,084,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Freeport-McMoRan in the 3rd quarter valued at approximately $25,000. Salomon & Ludwin LLC grew its stake in shares of Freeport-McMoRan by 1,962.9% in the 3rd quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company's stock valued at $29,000 after buying an additional 687 shares during the period. JPL Wealth Management LLC purchased a new stake in shares of Freeport-McMoRan in the 3rd quarter valued at approximately $33,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Freeport-McMoRan in the 3rd quarter valued at approximately $36,000. Finally, Proffitt & Goodson Inc. grew its stake in shares of Freeport-McMoRan by 39.8% in the 3rd quarter. Proffitt & Goodson Inc. now owns 977 shares of the natural resource company's stock valued at $38,000 after buying an additional 278 shares during the period. 80.77% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Freeport-McMoRan
In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 29,654 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $63.00, for a total value of $1,868,202.00. Following the completion of the transaction, the chief accounting officer owned 76,445 shares in the company, valued at approximately $4,816,035. This represents a 27.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Ellie L. Mikes sold 11,000 shares of the company's stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $62.03, for a total transaction of $682,330.00. Following the transaction, the chief accounting officer owned 40,773 shares in the company, valued at $2,529,149.19. The trade was a 21.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 565,145 shares of company stock valued at $35,839,918 in the last three months. Insiders own 0.75% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on FCX shares. JPMorgan Chase & Co. increased their price target on shares of Freeport-McMoRan from $68.00 to $76.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. Citigroup lifted their target price on Freeport-McMoRan from $48.00 to $67.00 and gave the company a "buy" rating in a research report on Monday, January 12th. Stifel Nicolaus lifted their target price on Freeport-McMoRan from $52.00 to $76.00 and gave the company a "buy" rating in a research report on Wednesday, February 11th. BMO Capital Markets lifted their target price on Freeport-McMoRan from $55.00 to $68.00 and gave the company an "outperform" rating in a research report on Wednesday, January 14th. Finally, Scotiabank reduced their target price on Freeport-McMoRan from $72.00 to $71.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 14th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan has a consensus rating of "Moderate Buy" and a consensus target price of $66.26.
Get Our Latest Stock Analysis on FCX
Key Freeport-McMoRan News
Here are the key news stories impacting Freeport-McMoRan this week:
- Positive Sentiment: Earnings outlook: Analysts and research notes see the company positioned to deliver an earnings beat in the upcoming report, citing the right combination of revenue and cost factors that support higher guidance and potential upside to consensus estimates. This improves near-term fundamentals sentiment for FCX. Freeport-McMoRan (FCX) Earnings Expected to Grow: Should You Buy?
- Positive Sentiment: Market action: The stock moved higher in the latest session versus the broader market, reflecting investor buying interest alongside elevated volume — a near-term technical tailwind that reinforces momentum-driven inflows. Freeport-McMoRan (FCX) Rises Higher Than Market: Key Facts
- Neutral Sentiment: Insider selling noted: Reports show executives sold shares while the stock rallied past the $69 level. Insider sales can be interpreted many ways (portfolio diversification, taxes, or signaling), so investors should monitor the size, timing and reason disclosures before changing positions. Freeport-McMoRan (FCX) Stock Soars Past $69 While Executives Unload Shares
- Negative Sentiment: Analyst target cut: Scotiabank trimmed its price target to $71, which is mildly negative because it reduces some analyst-driven upside and could cap momentum if other firms follow. This raises some valuation risk even as fundamentals look supportive. Scotiabank Lowers Freeport-McMoRan NYSE: FCX Price Target to $71.00
Freeport-McMoRan Trading Up 2.7%
NYSE FCX opened at $70.11 on Friday. The company has a market capitalization of $100.76 billion, a price-to-earnings ratio of 46.43, a price-to-earnings-growth ratio of 0.78 and a beta of 1.48. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.29 and a quick ratio of 1.05. Freeport-McMoRan Inc. has a 12 month low of $32.12 and a 12 month high of $70.71. The firm's fifty day moving average price is $62.20 and its 200 day moving average price is $52.95.
Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.19. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The firm had revenue of $5.63 billion for the quarter, compared to analysts' expectations of $5.42 billion. During the same quarter in the previous year, the firm posted $0.31 EPS. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. On average, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.
Freeport-McMoRan Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be given a $0.075 dividend. The ex-dividend date is Wednesday, April 15th. This represents a $0.30 annualized dividend and a yield of 0.4%. Freeport-McMoRan's dividend payout ratio is presently 19.87%.
About Freeport-McMoRan
(
Free Report)
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.
Further Reading
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