D.A. Davidson & CO. Acquires 109,856 Shares of Freeport-McMoRan Inc. $FCX

Key Points

• D.A. Davidson & Co. increased its Freeport-McMoRan stake by 57.9% in the first quarter, buying 109,856 additional shares and bringing its total holdings to 299,493 shares worth about $17.6 million.
• Freeport-McMoRan recently reported better-than-expected quarterly results, with EPS of $0.57 on revenue of $6.23 billion, both topping analyst estimates and showing 8.8% year-over-year revenue growth.
• Analysts remain broadly constructive on FCX, with several raising price targets; the stock has a consensus “Moderate Buy” rating and a consensus price target of $68.77, though one recent downgrade and a softer trading session reflect some caution around copper demand.

D.A. Davidson & CO. boosted its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 57.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 299,493 shares of the natural resource company's stock after purchasing an additional 109,856 shares during the period. D.A. Davidson & CO.'s holdings in Freeport-McMoRan were worth $17,604,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. KBC Group NV lifted its holdings in Freeport-McMoRan by 49.0% in the fourth quarter. KBC Group NV now owns 221,838 shares of the natural resource company's stock valued at $11,267,000 after buying an additional 73,002 shares during the period. Fifth Third Bancorp grew its holdings in Freeport-McMoRan by 34.5% during the 1st quarter. Fifth Third Bancorp now owns 1,062,916 shares of the natural resource company's stock worth $62,478,000 after acquiring an additional 272,726 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Freeport-McMoRan during the 4th quarter worth about $8,857,000. Franklin Resources Inc. raised its position in shares of Freeport-McMoRan by 31.2% in the 4th quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company's stock worth $1,897,202,000 after acquiring an additional 8,891,743 shares in the last quarter. Finally, Powszechne Towarzystwo Emerytalne Allianz Polska S.A. raised its position in shares of Freeport-McMoRan by 175.4% in the 4th quarter. Powszechne Towarzystwo Emerytalne Allianz Polska S.A. now owns 1,379,760 shares of the natural resource company's stock worth $70,078,000 after acquiring an additional 878,760 shares in the last quarter. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan News Roundup

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

Freeport-McMoRan Stock Performance

Shares of FCX opened at $58.50 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. The stock has a 50-day moving average of $63.93 and a 200-day moving average of $61.96. The company has a market cap of $84.10 billion, a PE ratio of 31.12, a P/E/G ratio of 0.61 and a beta of 1.37. Freeport-McMoRan Inc. has a one year low of $35.15 and a one year high of $72.28.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.10. The business 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 period in the prior year, the business earned $0.24 EPS. On average, equities research analysts predict that Freeport-McMoRan Inc. will post 2.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FCX shares. Weiss Ratings downgraded Freeport-McMoRan from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 7th. Jefferies Financial Group lifted their target price on Freeport-McMoRan from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 8th. HSBC boosted their price target on Freeport-McMoRan from $72.00 to $75.00 in a research note on Friday, June 12th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Freeport-McMoRan in a report on Friday, May 15th. Finally, UBS Group raised their price objective on shares of Freeport-McMoRan from $75.00 to $77.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $68.77.

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.

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.