F m Investments LLC Sells 47,741 Shares of Freeport-McMoRan Inc. $FCX

Key Points

• F m Investments LLC cut its Freeport-McMoRan stake by 55.2% in the fourth quarter, selling 47,741 shares and ending with 38,743 shares valued at about $1.97 million.
• Analysts remain generally constructive on FCX despite mixed target changes, with the stock carrying a “Moderate Buy” consensus and an average price target of $65.14.
• Freeport-McMoRan recently posted strong quarterly results, beating EPS and revenue estimates, while recent insider selling and commentary about higher costs and softer production volumes point to some near-term caution.

F m Investments LLC decreased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 55.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,743 shares of the natural resource company's stock after selling 47,741 shares during the period. F m Investments LLC's holdings in Freeport-McMoRan were worth $1,968,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Leo Wealth LLC boosted its position in shares of Freeport-McMoRan by 2.5% during the 4th quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company's stock valued at $347,000 after purchasing an additional 170 shares in the last quarter. Physician Wealth Advisors Inc. boosted its position in shares of Freeport-McMoRan by 23.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 924 shares of the natural resource company's stock valued at $47,000 after purchasing an additional 176 shares in the last quarter. Private Trust Co. NA boosted its position in shares of Freeport-McMoRan by 6.7% during the 4th quarter. Private Trust Co. NA now owns 3,119 shares of the natural resource company's stock valued at $158,000 after purchasing an additional 195 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in Freeport-McMoRan by 0.3% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 64,438 shares of the natural resource company's stock worth $3,273,000 after acquiring an additional 207 shares in the last quarter. Finally, Oakworth Capital Inc. boosted its holdings in Freeport-McMoRan by 5.2% in the fourth quarter. Oakworth Capital Inc. now owns 4,241 shares of the natural resource company's stock worth $215,000 after acquiring an additional 208 shares in the last quarter. Institutional investors own 80.77% of the company's stock.

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Analyst Upgrades and Downgrades

FCX has been the topic of several recent research reports. BNP Paribas Exane cut their price target on Freeport-McMoRan from $75.00 to $71.00 and set an "outperform" rating on the stock in a report on Tuesday, April 28th. UBS Group increased their price target on Freeport-McMoRan from $66.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Sanford C. Bernstein cut their price target on Freeport-McMoRan from $54.00 to $53.50 and set a "market perform" rating on the stock in a report on Friday, April 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of Freeport-McMoRan in a report on Tuesday, April 21st. Finally, BMO Capital Markets increased their price target on Freeport-McMoRan from $55.00 to $68.00 and gave the stock an "outperform" rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $65.14.

Insider Transactions at Freeport-McMoRan

In other news, EVP Douglas N. Currault II sold 75,000 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $64.52, for a total value of $4,839,000.00. Following the completion of the sale, the executive vice president directly owned 219,181 shares of the company's stock, valued at $14,141,558.12. This represents a 25.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Stephen T. Higgins sold 29,654 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 76,445 shares of the company's stock, valued at approximately $4,816,035. This trade represents a 27.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 565,145 shares of company stock valued at $35,839,918. Corporate insiders own 0.79% of the company's stock.

More Freeport-McMoRan News

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

• Positive Sentiment: Zacks Research lifted earnings estimates for multiple future periods, signaling a stronger profit outlook for Freeport-McMoRan.
• Positive Sentiment: Reports that the Grasberg mine may return to full production in 2028 support the longer-term copper production story for FCX.
• Neutral Sentiment: The stock’s recent six-month gain reflects stronger copper prices and earnings, but this move may already reflect much of the optimism. Article Title
• Negative Sentiment: Higher costs and softer production volumes could pressure near-term results and limit upside in FCX shares. Article Title

Freeport-McMoRan Stock Up 0.0%

Shares of NYSE:FCX opened at $61.65 on Monday. The business's 50 day simple moving average is $61.79 and its two-hundred day simple moving average is $54.79. The firm has a market cap of $88.60 billion, a P/E ratio of 32.79, a PEG ratio of 0.74 and a beta of 1.32. 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 $70.96.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.47 by $0.10. The firm had revenue of $6.23 billion during 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 company's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 earnings per share. As a group, research analysts forecast that Freeport-McMoRan Inc. will post 2.56 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were paid a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. Freeport-McMoRan's dividend payout ratio is 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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