Freeport-McMoRan Inc. $FCX is Pacific Heights Asset Management LLC's 4th Largest Position

Key Points

• Pacific Heights Asset Management increased its Freeport-McMoRan stake by 3.9% in the fourth quarter, bringing its holdings to 2.65 million shares. The position now represents about 5% of the fund’s portfolio and is its fourth-largest holding.
• Insider selling was reported recently, with CAO Stephen T. Higgins and CAO Ellie L. Mikes both reducing their holdings through stock sales in February. Corporate insiders own about 0.75% of the company.
• Freeport-McMoRan posted better-than-expected quarterly results, earning $0.57 per share on $6.23 billion in revenue, and analysts currently rate the stock a Moderate Buy with a consensus target price of $65.14.

Pacific Heights Asset Management LLC boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,650,000 shares of the natural resource company's stock after purchasing an additional 100,000 shares during the period. Freeport-McMoRan accounts for approximately 5.0% of Pacific Heights Asset Management LLC's portfolio, making the stock its 4th biggest position. Pacific Heights Asset Management LLC owned about 0.18% of Freeport-McMoRan worth $134,594,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Freeport-McMoRan by 190.9% during the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company's stock worth $1,431,326,000 after purchasing an additional 23,950,557 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Freeport-McMoRan by 205.0% during the 2nd quarter. AQR Capital Management LLC now owns 4,186,621 shares of the natural resource company's stock valued at $181,490,000 after buying an additional 2,813,845 shares during the last quarter. Amundi grew its stake in shares of Freeport-McMoRan by 43.7% in the 3rd quarter. Amundi now owns 7,018,624 shares of the natural resource company's stock valued at $282,991,000 after buying an additional 2,132,708 shares in the last quarter. Kirkoswald Asset Management LLC acquired a new position in Freeport-McMoRan in the third quarter worth approximately $82,754,200,000. Finally, Schroder Investment Management Group raised its position in Freeport-McMoRan by 87.6% during the third quarter. Schroder Investment Management Group now owns 4,115,008 shares of the natural resource company's stock valued at $152,749,000 after acquiring an additional 1,921,792 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

Insider Activity at Freeport-McMoRan

In other news, CAO Stephen T. Higgins sold 29,654 shares of the business's stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $63.00, for a total transaction of $1,868,202.00. Following the sale, the chief accounting officer directly owned 76,445 shares in the company, valued at approximately $4,816,035. The trade was a 27.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Ellie L. Mikes sold 11,000 shares of the company's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $62.03, for a total value of $682,330.00. Following the completion of the transaction, the chief accounting officer owned 40,773 shares of the company's stock, valued at $2,529,149.19. The trade was a 21.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.75% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on FCX shares. Argus upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating in a report on Friday, February 13th. Weiss Ratings upgraded Freeport-McMoRan from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. CICC Research cut their price objective on Freeport-McMoRan from $64.40 to $63.40 and set an "outperform" rating on the stock in a research note on Tuesday, April 28th. Citigroup reduced their target price on Freeport-McMoRan from $67.00 to $66.00 and set a "buy" rating for the company in a report on Friday, May 1st. Finally, Jefferies Financial Group set a $75.00 target price on Freeport-McMoRan in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $65.14.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX opened at $63.02 on Monday. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $70.96. The company has a market cap of $90.60 billion, a P/E ratio of 33.52, a P/E/G ratio of 0.76 and a beta of 1.32. The business's 50 day moving average is $61.45 and its two-hundred day moving average is $55.78. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. The company had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.Freeport-McMoRan's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 earnings per share. On average, equities analysts expect that Freeport-McMoRan Inc. will post 2.56 EPS for the current 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 given a dividend of $0.075 per share. 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 is currently 15.96%.

More Freeport-McMoRan News

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

• Positive Sentiment: Industry outlook pieces highlighted Freeport-McMoRan as a beneficiary of rising copper demand tied to AI infrastructure, power grids, and energy projects, which supports the longer-term investment case for FCX. Zacks Industry Outlook Highlights Southern Copper, Freeport-McMoRan and Lundin Mining
• Positive Sentiment: FCX was also mentioned in “best mining stocks” and “stocks to watch” lists, reflecting continued investor interest and a favorable view of its growth potential despite near-term industry headwinds. Freeport-McMoRan (FCX): The Best American Mining Stock to Buy Right Now
• Positive Sentiment: Analyst commentary noted that Citi and Jefferies remain constructive on FCX even after modest price-target cuts, indicating Wall Street still sees upside potential. Freeport-McMoRan (FCX): The Best American Mining Stock to Buy Right Now
• Neutral Sentiment: Freeport-McMoRan’s presentation at the Bank of America Global Metals, Mining & Steel Conference may provide investors with updates on strategy and operations, but no new catalyst was indicated in the headline. Freeport-McMoRan Inc. (FCX) Presents at Bank of America Global Metals, Mining & Steel Conference 2026 Transcript
• Negative Sentiment: The main near-term overhang is the reduced 2026 copper sales outlook after Grasberg disruptions, which directly affects production expectations and is likely weighing on FCX shares. Grasberg Disruptions Weigh on FCX's Q1 Volumes: What Lies Ahead?

About Freeport-McMoRan

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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