Freeport-McMoRan Inc. $FCX Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments boosted its stake in Freeport-McMoRan by 39.2%, buying 75,121 shares to hold 266,665 shares worth about $13.54 million after the quarter.
• Several analysts turned more positive—Goldman Sachs initiated coverage with a Buy and $70 target, Deutsche Bank raised its target to $72, and the consensus rating is a Moderate Buy with an average price target of $66.26.
• Company insiders have been net sellers recently: the CAO and chairman sold large blocks (29,654 and 248,031 shares), with insiders offloading a total of 565,145 shares (~$35.8M) over the past three months, leaving insiders owning 0.79% of the stock.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 39.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 266,665 shares of the natural resource company's stock after purchasing an additional 75,121 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Freeport-McMoRan were worth $13,544,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Freeport-McMoRan during the third quarter worth about $25,000. Salomon & Ludwin LLC lifted its position in shares of Freeport-McMoRan by 1,962.9% during the third quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company's stock worth $29,000 after purchasing an additional 687 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Freeport-McMoRan during the third quarter worth about $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Freeport-McMoRan during the third quarter worth about $36,000. Finally, Proffitt & Goodson Inc. lifted its position in shares of Freeport-McMoRan by 39.8% during the third quarter. Proffitt & Goodson Inc. now owns 977 shares of the natural resource company's stock worth $38,000 after purchasing an additional 278 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Freeport-McMoRan in a research report on Thursday, January 22nd. The Goldman Sachs Group assumed coverage on shares of Freeport-McMoRan in a report on Thursday, April 2nd. They issued a "buy" rating and a $70.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Freeport-McMoRan from $58.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, April 15th. Morgan Stanley set a $70.00 target price on shares of Freeport-McMoRan in a report on Tuesday, January 27th. Finally, BMO Capital Markets raised their target price on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the company an "outperform" rating in a report on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $66.26.

Insider Buying and Selling

In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 29,654 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $63.00, for a total value of $1,868,202.00. Following the transaction, the chief accounting officer directly owned 76,445 shares in the company, valued at $4,816,035. This represents a 27.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Richard C. Adkerson sold 248,031 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $62.80, for a total transaction of $15,576,346.80. Following the completion of the transaction, the chairman owned 3,509,119 shares in the company, valued at $220,372,673.20. This represents a 6.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 565,145 shares of company stock valued at $35,839,918 over the last three months. 0.79% of the stock is currently owned by insiders.

Freeport-McMoRan Stock Down 0.1%

Shares of NYSE:FCX opened at $70.11 on Monday. The firm's 50 day moving average price is $62.20 and its 200 day moving average price is $53.05. The stock has a market cap of $100.76 billion, a price-to-earnings ratio of 46.43, a price-to-earnings-growth ratio of 0.80 and a beta of 1.48. Freeport-McMoRan Inc. has a fifty-two week low of $32.12 and a fifty-two week high of $70.71. The company has a quick ratio of 1.05, a current ratio of 2.29 and a debt-to-equity ratio of 0.29.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.19. The firm had revenue of $5.63 billion for the quarter, compared to analysts' expectations of $5.42 billion. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The firm's revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 earnings per share. As a group, equities research analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, April 15th. Freeport-McMoRan's dividend payout ratio is currently 19.87%.

Key Headlines Impacting Freeport-McMoRan

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 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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