Freeport-McMoRan Inc. $FCX Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. grew its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 58.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,960 shares of the natural resource company's stock after purchasing an additional 16,289 shares during the quarter. Bessemer Group Inc.'s holdings in Freeport-McMoRan were worth $2,584,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Freeport-McMoRan by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 130,332,957 shares of the natural resource company's stock worth $6,619,611,000 after purchasing an additional 1,572,769 shares in the last quarter. Fisher Asset Management LLC increased its position in Freeport-McMoRan by 1.0% during the 4th quarter. Fisher Asset Management LLC now owns 63,880,757 shares of the natural resource company's stock valued at $3,244,504,000 after buying an additional 622,343 shares in the last quarter. State Street Corp increased its position in Freeport-McMoRan by 0.6% during the 4th quarter. State Street Corp now owns 62,873,136 shares of the natural resource company's stock valued at $3,193,327,000 after buying an additional 395,226 shares in the last quarter. Franklin Resources Inc. raised its stake in Freeport-McMoRan by 31.2% in the fourth quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company's stock valued at $1,897,202,000 after buying an additional 8,891,743 shares during the last quarter. Finally, Morgan Stanley raised its stake in Freeport-McMoRan by 10.1% in the fourth quarter. Morgan Stanley now owns 34,262,241 shares of the natural resource company's stock valued at $1,740,179,000 after buying an additional 3,130,046 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Up 6.4%

FCX stock opened at $62.57 on Wednesday. The firm's fifty day simple moving average is $63.69 and its 200-day simple moving average is $62.15. The company has a market capitalization of $89.94 billion, a P/E ratio of 33.28, a price-to-earnings-growth ratio of 0.59 and a beta of 1.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $72.28.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (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 analysts' expectations of $5.73 billion. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The firm's revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 earnings per share. As a group, equities research analysts forecast that Freeport-McMoRan Inc. will post 2.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, July 15th. Freeport-McMoRan's dividend payout ratio (DPR) is currently 15.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FCX shares. JPMorgan Chase & Co. boosted their price target on Freeport-McMoRan from $73.00 to $77.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Scotiabank upped their price objective on shares of Freeport-McMoRan from $67.00 to $77.00 and gave the company a "sector outperform" rating in a report on Monday, June 15th. Morgan Stanley increased their price objective on shares of Freeport-McMoRan from $66.00 to $70.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 8th. BNP Paribas Exane lifted their target price on shares of Freeport-McMoRan from $71.00 to $82.00 and gave the stock an "outperform" rating in a research note on Thursday, June 18th. Finally, Wall Street Zen raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating in a research report on Saturday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.95.

More Freeport-McMoRan News

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

• Positive Sentiment: Stifel Nicolaus raised its price target on Freeport-McMoRan from $76 to $80 and kept a buy rating, signaling confidence in further upside for FCX. Article Link
• Positive Sentiment: Analysts have increased their earnings forecast for FCX’s upcoming quarter to about $0.60 per share, suggesting stronger profitability even though revenue is expected to decline year over year due to cost discipline and operational efficiency. Article Link
• Positive Sentiment: Multiple earnings-preview and sector pieces highlighted FCX as a miner with potential to beat Q2 estimates, helped by stronger commodity prices. Article Link
• Positive Sentiment: Coverage around the global AI data center buildout continues to support the long-term copper demand story, with FCX positioned as a key beneficiary if AI infrastructure spending keeps accelerating. Article Link
• Neutral Sentiment: Recent articles also discussed FCX’s “copper turning point” and its attention in the copper market, but these were more thematic than immediately actionable for the stock. Article Link

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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