Freeport-McMoRan Inc. $FCX Shares Purchased by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp increased its Freeport-McMoRan stake by 34.5% in the first quarter, buying an additional 272,726 shares and bringing its holdings to 1,062,916 shares worth about $62.5 million.
• Other institutional investors also adjusted positions, and overall hedge funds and institutions own 80.77% of Freeport-McMoRan shares, signaling strong institutional interest in the stock.
• Freeport-McMoRan beat quarterly expectations with EPS of $0.57 versus $0.47 expected and revenue of $6.23 billion, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average target price of $68.63.

Fifth Third Bancorp boosted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 34.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,062,916 shares of the natural resource company's stock after buying an additional 272,726 shares during the quarter. Fifth Third Bancorp owned 0.07% of Freeport-McMoRan worth $62,478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Glass Wealth Management Co LLC grew its holdings in shares of Freeport-McMoRan by 1.0% in the 1st quarter. Glass Wealth Management Co LLC now owns 143,694 shares of the natural resource company's stock worth $8,446,000 after acquiring an additional 1,411 shares during the period. Candriam S.C.A. raised its holdings in Freeport-McMoRan by 109.3% during the first quarter. Candriam S.C.A. now owns 679,498 shares of the natural resource company's stock worth $39,941,000 after purchasing an additional 354,856 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in Freeport-McMoRan by 45.8% during the first quarter. Sequoia Financial Advisors LLC now owns 53,020 shares of the natural resource company's stock worth $3,116,000 after purchasing an additional 16,646 shares during the last quarter. KLCM Advisors Inc. purchased a new stake in Freeport-McMoRan during the first quarter worth $668,000. Finally, Kornitzer Capital Management Inc. KS purchased a new stake in Freeport-McMoRan during the first quarter worth $444,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $61.44 on Monday. 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 Inc. has a fifty-two week low of $35.15 and a fifty-two week high of $72.28. The business has a fifty day moving average of $63.85 and a 200-day moving average of $61.73. The stock has a market cap of $88.32 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 0.62 and a beta of 1.37.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.10. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The business's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 earnings per share. As a group, analysts predict that Freeport-McMoRan Inc. will post 2.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend 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%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. BNP Paribas Exane raised their price target on Freeport-McMoRan from $71.00 to $82.00 and gave the company an "outperform" rating in a research report on Thursday, June 18th. Raymond James Financial decreased their price objective on shares of Freeport-McMoRan from $72.00 to $68.00 and set an "outperform" rating on the stock in a research report on Friday, April 24th. Sanford C. Bernstein increased their price objective on shares of Freeport-McMoRan from $53.50 to $58.50 and gave the company a "market perform" rating in a research note on Wednesday, June 10th. Jefferies Financial Group raised their target price on shares of Freeport-McMoRan from $75.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 8th. Finally, HSBC lifted their target price on shares of Freeport-McMoRan from $72.00 to $75.00 in a research report on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Freeport-McMoRan currently has an average rating of "Moderate Buy" and a consensus target price of $68.63.

More Freeport-McMoRan News

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

• Positive Sentiment: Bank of America raised its price target on Freeport-McMoRan to $80 from $74 and kept a buy rating, while JPMorgan lifted its target to $77 and maintained an overweight view, signaling stronger Wall Street confidence in FCX’s upside. Freeport-McMoRan NYSE: FCX Given New $80.00 Price Target at Bank of America
• Positive Sentiment: Scotiabank also increased its FY2026 EPS estimate for FCX to $3.01 from $2.60 and reiterated a Sector Outperform rating, reinforcing the view that earnings expectations are improving. Freeport-McMoRan Inc. NYSE: FCX
• Positive Sentiment: Recent coverage notes that copper demand remains strong due to electrification, grid expansion, and data center growth, which is supportive for Freeport-McMoRan as a major copper producer. Freeport McMoRan (FCX) Faces Grasberg Output Pressure As Copper Demand Stays Strong
• Neutral Sentiment: Analysts continue to flag FCX as a closely watched materials stock, and several articles highlight valuation debates and fair-value estimates rather than a major new catalyst. Is Freeport-McMoRan (FCX) Stock Cheap After The 2026 Guidance Cut?
• Neutral Sentiment: Freeport-McMoRan’s board declared a $0.15 per share cash dividend, which may appeal to income investors but is not a major surprise for the stock. Freeport-McMoRan (FCX) Declared A Cash Dividend, Is It Still 19% Undervalued?
• Negative Sentiment: There are also ongoing concerns about output pressure at the Grasberg mine, which could limit near-term production even as demand stays firm. Freeport McMoRan (FCX) Faces Grasberg Output Pressure As Copper Demand Stays Strong

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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