Freeport-McMoRan Inc. $FCX Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Freeport-McMoRan stake by 43.9% in the second quarter, selling 2.31 million shares and retaining approximately 2.95 million shares valued at $185.3 million.
• Freeport-McMoRan reported quarterly EPS of $0.74 versus the $0.62 consensus estimate and revenue of $7.03 billion, although revenue declined 7.3% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $70.27.
• Company insiders sold 26,600 shares worth about $1.8 million over the past 90 days, while Freeport-McMoRan paid a quarterly dividend of $0.075 per share, representing a 0.4% yield.

Assenagon Asset Management S.A. decreased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 43.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,946,891 shares of the natural resource company's stock after selling 2,310,579 shares during the period. Assenagon Asset Management S.A. owned approximately 0.20% of Freeport-McMoRan worth $185,330,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. grew its position in Freeport-McMoRan by 7.9% in the first quarter. Pinnacle Bancorp Inc. now owns 2,011 shares of the natural resource company's stock worth $118,000 after buying an additional 147 shares during the last quarter. Steph & Co. boosted its stake in shares of Freeport-McMoRan by 43.7% during the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company's stock worth $29,000 after acquiring an additional 150 shares in the last quarter. Essex Bank raised its position in shares of Freeport-McMoRan by 1.2% during the first quarter. Essex Bank now owns 14,104 shares of the natural resource company's stock worth $829,000 after purchasing an additional 163 shares during the period. Klein Pavlis & Peasley Financial Inc. raised its position in shares of Freeport-McMoRan by 0.9% during the first quarter. Klein Pavlis & Peasley Financial Inc. now owns 18,674 shares of the natural resource company's stock worth $1,098,000 after purchasing an additional 175 shares during the period. Finally, Physician Wealth Advisors Inc. raised its position in shares of Freeport-McMoRan by 23.5% during the fourth quarter. Physician Wealth Advisors Inc. now owns 924 shares of the natural resource company's stock worth $47,000 after purchasing an additional 176 shares during the period. 80.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Stephen T. Higgins sold 14,277 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $69.50, for a total value of $992,251.50. Following the completion of the sale, the chief accounting officer directly owned 54,618 shares of the company's stock, valued at $3,795,951. This represents a 20.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ellie L. Mikes sold 4,773 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $70.00, for a total transaction of $334,110.00. Following the sale, the chief accounting officer owned 36,000 shares of the company's stock, valued at approximately $2,520,000. This represents a 11.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 26,600 shares of company stock worth $1,802,012. Company insiders own 0.73% of the company's stock.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $68.17 on Friday. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $72.28. The company has a quick ratio of 0.92, a current ratio of 2.07 and a debt-to-equity ratio of 0.25. The stock has a market cap of $98.00 billion, a PE ratio of 33.58, a price-to-earnings-growth ratio of 0.70 and a beta of 1.37. The business has a fifty day simple moving average of $63.95 and a 200-day simple moving average of $62.80.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.12. The firm had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.62 billion. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%.Freeport-McMoRan's quarterly revenue was down 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 earnings per share. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 2.75 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, July 15th. Freeport-McMoRan's payout ratio is 14.78%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FCX shares. Citigroup reiterated a "positive" rating on shares of Freeport-McMoRan in a research report on Wednesday, July 15th. Royal Bank Of Canada boosted their price objective on Freeport-McMoRan from $70.00 to $73.00 and gave the stock a "sector perform" rating in a report on Friday, July 24th. Bank of America upped their price objective on shares of Freeport-McMoRan from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. HSBC raised their target price on shares of Freeport-McMoRan from $72.00 to $75.00 in a report on Friday, June 12th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $78.00 target price on shares of Freeport-McMoRan in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Freeport-McMoRan currently has a consensus rating of "Moderate Buy" and an average price target of $70.27.

More Freeport-McMoRan News

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

• Positive Sentiment: Analysts continue to highlight FCX’s leverage to potential growth in copper demand from electric vehicles, power-grid upgrades and data-center infrastructure. Freeport-McMoRan in Focus as Copper Demand From EVs and Grids Builds
• Positive Sentiment: Recent coverage also points to expected increases in copper and gold sales during the second half of 2026 and into 2027, while the company’s ongoing share repurchases could support earnings per share by reducing its share count.
• Positive Sentiment: Unusually high options activity indicates elevated speculative interest in FCX, including roughly 75,145 call options purchased—about 30% above typical daily call volume.
• Positive Sentiment: Freeport-McMoRan recently paid a quarterly dividend of $0.075 per share, equivalent to $0.30 annually. Although the approximately 0.4% yield is modest, the payment reinforces the company’s shareholder-return program. Freeport-McMoRan Declares Dividend
• Neutral Sentiment: Zacks listed FCX among non-ferrous mining stocks worth watching for long-term growth, but cautioned that the broader industry faces a weak near-term outlook. Zacks Industry Outlook
• Positive Sentiment: The company’s latest reported quarter exceeded expectations, with earnings per share of $0.74 versus a $0.62 consensus estimate and revenue of $7.03 billion versus expectations of $6.62 billion.
• Negative Sentiment: Chief Accounting Officer Ellie Mikes sold 4,773 shares for approximately $334,110, while another filing reported Stephen Higgins selling 14,277 shares for about $992,252. The insider selling may weigh on sentiment, although such transactions can reflect personal financial planning rather than weaker business prospects. FCX Insider Trading

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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