Freeport-McMoRan Inc. $FCX Stake Raised by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services increased its Freeport-McMoRan stake 7.8% in the third quarter, ending the period with 263,354 shares valued at about $18.4 million. Other major institutional investors also raised holdings; institutions own 80.77% of the stock.
• Freeport approved a $4.5 billion expansion of its Bagdad mine, targeting more than double the mining and milling rates and roughly 20% lower long-term unit costs. The large investment and higher spending guidance have also prompted near-term concerns and lower earnings estimates from Scotiabank.
• The company beat quarterly earnings and revenue expectations, reporting EPS of $0.88 and revenue of $7.55 billion, up 8.2% year over year. Analysts’ consensus rating is Moderate Buy, with an average price target of $75.30.

Kestra Advisory Services LLC grew its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 7.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 263,354 shares of the natural resource company's stock after buying an additional 19,025 shares during the period. Kestra Advisory Services LLC's holdings in Freeport-McMoRan were worth $18,435,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Jupiter Topco LLC bought a new stake in shares of Freeport-McMoRan during the 2nd quarter valued at about $739,890,000. Bank of America Corp DE lifted its position in Freeport-McMoRan by 20.0% during the first quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company's stock valued at $2,489,069,000 after buying an additional 7,044,775 shares during the period. Janus Henderson Group PLC grew its position in shares of Freeport-McMoRan by 101.2% in the 1st quarter. Janus Henderson Group PLC now owns 11,498,267 shares of the natural resource company's stock worth $675,896,000 after buying an additional 5,784,156 shares during the period. Assenagon Asset Management S.A. boosted its stake in Freeport-McMoRan by 84.9% during the third quarter. Assenagon Asset Management S.A. now owns 5,448,772 shares of the natural resource company's stock worth $381,414,000 after acquiring an additional 2,501,881 shares in the last quarter. Finally, State Street Corp grew its holdings in Freeport-McMoRan by 3.6% in the second quarter. State Street Corp now owns 66,485,424 shares of the natural resource company's stock worth $4,181,268,000 after purchasing an additional 2,300,416 shares during the period. Institutional investors own 80.77% of the company's stock.

More Freeport-McMoRan News

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

• Positive Sentiment: Freeport approved a $4.5 billion expansion of its Bagdad mine in Arizona. The project aims to more than double mining and milling rates, increase copper and molybdenum output, and reduce long-term unit costs by about 20%—potentially supporting future growth and margins. Article: Freeport's $4.5 Billion Bagdad Expansion to Boost U.S. Production
• Negative Sentiment: The project’s substantial capital cost, alongside higher capital-spending guidance, has raised near-term concerns and reportedly pressured shares after the company’s third-quarter results. Scotiabank also lowered its FY2026 and FY2027 EPS estimates to $3.20 and $2.57, respectively, though it kept a Sector Outperform rating and a $78 price target. Article: Powering Up: Freeport-McMoRan's $4.5B Copper Expansion

Insider Activity

In other news, Director Lydia H. Kennard sold 3,798 shares of Freeport-McMoRan stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $79.11, for a total transaction of $300,459.78. Following the sale, the director owned 122,702 shares in the company, valued at $9,706,955.22. This trade represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Douglas N. Currault II sold 80,000 shares of the firm's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $78.56, for a total transaction of $6,284,800.00. Following the transaction, the executive vice president directly owned 211,016 shares of the company's stock, valued at $16,577,416.96. The trade was a 27.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.73% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on FCX shares. Stifel Nicolaus raised their price objective on Freeport-McMoRan from $76.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Royal Bank Of Canada boosted their price objective on shares of Freeport-McMoRan from $73.00 to $85.00 and gave the stock a "sector perform" rating in a report on Wednesday, September 16th. Morgan Stanley upped their price target on Freeport-McMoRan from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, October 7th. Citigroup upped their target price on shares of Freeport-McMoRan from $66.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, October 5th. Finally, Sanford C. Bernstein reduced their price target on shares of Freeport-McMoRan from $50.00 to $47.00 and set a "market perform" rating for the company in a research note on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $75.30.

Freeport-McMoRan Trading Down 0.1%

NYSE:FCX opened at $59.36 on Monday. The business has a fifty day moving average price of $69.84 and a 200-day moving average price of $65.27. The firm has a market capitalization of $85.25 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 0.55 and a beta of 1.38. Freeport-McMoRan Inc. has a one year low of $38.75 and a one year high of $80.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.02 and a quick ratio of 0.91.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its earnings results on Tuesday, October 27th. The natural resource company reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.06. The company had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.36 billion. Freeport-McMoRan had a net margin of 13.03% and a return on equity of 12.09%. The firm's revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 EPS. Sell-side analysts forecast that Freeport-McMoRan Inc. will post 3.02 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th were paid a $0.0750 dividend. The ex-dividend date of this dividend was Thursday, October 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 12.61%.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Its products serve industries including construction, manufacturing, electronics and energy.

The company operates mines and related facilities in North America, South America and Indonesia. Its assets include the Grasberg minerals district in Indonesia and copper operations in the United States, Peru and Chile.

Freeport-McMoRan traces its roots to Freeport Sulphur Company, founded in 1912, and has since developed into a major international mining business.

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