Freeport-McMoRan Inc. $FCX Stock Acquired by Avidian Wealth Enterprises LLC

Key Points

• Avidian Wealth Enterprises increased its Freeport-McMoRan stake by 165.1% in the third quarter, holding 33,398 shares valued at approximately $2.34 million. Institutional investors collectively own 80.77% of FCX.
• Freeport-McMoRan beat quarterly expectations with EPS of $0.74 versus the $0.62 consensus and revenue of $7.03 billion, though revenue declined 7.3% year over year. The company also declared a quarterly dividend of $0.075 per share.
• Analyst sentiment remains generally positive, with JPMorgan raising its price target to $92 and the stock carrying a “Moderate Buy” consensus rating; however, insiders sold more than $8.4 million of shares over the past 90 days and some earnings estimates were reduced.

Avidian Wealth Enterprises LLC grew its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 165.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,398 shares of the natural resource company's stock after acquiring an additional 20,801 shares during the period. Avidian Wealth Enterprises LLC's holdings in Freeport-McMoRan were worth $2,338,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Valeo Financial Advisors LLC grew its holdings in Freeport-McMoRan by 3.1% during the third quarter. Valeo Financial Advisors LLC now owns 18,950 shares of the natural resource company's stock valued at $1,327,000 after purchasing an additional 561 shares during the period. Veracity Capital LLC grew its stake in shares of Freeport-McMoRan by 12.7% during the 3rd quarter. Veracity Capital LLC now owns 14,074 shares of the natural resource company's stock worth $985,000 after acquiring an additional 1,586 shares during the period. Plan A Wealth LLC grew its stake in shares of Freeport-McMoRan by 12.4% during the 3rd quarter. Plan A Wealth LLC now owns 4,099 shares of the natural resource company's stock worth $287,000 after acquiring an additional 451 shares during the period. Tactive Advisors LLC increased its holdings in Freeport-McMoRan by 24.9% in the 3rd quarter. Tactive Advisors LLC now owns 12,564 shares of the natural resource company's stock worth $880,000 after acquiring an additional 2,501 shares during the last quarter. Finally, New Covenant Trust Company N.A. bought a new stake in Freeport-McMoRan in the 3rd quarter valued at about $231,000. Hedge funds and other institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Trading Down 0.9%

Freeport-McMoRan stock opened at $71.19 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 2.07. Freeport-McMoRan Inc. has a fifty-two week low of $38.54 and a fifty-two week high of $80.24. The stock has a market cap of $102.24 billion, a P/E ratio of 35.07, a PEG ratio of 0.69 and a beta of 1.39. The firm's fifty day moving average price is $71.56 and its 200-day moving average price is $66.05.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.12. The company had revenue of $7.03 billion during 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%.The firm's quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter last year, the company earned $0.54 earnings per share. Equities research analysts forecast that Freeport-McMoRan Inc. will post 2.87 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be paid a $0.0750 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, October 15th. Freeport-McMoRan's payout ratio is currently 14.78%.

More Freeport-McMoRan News

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

• Positive Sentiment: Higher price targets support the stock: JPMorgan raised its target to $92 from $77 and maintained an “overweight” rating. Wells Fargo also lifted its target to $87 from $70 while keeping an “overweight” rating. Wells Fargo Adjusts Price Target
• Positive Sentiment: Potentially stronger copper demand is a catalyst: Deutsche Bank reportedly expects copper could reach $10 per pound, driven by artificial-intelligence infrastructure and electric-vehicle demand. Higher copper prices would generally improve Freeport-McMoRan’s realized pricing, revenue and cash flow. Copper Could Hit $10 a Pound
• Neutral Sentiment: Analyst attention remains elevated: FCX was highlighted in materials-sector research and appeared among stocks drawing significant investor interest. These reports may increase visibility but did not provide a clear new fundamental catalyst. Analysts Offer Insights on Materials Companies
• Negative Sentiment: Repeated earnings-estimate cuts weighed on sentiment: Zacks Research reduced its forecasts for third-quarter 2026 EPS to $0.61 from $0.63 and lowered FY2027 EPS to $3.47 from $3.54. It also cut FY2028 EPS to $3.41 from $3.52, along with several quarterly estimates. The revisions suggest analysts see somewhat weaker near- to medium-term profitability than previously expected. Zacks Research Earnings Estimates
• Negative Sentiment: Mixed valuation and market signals: FCX’s latest session close of $71.14 was near its 50-day average of $71.41 but well above its 200-day average of $65.91. With a reported P/E ratio above 35, further estimate reductions may be particularly sensitive for investors, despite long-term copper optimism. FCX Underperforms the General Market

Insider Activity at Freeport-McMoRan

In other news, EVP Douglas N. Currault II sold 80,000 shares of Freeport-McMoRan 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 completion of the sale, the executive vice president directly owned 211,016 shares of the company's stock, valued at approximately $16,577,416.96. The trade was a 27.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Stephen T. Higgins sold 14,277 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $69.50, for a total transaction of $992,251.50. Following the completion of the transaction, the chief accounting officer owned 54,618 shares of the company's stock, valued at $3,795,951. This trade represents a 20.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 110,398 shares of company stock worth $8,387,271 in the last 90 days. 0.73% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on FCX shares. JPMorgan Chase & Co. boosted their price target on shares of Freeport-McMoRan from $77.00 to $92.00 and gave the company an "overweight" rating in a research report on Wednesday. Freedom Broker cut shares of Freeport-McMoRan from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 3rd. The Goldman Sachs Group restated a "buy" rating on shares of Freeport-McMoRan in a research report on Thursday, September 10th. BNP Paribas Exane lifted 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. Finally, Weiss Ratings upgraded Freeport-McMoRan from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Freeport-McMoRan currently has an average rating of "Moderate Buy" and an average price target of $76.22.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc NYSE: FCX is a leading international mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Copper is its principal product and is used in electrical systems, construction, transportation, renewable energy infrastructure and other industrial applications. The company also produces copper cathodes and concentrates, gold, molybdenum products and certain quantities of silver and other byproducts.

Freeport-McMoRan operates a portfolio of mining and processing assets in North America, South America and Indonesia.

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