Gamco Investors INC. ET AL Cuts Stock Holdings in Freeport-McMoRan Inc. $FCX

Key Points

• Gamco Investors trimmed its Freeport-McMoRan stake by 3.6% in the fourth quarter, though it still owned 947,760 shares worth about $48.1 million at quarter-end. Institutional ownership in FCX remains high at 80.77%.
• Freeport-McMoRan’s latest earnings beat expectations, with EPS of $0.57 versus $0.47 expected and revenue of $6.23 billion, up 8.8% year over year. The company also maintained a quarterly dividend of $0.075 per share.
• Analysts remain generally constructive on FCX despite some mixed price-target moves, with a consensus rating of “Moderate Buy” and an average target price of $65.14. Near-term attention is on Grasberg-related disruptions, which have pressured 2026 copper sales outlook, even as long-term demand for copper stays strong.

Gamco Investors INC. ET AL trimmed its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 3.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 947,760 shares of the natural resource company's stock after selling 35,621 shares during the period. Gamco Investors INC. ET AL owned 0.07% of Freeport-McMoRan worth $48,137,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Leo Wealth LLC grew its stake in Freeport-McMoRan by 2.5% during the fourth quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company's stock valued at $347,000 after acquiring an additional 170 shares in the last quarter. Physician Wealth Advisors Inc. grew its stake in Freeport-McMoRan by 23.5% during the fourth quarter. Physician Wealth Advisors Inc. now owns 924 shares of the natural resource company's stock valued at $47,000 after acquiring an additional 176 shares in the last quarter. Castle Rock Wealth Management LLC grew its stake in Freeport-McMoRan by 3.3% during the fourth quarter. Castle Rock Wealth Management LLC now owns 5,687 shares of the natural resource company's stock valued at $289,000 after acquiring an additional 180 shares in the last quarter. Private Trust Co. NA grew its stake in Freeport-McMoRan by 6.7% during the fourth quarter. Private Trust Co. NA now owns 3,119 shares of the natural resource company's stock valued at $158,000 after acquiring an additional 195 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its stake in Freeport-McMoRan by 0.3% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 64,438 shares of the natural resource company's stock valued at $3,273,000 after acquiring an additional 207 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

More Freeport-McMoRan News

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

• Positive Sentiment: Industry outlook pieces highlighted Freeport-McMoRan as a beneficiary of rising copper demand tied to AI infrastructure, power grids, and energy projects, which supports the longer-term investment case for FCX. Zacks Industry Outlook Highlights Southern Copper, Freeport-McMoRan and Lundin Mining
• Positive Sentiment: FCX was also mentioned in “best mining stocks” and “stocks to watch” lists, reflecting continued investor interest and a favorable view of its growth potential despite near-term industry headwinds. Freeport-McMoRan (FCX): The Best American Mining Stock to Buy Right Now
• Positive Sentiment: Analyst commentary noted that Citi and Jefferies remain constructive on FCX even after modest price-target cuts, indicating Wall Street still sees upside potential. Freeport-McMoRan (FCX): The Best American Mining Stock to Buy Right Now
• Neutral Sentiment: Freeport-McMoRan’s presentation at the Bank of America Global Metals, Mining & Steel Conference may provide investors with updates on strategy and operations, but no new catalyst was indicated in the headline. Freeport-McMoRan Inc. (FCX) Presents at Bank of America Global Metals, Mining & Steel Conference 2026 Transcript
• Negative Sentiment: The main near-term overhang is the reduced 2026 copper sales outlook after Grasberg disruptions, which directly affects production expectations and is likely weighing on FCX shares. Grasberg Disruptions Weigh on FCX's Q1 Volumes: What Lies Ahead?

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FCX shares. Jefferies Financial Group set a $75.00 price objective on shares of Freeport-McMoRan in a research note on Thursday, April 23rd. HSBC lifted their price objective on shares of Freeport-McMoRan from $69.00 to $72.00 and gave the stock a "buy" rating in a research note on Tuesday, April 14th. Wells Fargo & Company dropped their price objective on shares of Freeport-McMoRan from $77.00 to $68.00 and set an "overweight" rating for the company in a research note on Friday, April 24th. UBS Group lifted their price objective on shares of Freeport-McMoRan from $66.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Finally, Raymond James Financial dropped their price objective on shares of Freeport-McMoRan from $72.00 to $68.00 and set an "outperform" rating for the company in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Freeport-McMoRan presently has a consensus rating of "Moderate Buy" and an average price target of $65.14.

Freeport-McMoRan Stock Performance

Shares of NYSE:FCX opened at $63.02 on Monday. Freeport-McMoRan Inc. has a 52 week low of $35.15 and a 52 week high of $70.96. The stock has a market capitalization of $90.60 billion, a P/E ratio of 33.52, a PEG ratio of 0.76 and a beta of 1.32. The firm has a fifty day simple moving average of $61.45 and a two-hundred day simple moving average of $55.78. 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 (NYSE:FCX - Get Free Report) last released 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 analyst estimates of $5.73 billion. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The business's revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business earned $0.24 EPS. On average, analysts expect that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Wednesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is 15.96%.

Insider Activity

In other news, CAO Stephen T. Higgins sold 29,654 shares of the firm's stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $63.00, for a total value of $1,868,202.00. Following the completion of the sale, the chief accounting officer owned 76,445 shares in the company, valued at approximately $4,816,035. This trade represents a 27.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ellie L. Mikes sold 11,000 shares of the firm's stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $62.03, for a total transaction of $682,330.00. Following the completion of the sale, the chief accounting officer owned 40,773 shares of the company's stock, valued at $2,529,149.19. This trade represents a 21.25% decrease in their position. The SEC filing for this sale provides additional information. 0.75% of the stock is currently owned by company insiders.

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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