Hosking Partners LLP Has $80.32 Million Stock Holdings in Freeport-McMoRan Inc. $FCX

Key Points

• Hosking Partners LLP increased its stake in Freeport-McMoRan by 3.5% in the fourth quarter, bringing its holdings to 1,581,426 shares worth about $80.3 million. The stock now represents roughly 2.7% of the fund’s portfolio and is its 9th-largest holding.
• Freeport-McMoRan beat expectations in its latest earnings report, posting $0.57 EPS versus the $0.47 consensus and revenue of $6.23 billion versus $5.73 billion expected. Revenue rose 8.8% year over year, and analysts now forecast full-year EPS of 2.56.
• Analyst sentiment remains mostly positive, but near-term concerns persist. Recent reports point to higher costs and softer production weighing on upside, even as some firms raised ratings and the stock’s longer-term outlook is supported by the Grasberg mine restart story.

Hosking Partners LLP boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,581,426 shares of the natural resource company's stock after buying an additional 54,166 shares during the period. Freeport-McMoRan makes up about 2.7% of Hosking Partners LLP's portfolio, making the stock its 9th biggest holding. Hosking Partners LLP owned about 0.11% of Freeport-McMoRan worth $80,321,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FCX. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Freeport-McMoRan during the 3rd quarter worth approximately $25,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at $38,000. JPL Wealth Management LLC purchased a new position in shares of Freeport-McMoRan in the 3rd quarter valued at $33,000. Laurel Wealth Advisors LLC purchased a new position in shares of Freeport-McMoRan in the 4th quarter valued at $43,000. Finally, YANKCOM Partnership increased its holdings in shares of Freeport-McMoRan by 83.3% in the 4th quarter. YANKCOM Partnership now owns 869 shares of the natural resource company's stock valued at $44,000 after acquiring an additional 395 shares during the period. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Trading Up 0.0%

Shares of Freeport-McMoRan stock opened at $61.65 on Monday. The firm has a market capitalization of $88.60 billion, a price-to-earnings ratio of 32.79, a PEG ratio of 0.74 and a beta of 1.32. Freeport-McMoRan Inc. has a fifty-two week low of $35.15 and a fifty-two week high of $70.96. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. The stock has a 50 day moving average of $61.79 and a 200 day moving average of $54.79.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.47 by $0.10. The business had revenue of $6.23 billion during 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 company's quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $0.24 earnings per share. As a group, research analysts predict that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

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

Insider Buying and Selling

In other Freeport-McMoRan news, EVP Douglas N. Currault II sold 75,000 shares of the firm's stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $64.52, for a total value of $4,839,000.00. Following the sale, the executive vice president directly owned 219,181 shares in the company, valued at $14,141,558.12. This trade represents a 25.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Stephen T. Higgins sold 29,654 shares of Freeport-McMoRan stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $63.00, for a total value of $1,868,202.00. Following the sale, the chief accounting officer owned 76,445 shares in the company, valued at $4,816,035. This trade represents a 27.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 565,145 shares of company stock valued at $35,839,918 over the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

Key Freeport-McMoRan News

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

• Positive Sentiment: Zacks Research lifted earnings estimates for multiple future periods, signaling a stronger profit outlook for Freeport-McMoRan.
• Positive Sentiment: Reports that the Grasberg mine may return to full production in 2028 support the longer-term copper production story for FCX.
• Neutral Sentiment: The stock’s recent six-month gain reflects stronger copper prices and earnings, but this move may already reflect much of the optimism. Article Title
• Negative Sentiment: Higher costs and softer production volumes could pressure near-term results and limit upside in FCX shares. Article Title

Wall Street Analyst Weigh In

FCX has been the topic of several recent analyst reports. Freedom Capital raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Saturday, February 21st. Wall Street Zen downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Saturday, February 14th. HSBC upped their target price on Freeport-McMoRan from $69.00 to $72.00 and gave the stock a "buy" rating in a research note on Tuesday, April 14th. Raymond James Financial reduced their price target on Freeport-McMoRan from $72.00 to $68.00 and set an "outperform" rating for the company in a report on Friday, April 24th. Finally, Wells Fargo & Company decreased their target price on Freeport-McMoRan from $77.00 to $68.00 and set an "overweight" rating on the stock in a research report 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $65.14.

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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