Keybank National Association OH Raises Stock Position in Freeport-McMoRan Inc. $FCX

Key Points

• KeyBank National Association OH increased its stake in Freeport‑McMoRan by 1.2% to 2,349,630 shares (about $119.34M), and institutional investors now own roughly 80.77% of FCX.
• Freeport beat quarterly estimates with EPS of $0.57 (vs. $0.47) and revenue of $6.23B (vs. $5.73B), and declared a quarterly dividend of $0.075 (annualized $0.30, ~0.5% yield).
• Several brokers have trimmed price targets (consensus remains a "Moderate Buy" with a $65.19 target), while insiders have sold about 565,145 shares (~$35.8M) in the past 90 days.

Keybank National Association OH boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,349,630 shares of the natural resource company's stock after acquiring an additional 27,697 shares during the period. Keybank National Association OH owned 0.16% of Freeport-McMoRan worth $119,338,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Steigerwald Gordon & Koch Inc. bought a new stake in Freeport-McMoRan during the third quarter valued at approximately $25,000. Salomon & Ludwin LLC lifted its position in Freeport-McMoRan by 1,962.9% during the third quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company's stock valued at $29,000 after purchasing an additional 687 shares during the last quarter. JPL Wealth Management LLC bought a new stake in Freeport-McMoRan during the third quarter valued at approximately $33,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Freeport-McMoRan during the third quarter valued at approximately $36,000. Finally, Proffitt & Goodson Inc. lifted its position in Freeport-McMoRan by 39.8% during the third quarter. Proffitt & Goodson Inc. now owns 977 shares of the natural resource company's stock valued at $38,000 after purchasing an additional 278 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Trading Down 3.9%

NYSE:FCX opened at $58.20 on Wednesday. The company has a fifty day moving average of $62.37 and a 200 day moving average of $54.20. Freeport-McMoRan Inc. has a 52 week low of $34.45 and a 52 week high of $70.96. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $83.64 billion, a P/E ratio of 30.95, a P/E/G ratio of 0.78 and a beta of 1.48.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The company had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.73 billion. During the same period in the prior year, the business posted $0.24 EPS. The firm's revenue was up 8.8% compared to the same quarter last year. On average, research analysts predict that Freeport-McMoRan Inc. will post 2.37 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Wednesday, April 15th. Freeport-McMoRan's dividend payout ratio is currently 15.96%.

More Freeport-McMoRan News

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

• Positive Sentiment: Zacks published a bullish piece highlighting Freeport as a long‑term growth stock, reinforcing the company's attractive fundamentals and growth story for buy‑and‑hold investors. Why Freeport-McMoRan (FCX) is a Top Growth Stock for the Long-Term
• Neutral Sentiment: The Globe and Mail ran an analyst roundup on materials names including Freeport, offering context but no major new guidance — useful for sentiment but not a clear catalyst. Analysts Offer Insights on Materials Companies: Freeport-McMoRan (FCX) and Newmont Mining (NEM)
• Neutral Sentiment: News about high‑grade copper results at another junior miner (Max Resource) is industry‑level news but not directly related to Freeport’s operations or near‑term cash flow, so it’s unlikely to move FCX materially. Max Reports High-Grade Channel Results at Its Sierra Azul Project
• Negative Sentiment: JPMorgan trimmed its price target to $73 from $76 but kept an Overweight rating — a modest negative signal that likely contributed to downward pressure by reducing upside expectations. JPMorgan adjusts PT on Freeport-McMoRan to $73 from $76; maintains Overweight
• Negative Sentiment: BNP Paribas Exane cut its target to $71 from $75 while keeping an Outperform rating — another downward adjustment to consensus upside that can pressure shares. BNP Paribas adjusts price target on Freeport-McMoRan to $71 from $75; maintains Outperform
• Negative Sentiment: CICC Research lowered its target slightly to $63.40 from $64.40 (retaining Outperform) — another marginal cut that adds to the theme of moderated analyst upside. CICC adjusts price target on Freeport-McMoRan to $63.40 from $64.40; maintains Outperform Tickerreport

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FCX. Morgan Stanley reiterated an "equal weight" rating and set a $66.00 target price (down from $70.00) on shares of Freeport-McMoRan in a research report on Friday. Jefferies Financial Group set a $75.00 target price on shares of Freeport-McMoRan in a research report on Thursday, April 23rd. Wall Street Zen lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Saturday, February 14th. UBS Group lifted their target price on shares of Freeport-McMoRan from $66.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Finally, The Goldman Sachs Group dropped their target price on shares of Freeport-McMoRan from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $65.19.

Insider Activity at Freeport-McMoRan

In related news, CAO Stephen T. Higgins sold 29,654 shares of the company's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $63.00, for a total transaction of $1,868,202.00. Following the completion of the sale, the chief accounting officer directly owned 76,445 shares in the company, valued at $4,816,035. This represents a 27.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Maree E. Robertson sold 48,500 shares of the company's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $61.55, for a total transaction of $2,985,175.00. Following the sale, the chief financial officer owned 79,894 shares of the company's stock, valued at $4,917,475.70. This represents a 37.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 565,145 shares of company stock worth $35,839,918 over the last ninety days. Insiders own 0.79% of the company's stock.

Freeport-McMoRan Company 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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