Royce & Associates LP Sells 24,000 Shares of Freeport-McMoRan Inc. $FCX

Key Points

• Royce & Associates LP cut its Freeport-McMoRan stake by 26.7% in the fourth quarter, selling 24,000 shares and leaving it with 66,000 shares worth about $3.35 million.
• Freeport-McMoRan posted stronger-than-expected quarterly results, with earnings of $0.57 per share versus $0.47 expected and revenue of $6.23 billion, up 8.8% year over year.
• Analysts remain broadly positive on FCX, with a consensus rating of Moderate Buy and an average target price of $65.72, though some note near-term pressure from the slower recovery at the Grasberg complex in Indonesia.

Royce & Associates LP reduced its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 26.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 66,000 shares of the natural resource company's stock after selling 24,000 shares during the quarter. Royce & Associates LP's holdings in Freeport-McMoRan were worth $3,352,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in shares of Freeport-McMoRan by 190.9% in the third quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company's stock worth $1,431,326,000 after buying an additional 23,950,557 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Freeport-McMoRan by 205.0% in the second quarter. AQR Capital Management LLC now owns 4,186,621 shares of the natural resource company's stock worth $181,490,000 after buying an additional 2,813,845 shares during the last quarter. Amundi boosted its holdings in shares of Freeport-McMoRan by 43.7% in the third quarter. Amundi now owns 7,018,624 shares of the natural resource company's stock worth $282,991,000 after buying an additional 2,132,708 shares during the last quarter. Kirkoswald Asset Management LLC purchased a new position in shares of Freeport-McMoRan in the third quarter worth approximately $82,754,200,000. Finally, Schroder Investment Management Group boosted its holdings in shares of Freeport-McMoRan by 87.6% in the third quarter. Schroder Investment Management Group now owns 4,115,008 shares of the natural resource company's stock worth $152,749,000 after buying an additional 1,921,792 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Key Freeport-McMoRan News

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

• Positive Sentiment: FCX is benefiting from renewed optimism around the electrification boom, with analysts highlighting its copper-focused business and Barclays’ recent Overweight rating and $77 price target. Why Wall Street Sees Freeport-McMoRan (FCX) Benefiting From The Electrification Boom
• Positive Sentiment: Investor sentiment has also been supported by strong recent share performance, with articles pointing to FCX’s large 1-year and year-to-date gains as evidence that the market is still rewarding the stock’s copper leverage. Reassessing Freeport McMoRan (FCX) Valuation After A Strong 1 Year Return Attracts Renewed Investor Attention
• Positive Sentiment: Some coverage argues FCX remains attractive on long-term fundamentals, citing a discounted valuation, resilient U.S. operations, and an expansion pipeline that could support earnings growth. Freeport-McMoRan: Robust Pipeline And Significant Long-Term Potential Make It A Buy
• Neutral Sentiment: Several recent articles simply note that FCX is attracting more investor and trader attention, which may reflect growing interest but does not by itself signal a major new catalyst. Freeport-McMoRan Inc. (FCX) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: FCX has also been mentioned in lists of top-performing silver and gold stocks, reinforcing its commodity exposure, but these pieces are mostly descriptive rather than clearly stock-moving. Is Freeport-McMoRan Inc. (FCX) Among the Best Performing Silver Stocks So Far in 2026?
• Negative Sentiment: A potential headwind remains the slower-than-expected recovery at the Grasberg copper and gold complex in Indonesia, which could weigh on near-term production expectations and sentiment. Is Freeport-McMoRan Inc. (FCX) Among the Best Performing Silver Stocks So Far in 2026?

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $65.70 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. Freeport-McMoRan Inc. has a 1-year low of $35.15 and a 1-year high of $70.96. The company has a market capitalization of $94.45 billion, a P/E ratio of 34.95, a P/E/G ratio of 0.79 and a beta of 1.32. The firm's 50 day simple moving average is $62.11 and its two-hundred day simple moving average is $57.21.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The company's revenue for the quarter was up 8.8% on a year-over-year basis. Research analysts expect that Freeport-McMoRan Inc. will post 2.56 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FCX shares. Jefferies Financial Group set a $75.00 price objective on shares of Freeport-McMoRan in a report on Thursday, April 23rd. Raymond James Financial dropped their price objective on shares of Freeport-McMoRan from $72.00 to $68.00 and set an "outperform" rating on the stock in a report on Friday, April 24th. HSBC raised their price objective on shares of Freeport-McMoRan from $69.00 to $72.00 and gave the stock a "buy" rating in a report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Freeport-McMoRan in a report on Friday, May 15th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Freeport-McMoRan from $76.00 to $73.00 and set an "overweight" rating on the stock in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $65.72.

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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