Teacher Retirement System of Texas Increases Holdings in Freeport-McMoRan Inc. $FCX

Key Points

• Teacher Retirement System of Texas raised its stake in Freeport‑McMoRan by 16.5% in Q4, buying 36,662 shares to hold 258,331 shares valued at about $13.12 million.
• Freeport reported a Q1 EPS beat ($0.57 vs. $0.47) and ~8.8% YoY revenue growth, but management cut 2026 copper sales guidance after a slower Grasberg ramp, which pressured the stock and led to some analyst downgrades.
• Institutional ownership is high at roughly 80.8%, while insiders have been net sellers (565,145 shares sold in the last 90 days); analysts remain mixed with a consensus "Moderate Buy" target of $65.66.

Teacher Retirement System of Texas increased its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 16.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 258,331 shares of the natural resource company's stock after buying an additional 36,662 shares during the period. Teacher Retirement System of Texas' holdings in Freeport-McMoRan were worth $13,121,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of FCX. Wellington Management Group LLP raised its stake in 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 in the last quarter. AQR Capital Management LLC raised its stake in 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 in the last quarter. Amundi raised its stake in 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 in the last quarter. Kirkoswald Asset Management LLC bought a new position in Freeport-McMoRan in the third quarter worth approximately $82,754,200,000. Finally, Schroder Investment Management Group raised its stake in 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 in the last quarter. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $61.12 on Friday. The business's fifty day simple moving average is $62.47 and its 200-day simple moving average is $53.78. The company has a market cap of $87.83 billion, a PE ratio of 32.51, a PEG ratio of 0.71 and a beta of 1.48. The company has a current ratio of 2.39, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28. Freeport-McMoRan Inc. has a 12-month low of $34.45 and a 12-month high of $70.96.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.10. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $6.40 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The business's quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 earnings per share. Analysts expect that Freeport-McMoRan Inc. will post 2.54 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. Freeport-McMoRan's dividend payout ratio is presently 19.87%.

Trending Headlines about Freeport-McMoRan

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

• Positive Sentiment: Q1 beat and cash support — FCX reported stronger‑than‑expected Q1 results (EPS $0.57 vs. ~$0.47 est.) with revenue up ~8.7% YoY; management noted higher realized commodity prices and a ~$700M insurance payment that helped results. Freeport-McMoRan: Less Copper Supply Isn't All Bad
• Positive Sentiment: Analyst upgrade — UBS raised its price target to $74 and kept a Buy rating, signaling upside based on commodity outlook and valuation. UBS Lifts Price Target on Freeport-McMoRan to $74
• Neutral Sentiment: Market/valuation debate — Several pieces question whether current share price already reflects copper optimism and the recent volatility; investors should weigh the outlook for copper prices vs. reduced volumes. Is Freeport-McMoRan (FCX) Pricing Fully Reflects Recent Copper Optimism And Share Volatility
• Neutral Sentiment: Company materials and call — The earnings presentation and transcript are available for review (useful for guidance detail, cost outlook and timing for Grasberg ramp). Freeport-McMoRan Inc. (FCX) Q1 2026 Earnings Call Transcript
• Negative Sentiment: Grasberg production setbacks — Management cut 2026 copper sales guidance (roughly a 300M lb reduction cited) after a slower Grasberg ramp following last year’s incident; lower volumes directly pressure near‑term revenue and triggered the sell‑off. Freeport McMoRan falls as Grasberg delay cuts 2026 output outlook
• Negative Sentiment: Analyst downgrades and target cuts — Multiple firms trimmed targets or ratings (Morgan Stanley downgraded to Equal Weight and cut its PT; others cut targets or estimates), increasing near‑term selling pressure despite some boutiques still bullish. Morgan Stanley Downgrades Freeport-McMoRan Bernstein Adjusts Price Target on Freeport-McMoRan
• Negative Sentiment: Stock reaction — The market punished FCX on the combination of the production cut and uncertain Grasberg timing (reports of a ~10% intraday drop were published), showing sensitivity to volume risk even with strong commodity prices. Freeport-McMoRan (FCX) Stock Plunges 10% After Slashing Production Forecasts

Insider Buying and Selling at Freeport-McMoRan

In related news, CFO Maree E. Robertson sold 48,500 shares of the company's stock in a transaction on Friday, February 13th. The stock was sold at an average price of $61.55, for a total value of $2,985,175.00. Following the transaction, the chief financial officer directly owned 79,894 shares of the company's stock, valued at $4,917,475.70. This represents a 37.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $1,868,202.00. Following the completion of the transaction, the chief accounting officer directly owned 76,445 shares in the company, valued at approximately $4,816,035. The trade was a 27.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 565,145 shares of company stock valued at $35,839,918. Corporate insiders own 0.75% of the company's stock.

Analyst Upgrades and Downgrades

FCX has been the subject of a number of recent research reports. Scotiabank reduced their price objective on shares of Freeport-McMoRan from $71.00 to $67.00 and set a "sector perform" rating for the company in a research note on Friday. Argus raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating in a research note on Friday, February 13th. Freedom Capital raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Saturday, February 21st. HSBC boosted 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. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $66.00 price target (down from $70.00) on shares of Freeport-McMoRan in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Freeport-McMoRan currently has an average rating of "Moderate Buy" and a consensus target price of $65.66.

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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