Villere ST Denis J & Co. LLC Sells 247,605 Shares of Freeport-McMoRan Inc. $FCX

Key Points

• Villere ST Denis J & Co. LLC reduced its Freeport-McMoRan stake by 34.3% in the first quarter, selling 247,605 shares and leaving it with 474,486 shares valued at about $27.9 million.
• Institutional ownership remains very high, with 80.77% of Freeport-McMoRan shares held by hedge funds and other institutional investors. Several major firms also boosted positions significantly in recent quarters.
• Wall Street sentiment is still generally positive: analysts have a Moderate Buy consensus rating and an average price target of $68.63, even after a few firms trimmed targets and Weiss Ratings downgraded the stock to hold.

Villere ST Denis J & Co. LLC cut its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 34.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 474,486 shares of the natural resource company's stock after selling 247,605 shares during the period. Freeport-McMoRan makes up 3.1% of Villere ST Denis J & Co. LLC's investment portfolio, making the stock its 9th biggest holding. Villere ST Denis J & Co. LLC's holdings in Freeport-McMoRan were worth $27,890,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of Freeport-McMoRan by 190.9% during 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 purchasing an additional 23,950,557 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Freeport-McMoRan by 98.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 19,973,108 shares of the natural resource company's stock valued at $1,014,434,000 after buying an additional 9,924,573 shares during the last quarter. Franklin Resources Inc. increased its stake in Freeport-McMoRan by 31.2% in the 4th quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company's stock valued at $1,897,202,000 after buying an additional 8,891,743 shares during the period. Amundi increased its stake in Freeport-McMoRan by 102.5% in the 4th quarter. Amundi now owns 14,211,579 shares of the natural resource company's stock valued at $721,806,000 after buying an additional 7,192,955 shares during the period. Finally, PointState Capital LP purchased a new position in Freeport-McMoRan during the 4th quarter worth $198,523,000. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wells Fargo & Company reduced their target price 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. CICC Research cut their price target on shares of Freeport-McMoRan from $64.40 to $63.40 and set an "outperform" rating for the company in a report on Tuesday, April 28th. Weiss Ratings downgraded shares of Freeport-McMoRan from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Freeport-McMoRan from $73.00 to $77.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Citigroup dropped their target price on Freeport-McMoRan from $67.00 to $66.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $68.63.

Freeport-McMoRan Price Performance

Shares of NYSE FCX traded up $0.91 during trading on Friday, hitting $61.44. 11,860,383 shares of the company were exchanged, compared to its average volume of 14,394,616. The company has a market cap of $88.32 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 0.62 and a beta of 1.37. Freeport-McMoRan Inc. has a 1 year low of $35.15 and a 1 year high of $72.28. The firm's fifty day moving average price is $63.85 and its 200 day moving average price is $61.66. 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 (NYSE:FCX - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share 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 analysts' expectations 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 for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 EPS. On average, sell-side analysts expect that Freeport-McMoRan Inc. will post 2.63 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, July 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 15.96%.

Key Stories Impacting Freeport-McMoRan

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

• Positive Sentiment: Bank of America raised its price target on Freeport-McMoRan to $80 from $74 and kept a buy rating, while JPMorgan lifted its target to $77 and maintained an overweight view, signaling stronger Wall Street confidence in FCX’s upside. Freeport-McMoRan NYSE: FCX Given New $80.00 Price Target at Bank of America
• Positive Sentiment: Scotiabank also increased its FY2026 EPS estimate for FCX to $3.01 from $2.60 and reiterated a Sector Outperform rating, reinforcing the view that earnings expectations are improving. Freeport-McMoRan Inc. NYSE: FCX
• Positive Sentiment: Recent coverage notes that copper demand remains strong due to electrification, grid expansion, and data center growth, which is supportive for Freeport-McMoRan as a major copper producer. Freeport McMoRan (FCX) Faces Grasberg Output Pressure As Copper Demand Stays Strong
• Neutral Sentiment: Analysts continue to flag FCX as a closely watched materials stock, and several articles highlight valuation debates and fair-value estimates rather than a major new catalyst. Is Freeport-McMoRan (FCX) Stock Cheap After The 2026 Guidance Cut?
• Neutral Sentiment: Freeport-McMoRan’s board declared a $0.15 per share cash dividend, which may appeal to income investors but is not a major surprise for the stock. Freeport-McMoRan (FCX) Declared A Cash Dividend, Is It Still 19% Undervalued?
• Negative Sentiment: There are also ongoing concerns about output pressure at the Grasberg mine, which could limit near-term production even as demand stays firm. Freeport McMoRan (FCX) Faces Grasberg Output Pressure As Copper Demand Stays Strong

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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