Key Points
- Richard Adkerson sold 152,960 shares of Freeport-McMoRan on Feb. 11 at an average price of $64.65 for a total of $9,888,864, leaving him with 3,356,159 shares (a 4.36% reduction, valued at roughly $216.98M).
- The filings show additional recent insider selling — Adkerson sold 248,031 shares on Feb. 10 (~$15.6M) and EVP Douglas N. Currault II sold 75,000 shares on Feb. 11 (~$4.84M) — which may weigh on sentiment despite executives still holding large stakes.
- Operationally, FCX beat quarterly estimates (EPS $0.47 vs. $0.28; revenue $5.63B vs. $5.42B), recently paid a reduced quarterly dividend of $0.075 (annualized $0.30, yield 0.5%), and carries a consensus analyst rating of Moderate Buy with an average target of $59.35 and several firms raising targets into the mid‑$60s to $70s.
Freeport-McMoRan Inc. (NYSE:FCX - Get Free Report) EVP Douglas Currault II sold 75,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $64.52, for a total transaction of $4,839,000.00. Following the sale, the executive vice president owned 219,181 shares of the company's stock, valued at $14,141,558.12. The trade was a 25.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Freeport-McMoRan Price Performance
Shares of NYSE:FCX opened at $65.41 on Thursday. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $69.44. The stock has a fifty day moving average of $55.25 and a 200-day moving average of $46.58. The company has a market capitalization of $93.92 billion, a PE ratio of 43.32, a price-to-earnings-growth ratio of 0.72 and a beta of 1.47. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 2.29.
Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.19. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The business had revenue of $5.63 billion for the quarter, compared to analysts' expectations of $5.42 billion. During the same period in the previous year, the firm posted $0.31 EPS. The company's quarterly revenue was down 1.5% on a year-over-year basis. As a group, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.
Freeport-McMoRan Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, January 15th. Freeport-McMoRan's payout ratio is presently 19.87%.
Hedge Funds Weigh In On Freeport-McMoRan
Several institutional investors and hedge funds have recently modified their holdings of the stock. Brighton Jones LLC boosted its position in Freeport-McMoRan by 24.2% during the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company's stock valued at $564,000 after purchasing an additional 2,882 shares during the last quarter. Bison Wealth LLC increased its position in Freeport-McMoRan by 5.6% in the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company's stock worth $366,000 after purchasing an additional 507 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Freeport-McMoRan during the 2nd quarter worth about $560,000. Concurrent Investment Advisors LLC lifted its holdings in shares of Freeport-McMoRan by 41.2% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 48,088 shares of the natural resource company's stock valued at $2,085,000 after buying an additional 14,033 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Freeport-McMoRan by 22.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 149,162 shares of the natural resource company's stock valued at $6,466,000 after buying an additional 27,570 shares in the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
FCX has been the topic of several analyst reports. Morgan Stanley set a $70.00 target price on shares of Freeport-McMoRan in a research report on Tuesday, January 27th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Freeport-McMoRan in a research note on Thursday, January 22nd. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and boosted their target price for the company from $53.50 to $54.00 in a research note on Friday, January 23rd. Wells Fargo & Company raised their target price on Freeport-McMoRan from $55.00 to $64.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 13th. Finally, UBS Group lifted their price target on Freeport-McMoRan from $60.00 to $70.00 and gave the company a "buy" rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Freeport-McMoRan has an average rating of "Moderate Buy" and a consensus price target of $59.35.
View Our Latest Stock Report on FCX
Key Headlines Impacting Freeport-McMoRan
Here are the key news stories impacting Freeport-McMoRan this week:
- Positive Sentiment: Stifel Nicolaus raised its price target on FCX from $52 to $76 and kept a "buy" rating, implying additional upside and lending broker confidence to the stock. BayStreet.CA
- Positive Sentiment: Zacks reports that earnings estimate revisions for Freeport have trended higher (surging estimates), suggesting upward earnings momentum that can justify higher multiples and support near-term share gains. Surging Earnings Estimates Signal Upside
- Neutral Sentiment: Multiple Zacks pieces and sector comparisons are increasing investor attention on FCX (coverage on relative performance, value thesis and peer comparisons). This broader visibility can amplify moves but is informational rather than a direct catalyst. FCX Attracting Investor Attention
- Negative Sentiment: Chairman Richard C. Adkerson sold 152,960 shares on Feb. 11 at an average ~$64.65 (≈$9.9M). Large insider sales can pressure sentiment despite company fundamentals; the filing is available on the SEC site. Adkerson Feb 11 SEC Filing
- Negative Sentiment: Chairman Richard C. Adkerson also sold 248,031 shares on Feb. 10 at an average ~$62.80 (≈$15.6M), a separate large disposition disclosed in SEC filings. Adkerson Feb 10 SEC Filing
- Negative Sentiment: EVP Douglas N. Currault II sold 75,000 shares on Feb. 11 at ~$64.52 (≈$4.84M). While meaningful in size, executives still retain large holdings, which partly mitigates long-term governance concerns. Currault Feb 11 SEC Filing
Freeport-McMoRan Company Profile
(
Get Free Report)
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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