Leibman Financial Services Inc. Decreases Position in Freeport-McMoRan Inc. $FCX

Leibman Financial Services Inc. reduced its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 11.0% during the 3rd quarter, Holdings Channel reports. The fund owned 85,900 shares of the natural resource company’s stock after selling 10,645 shares during the quarter. Freeport-McMoRan makes up approximately 2.5% of Leibman Financial Services Inc.’s investment portfolio, making the stock its 16th biggest position. Leibman Financial Services Inc.’s holdings in Freeport-McMoRan were worth $3,369,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC acquired a new stake in Freeport-McMoRan in the 2nd quarter valued at about $28,000. Beacon Capital Management LLC grew its holdings in Freeport-McMoRan by 59.6% during the 2nd quarter. Beacon Capital Management LLC now owns 876 shares of the natural resource company’s stock worth $38,000 after acquiring an additional 327 shares in the last quarter. MTM Investment Management LLC purchased a new stake in shares of Freeport-McMoRan during the 2nd quarter worth $43,000. Hilltop National Bank purchased a new stake in shares of Freeport-McMoRan during the 2nd quarter worth $43,000. Finally, NewSquare Capital LLC grew its stake in shares of Freeport-McMoRan by 74.9% during the second quarter. NewSquare Capital LLC now owns 1,002 shares of the natural resource company’s stock worth $43,000 after purchasing an additional 429 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $51.44 on Tuesday. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $53.76. The stock has a market capitalization of $73.86 billion, a price-to-earnings ratio of 36.22, a PEG ratio of 1.20 and a beta of 1.49. The company has a 50-day simple moving average of $43.75 and a 200-day simple moving average of $43.20. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.19 and a current ratio of 2.45.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.09. The firm had revenue of $6.97 billion for the quarter, compared to analysts’ expectations of $6.74 billion. Freeport-McMoRan had a return on equity of 7.84% and a net margin of 7.97%.The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. On average, analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Thursday, January 15th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, January 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 21.13%.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 9,572 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $47.66, for a total transaction of $456,201.52. Following the completion of the transaction, the chief accounting officer owned 38,761 shares in the company, valued at approximately $1,847,349.26. This represents a 19.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Stephen T. Higgins sold 28,423 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $47.99, for a total transaction of $1,364,019.77. Following the completion of the sale, the chief accounting officer owned 105,294 shares of the company’s stock, valued at $5,053,059.06. This trade represents a 21.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

FCX has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their price target on Freeport-McMoRan from $47.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, December 23rd. CICC Research decreased their target price on Freeport-McMoRan from $51.60 to $42.30 and set an “outperform” rating for the company in a research note on Friday, September 26th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Freeport-McMoRan in a research note on Wednesday, November 26th. Citigroup raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Wednesday, October 8th. Finally, Clarkson Capital upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a report on Wednesday, November 19th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $49.49.

Freeport-McMoRan News Roundup

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

• Positive Sentiment: Zacks: FCX has jumped ~35% over the past three months on a surge in copper prices and reported progress at the Grasberg mine, which supports earnings and cash flow expectations. Freeport Stock Rises 35% in 3 Months: What’s Driving the Rally?
• Positive Sentiment: InsiderMonkey: Short?term gains as copper pushed to fresh highs lifted FCX (up ~8% in a recent week), underscoring commodity exposure as the main bullish catalyst. Freeport-McMoRan (FCX) Climbs 8% on Copper Jump to Fresh High
• Neutral Sentiment: InsiderMonkey included FCX on a list of holiday “big winners,” reflecting strong market interest but not new company?specific news. Big Winners: 10 Stocks Refusing to take a Holiday
• Negative Sentiment: Yahoo Finance: Company insiders sold roughly US$2.2M of FCX shares recently — a signal some investors read as management hesitation and a potential headwind for sentiment. Freeport-McMoRan Insiders Sold US$2.2m Of Shares Suggesting Hesitancy
• Negative Sentiment: Multiple law firms (Levi & Korsinsky, Schall, Frank R. Cruz, Bronstein Gewirtz & Grossman, Robbins Geller, Faruqi & Faruqi, etc.) have announced or are soliciting plaintiffs in class?action suits alleging securities violations related to FCX for the Feb?2022 to Sep?2025 period — a cluster of filings that increases legal uncertainty and could pressure the stock until resolved. Representative notice: Shareholders that lost money on Freeport-McMoRan Inc.(FCX) Urged to Join Class Action – Contact Levi & Korsinsky to Learn More
• Negative Sentiment: Benzinga technical note: shares have stalled near the ~$53 resistance area and analysts warn of a potential short?term sell?off if momentum fails to hold — increasing the chance of profit?taking after the recent rally. Stock Of The Day – Is Freeport-McMoRan About To Sell-off?

About Freeport-McMoRan

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.