Longbow Finance SA Sells 22,035 Shares of Freeport-McMoRan Inc. $FCX

Longbow Finance SA cut its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 207,192 shares of the natural resource company’s stock after selling 22,035 shares during the period. Longbow Finance SA’s holdings in Freeport-McMoRan were worth $8,126,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Missouri Trust & Investment Co boosted its position in Freeport-McMoRan by 22.9% in the 3rd quarter. Missouri Trust & Investment Co now owns 8,860 shares of the natural resource company’s stock valued at $347,000 after buying an additional 1,650 shares during the period. Metis Global Partners LLC increased its position in shares of Freeport-McMoRan by 3.2% during the third quarter. Metis Global Partners LLC now owns 169,160 shares of the natural resource company’s stock worth $6,634,000 after acquiring an additional 5,306 shares during the period. Assetmark Inc. raised its stake in shares of Freeport-McMoRan by 10.0% during the third quarter. Assetmark Inc. now owns 126,124 shares of the natural resource company’s stock valued at $4,947,000 after acquiring an additional 11,447 shares in the last quarter. Mraz Amerine & Associates Inc. boosted its holdings in shares of Freeport-McMoRan by 0.9% in the third quarter. Mraz Amerine & Associates Inc. now owns 58,079 shares of the natural resource company’s stock valued at $2,278,000 after purchasing an additional 519 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in Freeport-McMoRan by 635.3% in the third quarter. Public Sector Pension Investment Board now owns 801,584 shares of the natural resource company’s stock worth $31,438,000 after purchasing an additional 692,567 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

More Freeport-McMoRan News

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

• Positive Sentiment: Stifel Nicolaus raised its price target on FCX to $76 and kept a “buy” rating, signaling fresh analyst conviction and upside potential that can support the stock. Read More.
• Positive Sentiment: Zacks highlights that recent upward revisions to Freeport’s earnings estimates (surging estimates) create near?term upside potential and help justify higher multiples. Read More.
• Positive Sentiment: Zacks also profiles FCX as a momentum/long?term idea — increased coverage and momentum narratives can attract flows into the shares. Read More.
• Neutral Sentiment: Commentary asks whether it’s “too late” to buy after a large one?year rally — useful for framing risk/reward but not a direct catalyst. Read More.
• Negative Sentiment: Zacks reports Grasberg setbacks led to a sharp Q4 volume decline, cutting copper and gold sales despite higher realized prices — an operational headwind that can pressure near?term revenue and investor sentiment. Read More.
• Negative Sentiment: Chairman Richard Adkerson sold large blocks over Feb. 10–11 (combined millions of dollars), which can sap sentiment and raise short?term selling pressure. Read More.
• Negative Sentiment: EVP Douglas Currault II sold 75,000 shares (~$4.84M) on Feb. 11; while insiders still hold sizable stakes, the sales add to near?term supply concerns. Read More.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FCX shares. Citigroup lifted their target price on Freeport-McMoRan from $48.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Wells Fargo & Company lifted their price objective on Freeport-McMoRan from $55.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. BNP Paribas Exane decreased their price objective on Freeport-McMoRan from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, December 5th. Morgan Stanley set a $70.00 target price on shares of Freeport-McMoRan in a report on Tuesday, January 27th. Finally, Stifel Nicolaus boosted their price target on shares of Freeport-McMoRan from $52.00 to $76.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.35.

Freeport-McMoRan Price Performance

FCX opened at $62.01 on Friday. The firm has a market capitalization of $89.03 billion, a PE ratio of 41.06, a price-to-earnings-growth ratio of 0.74 and a beta of 1.47. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.29 and a quick ratio of 1.05. The business’s 50-day moving average is $55.59 and its two-hundred day moving average is $46.68. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $69.44.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, January 22nd. The natural resource company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.28 by $0.19. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The business had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same period in the prior year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. Research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, January 15th. Freeport-McMoRan’s payout ratio is currently 19.87%.

Insiders Place Their Bets

In related news, CAO Stephen T. Higgins sold 28,423 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer directly owned 105,294 shares of the company’s stock, valued at $5,053,059.06. This represents a 21.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Ellie L. Mikes sold 9,572 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $47.66, for a total value of $456,201.52. Following the completion of the sale, the chief accounting officer directly owned 38,761 shares of the company’s stock, valued at approximately $1,847,349.26. This represents a 19.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 513,986 shares of company stock valued at $32,124,432. Company insiders own 0.75% of the company’s stock.

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.