Freeport-McMoRan (NYSE:FCX) Trading Up 1.1% Following Dividend Announcement

Shares of Freeport-McMoRan Inc. (NYSE:FCX) were up 1.1% during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as $58.15 and last traded at $57.1190. Approximately 13,752,855 shares traded hands during trading, a decline of 35% from the average daily volume of 21,269,555 shares. The stock had previously closed at $56.48.

The newly announced dividend which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, April 15th. Freeport-McMoRan’s dividend payout ratio is 19.87%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $53.50 to $54.00 in a report on Friday, January 23rd. Argus raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Friday, February 13th. BMO Capital Markets lifted their price objective on Freeport-McMoRan from $55.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. UBS Group lifted their price objective on Freeport-McMoRan from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Finally, Citigroup upped their target price on Freeport-McMoRan from $48.00 to $67.00 and gave the company a “buy” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Freeport-McMoRan presently has an average rating of “Moderate Buy” and a consensus price target of $62.59.

Freeport-McMoRan Trading Up 1.1%

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 stock’s 50 day moving average is $61.53 and its 200-day moving average is $50.48. The company has a market capitalization of $82.09 billion, a P/E ratio of 37.83, a P/E/G ratio of 0.64 and a beta of 1.41.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share for the quarter, beating the consensus estimate 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 business’s revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Trending Headlines about Freeport-McMoRan

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

• Positive Sentiment: Board declares a $0.15/share cash dividend (base $0.075 + variable $0.075) payable May 1, record April 15; reinforces shareholder return policy and signals management confidence in cash flow. Freeport Declares Quarterly Cash Dividends on Common Stock
• Positive Sentiment: Industrial metals prices rose after reports the U.S. launched a diplomatic push to end the Middle East conflict; higher copper/metal prices support Freeport’s revenue outlook. Industrial metals rise as U.S. launches diplomatic push to end Middle East war
• Positive Sentiment: Freeport’s CEO publicly expressed confidence in long-term copper demand despite the Iran conflict—helps reassure investors about underlying demand fundamentals. Freeport-McMoRan confident in copper demand despite Iran conflict, CEO says
• Positive Sentiment: Analyst coverage remains constructive—brokerages give an average “Moderate Buy” rating, supporting investor interest. Freeport-McMoRan Inc. (NYSE:FCX) Given Average Rating of “Moderate Buy” by Brokerages
• Positive Sentiment: Several bullish commentaries view recent FCX drawdown as a buying opportunity, which can attract value-focused inflows. Freeport-McMoRan: The Drawdown Is A Gift
• Neutral Sentiment: Market coverage noted a recent intraday advance (+2.8%) in FCX as markets reacted—useful context but descriptive rather than a driver. Freeport Declares Quarterly Cash Dividends on Common Stock
• Negative Sentiment: Coverage calling FCX a “fallen angel” unfairly hit by the Iran war underscores persistent geopolitical risk that can pressure the stock while uncertainty remains. FCX, WCN, and TDG are some of the ‘fallen angel’ stocks unfairly impacted by Iran war – DCLA

Insiders Place Their Bets

In other news, CAO Stephen T. Higgins sold 29,654 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 76,445 shares of the company’s stock, valued at $4,816,035. This represents a 27.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ellie L. Mikes sold 11,000 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $62.03, for a total transaction of $682,330.00. Following the completion of the transaction, the chief accounting officer owned 40,773 shares of the company’s stock, valued at approximately $2,529,149.19. The trade was a 21.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 565,145 shares of company stock valued at $35,839,918 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Freeport-McMoRan

Hedge funds and other institutional investors have recently bought and sold shares of the business. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Freeport-McMoRan in the 3rd quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new position in Freeport-McMoRan during the fourth quarter valued at $25,000. Twin Peaks Wealth Advisors LLC bought a new stake in Freeport-McMoRan in the second quarter worth $28,000. Salomon & Ludwin LLC grew its stake in shares of Freeport-McMoRan by 1,962.9% in the third quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company’s stock worth $29,000 after acquiring an additional 687 shares during the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Freeport-McMoRan in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

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.