Freeport-McMoRan Inc. $FCX Stock: Maryland State Retirement & Pension System Increases Stake

Maryland State Retirement & Pension System lifted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 13.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,545 shares of the natural resource company’s stock after acquiring an additional 10,670 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Freeport-McMoRan were worth $6,128,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Joel Isaacson & Co. LLC bought a new position in Freeport-McMoRan in the 3rd quarter worth $239,000. First Command Advisory Services Inc. raised its holdings in Freeport-McMoRan by 107.7% during the third quarter. First Command Advisory Services Inc. now owns 1,275 shares of the natural resource company’s stock valued at $89,000 after acquiring an additional 661 shares during the period. Silver Grove Financial Group Inc. raised its holdings in Freeport-McMoRan by 46.7% during the third quarter. Silver Grove Financial Group Inc. now owns 2,326 shares of the natural resource company’s stock valued at $163,000 after acquiring an additional 740 shares during the period. Knights of Columbus Asset Advisors LLC lifted its position in shares of Freeport-McMoRan by 33.8% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 62,218 shares of the natural resource company’s stock valued at $4,355,000 after acquiring an additional 15,700 shares in the last quarter. Finally, Csenge Advisory Group lifted its position in shares of Freeport-McMoRan by 20.7% in the third quarter. Csenge Advisory Group now owns 51,722 shares of the natural resource company’s stock valued at $3,621,000 after acquiring an additional 8,884 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX opened at $60.50 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 2.02. The company has a market cap of $86.88 billion, a P/E ratio of 25.42, a P/E/G ratio of 0.57 and a beta of 1.38. The firm’s fifty day moving average is $68.77 and its two-hundred day moving average is $65.29. Freeport-McMoRan Inc. has a 52-week low of $38.85 and a 52-week high of $80.24.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Tuesday, October 27th. The natural resource company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.82 by $0.06. Freeport-McMoRan had a net margin of 13.03% and a return on equity of 12.09%. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.36 billion. During the same quarter in the previous year, the company earned $0.50 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, analysts anticipate that Freeport-McMoRan Inc. will post 3.05 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th were issued a $0.0750 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, October 15th. Freeport-McMoRan’s payout ratio is 12.61%.

Analysts Set New Price Targets

FCX has been the subject of a number of recent analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Freeport-McMoRan in a research note on Thursday, September 10th. BMO Capital Markets lifted their target price on Freeport-McMoRan from $78.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, September 29th. Morgan Stanley boosted their price target on Freeport-McMoRan from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 7th. Royal Bank Of Canada boosted their price target on Freeport-McMoRan from $73.00 to $85.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 16th. Finally, Freedom Broker dropped their price target on Freeport-McMoRan from $75.00 to $68.00 and set a “hold” rating for the company in a research note on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $75.30.

Insider Transactions at Freeport-McMoRan

In related news, EVP Douglas Currault, II sold 80,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $78.56, for a total value of $6,284,800.00. Following the sale, the executive vice president directly owned 211,016 shares in the company, valued at approximately $16,577,416.96. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lydia Kennard sold 3,798 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $79.11, for a total value of $300,459.78. Following the transaction, the director directly owned 122,702 shares of the company’s stock, valued at approximately $9,706,955.22. The trade was a 3.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.73% of the stock is currently owned by insiders.

More Freeport-McMoRan News

These are some of the FCX news items that stood out recently:

• Positive Sentiment: Argus Research reaffirmed its Buy rating, maintaining a favorable view of Freeport-McMoRan. Argus Research Reaffirms Their Buy Rating on Freeport-McMoRan
• Positive Sentiment: Zacks Research raised several quarterly and annual EPS forecasts, including FY2027 to $3.90 from $3.47 and FY2028 to $4.14 from $3.41. The higher projections point to stronger expected earnings and may support investor sentiment; its FY2026 estimate is $3.14, versus a stated consensus of $3.03. Freeport-McMoRan analyst estimates
• Neutral Sentiment: A Motley Fool comparison says Freeport-McMoRan has performed well this year but considers a copper-miners ETF as an alternative way to invest in the sector. This highlights a diversification option rather than a company-specific change in outlook. Freeport-McMoRan vs. a Copper ETF

About Freeport-McMoRan

Freeport-McMoRan Inc. is a mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Its products serve industries including construction, manufacturing, electronics and energy. The company operates mines and related facilities in North America, South America and Indonesia. Its assets include the Grasberg minerals district in Indonesia and copper operations in the United States, Peru and Chile. Freeport-McMoRan traces its roots to Freeport Sulphur Company, founded in 1912, and has since developed into a major international mining business.