Public Sector Pension Investment Board Purchases 692,567 Shares of Freeport-McMoRan Inc. $FCX

Public Sector Pension Investment Board grew its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 635.3% in the third quarter, HoldingsChannel reports. The fund owned 801,584 shares of the natural resource company’s stock after acquiring an additional 692,567 shares during the period. Public Sector Pension Investment Board’s holdings in Freeport-McMoRan were worth $31,438,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in FCX. Brighton Jones LLC boosted its holdings 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 worth $564,000 after purchasing an additional 2,882 shares during the last quarter. Bison Wealth LLC increased its stake 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 valued at $366,000 after buying an additional 507 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Freeport-McMoRan during the 2nd quarter worth about $560,000. MGO One Seven LLC boosted its stake in shares of Freeport-McMoRan by 4.9% during the 2nd quarter. MGO One Seven LLC now owns 21,917 shares of the natural resource company’s stock worth $950,000 after buying an additional 1,029 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of Freeport-McMoRan by 20.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 38,726 shares of the natural resource company’s stock worth $1,679,000 after buying an additional 6,707 shares during the last quarter. 80.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FCX shares. HSBC lifted their target price on Freeport-McMoRan from $48.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Citigroup raised their price target on Freeport-McMoRan from $48.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, January 12th. UBS Group upped their price objective on Freeport-McMoRan from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Wall Street Zen downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $68.00 target price on shares of Freeport-McMoRan in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Freeport-McMoRan has an average rating of “Moderate Buy” and an average price target of $60.26.

More Freeport-McMoRan News

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

• Positive Sentiment: BNP Paribas Exane raised its price target on FCX to $75 (from $56) and kept an “outperform” rating — a sizeable lift to upside expectations. Read More.
• Positive Sentiment: Argus upgraded FCX from “hold” to “buy,” reinforcing buy-side momentum and contributing to short‑term demand. Read More.
• Positive Sentiment: Other broker actions (Stifel raised its target to $76; UBS, Wells Fargo and Morgan Stanley have recently lifted targets) add to the analyst-driven narrative supporting higher valuations. Read More.
• Positive Sentiment: Zacks and other research outlets highlight rising earnings-estimate revisions and momentum characteristics for FCX, which can justify multiple expansion if commodity prices and volumes cooperate. Read More.
• Neutral Sentiment: Increased media and analyst attention (multiple Zacks pieces, MSN/Yahoo coverage) is amplifying flows into FCX but is informational rather than a direct operational catalyst. Read More.
• Negative Sentiment: Grasberg production setbacks materially reduced Q4 copper/gold volumes, a real operational headwind that can limit near-term revenue despite stronger prices. Read More.
• Negative Sentiment: Large insider sales: Chairman Richard Adkerson disclosed multi-hundred-thousand‑share disposals (Feb. 10–11 filings) totaling tens of millions of dollars — these trades can sap sentiment even if explained by diversification or tax planning. Read More.
• Negative Sentiment: EVP Douglas Currault II sold 75,000 shares (~$4.8M); insider selling at the executive level is a nearer-term negative for perception of internal conviction. Read More.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX opened at $62.82 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $90.21 billion, a P/E ratio of 41.60, a P/E/G ratio of 0.68 and a beta of 1.47. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $69.44. The stock has a 50 day moving average of $55.94 and a 200-day moving average of $46.82.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share for the quarter, beating 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 quarter in the prior year, the business earned $0.31 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, equities research analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Thursday, January 15th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, January 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 19.87%.

Insider Activity at Freeport-McMoRan

In related news, CAO Stephen T. Higgins sold 28,423 shares of Freeport-McMoRan stock in a transaction dated Thursday, December 11th. The shares were 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 approximately $5,053,059.06. The trade was a 21.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Richard C. Adkerson sold 152,960 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $64.65, for a total transaction of $9,888,864.00. Following the completion of the transaction, the chairman owned 3,356,159 shares in the company, valued at approximately $216,975,679.35. This trade represents a 4.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 513,986 shares of company stock worth $32,124,432. 0.75% of the stock is owned by corporate insiders.

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.