Generali Powszechne Towarzystwo Emerytalne Buys New Stake in Freeport-McMoRan Inc. $FCX

Generali Powszechne Towarzystwo Emerytalne purchased a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the first quarter, Holdings Channel.com reports. The fund purchased 892,200 shares of the natural resource company’s stock, valued at approximately $52,444,000. Freeport-McMoRan makes up approximately 9.3% of Generali Powszechne Towarzystwo Emerytalne’s holdings, making the stock its biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in FCX. Steph & Co. raised its position in shares of Freeport-McMoRan by 43.7% in the first quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock worth $29,000 after acquiring an additional 150 shares during the period. Essex Bank boosted its stake in shares of Freeport-McMoRan by 1.2% during the 1st quarter. Essex Bank now owns 14,104 shares of the natural resource company’s stock worth $829,000 after acquiring an additional 163 shares in the last quarter. Leo Wealth LLC grew its position in shares of Freeport-McMoRan by 2.5% during the 4th quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company’s stock valued at $347,000 after acquiring an additional 170 shares during the period. Physician Wealth Advisors Inc. increased its stake in shares of Freeport-McMoRan by 23.5% in the 4th quarter. Physician Wealth Advisors Inc. now owns 924 shares of the natural resource company’s stock valued at $47,000 after purchasing an additional 176 shares in the last quarter. Finally, Castle Rock Wealth Management LLC increased its stake in shares of Freeport-McMoRan by 3.3% in the 4th quarter. Castle Rock Wealth Management LLC now owns 5,687 shares of the natural resource company’s stock valued at $289,000 after purchasing an additional 180 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan News Summary

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

• Positive Sentiment: BMO Capital Markets raised its price target on Freeport-McMoRan to $78 from $68 and kept an outperform rating, signaling more upside potential for the stock. BMO Capital adjusts price target on Freeport-McMoRan
• Positive Sentiment: Freeport-McMoRan declared a quarterly cash dividend of $0.15 per share, which includes both a base dividend and a variable dividend, reinforcing shareholder returns and reflecting confidence in cash generation. Freeport declares quarterly cash dividends
• Positive Sentiment: FCX has been showing relative strength versus the broader market, with recent trading action indicating the stock has been rising while the market has dipped. FCX gains as market dips
• Neutral Sentiment: Freeport-McMoRan is also being highlighted as one of the most watched stocks on Zacks, suggesting elevated investor interest, but not necessarily a direct fundamental catalyst. FCX is attracting investor attention
• Neutral Sentiment: Some market commentary says FCX underperformed competitors on Tuesday, which may point to normal trading rotation rather than a major negative company event. Freeport-McMoRan stock underperforms Tuesday when compared to competitors

Freeport-McMoRan Trading Up 1.5%

FCX stock opened at $62.79 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28. Freeport-McMoRan Inc. has a 12-month low of $35.15 and a 12-month high of $72.28. The stock has a market cap of $90.26 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 0.75 and a beta of 1.35. The business’s 50-day moving average is $64.73 and its 200 day moving average is $60.70.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 earnings per share. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 2.56 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be given 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 is Wednesday, July 15th. Freeport-McMoRan’s payout ratio is presently 15.96%.

Analysts Set New Price Targets

A number of brokerages have issued reports on FCX. Citigroup lowered their price target on Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Wells Fargo & Company reduced their target price on Freeport-McMoRan from $77.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. BMO Capital Markets upped their target price on Freeport-McMoRan from $68.00 to $78.00 and gave the stock an “outperform” rating in a research note on Tuesday. Raymond James Financial decreased their target price on Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating on the stock in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $68.27.

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.