Freeport-McMoRan (NYSE:FCX) Director Lydia Kennard Sells 3,798 Shares of Stock

Freeport-McMoRan Inc. (NYSE:FCX) Director Lydia Kennard sold 3,798 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $79.11, for a total transaction of $300,459.78. Following the transaction, the director owned 122,702 shares of the company’s stock, valued at approximately $9,706,955.22. This represents a 3.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Freeport-McMoRan Stock Down 2.4%

Shares of NYSE:FCX opened at $76.54 on Friday. Freeport-McMoRan Inc. has a 52 week low of $35.15 and a 52 week high of $80.24. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 2.07. The company has a market capitalization of $109.91 billion, a PE ratio of 37.70, a PEG ratio of 0.78 and a beta of 1.37. The company has a 50 day moving average price of $65.46 and a two-hundred day moving average price of $64.02.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.12. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. The company had revenue of $7.03 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period last year, the firm posted $0.54 earnings per share. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. Analysts forecast that Freeport-McMoRan Inc. will post 2.79 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th were issued a dividend of $0.075 per share. The ex-dividend date was Wednesday, July 15th. This represents a $0.30 annualized dividend and a yield of 0.4%. Freeport-McMoRan’s payout ratio is currently 14.78%.

Wall Street Analyst Weigh In

FCX has been the subject of several research reports. Stifel Nicolaus increased their price objective on shares of Freeport-McMoRan from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Royal Bank Of Canada boosted their price objective on shares of Freeport-McMoRan from $70.00 to $73.00 and gave the company a “sector perform” rating in a research report on Friday, July 24th. UBS Group upped their target price on shares of Freeport-McMoRan from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. BMO Capital Markets reissued an “outperform” rating and issued a $78.00 price target on shares of Freeport-McMoRan in a research note on Thursday, July 23rd. Finally, Wall Street Zen lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $70.27.

Key Stories Impacting Freeport-McMoRan

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

• Positive Sentiment: Recent performance data shows strong momentum, with FCX gaining significantly over the past month, quarter, and year. Zacks also identifies the stock as a strong momentum name, which may continue attracting trend-focused investors. Freeport McMoRan On Smelter Optimism And Whether The Stock Is Already Priced In Here’s Why Freeport-McMoRan Is a Strong Momentum Stock
• Positive Sentiment: Optimism surrounding Freeport-McMoRan’s smelter operations and favorable copper prices supports the company’s growth outlook. A new Erste Group Bank coverage initiation with a “buy” rating also adds positive analyst sentiment. Erste Group Bank coverage
• Positive Sentiment: FCX recently exceeded quarterly earnings and revenue expectations, reporting $0.74 in earnings per share versus a $0.62 consensus estimate and revenue of $7.03 billion versus $6.62 billion expected. Analysts broadly maintain a “Moderate Buy” view, although the average published price target is below the current trading range.
• Neutral Sentiment: Analysts comparing FCX with BHP Group point to strong copper prices, healthy finances, and ongoing growth projects at both miners. The comparison supports the sector outlook but does not provide a clear company-specific catalyst. FCX versus BHP
• Negative Sentiment: Valuation concerns are weighing on the stock after its copper-fueled rally. While a discounted-cash-flow analysis suggests potential upside, market-multiple measures indicate FCX may be expensive following its strong run. Freeport-McMoRan Stock May Be Pricey After Record Copper Rally
• Negative Sentiment: Executive Vice President Douglas Currault II sold 80,000 shares worth approximately $6.3 million, reducing his holdings by 27.5%. Although the sale may be personal or scheduled, it can reinforce profit-taking concerns when the stock is near record levels. Freeport-McMoRan Insider Selling

Institutional Trading of Freeport-McMoRan

A number of institutional investors have recently made changes to their positions in the business. Corient Private Wealth LP grew its position in Freeport-McMoRan by 6.9% in the second quarter. Corient Private Wealth LP now owns 269,768 shares of the natural resource company’s stock valued at $16,966,000 after purchasing an additional 17,405 shares in the last quarter. Amundi lifted its position in Freeport-McMoRan by 10.5% during the 2nd quarter. Amundi now owns 11,819,898 shares of the natural resource company’s stock worth $743,353,000 after buying an additional 1,125,982 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Freeport-McMoRan by 17.1% during the 2nd quarter. HighTower Advisors LLC now owns 1,249,858 shares of the natural resource company’s stock worth $78,604,000 after buying an additional 182,714 shares during the last quarter. Groupe la Francaise boosted its stake in shares of Freeport-McMoRan by 13.5% during the 2nd quarter. Groupe la Francaise now owns 210,000 shares of the natural resource company’s stock worth $13,218,000 after buying an additional 25,000 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of Freeport-McMoRan by 6,434.3% in the 2nd quarter. California State Teachers Retirement System now owns 142,181,964 shares of the natural resource company’s stock valued at $8,941,824,000 after acquiring an additional 140,006,047 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

About Freeport-McMoRan

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.