948,458 Freeport-McMoRan Inc. $FCX Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP reduced its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 45.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,156,662 shares of the natural resource company’s stock after selling 948,458 shares during the quarter. Artemis Investment Management LLP’s holdings in Freeport-McMoRan were worth $80,966,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp raised its position in shares of Freeport-McMoRan by 3.6% during the second quarter. State Street Corp now owns 66,485,424 shares of the natural resource company’s stock worth $4,181,268,000 after purchasing an additional 2,300,416 shares during the period. Bank of America Corp DE boosted its position in shares of Freeport-McMoRan by 20.0% in the 1st quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company’s stock valued at $2,489,069,000 after purchasing an additional 7,044,775 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Freeport-McMoRan by 98.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 19,973,108 shares of the natural resource company’s stock worth $1,014,434,000 after purchasing an additional 9,924,573 shares in the last quarter. Victory Capital Management Inc. increased its stake in Freeport-McMoRan by 28.9% in the 4th quarter. Victory Capital Management Inc. now owns 17,366,596 shares of the natural resource company’s stock worth $882,050,000 after purchasing an additional 3,894,872 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Freeport-McMoRan by 13.8% during the 2nd quarter. Wellington Management Group LLP now owns 14,918,066 shares of the natural resource company’s stock worth $938,197,000 after buying an additional 1,810,698 shares during the period. 80.77% of the stock is owned by institutional investors and hedge funds.

More Freeport-McMoRan News

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

• Positive Sentiment: Higher analyst price targets: JPMorgan raised its FCX target to $92 from $77 and retained an “overweight” rating. Morgan Stanley also increased its target to $75 from $70, although it maintained an “equal weight” rating. Wells Fargo separately lifted its target to $87 from $70 while maintaining an “overweight” view. Wells Fargo Adjusts Price Target on Freeport-McMoRan
• Positive Sentiment: Copper outlook remains favorable: Deutsche Bank said copper prices could eventually reach $10 per pound, supported by demand from artificial intelligence infrastructure and electric vehicles. Higher copper prices would generally benefit Freeport-McMoRan’s revenue and cash flow. Three stocks to buy as Deutsche Bank says copper could hit $10 a pound
• Neutral Sentiment: Strong investor attention and earnings track record: FCX has been among the most-watched stocks on Zacks, and recent coverage highlighted the company’s history of exceeding earnings estimates. However, these reports did not introduce a new fundamental development.
• Negative Sentiment: Broad earnings-estimate reductions: Zacks lowered its Q3 2026 EPS forecast to $0.61 from $0.63 and reduced several later-quarter estimates. FY2027 EPS was cut to $3.47 from $3.54, while FY2028 EPS fell to $3.41 from $3.52. The revisions suggest analysts see somewhat weaker future profitability than previously expected and likely explain near-term pressure on the stock.

Insider Transactions at Freeport-McMoRan

In related news, EVP Douglas N. Currault II sold 80,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 211,016 shares of the company’s stock, valued at approximately $16,577,416.96. The trade was a 27.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Stephen T. Higgins sold 14,277 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $69.50, for a total value of $992,251.50. Following the completion of the transaction, the chief accounting officer owned 54,618 shares in the company, valued at $3,795,951. This represents a 20.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 110,398 shares of company stock valued at $8,387,271. 0.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Freeport-McMoRan from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday. Erste Group Bank began coverage on shares of Freeport-McMoRan in a research report on Thursday, August 27th. They issued a “buy” rating for the company. Freedom Broker cut shares of Freeport-McMoRan from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 3rd. Royal Bank Of Canada boosted their target price on shares of Freeport-McMoRan from $73.00 to $85.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 16th. Finally, BMO Capital Markets increased their target price on Freeport-McMoRan from $78.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $76.22.

Freeport-McMoRan Stock Down 1.6%

Freeport-McMoRan stock traded down $1.17 during trading hours on Thursday, hitting $70.69. The company had a trading volume of 3,513,695 shares, compared to its average volume of 16,267,260. The firm has a market capitalization of $101.51 billion, a P/E ratio of 34.82, a price-to-earnings-growth ratio of 0.71 and a beta of 1.39. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 0.92. The firm’s fifty day moving average is $71.41 and its 200-day moving average is $65.91. Freeport-McMoRan Inc. has a fifty-two week low of $38.54 and a fifty-two week high of $80.24.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $6.62 billion. During the same quarter last year, the business posted $0.54 EPS. The company’s revenue for the quarter was down 7.3% on a year-over-year basis. On average, research analysts forecast that Freeport-McMoRan Inc. will post 2.84 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be paid a $0.0750 dividend. The ex-dividend date is Thursday, October 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. Freeport-McMoRan’s payout ratio is 14.78%.

About Freeport-McMoRan

Freeport-McMoRan Inc (NYSE: FCX) is a leading international mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Copper is its principal product and is used in electrical systems, construction, transportation, renewable energy infrastructure and other industrial applications. The company also produces copper cathodes and concentrates, gold, molybdenum products and certain quantities of silver and other byproducts.

Freeport-McMoRan operates a portfolio of mining and processing assets in North America, South America and Indonesia.