Freeport-McMoRan Inc. $FCX Stock Sold by Wedbush Securities Inc.

Wedbush Securities Inc. lessened its position in Freeport-McMoRan Inc. (NYSE:FCX) by 23.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,578 shares of the natural resource company’s stock after selling 10,800 shares during the quarter. Wedbush Securities Inc.’s holdings in Freeport-McMoRan were worth $2,490,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in shares of Freeport-McMoRan by 34.5% in the 1st quarter. Fifth Third Bancorp now owns 1,062,916 shares of the natural resource company’s stock valued at $62,478,000 after purchasing an additional 272,726 shares in the last quarter. Iowa State Bank grew its holdings in shares of Freeport-McMoRan by 50.7% during the 3rd quarter. Iowa State Bank now owns 50,144 shares of the natural resource company’s stock valued at $3,510,000 after purchasing an additional 16,868 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Freeport-McMoRan by 4.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,687,524 shares of the natural resource company’s stock valued at $169,018,000 after purchasing an additional 117,888 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Freeport-McMoRan by 1.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,970,872 shares of the natural resource company’s stock valued at $627,068,000 after purchasing an additional 141,738 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in Freeport-McMoRan by 17.1% in the 2nd quarter. HighTower Advisors LLC now owns 1,249,858 shares of the natural resource company’s stock worth $78,604,000 after purchasing an additional 182,714 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $65.20 on Friday. The firm has a market cap of $93.63 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 0.58 and a beta of 1.39. Freeport-McMoRan Inc. has a fifty-two week low of $38.54 and a fifty-two 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 business has a 50 day moving average price of $72.02 and a 200-day moving average price of $66.90.

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, topping the consensus estimate of $0.62 by $0.12. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. The firm had revenue of $7.03 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter last year, the business earned $0.54 earnings per share. The business’s revenue was down 7.3% on a year-over-year basis. Equities research analysts predict that Freeport-McMoRan Inc. will post 3.05 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be issued a dividend of $0.0750 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Thursday, October 15th. Freeport-McMoRan’s dividend payout ratio is currently 14.78%.

Freeport-McMoRan News Summary

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

• Positive Sentiment: FCX has delivered four consecutive earnings beats, and strong copper prices are expected to support third-quarter results despite lower sales volumes and higher costs. The earnings preview also highlights estimates for production and other operating metrics that could influence the stock beyond headline revenue and EPS. FCX to Report Q3 Earnings: What’s in the Cards for the Stock?
• Positive Sentiment: Erste Group Bank raised its FY2026 EPS forecast for Freeport-McMoRan to $3.19 from $3.10 and maintained a Buy rating. The revised estimate is above the broader consensus of $2.99, providing a favorable analyst signal ahead of earnings.
• Positive Sentiment: HSBC reportedly assigned FCX a $77 price target ahead of the company’s October 27 results, suggesting potential upside if copper-market conditions and quarterly execution meet expectations. HSBC sets USD 77 target before October 27 results

Analyst Upgrades and Downgrades

Several analysts have weighed in on FCX shares. Sanford C. Bernstein lowered their price target on shares of Freeport-McMoRan from $50.00 to $47.00 and set a “market perform” rating for the company in a research note on Wednesday, September 9th. Erste Group Bank began coverage on Freeport-McMoRan in a research note on Thursday, August 27th. They set a “buy” rating on the stock. Morgan Stanley raised their price objective on Freeport-McMoRan from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 7th. Bank of America lifted their price objective on Freeport-McMoRan from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Finally, Freedom Broker lowered Freeport-McMoRan from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $76.27.

Insider Activity

In other Freeport-McMoRan news, CAO Ellie Mikes sold 4,773 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $70.00, for a total transaction of $334,110.00. Following the completion of the sale, the chief accounting officer owned 36,000 shares of the company’s stock, valued at $2,520,000. This represents a 11.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Douglas Currault, II sold 80,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $78.56, for a total transaction of $6,284,800.00. Following the completion of the sale, the executive vice president directly owned 211,016 shares in the company, valued at approximately $16,577,416.96. This trade represents a 27.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 110,398 shares of company stock worth $8,387,271. 0.73% of the stock is currently owned by corporate insiders.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc (NYSE: FCX) is a global mining company primarily engaged in the exploration, development, and production of copper. Copper is used extensively in electrical wiring, construction, transportation, renewable energy systems, and other industrial applications. The company also produces gold and molybdenum, a metal used in steelmaking and other industrial processes, as well as certain other byproducts.

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