37,606 Freeport-McMoRan Inc. $FCX Shares Purchased by JCIC Asset Management Inc.

JCIC Asset Management Inc. boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 59.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 101,214 shares of the natural resource company’s stock after buying an additional 37,606 shares during the quarter. Freeport-McMoRan makes up approximately 2.9% of JCIC Asset Management Inc.’s holdings, making the stock its 11th largest holding. JCIC Asset Management Inc.’s holdings in Freeport-McMoRan were worth $7,085,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. NBH Bank acquired a new stake in shares of Freeport-McMoRan in the 2nd quarter valued at $28,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Freeport-McMoRan during the first quarter valued at $29,000. Roxbury Financial LLC boosted its holdings in Freeport-McMoRan by 196.5% in the second quarter. Roxbury Financial LLC now owns 593 shares of the natural resource company’s stock valued at $37,000 after acquiring an additional 393 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Freeport-McMoRan in the first quarter valued at about $39,000. Finally, Center for Financial Planning Inc. boosted its holdings in Freeport-McMoRan by 730.2% in the third quarter. Center for Financial Planning Inc. now owns 714 shares of the natural resource company’s stock valued at $50,000 after acquiring an additional 628 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

More Freeport-McMoRan News

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

• Positive Sentiment: Freeport expects 2027 copper sales volumes to grow more than 20%. It also reported that new leaching additives achieved lab recoveries more than four times initial results, offering a potential boost to production efficiency. Article: Freeport-McMoRan: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: The board approved a $4.5 billion expansion and modernization program at the Bagdad operation in Arizona, aimed at increasing copper and molybdenum production. This could support longer-term U.S. output growth. Article: Freeport Announces Plans to Boost U.S. Copper & Molybdenum Production
• Positive Sentiment: An analyst commentary said the Grasberg recovery remains on schedule and cited solid mine cash flows; it also expects delayed Indonesian gold sales to reverse in the fourth quarter. These factors support the recovery outlook, though the commentary noted reduced copper sales and higher capital spending. Article: Freeport-McMoRan: Grasberg Remains On Schedule, And I Remain At Buy
• Neutral Sentiment: A Zacks analysis described FCX as technically oversold after a 14.9% decline over four weeks, while noting analysts’ earnings estimate revisions have been upward. That may indicate selling pressure is easing, but does not ensure a near-term rebound. Article: Down 14.9% in 4 Weeks, Here’s Why You Should You Buy the Dip in Freeport-McMoRan
• Negative Sentiment: The $4.5 billion Bagdad project entails significant upfront capital spending, which could weigh on cash flow as Freeport pursues future production growth.
• Negative Sentiment: Freedom Broker lowered its expectations for FCX’s stock price, a counterpoint to the more constructive analyst outlook. Article: Freedom Broker Has Lowered Expectations for Freeport-McMoRan Stock Price

Insider Activity

In other news, Director Lydia H. Kennard sold 3,798 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $79.11, for a total transaction of $300,459.78. Following the completion of the transaction, the director directly owned 122,702 shares in the company, valued at approximately $9,706,955.22. The trade was a 3.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Douglas N. Currault II sold 80,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were 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 directly owned 211,016 shares of the company’s stock, valued at approximately $16,577,416.96. This trade represents a 27.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FCX shares. UBS Group lowered their price objective on Freeport-McMoRan from $88.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, October 28th. Morgan Stanley upped their target price on shares of Freeport-McMoRan from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 7th. Sanford C. Bernstein reduced their target price on shares of Freeport-McMoRan from $50.00 to $47.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 9th. Royal Bank Of Canada lifted their price target on shares of Freeport-McMoRan from $73.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 16th. Finally, Weiss Ratings cut shares of Freeport-McMoRan from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average target price of $75.30.

Freeport-McMoRan Stock Performance

FCX stock opened at $62.63 on Thursday. The business’s fifty day moving average is $70.65 and its 200-day moving average is $65.28. The company has a quick ratio of 0.91, a current ratio of 2.02 and a debt-to-equity ratio of 0.23. The company has a market cap of $89.94 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 0.57 and a beta of 1.38. Freeport-McMoRan Inc. has a twelve month low of $38.54 and a twelve month high of $80.24.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Tuesday, October 27th. The natural resource company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. Freeport-McMoRan had a return on equity of 12.09% and a net margin of 13.03%. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.36 billion. During the same period last year, the company earned $0.50 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that Freeport-McMoRan Inc. will post 3.04 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th were paid a $0.0750 dividend. The ex-dividend date of this dividend was Thursday, October 15th. This represents a $0.30 annualized dividend and a yield of 0.5%. Freeport-McMoRan’s dividend payout ratio is presently 12.61%.

Freeport-McMoRan 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.