International Assets Investment Management LLC Acquires New Position in Freeport-McMoRan Inc. $FCX

International Assets Investment Management LLC bought a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 21,167 shares of the natural resource company’s stock, valued at approximately $1,466,000.

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp boosted its position in shares of Freeport-McMoRan by 3.6% in the 2nd 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 last quarter. Bank of America Corp DE boosted its holdings in Freeport-McMoRan by 20.0% during the first quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company’s stock worth $2,489,069,000 after buying an additional 7,044,775 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Freeport-McMoRan by 13.8% during the second 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 last quarter. Amundi grew its position in shares of 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 during the period. Finally, Jupiter Topco LLC acquired a new position in shares of Freeport-McMoRan during the 2nd quarter worth about $739,890,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Freeport-McMoRan from $66.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, October 5th. JPMorgan Chase & Co. lowered their price objective on shares of Freeport-McMoRan from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, October 28th. UBS Group decreased their target price on Freeport-McMoRan from $88.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, October 28th. Scotiabank decreased their price objective on Freeport-McMoRan from $80.00 to $78.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 28th. Finally, Morgan Stanley raised their target price on shares of Freeport-McMoRan from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $75.30.

Key Freeport-McMoRan News

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

• Positive Sentiment: Freeport approved a $4.5 billion expansion of its Bagdad mine in Arizona. The project aims to more than double mining and milling rates, increase copper and molybdenum output, and reduce long-term unit costs by about 20%—potentially supporting future growth and margins. Article: Freeport’s $4.5 Billion Bagdad Expansion to Boost U.S. Production
• Negative Sentiment: The project’s substantial capital cost, alongside higher capital-spending guidance, has raised near-term concerns and reportedly pressured shares after the company’s third-quarter results. Scotiabank also lowered its FY2026 and FY2027 EPS estimates to $3.20 and $2.57, respectively, though it kept a Sector Outperform rating and a $78 price target. Article: Powering Up: Freeport-McMoRan’s $4.5B Copper Expansion

Insider Buying and Selling

In other Freeport-McMoRan news, EVP Douglas N. 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 owned 211,016 shares of the company’s stock, valued at $16,577,416.96. This trade represents a 27.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lydia H. Kennard sold 3,798 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $79.11, for a total value of $300,459.78. Following the sale, the director directly owned 122,702 shares of the company’s stock, valued at $9,706,955.22. This represents a 3.00% decrease in their position. The SEC filing for this sale provides additional information. 0.73% of the stock is currently owned by insiders.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX opened at $59.36 on Monday. The stock has a market capitalization of $85.25 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 0.55 and a beta of 1.38. Freeport-McMoRan Inc. has a 52 week low of $38.75 and a 52 week high of $80.24. The stock has a 50 day moving average price of $69.84 and a 200 day moving average price of $65.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 2.02.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Tuesday, October 27th. The natural resource company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. Freeport-McMoRan had a net margin of 13.03% and a return on equity of 12.09%. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.36 billion. During the same period last year, the business earned $0.50 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. Analysts predict that Freeport-McMoRan Inc. will post 3.02 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

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

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Its products serve industries including construction, manufacturing, electronics and energy.

The company operates mines and related facilities in North America, South America and Indonesia. Its assets include the Grasberg minerals district in Indonesia and copper operations in the United States, Peru and Chile.

Freeport-McMoRan traces its roots to Freeport Sulphur Company, founded in 1912, and has since developed into a major international mining business.