ING Groep NV Has $9.41 Million Position in Freeport-McMoRan Inc. $FCX

ING Groep NV cut its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 4.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 239,912 shares of the natural resource company’s stock after selling 11,465 shares during the quarter. ING Groep NV’s holdings in Freeport-McMoRan were worth $9,409,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Freeport-McMoRan during the 3rd quarter valued at $25,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Freeport-McMoRan during the 2nd quarter worth about $28,000. Salomon & Ludwin LLC increased its holdings in Freeport-McMoRan by 1,962.9% during the 3rd quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company’s stock worth $29,000 after acquiring an additional 687 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new stake in Freeport-McMoRan during the third quarter valued at $36,000. Finally, Proffitt & Goodson Inc. increased its position in shares of Freeport-McMoRan by 39.8% in the third quarter. Proffitt & Goodson Inc. now owns 977 shares of the natural resource company’s stock worth $38,000 after purchasing an additional 278 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Insider Activity

In related news, CAO Ellie L. Mikes sold 9,572 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $47.66, for a total value of $456,201.52. Following the completion of the transaction, the chief accounting officer directly owned 38,761 shares of the company’s stock, valued at $1,847,349.26. This trade represents a 19.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Douglas N. Currault II sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $64.52, for a total transaction of $4,839,000.00. Following the sale, the executive vice president directly owned 219,181 shares in the company, valued at $14,141,558.12. The trade was a 25.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 513,986 shares of company stock valued at $32,124,432 in the last ninety days. 0.75% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on FCX. Jefferies Financial Group reiterated a “buy” rating and set a $68.00 price target on shares of Freeport-McMoRan in a research report on Monday, January 5th. Wells Fargo & Company lifted their target price on shares of Freeport-McMoRan from $55.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. BMO Capital Markets upped their target price on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Clarkson Capital upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $46.00 price target for the company in a report on Wednesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Freeport-McMoRan in a report on Wednesday, November 26th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.35.

Key Headlines Impacting Freeport-McMoRan

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

• Positive Sentiment: Stifel Nicolaus raised its price target on FCX from $52 to $76 and maintained a “buy” rating, giving the stock a notable broker-backed upside case that can support further inflows. BayStreet.CA
• Positive Sentiment: Zacks highlights that earnings estimate revisions for Freeport have trended higher (“surging estimates”), which supports valuation expansion and helps explain near-term upward price momentum. Surging Earnings Estimates Signal Upside
• Neutral Sentiment: Broader coverage from Zacks (sector comparisons, value/momentum write-ups) is increasing investor attention on FCX; useful for volume and sentiment but not a direct fundamental catalyst. FCX Attracting Investor Attention
• Negative Sentiment: Chairman Richard C. Adkerson sold 152,960 shares on Feb. 11 at about $64.65 (~$9.9M); large insider dispositions can weigh on sentiment even if explained by diversification or planned liquidity. Adkerson Feb 11 SEC Filing
• Negative Sentiment: Adkerson also sold 248,031 shares on Feb. 10 at roughly $62.80 (~$15.6M) in a separate transaction; multiple large sales over consecutive days amplify potential negative headlines. Adkerson Feb 10 SEC Filing
• Negative Sentiment: EVP Douglas Currault II sold 75,000 shares on Feb. 11 at ~ $64.52 (~$4.84M). While still retaining a large stake, the sale is another near-term negative for insider-sentiment metrics. Currault Feb 11 SEC Filing

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $65.41 on Thursday. The stock’s 50 day simple moving average is $55.25 and its two-hundred day simple moving average is $46.58. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.29 and a quick ratio of 1.05. The company has a market cap of $93.92 billion, a price-to-earnings ratio of 43.32, a PEG ratio of 0.72 and a beta of 1.47. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $69.44.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, January 22nd. The natural resource company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.28 by $0.19. The company had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.42 billion. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 EPS. As a group, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th were issued a $0.075 dividend. The ex-dividend date was Thursday, January 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. Freeport-McMoRan’s payout ratio is currently 19.87%.

Freeport-McMoRan Profile

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.