Wealthfront Advisers LLC Sells 15,503 Shares of Freeport-McMoRan Inc. $FCX

Wealthfront Advisers LLC decreased its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 11.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,716 shares of the natural resource company’s stock after selling 15,503 shares during the period. Wealthfront Advisers LLC’s holdings in Freeport-McMoRan were worth $4,931,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in FCX. Vanguard Group Inc. raised its holdings in Freeport-McMoRan by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 126,983,947 shares of the natural resource company’s stock worth $5,504,754,000 after purchasing an additional 1,941,662 shares during the last quarter. Fisher Asset Management LLC raised its stake in Freeport-McMoRan by 3.2% during the second quarter. Fisher Asset Management LLC now owns 62,358,715 shares of the natural resource company’s stock worth $2,703,250,000 after buying an additional 1,926,493 shares during the last quarter. State Street Corp lifted its holdings in Freeport-McMoRan by 0.5% in the second quarter. State Street Corp now owns 61,787,174 shares of the natural resource company’s stock valued at $2,678,474,000 after buying an additional 320,514 shares during the period. Bank of New York Mellon Corp boosted its position in Freeport-McMoRan by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 21,671,223 shares of the natural resource company’s stock valued at $849,945,000 after acquiring an additional 435,963 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Freeport-McMoRan by 89.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 17,569,169 shares of the natural resource company’s stock worth $761,623,000 after acquiring an additional 8,292,873 shares during the period. 80.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman Richard C. Adkerson sold 248,031 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $62.80, for a total value of $15,576,346.80. Following the completion of the transaction, the chairman directly owned 3,509,119 shares of the company’s stock, valued at $220,372,673.20. This represents a 6.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Stephen T. Higgins sold 28,423 shares of Freeport-McMoRan stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $47.99, for a total value of $1,364,019.77. Following the sale, the chief accounting officer owned 105,294 shares in the company, valued at $5,053,059.06. This trade represents a 21.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 513,986 shares of company stock worth $32,124,432 over the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

More Freeport-McMoRan News

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 kept a “buy” rating — a meaningful upgrade that reinforces upside expectations and likely supported buying interest. Read More.
• Positive Sentiment: Zacks highlights that analysts have been raising earnings estimates for Freeport, suggesting upward earnings momentum that can justify higher valuations. Read More.
• Positive Sentiment: Coverage and at least one analyst upgrade earlier this week pushed the stock higher intraday (reports noted a ~3.4% move on an upgrade), showing broker conviction can drive near-term gains. Read More.
• Neutral Sentiment: Market commentary asks whether the stock is still attractive after a large one‑year rally (~75%), a framing piece for investors debating buy vs. profit‑taking. Read More.
• Neutral Sentiment: Several momentum/strategy pieces highlight FCX as a long‑term momentum name, increasing visibility but not serving as a direct catalyst. Read More.
• Negative Sentiment: Chairman Richard Adkerson executed large share sales (including a 248,031‑share block reported Feb. 10 and further sales on Feb. 11); sizeable insider dispositions often trigger short‑term selling pressure. Read More.
• Negative Sentiment: EVP Douglas Currault II sold 75,000 shares (~$4.84M), disclosed in SEC filings; another material insider sale that can amplify profit‑taking concerns. Read More.
• Negative Sentiment: Zacks flags Grasberg operational setbacks that cut Q4 volumes (lower copper/gold shipments despite stronger realized prices), a production risk investors need to monitor. Read More.

Analysts Set New Price Targets

FCX has been the subject of several recent analyst reports. Wall Street Zen raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. HSBC boosted their target price on shares of Freeport-McMoRan from $48.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Wells Fargo & Company upped their price objective on shares of Freeport-McMoRan from $55.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. BMO Capital Markets boosted their target price on Freeport-McMoRan from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Freeport-McMoRan in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.35.

Freeport-McMoRan Stock Down 5.3%

FCX stock opened at $62.01 on Friday. The firm has a market capitalization of $89.03 billion, a PE ratio of 41.06, a P/E/G ratio of 0.74 and a beta of 1.47. The company has a quick ratio of 1.05, a current ratio of 2.29 and a debt-to-equity ratio of 0.29. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $69.44. The stock’s 50 day moving average is $55.59 and its 200-day moving average is $46.68.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, January 22nd. The natural resource company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.19. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The business had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same period in the prior year, the firm posted $0.31 EPS. Freeport-McMoRan’s quarterly revenue was down 1.5% compared to the same quarter last year. Sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS 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 given a dividend of $0.075 per share. The ex-dividend date of this dividend was Thursday, January 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 19.87%.

About Freeport-McMoRan

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.