Freeport-McMoRan Inc. $FCX Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 6.4% during the 3rd quarter, Holdings Channel reports. The fund owned 508,117 shares of the natural resource company’s stock after purchasing an additional 30,470 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Freeport-McMoRan were worth $19,928,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of FCX. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Freeport-McMoRan during the 3rd quarter worth approximately $25,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Freeport-McMoRan during the second quarter worth $28,000. Salomon & Ludwin LLC grew its position in Freeport-McMoRan by 1,962.9% during the third quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company’s stock valued at $29,000 after buying an additional 687 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in Freeport-McMoRan in the third quarter valued at $36,000. Finally, Proffitt & Goodson Inc. raised 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 acquiring an additional 278 shares during the period. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $62.82 on Monday. 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 stock’s 50 day simple moving average is $55.94 and its 200-day simple moving average is $46.90. The company has a market cap of $90.21 billion, a PE ratio of 41.60, a price-to-earnings-growth ratio of 0.69 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 posted its quarterly earnings data 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. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The firm had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same period in the prior year, the company earned $0.31 EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Thursday, January 15th were given a dividend of $0.075 per share. 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 presently 19.87%.

Insider Buying and Selling at Freeport-McMoRan

In related news, Chairman Richard C. Adkerson sold 152,960 shares of Freeport-McMoRan stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $64.65, for a total transaction of $9,888,864.00. Following the transaction, the chairman owned 3,356,159 shares in the company, valued at approximately $216,975,679.35. This trade represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Douglas N. Currault II sold 75,000 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $64.52, for a total value of $4,839,000.00. Following the transaction, the executive vice president directly owned 219,181 shares in the company, valued at $14,141,558.12. This trade represents a 25.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 513,986 shares of company stock worth $32,124,432 in the last 90 days. 0.79% of the stock is currently owned by insiders.

More Freeport-McMoRan News

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

• Positive Sentiment: BNP Paribas Exane raised its price target on FCX to $75 (from $56) and kept an “outperform” rating — a sizeable lift to upside expectations. Read More.
• Positive Sentiment: Argus upgraded FCX from “hold” to “buy,” reinforcing buy-side momentum and contributing to short‑term demand. Read More.
• Positive Sentiment: Other broker actions (Stifel raised its target to $76; UBS, Wells Fargo and Morgan Stanley have recently lifted targets) add to the analyst-driven narrative supporting higher valuations. Read More.
• Positive Sentiment: Zacks and other research outlets highlight rising earnings-estimate revisions and momentum characteristics for FCX, which can justify multiple expansion if commodity prices and volumes cooperate. Read More.
• Neutral Sentiment: Increased media and analyst attention (multiple Zacks pieces, MSN/Yahoo coverage) is amplifying flows into FCX but is informational rather than a direct operational catalyst. Read More.
• Negative Sentiment: Grasberg production setbacks materially reduced Q4 copper/gold volumes, a real operational headwind that can limit near-term revenue despite stronger prices. Read More.
• Negative Sentiment: Large insider sales: Chairman Richard Adkerson disclosed multi-hundred-thousand‑share disposals (Feb. 10–11 filings) totaling tens of millions of dollars — these trades can sap sentiment even if explained by diversification or tax planning. Read More.
• Negative Sentiment: EVP Douglas Currault II sold 75,000 shares (~$4.8M); insider selling at the executive level is a nearer-term negative for perception of internal conviction. Read More.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FCX. Argus upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Friday. HSBC increased their price target on Freeport-McMoRan from $48.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Clarkson Capital upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Wednesday, November 19th. Citigroup upped their target price on Freeport-McMoRan from $48.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $68.00 price target on shares of Freeport-McMoRan in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.26.

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.