Allspring Global Investments Holdings LLC Lowers Stake in Freeport-McMoRan Inc. $FCX

Allspring Global Investments Holdings LLC decreased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 17.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,790,097 shares of the natural resource company’s stock after selling 806,027 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Freeport-McMoRan were worth $231,954,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in Freeport-McMoRan in the fourth quarter valued at $25,000. Steph & Co. grew its holdings in Freeport-McMoRan by 43.7% in the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock valued at $29,000 after buying an additional 150 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Freeport-McMoRan during the 4th quarter valued at about $29,000. SHP Wealth Management purchased a new position in shares of Freeport-McMoRan during the 4th quarter worth about $30,000. Finally, JPL Wealth Management LLC acquired a new stake in shares of Freeport-McMoRan in the third quarter worth approximately $33,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

FCX opened at $58.50 on Friday. Freeport-McMoRan Inc. has a twelve month low of $35.15 and a twelve month high of $72.28. The firm has a market cap of $84.10 billion, a price-to-earnings ratio of 31.12, a PEG ratio of 0.61 and a beta of 1.37. The company has a current ratio of 2.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $63.93 and a 200 day simple moving average of $61.96.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The company had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 EPS. Equities research analysts expect that Freeport-McMoRan Inc. will post 2.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.075 per share. The ex-dividend date is Wednesday, July 15th. This represents a $0.30 annualized dividend and a yield of 0.5%. Freeport-McMoRan’s payout ratio is currently 15.96%.

Key Stories Impacting Freeport-McMoRan

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

• Positive Sentiment: Analysts still see FCX as having a favorable setup for its next earnings report, with expectations for earnings growth and a possible beat supported by the company’s operating leverage to copper prices. Article Title
• Positive Sentiment: Morgan Stanley raised its price target on Freeport-McMoRan to $70 from $66, which signals continued confidence in FCX’s long-term copper exposure despite keeping an Equal Weight rating. Article Title
• Neutral Sentiment: Coverage highlighted Freeport-McMoRan’s importance to mining and materials stocks, reinforcing that FCX remains a key bellwether for the sector rather than providing a new company-specific catalyst. Article Title
• Neutral Sentiment: Another article framed FCX as a test case for copper demand, suggesting investors are waiting for clearer signals on industrial demand and commodity pricing before re-rating the stock. Article Title
• Negative Sentiment: The stock declined more than the market in the latest session, reflecting pressure on investor sentiment and likely concerns about copper demand or broader resource-sector weakness. Article Title

Analyst Ratings Changes

A number of research firms have weighed in on FCX. BNP Paribas Exane increased their price target on shares of Freeport-McMoRan from $71.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Sanford C. Bernstein increased their target price on Freeport-McMoRan from $53.50 to $58.50 and gave the stock a “market perform” rating in a research report on Wednesday, June 10th. Jefferies Financial Group boosted their price target on Freeport-McMoRan from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, June 8th. The Goldman Sachs Group cut their price objective on Freeport-McMoRan from $75.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Finally, Scotiabank boosted their target price on Freeport-McMoRan from $67.00 to $77.00 and gave the stock a “sector outperform” rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $68.77.

Freeport-McMoRan Company 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.