Freeport-McMoRan (NYSE:FCX) Stock Price Down 6.7% – Time to Sell?

Freeport-McMoRan Inc. (NYSE:FCX) dropped 6.7% during mid-day trading on Thursday . The stock traded as low as $68.85 and last traded at $71.1540. Approximately 22,154,445 shares traded hands during mid-day trading, an increase of 31% from the average daily volume of 16,927,588 shares. The stock had previously closed at $76.23.

Key Freeport-McMoRan News

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

• Positive Sentiment: Longer term, copper fundamentals remain supportive. AI data centers, grid modernization and renewable-energy infrastructure are driving demand, while global mine and concentrate production are declining. Low-cost producers such as Freeport-McMoRan could benefit from higher copper prices because much of their mining cost base is fixed. Copper’s Record Rally Highlights a Deeper Supply Problem
• Positive Sentiment: Recent record copper prices had improved FCX’s earnings outlook, and the company’s latest quarterly results exceeded expectations, with earnings of $0.74 per share versus a $0.62 consensus estimate. Its relatively modest debt-to-equity ratio also provides financial flexibility. Freeport-McMoRan stock gains strongly as record copper prices lift earnings outlook
• Neutral Sentiment: Investor interest in FCX remains elevated, and some commentators view the miner as a volatile way to gain exposure to AI-related copper demand. However, heightened attention can also amplify short-term trading swings. AI is fueling copper demand
• Negative Sentiment: Reports that the proposed copper tariff may be delayed or stalled triggered a sharp reversal in copper-related equities. The policy uncertainty undermines expectations that tariffs would tighten U.S. refined-copper supplies or support domestic copper prices, while elevated yields and a stronger dollar make commodities less attractive. Freeport-McMoRan Stock Drops on Copper Tariff Uncertainty

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Freeport-McMoRan from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, June 8th. HSBC raised their price target on shares of Freeport-McMoRan from $72.00 to $75.00 in a research report on Friday, June 12th. Stifel Nicolaus lifted their price target on Freeport-McMoRan from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Freeport-McMoRan in a report on Friday, May 15th. Finally, Scotiabank increased their price objective on Freeport-McMoRan from $67.00 to $77.00 and gave the stock a “sector outperform” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average price target of $69.75.

Freeport-McMoRan Price Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 2.07. The company has a market cap of $102.18 billion, a P/E ratio of 35.05, a P/E/G ratio of 0.75 and a beta of 1.41. The firm has a 50 day moving average price of $67.21 and a two-hundred day moving average price of $64.66.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.12. The business had revenue of $7.03 billion for the quarter, compared to analysts’ expectations of $6.62 billion. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%.The firm’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 EPS. On average, analysts predict that Freeport-McMoRan Inc. will post 2.81 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Wednesday, July 15th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Wednesday, July 15th. Freeport-McMoRan’s payout ratio is presently 14.78%.

Insider Buying and Selling

In other Freeport-McMoRan news, CAO Stephen Higgins sold 14,277 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $69.50, for a total value of $992,251.50. Following the completion of the transaction, the chief accounting officer owned 54,618 shares in the company, valued at $3,795,951. This trade represents a 20.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ellie Mikes sold 4,773 shares of Freeport-McMoRan stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $334,110.00. Following the transaction, the chief accounting officer directly owned 36,000 shares of the company’s stock, valued at $2,520,000. The trade was a 11.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 110,398 shares of company stock worth $8,387,271. Company insiders own 0.73% of the company’s stock.

Institutional Trading of Freeport-McMoRan

A number of hedge funds and other institutional investors have recently bought and sold shares of FCX. Pinnacle Bancorp Inc. increased its holdings in shares of Freeport-McMoRan by 7.9% in the first quarter. Pinnacle Bancorp Inc. now owns 2,011 shares of the natural resource company’s stock worth $118,000 after purchasing an additional 147 shares during the period. Steph & Co. raised its holdings in shares of 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 acquiring an additional 150 shares in the last quarter. Richardson Financial Services Inc. grew its holdings in shares of Freeport-McMoRan by 11.6% during the second quarter. Richardson Financial Services Inc. now owns 1,539 shares of the natural resource company’s stock worth $97,000 after purchasing an additional 160 shares in the last quarter. Essex Bank grew its holdings in shares of Freeport-McMoRan by 1.2% during the first quarter. Essex Bank now owns 14,104 shares of the natural resource company’s stock worth $829,000 after purchasing an additional 163 shares in the last quarter. Finally, Fiduciary Financial Group LLC increased its position in shares of Freeport-McMoRan by 2.6% in the second quarter. Fiduciary Financial Group LLC now owns 6,788 shares of the natural resource company’s stock worth $427,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

About Freeport-McMoRan

Freeport-McMoRan Inc is a global mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Copper is its principal product and is used in electrical wiring, construction, transportation, industrial equipment and renewable-energy technologies. The company also produces gold as a byproduct of its copper operations and molybdenum, an alloying metal used in steelmaking and other industrial applications.

Freeport-McMoRan operates major mining and processing assets in North America, South America and Indonesia.