Public Sector Pension Investment Board Has $31.44 Million Holdings in Freeport-McMoRan Inc. $FCX

Public Sector Pension Investment Board increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 635.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 801,584 shares of the natural resource company’s stock after purchasing an additional 692,567 shares during the period. Public Sector Pension Investment Board owned about 0.06% of Freeport-McMoRan worth $31,438,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FCX. Great Lakes Advisors LLC boosted its stake in shares of Freeport-McMoRan by 8.0% in the 3rd quarter. Great Lakes Advisors LLC now owns 1,551,258 shares of the natural resource company’s stock valued at $60,840,000 after purchasing an additional 115,285 shares during the last quarter. New York Life Investment Management LLC raised its stake in shares of Freeport-McMoRan by 11.8% during the second quarter. New York Life Investment Management LLC now owns 215,058 shares of the natural resource company’s stock worth $9,323,000 after buying an additional 22,766 shares during the last quarter. Summit Global Investments lifted its holdings in Freeport-McMoRan by 278.4% in the third quarter. Summit Global Investments now owns 46,157 shares of the natural resource company’s stock valued at $1,810,000 after buying an additional 33,959 shares during the period. Arrow Capital Pty Ltd lifted its holdings in Freeport-McMoRan by 88.5% in the second quarter. Arrow Capital Pty Ltd now owns 113,100 shares of the natural resource company’s stock valued at $4,903,000 after buying an additional 53,100 shares during the period. Finally, Foster Victor Wealth Advisors LLC boosted its stake in Freeport-McMoRan by 5.7% in the third quarter. Foster Victor Wealth Advisors LLC now owns 383,488 shares of the natural resource company’s stock valued at $15,213,000 after acquiring an additional 20,586 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Up 1.3%

Shares of Freeport-McMoRan stock opened at $62.82 on Friday. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $69.44. The business has a 50-day moving average of $55.94 and a two-hundred day moving average of $46.82. The company has a market capitalization of $90.21 billion, a P/E ratio of 41.60, a price-to-earnings-growth ratio of 0.68 and a beta of 1.47. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.29 and a quick ratio of 1.05.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share 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 business had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter in the previous year, the business posted $0.31 EPS. Freeport-McMoRan’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, equities analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Cuts Dividend

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. BMO Capital Markets upped their target price on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. HSBC lifted their price objective on Freeport-McMoRan from $48.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. CICC Research increased their target price on Freeport-McMoRan from $50.40 to $64.40 and gave the company an “outperform” rating in a research note on Monday, January 26th. Citigroup raised their target price on Freeport-McMoRan from $48.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Finally, BNP Paribas Exane boosted their target price on Freeport-McMoRan from $56.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.26.

Insider Activity at Freeport-McMoRan

In other news, CAO Stephen T. Higgins sold 28,423 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $47.99, for a total transaction of $1,364,019.77. Following the completion of the sale, the chief accounting officer owned 105,294 shares of the company’s stock, valued at $5,053,059.06. This represents a 21.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard C. Adkerson sold 152,960 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $64.65, for a total transaction of $9,888,864.00. Following the completion of the sale, the chairman directly owned 3,356,159 shares in the company, valued at $216,975,679.35. This represents a 4.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 513,986 shares of company stock worth $32,124,432 over the last three months. 0.75% of the stock is currently owned by insiders.

Key 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.

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.