Sumitomo Mitsui Trust Group Inc. Decreases Position in Freeport-McMoRan Inc. $FCX

Sumitomo Mitsui Trust Group Inc. reduced its position in Freeport-McMoRan Inc. (NYSE:FCX) by 2.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,384,552 shares of the natural resource company’s stock after selling 88,819 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Freeport-McMoRan were worth $198,944,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of FCX. Pinnacle Bancorp Inc. lifted its position in Freeport-McMoRan by 7.9% during the first quarter. Pinnacle Bancorp Inc. now owns 2,011 shares of the natural resource company’s stock valued at $118,000 after purchasing an additional 147 shares during the period. Steph & Co. lifted its position in Freeport-McMoRan by 43.7% during the first quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 150 shares in the last quarter. Essex Bank lifted its position in shares of Freeport-McMoRan by 1.2% during the 1st quarter. Essex Bank now owns 14,104 shares of the natural resource company’s stock valued at $829,000 after buying an additional 163 shares in the last quarter. Leo Wealth LLC lifted its holdings in Freeport-McMoRan by 2.5% during the fourth quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company’s stock valued at $347,000 after purchasing an additional 170 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. increased its stake in shares of Freeport-McMoRan by 0.9% in the first quarter. Klein Pavlis & Peasley Financial Inc. now owns 18,674 shares of the natural resource company’s stock worth $1,098,000 after purchasing an additional 175 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock opened at $60.50 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. Freeport-McMoRan Inc. has a one year low of $35.15 and a one year high of $72.28. The stock has a market cap of $86.97 billion, a price-to-earnings ratio of 32.18, a price-to-earnings-growth ratio of 0.59 and a beta of 1.37. The stock has a 50 day moving average price of $63.75 and a 200-day moving average price of $61.66.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities analysts expect that Freeport-McMoRan Inc. will post 2.63 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be paid a $0.075 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 15.96%.

Freeport-McMoRan News Summary

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

• Positive Sentiment: JPMorgan raised its price target on Freeport-McMoRan from $73 to $77 and reiterated an overweight rating, signaling confidence in the company’s upside. JPMorgan target hike on Freeport-McMoRan
• Positive Sentiment: Bank of America also lifted its price target from $74 to $80 and kept a buy rating, which adds to bullish sentiment around FCX. Bank of America target hike on Freeport-McMoRan
• Positive Sentiment: Scotiabank raised FY2026 earnings estimates for Freeport-McMoRan and maintained a sector outperform rating with a $77 target, suggesting stronger profit expectations. Scotiabank earnings estimate update on FCX
• Positive Sentiment: Articles highlighting strong copper demand and supply pressure at the Grasberg mine are supporting the stock, since tighter supply can improve pricing power for a major copper producer like Freeport-McMoRan. Grasberg output pressure and copper demand article
• Neutral Sentiment: Freeport-McMoRan is also drawing attention from investors and screeners, but the search interest itself is not a fundamental catalyst. Zacks investor attention article
• Neutral Sentiment: Morgan Stanley kept a Hold rating on FCX, which tempers the bullish case somewhat but does not materially change the outlook. Morgan Stanley hold rating on FCX
• Negative Sentiment: Recent coverage also noted output pressure at Grasberg, which could weigh on near-term production and create some operational risk for investors. Grasberg output pressure article

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein lifted their target price on shares of Freeport-McMoRan from $53.50 to $58.50 and gave the company a “market perform” rating in a research note on Wednesday, June 10th. Jefferies Financial Group increased their price target on Freeport-McMoRan from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Morgan Stanley raised their price target on Freeport-McMoRan from $66.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday. CICC Research lowered their price objective on Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating on the stock in a research report on Tuesday, April 28th. Finally, UBS Group upped their target price on shares of Freeport-McMoRan from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.63.

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.