Tamar Securities LLC Sells 13,697 Shares of Freeport-McMoRan Inc. $FCX

Tamar Securities LLC lessened its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 481,167 shares of the natural resource company’s stock after selling 13,697 shares during the quarter. Freeport-McMoRan makes up 3.1% of Tamar Securities LLC’s holdings, making the stock its 10th biggest position. Tamar Securities LLC’s holdings in Freeport-McMoRan were worth $33,682,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FCX. State Street Corp grew its position in shares of Freeport-McMoRan by 3.6% during the 2nd quarter. State Street Corp now owns 66,485,424 shares of the natural resource company’s stock valued at $4,181,268,000 after acquiring an additional 2,300,416 shares during the period. Bank of America Corp DE raised its holdings in Freeport-McMoRan by 20.0% in the 1st quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company’s stock worth $2,489,069,000 after purchasing an additional 7,044,775 shares during the period. Wellington Management Group LLP raised its holdings in Freeport-McMoRan by 13.8% in the 2nd quarter. Wellington Management Group LLP now owns 14,918,066 shares of the natural resource company’s stock worth $938,197,000 after purchasing an additional 1,810,698 shares during the period. Amundi raised its holdings in Freeport-McMoRan by 10.5% in the 2nd quarter. Amundi now owns 11,819,898 shares of the natural resource company’s stock worth $743,353,000 after purchasing an additional 1,125,982 shares during the period. Finally, Jupiter Topco LLC purchased a new position in Freeport-McMoRan during the second quarter worth approximately $739,890,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Insider Buying and Selling

In related news, Director Lydia H. Kennard sold 3,798 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $79.11, for a total value of $300,459.78. Following the completion of the transaction, the director directly owned 122,702 shares of the company’s stock, valued at approximately $9,706,955.22. This represents a 3.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Douglas N. Currault II sold 80,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $78.56, for a total value of $6,284,800.00. Following the completion of the transaction, the executive vice president owned 211,016 shares in the company, valued at $16,577,416.96. The trade was a 27.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on FCX. Erste Group Bank started coverage on Freeport-McMoRan in a report on Thursday, August 27th. They issued a “buy” rating on the stock. Sanford C. Bernstein reduced their target price on Freeport-McMoRan from $50.00 to $47.00 and set a “market perform” rating for the company in a research note on Wednesday, September 9th. Barclays upped their target price on Freeport-McMoRan from $83.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 19th. Wells Fargo & Company decreased their target price on Freeport-McMoRan from $87.00 to $79.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 28th. Finally, UBS Group dropped their price target on shares of Freeport-McMoRan from $88.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $75.30.

More Freeport-McMoRan News

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

• Positive Sentiment: Freeport approved a $4.5 billion expansion of its Bagdad mine in Arizona. The project aims to more than double mining and milling rates, increase copper and molybdenum output, and reduce long-term unit costs by about 20%—potentially supporting future growth and margins. Article: Freeport’s $4.5 Billion Bagdad Expansion to Boost U.S. Production
• Negative Sentiment: The project’s substantial capital cost, alongside higher capital-spending guidance, has raised near-term concerns and reportedly pressured shares after the company’s third-quarter results. Scotiabank also lowered its FY2026 and FY2027 EPS estimates to $3.20 and $2.57, respectively, though it kept a Sector Outperform rating and a $78 price target. Article: Powering Up: Freeport-McMoRan’s $4.5B Copper Expansion

Freeport-McMoRan Price Performance

Shares of FCX traded up $1.46 during mid-day trading on Friday, hitting $59.36. 16,247,153 shares of the company were exchanged, compared to its average volume of 11,134,305. The stock has a market cap of $85.25 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 0.58 and a beta of 1.38. Freeport-McMoRan Inc. has a 1-year low of $38.75 and a 1-year high of $80.24. The company has a 50 day moving average of $69.84 and a 200-day moving average of $65.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 2.02.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Tuesday, October 27th. The natural resource company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. Freeport-McMoRan had a return on equity of 12.09% and a net margin of 13.03%. The company had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.36 billion. During the same period in the previous year, the firm posted $0.50 EPS. Freeport-McMoRan’s revenue was up 8.2% compared to the same quarter last year. Analysts expect that Freeport-McMoRan Inc. will post 3.02 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th were given a $0.0750 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, October 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 12.61%.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Its products serve industries including construction, manufacturing, electronics and energy.

The company operates mines and related facilities in North America, South America and Indonesia. Its assets include the Grasberg minerals district in Indonesia and copper operations in the United States, Peru and Chile.

Freeport-McMoRan traces its roots to Freeport Sulphur Company, founded in 1912, and has since developed into a major international mining business.