Madison Asset Management LLC Increases Position in Freeport-McMoRan Inc. $FCX

Madison Asset Management LLC lifted its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 60.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 142,941 shares of the natural resource company’s stock after acquiring an additional 53,698 shares during the quarter. Madison Asset Management LLC’s holdings in Freeport-McMoRan were worth $5,606,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Great Lakes Advisors LLC grew its holdings in Freeport-McMoRan by 8.0% in the third quarter. Great Lakes Advisors LLC now owns 1,551,258 shares of the natural resource company’s stock worth $60,840,000 after purchasing an additional 115,285 shares during the period. New York Life Investment Management LLC raised its holdings in Freeport-McMoRan by 11.8% in the 2nd quarter. New York Life Investment Management LLC now owns 215,058 shares of the natural resource company’s stock worth $9,323,000 after acquiring an additional 22,766 shares during the last quarter. Summit Global Investments lifted its position in Freeport-McMoRan by 278.4% in the 3rd quarter. Summit Global Investments now owns 46,157 shares of the natural resource company’s stock valued at $1,810,000 after acquiring an additional 33,959 shares in the last quarter. Arrow Capital Pty Ltd boosted its stake in Freeport-McMoRan by 88.5% during the 2nd quarter. Arrow Capital Pty Ltd now owns 113,100 shares of the natural resource company’s stock valued at $4,903,000 after purchasing an additional 53,100 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC boosted its stake in Freeport-McMoRan by 5.7% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 383,488 shares of the natural resource company’s stock valued at $15,213,000 after purchasing an additional 20,586 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FCX shares. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and upped their target price for the company from $53.50 to $54.00 in a research note on Friday, January 23rd. Wall Street Zen upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. CICC Research raised their price target on Freeport-McMoRan from $50.40 to $64.40 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Citigroup increased their target price on Freeport-McMoRan from $48.00 to $67.00 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, Raymond James Financial boosted their price target on Freeport-McMoRan from $53.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.35.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan 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 transaction, the chief accounting officer owned 105,294 shares in the company, valued at $5,053,059.06. This trade represents a 21.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard C. Adkerson sold 152,960 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $64.65, for a total value of $9,888,864.00. Following the sale, the chairman directly owned 3,356,159 shares in the company, valued at $216,975,679.35. The trade was 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 in the last ninety days. Company insiders own 0.75% of the company’s stock.

Freeport-McMoRan News Summary

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

• Positive Sentiment: Stifel Nicolaus raised its price target on FCX from $52 to $76 and maintained a “buy” rating, giving the stock a notable broker-backed upside case that can support further inflows. BayStreet.CA
• Positive Sentiment: Zacks highlights that earnings estimate revisions for Freeport have trended higher (“surging estimates”), which supports valuation expansion and helps explain near-term upward price momentum. Surging Earnings Estimates Signal Upside
• Neutral Sentiment: Broader coverage from Zacks (sector comparisons, value/momentum write-ups) is increasing investor attention on FCX; useful for volume and sentiment but not a direct fundamental catalyst. FCX Attracting Investor Attention
• Negative Sentiment: Chairman Richard C. Adkerson sold 152,960 shares on Feb. 11 at about $64.65 (~$9.9M); large insider dispositions can weigh on sentiment even if explained by diversification or planned liquidity. Adkerson Feb 11 SEC Filing
• Negative Sentiment: Adkerson also sold 248,031 shares on Feb. 10 at roughly $62.80 (~$15.6M) in a separate transaction; multiple large sales over consecutive days amplify potential negative headlines. Adkerson Feb 10 SEC Filing
• Negative Sentiment: EVP Douglas Currault II sold 75,000 shares on Feb. 11 at ~ $64.52 (~$4.84M). While still retaining a large stake, the sale is another near-term negative for insider-sentiment metrics. Currault Feb 11 SEC Filing

Freeport-McMoRan Stock Up 3.4%

NYSE FCX opened at $65.41 on Thursday. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $69.44. The company has a current ratio of 2.29, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The stock has a market cap of $93.92 billion, a PE ratio of 43.32, a P/E/G ratio of 0.72 and a beta of 1.47. The stock’s 50 day moving average is $55.25 and its 200 day moving average is $46.58.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, January 22nd. The natural resource company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.28 by $0.19. The firm had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.42 billion. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Research analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Cuts Dividend

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

About Freeport-McMoRan

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.