Rhumbline Advisers Has $96.22 Million Position in Freeport-McMoRan Inc. $FCX

Rhumbline Advisers cut its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,453,257 shares of the natural resource company’s stock after selling 16,748 shares during the quarter. Rhumbline Advisers owned approximately 0.17% of Freeport-McMoRan worth $96,217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Portside Wealth Group LLC lifted its position in Freeport-McMoRan by 0.8% during the second quarter. Portside Wealth Group LLC now owns 30,333 shares of the natural resource company’s stock worth $1,315,000 after acquiring an additional 245 shares during the last quarter. Hollencrest Capital Management increased its stake in shares of Freeport-McMoRan by 0.6% during the second quarter. Hollencrest Capital Management now owns 45,133 shares of the natural resource company’s stock worth $1,957,000 after purchasing an additional 250 shares during the period. Benjamin Edwards Inc. increased its stake in shares of Freeport-McMoRan by 0.6% during the third quarter. Benjamin Edwards Inc. now owns 45,095 shares of the natural resource company’s stock worth $1,769,000 after purchasing an additional 250 shares during the period. Waterloo Capital L.P. boosted its stake in Freeport-McMoRan by 3.9% in the 2nd quarter. Waterloo Capital L.P. now owns 6,658 shares of the natural resource company’s stock valued at $289,000 after purchasing an additional 251 shares during the period. Finally, Transcend Capital Advisors LLC boosted its stake in Freeport-McMoRan by 3.1% in the 3rd quarter. Transcend Capital Advisors LLC now owns 8,491 shares of the natural resource company’s stock valued at $333,000 after purchasing an additional 257 shares during the period. Institutional investors own 80.77% 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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FCX shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Freeport-McMoRan in a report on Wednesday, November 26th. UBS Group lifted their price objective on shares of Freeport-McMoRan from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. increased their target price on shares of Freeport-McMoRan from $58.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. BMO Capital Markets raised their target price on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Finally, HSBC boosted their price target on Freeport-McMoRan from $48.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. One investment 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’s stock. Based on data from MarketBeat.com, Freeport-McMoRan has an average rating of “Moderate Buy” and an average target price of $59.35.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $65.41 on Thursday. The firm’s 50 day simple moving average is $55.25 and its 200 day simple moving average is $46.58. The firm has a market capitalization of $93.92 billion, a price-to-earnings ratio of 43.32, a P/E/G ratio of 0.72 and a beta of 1.47. The company has a current ratio of 2.29, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $69.44.

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

Freeport-McMoRan Cuts Dividend

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

Insiders Place Their Bets

In other news, EVP Douglas N. Currault II sold 75,000 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $64.52, for a total value of $4,839,000.00. Following the completion of the transaction, the executive vice president owned 219,181 shares of the company’s stock, valued at approximately $14,141,558.12. This represents a 25.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard C. Adkerson sold 248,031 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $62.80, for a total transaction of $15,576,346.80. Following the completion of the sale, the chairman owned 3,509,119 shares in the company, valued at approximately $220,372,673.20. The trade was a 6.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 513,986 shares of company stock worth $32,124,432 in the last ninety days. Insiders own 0.75% of the company’s stock.

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.