Freeport-McMoRan (NYSE:FCX) Given New $75.00 Price Target at BNP Paribas Exane

Freeport-McMoRan (NYSE:FCX) had its target price hoisted by BNP Paribas Exane from $56.00 to $75.00 in a research report released on Thursday,MarketScreener reports. They currently have an outperform rating on the natural resource company’s stock.

Several other research firms also recently commented on FCX. CICC Research upped their price objective on shares of Freeport-McMoRan from $50.40 to $64.40 and gave the company an “outperform” rating in a report on Monday, January 26th. Scotiabank upped their price objective on shares of Freeport-McMoRan from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Wells Fargo & Company raised their target price on Freeport-McMoRan from $55.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Citigroup increased their price target on shares of Freeport-McMoRan from $48.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Finally, Wall Street Zen raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.26.

Freeport-McMoRan Stock Up 0.9%

Shares of NYSE:FCX traded up $0.57 during trading on Thursday, reaching $62.61. The stock had a trading volume of 3,266,994 shares, compared to its average volume of 23,063,809. The firm’s 50-day simple moving average is $55.59 and its 200 day simple moving average is $46.68. 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 has a one year low of $27.66 and a one year high of $69.44. The company has a market capitalization of $89.91 billion, a P/E ratio of 41.47, a PEG ratio of 0.74 and a beta of 1.47.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 EPS. As a group, research analysts expect that Freeport-McMoRan will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Cuts Dividend

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

Insider Activity

In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 28,423 shares of Freeport-McMoRan stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 105,294 shares in the company, valued at approximately $5,053,059.06. The trade was a 21.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Douglas N. Currault II sold 75,000 shares of Freeport-McMoRan stock in a transaction that occurred on Wednesday, February 11th. The stock was 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 directly owned 219,181 shares in the company, valued at approximately $14,141,558.12. This represents a 25.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 513,986 shares of company stock valued at $32,124,432. 0.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Freeport-McMoRan

Several institutional investors and hedge funds have recently made changes to their positions in the business. Great Lakes Advisors LLC increased its holdings in shares of Freeport-McMoRan by 8.0% during the 3rd quarter. Great Lakes Advisors LLC now owns 1,551,258 shares of the natural resource company’s stock worth $60,840,000 after buying an additional 115,285 shares during the last quarter. New York Life Investment Management LLC raised its position in Freeport-McMoRan by 11.8% in the second quarter. New York Life Investment Management LLC now owns 215,058 shares of the natural resource company’s stock valued at $9,323,000 after purchasing an additional 22,766 shares during the period. Summit Global Investments raised its position 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 purchasing an additional 33,959 shares during the period. Arrow Capital Pty Ltd lifted its stake in shares of Freeport-McMoRan by 88.5% in 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 grew its holdings in shares of 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 worth $15,213,000 after purchasing an additional 20,586 shares during the period. Institutional investors own 80.77% of the company’s stock.

Trending Headlines about Freeport-McMoRan

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

• Positive Sentiment: Argus upgraded FCX from “hold” to “buy,” a near-term catalyst that can attract buyer interest. Finviz
• Positive Sentiment: Stifel Nicolaus raised its price target to $76 and maintained a “buy”—the new target implies material upside vs. recent levels and reinforces broker confidence. BayStreet.CA
• Positive Sentiment: Zacks reports that earnings estimate revisions for FCX have trended higher (“surging estimates”), supporting the view that fundamentals and analyst expectations are improving. Surging Earnings Estimates Signal Upside
• Neutral Sentiment: Several media/analyst pieces are highlighting FCX as a momentum/value story, increasing retail and institutional attention (informational—may amplify moves but not a direct operational catalyst). Is It Too Late To Consider Freeport-McMoRan?
• Negative Sentiment: Grasberg-related operational setbacks reduced Q4 volumes, denting reported sales despite higher realized prices—this is a fundamental headwind for near-term revenue/volume. Grasberg Setbacks Weigh on FCX’s Q4 Volumes
• Negative Sentiment: Chairman Richard Adkerson sold 152,960 shares on Feb. 11 (~$64.65 avg), a large insider disposition that can sap sentiment even if not tied to company fundamentals. Adkerson Feb 11 SEC Filing
• Negative Sentiment: Chairman Richard Adkerson also sold 248,031 shares on Feb. 10 (~$62.80 avg), a separate large block that increases selling-related pressure on the stock. Adkerson Feb 10 SEC Filing
• Negative Sentiment: EVP Douglas Currault II sold 75,000 shares (~$64.52 avg, ~$4.84M); while insiders still hold large positions, the sale is another near-term negative for sentiment. Douglas Currault II Sells 75,000 Shares

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.