Freeport-McMoRan (NYSE:FCX) Upgraded by Argus to “Buy” Rating

Argus upgraded shares of Freeport-McMoRan (NYSE:FCX) from a hold rating to a buy rating in a research report sent to investors on Friday, Marketbeat.com reports.

Several other brokerages also recently weighed in on FCX. BNP Paribas Exane decreased their target price on shares of Freeport-McMoRan from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, December 5th. JPMorgan Chase & Co. boosted their price objective on shares of Freeport-McMoRan from $58.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. Clarkson Capital upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Wednesday, November 19th. Citigroup boosted their price target on Freeport-McMoRan from $48.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Freeport-McMoRan in a research note on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.26.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $62.82 on Friday. The business’s 50-day moving average price is $55.94 and its 200 day moving average price is $46.82. 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 twelve month low of $27.66 and a twelve month high of $69.44. The company has a market capitalization of $90.21 billion, a PE ratio of 41.60, a price-to-earnings-growth ratio of 0.68 and a beta of 1.47.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.19. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The company had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter last year, the business earned $0.31 EPS. Freeport-McMoRan’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, research analysts predict that Freeport-McMoRan will post 1.68 earnings per share for the current year.

Freeport-McMoRan Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th were paid a $0.075 dividend. The ex-dividend date was Thursday, January 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 19.87%.

Insiders Place Their Bets

In related news, Chairman Richard C. Adkerson sold 152,960 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $64.65, for a total transaction of $9,888,864.00. Following the completion of the sale, the chairman directly owned 3,356,159 shares of the company’s stock, valued at $216,975,679.35. This represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Douglas N. Currault II sold 75,000 shares of the stock in a transaction on 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 sale, the executive vice president owned 219,181 shares of the company’s stock, valued at $14,141,558.12. This trade represents a 25.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 513,986 shares of company stock valued at $32,124,432 in the last quarter. 0.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Freeport-McMoRan

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Freeport-McMoRan during the 3rd quarter worth about $25,000. Twin Peaks Wealth Advisors LLC acquired a new position in Freeport-McMoRan in the second quarter worth approximately $28,000. Salomon & Ludwin LLC raised its position in Freeport-McMoRan by 1,962.9% during the third quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company’s stock valued at $29,000 after acquiring an additional 687 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in Freeport-McMoRan in the third quarter valued at approximately $33,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Freeport-McMoRan in the third quarter worth approximately $36,000. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Key Freeport-McMoRan News

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

• Positive Sentiment: BNP Paribas Exane raised its price target on FCX to $75 (from $56) and kept an “outperform” rating — a sizeable lift to upside expectations. Read More.
• Positive Sentiment: Argus upgraded FCX from “hold” to “buy,” reinforcing buy-side momentum and contributing to short‑term demand. Read More.
• Positive Sentiment: Other broker actions (Stifel raised its target to $76; UBS, Wells Fargo and Morgan Stanley have recently lifted targets) add to the analyst-driven narrative supporting higher valuations. Read More.
• Positive Sentiment: Zacks and other research outlets highlight rising earnings-estimate revisions and momentum characteristics for FCX, which can justify multiple expansion if commodity prices and volumes cooperate. Read More.
• Neutral Sentiment: Increased media and analyst attention (multiple Zacks pieces, MSN/Yahoo coverage) is amplifying flows into FCX but is informational rather than a direct operational catalyst. Read More.
• Negative Sentiment: Grasberg production setbacks materially reduced Q4 copper/gold volumes, a real operational headwind that can limit near-term revenue despite stronger prices. Read More.
• Negative Sentiment: Large insider sales: Chairman Richard Adkerson disclosed multi-hundred-thousand‑share disposals (Feb. 10–11 filings) totaling tens of millions of dollars — these trades can sap sentiment even if explained by diversification or tax planning. Read More.
• Negative Sentiment: EVP Douglas Currault II sold 75,000 shares (~$4.8M); insider selling at the executive level is a nearer-term negative for perception of internal conviction. Read More.

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.