Mizuho Markets Cayman LP Takes $10.67 Million Position in Freeport-McMoRan Inc. $FCX

Mizuho Markets Cayman LP purchased a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 181,500 shares of the natural resource company’s stock, valued at approximately $10,669,000. Freeport-McMoRan makes up approximately 0.6% of Mizuho Markets Cayman LP’s holdings, making the stock its 23rd biggest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new position in Freeport-McMoRan in the 4th quarter valued at approximately $25,000. Steph & Co. lifted its position in shares of Freeport-McMoRan by 43.7% during the first quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock worth $29,000 after acquiring an additional 150 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Freeport-McMoRan in the first quarter worth $29,000. Kemnay Advisory Services Inc. bought a new position in shares of Freeport-McMoRan in the fourth quarter worth $29,000. Finally, SHP Wealth Management purchased a new position in shares of Freeport-McMoRan in the fourth quarter valued at $30,000. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Trading Up 3.6%

Shares of FCX stock opened at $64.83 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. Freeport-McMoRan Inc. has a 52-week low of $35.15 and a 52-week high of $72.28. The company has a market capitalization of $93.20 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 0.63 and a beta of 1.37. The business’s fifty day moving average is $63.64 and its 200 day moving average is $62.25.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the previous year, the business earned $0.24 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. On average, equities research analysts anticipate that Freeport-McMoRan Inc. will post 2.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 15.96%.

Trending Headlines about Freeport-McMoRan

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

• Positive Sentiment: Stifel Nicolaus raised its price target on FCX to $80 from $76 and kept a buy rating, signaling confidence in further upside for the copper miner. Analyst rating update
• Positive Sentiment: Analysts have been lifting earnings estimates ahead of FCX’s Q2 report, with forecasts calling for higher profit even as revenue is expected to decline, suggesting strong cost control and operating efficiency. Earnings forecast article
• Positive Sentiment: Several previews say FCX could be one of the mining names most likely to beat Q2 earnings estimates, helped by stronger commodity pricing. Mining stocks preview
• Positive Sentiment: Longer-term demand themes remain constructive, with AI data-center buildout expected to boost copper consumption and benefit major miners like FCX. AI copper demand article
• Neutral Sentiment: Investors are waiting for FCX’s Q2 earnings release, with market focus on whether copper price support can offset softer volumes and higher costs. Earnings preview
• Negative Sentiment: Copper prices dropped sharply intraday, which could weigh on FCX because the company’s earnings are highly sensitive to copper pricing. Copper price drop article

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. CICC Research decreased their price objective on Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating on the stock in a research note on Tuesday, April 28th. Barclays raised their target price on Freeport-McMoRan from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Stifel Nicolaus lifted their target price on Freeport-McMoRan from $76.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday. HSBC upped their price target on Freeport-McMoRan from $72.00 to $75.00 in a research report on Friday, June 12th. Finally, Citigroup restated a “positive” rating on shares of Freeport-McMoRan in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $68.95.

Freeport-McMoRan 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.