Freeport-McMoRan (NYSE:FCX) Hits New 52-Week High – Time to Buy?

Freeport-McMoRan Inc. (NYSE:FCX) hit a new 52-week high on Wednesday . The company traded as high as $69.60 and last traded at $68.6690, with a volume of 2333057 shares changing hands. The stock had previously closed at $67.88.

Key Stories Impacting Freeport-McMoRan

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

• Positive Sentiment: Freeport secured a long‑term extension of operating rights at the Grasberg copper‑gold complex through 2041 with revised ownership/governance and bigger community and exploration commitments — this materially reduces near‑term legal/regulatory risk for a core asset and supports long‑term production visibility. Read More.
• Positive Sentiment: Base metals, led by copper, rallied as Chinese traders returned to the market — higher copper prices are an immediate, direct tailwind to FCX’s revenue and free cash flow outlook. Read More.
• Positive Sentiment: Analyst sentiment has turned more favorable: at least one shop upgraded FCX to “strong‑buy” (reported via Zacks) and multiple firms have recently raised price targets — these upgrades can amplify buying momentum after the Grasberg news. Read More.
• Neutral Sentiment: Comparative coverage places FCX vs. Southern Copper (SCCO) as peers exposed to copper volatility; pieces note both firms are funding big projects from strong cash flow — useful for positioning but not an immediate catalyst. Read More.
• Neutral Sentiment: Freeport’s presentation at the BMO Global Metals & Mining conference is available (transcript); investors should watch management commentary for any updates to guidance or capex/timing on key projects. Read More.
• Negative Sentiment: Insider selling: CAO Stephen T. Higgins sold 29,654 shares at roughly $63 each (SEC filing), trimming his stake by ~28% — while such sales can be routine, they may be viewed negatively by momentum or sentiment‑driven investors. Read More.
• Negative Sentiment: Coverage highlighting insider exits across names (including FCX) frames these sales as part of post‑rally profit‑taking, a potential psychological headwind after recent strong gains. Read More.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. CICC Research upped their price target on Freeport-McMoRan from $50.40 to $64.40 and gave the stock an “outperform” rating in a report on Monday, January 26th. UBS Group lifted their price objective on shares of Freeport-McMoRan from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Argus upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Friday, February 13th. JPMorgan Chase & Co. lifted their price objective on Freeport-McMoRan from $58.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Finally, BMO Capital Markets increased their target price on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.73.

Freeport-McMoRan Stock Up 1.9%

The company has a fifty day moving average price of $58.34 and a 200-day moving average price of $48.05. The company has a quick ratio of 1.05, a current ratio of 2.29 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $99.41 billion, a P/E ratio of 45.84, a PEG ratio of 0.72 and a beta of 1.47.

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

Freeport-McMoRan Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Thursday, January 15th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, January 15th. Freeport-McMoRan’s dividend payout ratio is presently 19.87%.

Insider Activity at Freeport-McMoRan

In other Freeport-McMoRan news, EVP Douglas N. Currault II sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $64.52, for a total transaction of $4,839,000.00. Following the completion of the sale, the executive vice president directly owned 219,181 shares in the company, valued at approximately $14,141,558.12. The trade was a 25.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Stephen T. Higgins sold 29,654 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $63.00, for a total value of $1,868,202.00. Following the completion of the transaction, the chief accounting officer owned 76,445 shares in the company, valued at $4,816,035. The trade was a 27.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 603,140 shares of company stock valued at $37,660,139 in the last three months. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Freeport-McMoRan

Hedge funds and other institutional investors have recently modified their holdings of the stock. Steigerwald Gordon & Koch Inc. purchased a new stake in Freeport-McMoRan in the third quarter valued at $25,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Freeport-McMoRan during the 2nd quarter worth approximately $28,000. Salomon & Ludwin LLC boosted its holdings in Freeport-McMoRan by 1,962.9% in the third quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 687 shares during the period. Kemnay Advisory Services Inc. purchased a new position in shares of Freeport-McMoRan in the 4th quarter valued at about $29,000. Finally, JPL Wealth Management LLC purchased a new position in Freeport-McMoRan in the third quarter worth approximately $33,000. 80.77% of the stock is owned by institutional investors and hedge funds.

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.