Fairvoy Private Wealth LLC Acquires Shares of 14,222 Freeport-McMoRan Inc. $FCX

Fairvoy Private Wealth LLC acquired a new stake in Freeport-McMoRan Inc. (NYSE:FCX) in the 1st quarter, HoldingsChannel reports. The fund acquired 14,222 shares of the natural resource company’s stock, valued at approximately $836,000.

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in Freeport-McMoRan by 190.9% during the third quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock worth $1,431,326,000 after acquiring an additional 23,950,557 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Freeport-McMoRan by 98.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 19,973,108 shares of the natural resource company’s stock valued at $1,014,434,000 after acquiring an additional 9,924,573 shares during the period. Franklin Resources Inc. lifted its holdings in Freeport-McMoRan by 31.2% in the fourth quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company’s stock valued at $1,897,202,000 after acquiring an additional 8,891,743 shares during the period. Amundi lifted its holdings in Freeport-McMoRan by 102.5% in the fourth quarter. Amundi now owns 14,211,579 shares of the natural resource company’s stock valued at $721,806,000 after acquiring an additional 7,192,955 shares during the period. Finally, PointState Capital LP purchased a new stake in Freeport-McMoRan in the 4th quarter worth approximately $198,523,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 1.5%

Shares of NYSE:FCX opened at $62.79 on Friday. Freeport-McMoRan Inc. has a 1 year low of $35.15 and a 1 year high of $72.28. The firm has a market capitalization of $90.26 billion, a price-to-earnings ratio of 33.40, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. The business’s 50 day moving average price is $64.73 and its 200-day moving average price is $60.70.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. On average, equities research analysts forecast that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be given a $0.075 dividend. The ex-dividend date 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 15.96%.

Key Freeport-McMoRan News

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

• Positive Sentiment: BMO Capital Markets raised its price target on Freeport-McMoRan to $78 from $68 and kept an outperform rating, signaling more upside potential for the stock. BMO Capital adjusts price target on Freeport-McMoRan
• Positive Sentiment: Freeport-McMoRan declared a quarterly cash dividend of $0.15 per share, which includes both a base dividend and a variable dividend, reinforcing shareholder returns and reflecting confidence in cash generation. Freeport declares quarterly cash dividends
• Positive Sentiment: FCX has been showing relative strength versus the broader market, with recent trading action indicating the stock has been rising while the market has dipped. FCX gains as market dips
• Neutral Sentiment: Freeport-McMoRan is also being highlighted as one of the most watched stocks on Zacks, suggesting elevated investor interest, but not necessarily a direct fundamental catalyst. FCX is attracting investor attention
• Neutral Sentiment: Some market commentary says FCX underperformed competitors on Tuesday, which may point to normal trading rotation rather than a major negative company event. Freeport-McMoRan stock underperforms Tuesday when compared to competitors

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FCX. Raymond James Financial dropped their price objective on shares of Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. BMO Capital Markets boosted their target price on shares of Freeport-McMoRan from $68.00 to $78.00 and gave the company an “outperform” rating in a research note on Tuesday. Scotiabank increased their price target on shares of Freeport-McMoRan from $67.00 to $77.00 and gave the stock a “sector outperform” rating in a report on Monday, June 15th. JPMorgan Chase & Co. dropped their price target on shares of Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Finally, Weiss Ratings raised shares of Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Two 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.27.

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.