Flputnam Investment Management Co. Sells 10,055 Shares of Freeport-McMoRan Inc. $FCX

Flputnam Investment Management Co. lessened its position in Freeport-McMoRan Inc. (NYSE:FCX) by 6.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 150,592 shares of the natural resource company’s stock after selling 10,055 shares during the quarter. Flputnam Investment Management Co.’s holdings in Freeport-McMoRan were worth $9,471,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL purchased a new stake in Freeport-McMoRan in the fourth quarter worth $25,000. Steph & Co. boosted its holdings in shares of Freeport-McMoRan by 43.7% during the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock valued at $29,000 after buying an additional 150 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Freeport-McMoRan in the 1st quarter worth about $29,000. Kemnay Advisory Services Inc. bought a new position in shares of Freeport-McMoRan in the 4th quarter worth about $29,000. Finally, SHP Wealth Management purchased a new position in Freeport-McMoRan during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $76.54 on Friday. The company has a market cap of $109.91 billion, a price-to-earnings ratio of 37.70, a P/E/G ratio of 0.76 and a beta of 1.37. The company has a current ratio of 2.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $80.24. The business’s fifty day simple moving average is $65.46 and its two-hundred day simple moving average is $64.02.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.12. The firm had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $6.62 billion. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%.The company’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS. Research analysts anticipate that Freeport-McMoRan Inc. will post 2.79 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Wednesday, July 15th were given a dividend of $0.075 per share. The ex-dividend date was Wednesday, July 15th. This represents a $0.30 annualized dividend and a yield of 0.4%. Freeport-McMoRan’s payout ratio is 14.78%.

Freeport-McMoRan News Roundup

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

• Positive Sentiment: Recent performance data shows strong momentum, with FCX gaining significantly over the past month, quarter, and year. Zacks also identifies the stock as a strong momentum name, which may continue attracting trend-focused investors. Freeport McMoRan On Smelter Optimism And Whether The Stock Is Already Priced In Here’s Why Freeport-McMoRan Is a Strong Momentum Stock
• Positive Sentiment: Optimism surrounding Freeport-McMoRan’s smelter operations and favorable copper prices supports the company’s growth outlook. A new Erste Group Bank coverage initiation with a “buy” rating also adds positive analyst sentiment. Erste Group Bank coverage
• Positive Sentiment: FCX recently exceeded quarterly earnings and revenue expectations, reporting $0.74 in earnings per share versus a $0.62 consensus estimate and revenue of $7.03 billion versus $6.62 billion expected. Analysts broadly maintain a “Moderate Buy” view, although the average published price target is below the current trading range.
• Neutral Sentiment: Analysts comparing FCX with BHP Group point to strong copper prices, healthy finances, and ongoing growth projects at both miners. The comparison supports the sector outlook but does not provide a clear company-specific catalyst. FCX versus BHP
• Negative Sentiment: Valuation concerns are weighing on the stock after its copper-fueled rally. While a discounted-cash-flow analysis suggests potential upside, market-multiple measures indicate FCX may be expensive following its strong run. Freeport-McMoRan Stock May Be Pricey After Record Copper Rally
• Negative Sentiment: Executive Vice President Douglas Currault II sold 80,000 shares worth approximately $6.3 million, reducing his holdings by 27.5%. Although the sale may be personal or scheduled, it can reinforce profit-taking concerns when the stock is near record levels. Freeport-McMoRan Insider Selling

Wall Street Analyst Weigh In

FCX has been the topic of a number of recent research reports. Barclays upped their price objective on shares of Freeport-McMoRan from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. JPMorgan Chase & Co. boosted their price target on Freeport-McMoRan from $73.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Wall Street Zen cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. BMO Capital Markets restated an “outperform” rating and issued a $78.00 price target on shares of Freeport-McMoRan in a research note on Thursday, July 23rd. Finally, BNP Paribas Exane raised their price objective on Freeport-McMoRan from $71.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.27.

Insider Buying and Selling

In other Freeport-McMoRan news, Director Lydia H. Kennard sold 3,798 shares of Freeport-McMoRan stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $79.11, for a total value of $300,459.78. Following the sale, the director owned 122,702 shares of the company’s stock, valued at $9,706,955.22. The trade was a 3.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Stephen T. Higgins sold 14,277 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $69.50, for a total transaction of $992,251.50. Following the sale, the chief accounting officer directly owned 54,618 shares in the company, valued at approximately $3,795,951. The trade was a 20.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 110,398 shares of company stock worth $8,387,271. Company insiders own 0.73% of the company’s stock.

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.