Susquehanna Fundamental Investments LLC Purchases New Holdings in Freeport-McMoRan Inc. $FCX

Susquehanna Fundamental Investments LLC acquired a new stake in Freeport-McMoRan Inc. (NYSE:FCX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 157,721 shares of the natural resource company’s stock, valued at approximately $9,919,000.

A number of other hedge funds have also recently made changes to their positions in FCX. Strategic Investment Solutions Inc. IL bought a new stake in Freeport-McMoRan during the 4th quarter valued at about $25,000. Steph & Co. grew its stake in Freeport-McMoRan by 43.7% in the 1st 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 purchased a new position in shares of Freeport-McMoRan during the first quarter worth approximately $29,000. Kemnay Advisory Services Inc. purchased a new position in shares of Freeport-McMoRan during the fourth quarter worth approximately $29,000. Finally, SHP Wealth Management bought a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $30,000. 80.77% of the stock is currently owned by institutional investors.

More Freeport-McMoRan News

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

Insider Activity

In other news, CAO Stephen T. Higgins sold 14,277 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $69.50, for a total value 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. This trade represents a 20.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lydia H. Kennard sold 3,798 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $79.11, for a total transaction of $300,459.78. Following the completion of the sale, the director owned 122,702 shares in the company, valued at $9,706,955.22. This represents a 3.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 110,398 shares of company stock valued at $8,387,271. Corporate insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FCX shares. Barclays boosted their price target on Freeport-McMoRan from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Erste Group Bank began coverage on Freeport-McMoRan in a research report on Thursday. They set a “buy” rating for the company. Sanford C. Bernstein upped their target price on Freeport-McMoRan from $53.50 to $58.50 and gave the stock a “market perform” rating in a report on Wednesday, June 10th. BMO Capital Markets reissued an “outperform” rating and set a $78.00 price target on shares of Freeport-McMoRan in a research report on Thursday, July 23rd. Finally, Bank of America upped their price objective on shares of Freeport-McMoRan from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and an average target price of $70.27.

Freeport-McMoRan Stock Performance

Shares of NYSE:FCX opened at $76.54 on Monday. The company has a market capitalization of $109.91 billion, a price-to-earnings ratio of 37.70, a price-to-earnings-growth ratio of 0.76 and a beta of 1.37. Freeport-McMoRan Inc. has a 52 week low of $35.15 and a 52 week high of $80.24. The company has a quick ratio of 0.92, a current ratio of 2.07 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $65.46 and a 200 day moving average of $64.02.

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

Freeport-McMoRan Dividend Announcement

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

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.