Freeport-McMoRan Inc. $FCX Stock: Oak Grove Capital LLC Increases Stake

Oak Grove Capital LLC raised its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 492.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 149,001 shares of the natural resource company’s stock after buying an additional 123,843 shares during the quarter. Oak Grove Capital LLC’s holdings in Freeport-McMoRan were worth $10,430,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in FCX. Argus Investors Counsel Inc. acquired a new stake in Freeport-McMoRan in the 3rd quarter worth $259,000. Mirador Capital Partners LP raised its position in shares of Freeport-McMoRan by 3.7% during the third quarter. Mirador Capital Partners LP now owns 135,338 shares of the natural resource company’s stock valued at $9,474,000 after buying an additional 4,770 shares during the last quarter. Biltmore Wealth Management LLC bought a new stake in shares of Freeport-McMoRan in the third quarter valued at about $212,000. Sound Income Strategies LLC bought a new stake in shares of Freeport-McMoRan in the third quarter valued at about $312,000. Finally, Riversedge Advisors LLC grew its position in Freeport-McMoRan by 7.9% during the third quarter. Riversedge Advisors LLC now owns 7,837 shares of the natural resource company’s stock worth $549,000 after buying an additional 573 shares in the last quarter. 80.77% of the stock is owned by institutional investors.

More Freeport-McMoRan News

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

• Positive Sentiment: UBS raised its price target to $88 from $77 and maintained a Buy rating. The higher valuation target signals increased confidence in copper fundamentals and Freeport-McMoRan’s operating outlook. UBS Adjusts Price Target on Freeport-McMoRan to $88 From $77, Maintains Buy Rating
• Positive Sentiment: JPMorgan raised its price target for FCX, while Morgan Stanley said the stock is expected to rise. These positive recommendations reinforce the bullish analyst sentiment surrounding the copper producer. Freeport-McMoRan Stock Gets Price Target Bump from JPMorgan Chase & Co. Freeport-McMoRan Stock Price Expected to Rise, Morgan Stanley Analyst Says
• Neutral Sentiment: Copper remains the key investment driver for Freeport-McMoRan. The company’s earnings are highly sensitive to copper prices and demand, making long-term trends such as grid investment, electrification and industrial growth important to FCX’s valuation and its position in the S&P 500. Why Does Copper Matter for Freeport-McMoRan in S&P 500?
• Negative Sentiment: Zacks Research reduced EPS estimates across multiple periods. Forecasts were lowered for Q3 2026 to $0.61 from $0.63, FY2026 to $2.50 from $2.52, FY2027 to $3.47 from $3.54, and FY2028 to $3.41 from $3.52. The revisions suggest some pressure on expected production, copper pricing or costs, though the cuts were generally modest.
• Negative Sentiment: FCX recently underperformed the broader market in the latest session. That weakness may reflect profit-taking or concern about the lower earnings forecasts, despite the more constructive analyst price targets. Freeport-McMoRan Suffers a Larger Drop Than the General Market

Freeport-McMoRan Price Performance

Shares of FCX stock opened at $73.67 on Friday. The stock’s fifty day simple moving average is $71.78 and its 200 day simple moving average is $66.10. Freeport-McMoRan Inc. has a one year low of $38.54 and a one year high of $80.24. The firm has a market cap of $105.80 billion, a price-to-earnings ratio of 36.29, a P/E/G ratio of 0.68 and a beta of 1.39. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 0.92.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.12. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%. The firm had revenue of $7.03 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the prior year, the company posted $0.54 earnings per share. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, analysts expect that Freeport-McMoRan Inc. will post 2.86 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be issued a dividend of $0.0750 per share. This represents a $0.30 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, October 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 14.78%.

Insider Activity

In related news, EVP Douglas N. Currault II sold 80,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $78.56, for a total transaction of $6,284,800.00. Following the sale, the executive vice president directly owned 211,016 shares in the company, valued at $16,577,416.96. This represents a 27.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lydia H. Kennard sold 3,798 shares of Freeport-McMoRan stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $79.11, for a total value of $300,459.78. Following the completion of the transaction, the director owned 122,702 shares of the company’s stock, valued at approximately $9,706,955.22. The trade was a 3.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 110,398 shares of company stock valued at $8,387,271 in the last ninety days. 0.73% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Freeport-McMoRan from $77.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup lifted their price objective on Freeport-McMoRan from $66.00 to $84.00 and gave the stock a “buy” rating in a report on Monday. BMO Capital Markets raised their target price on Freeport-McMoRan from $78.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 29th. Sanford C. Bernstein decreased their price target on shares of Freeport-McMoRan from $50.00 to $47.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 9th. Finally, UBS Group lifted their price target on shares of Freeport-McMoRan from $77.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.22.

Freeport-McMoRan Profile

Freeport-McMoRan Inc (NYSE: FCX) is a leading international mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Copper is its principal product and is used in electrical systems, construction, transportation, renewable energy infrastructure and other industrial applications. The company also produces copper cathodes and concentrates, gold, molybdenum products and certain quantities of silver and other byproducts.

Freeport-McMoRan operates a portfolio of mining and processing assets in North America, South America and Indonesia.