Bessemer Group Inc. Grows Position in Freeport-McMoRan Inc. $FCX

Bessemer Group Inc. grew its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 58.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,960 shares of the natural resource company’s stock after purchasing an additional 16,289 shares during the quarter. Bessemer Group Inc.’s holdings in Freeport-McMoRan were worth $2,584,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Freeport-McMoRan by 24.2% in the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after acquiring an additional 2,882 shares during the period. Bison Wealth LLC grew its position in shares of Freeport-McMoRan by 5.6% during the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock valued at $366,000 after acquiring an additional 507 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Freeport-McMoRan during the 2nd quarter valued at about $560,000. Brown Advisory Inc. increased its stake in shares of Freeport-McMoRan by 27.0% in the 2nd quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock valued at $539,000 after purchasing an additional 2,648 shares in the last quarter. Finally, Jump Financial LLC increased its stake in shares of Freeport-McMoRan by 42.7% in the 2nd quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company’s stock valued at $2,172,000 after purchasing an additional 14,992 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan News Roundup

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

• Positive Sentiment: Stifel Nicolaus raised its price target on Freeport-McMoRan from $76 to $80 and kept a buy rating, signaling confidence in further upside for FCX. Article Link
• Positive Sentiment: Analysts have increased their earnings forecast for FCX’s upcoming quarter to about $0.60 per share, suggesting stronger profitability even though revenue is expected to decline year over year due to cost discipline and operational efficiency. Article Link
• Positive Sentiment: Multiple earnings-preview and sector pieces highlighted FCX as a miner with potential to beat Q2 estimates, helped by stronger commodity prices. Article Link
• Positive Sentiment: Coverage around the global AI data center buildout continues to support the long-term copper demand story, with FCX positioned as a key beneficiary if AI infrastructure spending keeps accelerating. Article Link
• Neutral Sentiment: Recent articles also discussed FCX’s “copper turning point” and its attention in the copper market, but these were more thematic than immediately actionable for the stock. Article Link

Analysts Set New Price Targets

FCX has been the subject of several research analyst reports. Citigroup reaffirmed a “positive” rating on shares of Freeport-McMoRan in a research note on Wednesday, July 15th. UBS Group upped their price objective on shares of Freeport-McMoRan from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. BMO Capital Markets increased their price objective on shares of Freeport-McMoRan from $68.00 to $78.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. HSBC lifted their target price on shares of Freeport-McMoRan from $72.00 to $75.00 in a research report on Friday, June 12th. Finally, Stifel Nicolaus boosted their target price on shares of Freeport-McMoRan from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus target price of $68.95.

Freeport-McMoRan Stock Up 6.4%

Shares of NYSE FCX opened at $62.57 on Wednesday. Freeport-McMoRan Inc. has a 12-month low of $35.15 and a 12-month high of $72.28. The stock has a market cap of $89.94 billion, a PE ratio of 33.28, a P/E/G ratio of 0.59 and a beta of 1.37. The company has a current ratio of 2.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $63.69 and a 200 day moving average of $62.15.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same period last year, the company posted $0.24 EPS. The business’s revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts predict that Freeport-McMoRan Inc. will post 2.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, July 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 15.96%.

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.