Aaron Wealth Advisors LLC Sells 55,860 Shares of Freeport-McMoRan Inc. $FCX

Aaron Wealth Advisors LLC reduced its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 23.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 182,234 shares of the natural resource company’s stock after selling 55,860 shares during the quarter. Freeport-McMoRan makes up about 0.6% of Aaron Wealth Advisors LLC’s holdings, making the stock its 26th biggest holding. Aaron Wealth Advisors LLC’s holdings in Freeport-McMoRan were worth $10,712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FCX. Brighton Jones LLC boosted its stake in shares of Freeport-McMoRan by 24.2% during the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock valued at $564,000 after purchasing an additional 2,882 shares in the last quarter. Bison Wealth LLC raised its stake in Freeport-McMoRan by 5.6% in the fourth quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after buying an additional 507 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Freeport-McMoRan in the second quarter worth about $560,000. Brown Advisory Inc. lifted its holdings in Freeport-McMoRan by 27.0% in the second quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock worth $539,000 after buying an additional 2,648 shares during the period. Finally, Jump Financial LLC lifted its holdings in Freeport-McMoRan by 42.7% in the second quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company’s stock worth $2,172,000 after buying an additional 14,992 shares during the period. 80.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on FCX shares. JPMorgan Chase & Co. cut their price objective on Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Bank of America raised their target price on Freeport-McMoRan from $68.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Citigroup dropped their price target on Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Jefferies Financial Group upped their price target on Freeport-McMoRan from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Finally, Sanford C. Bernstein increased their price objective on Freeport-McMoRan from $53.50 to $58.50 and gave the stock a “market perform” rating in a report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and a consensus price target of $68.27.

Key Headlines Impacting Freeport-McMoRan

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

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $62.79 on Friday. The business has a fifty day moving average price of $64.73 and a 200-day moving average price of $60.70. 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 company has a market capitalization of $90.26 billion, a PE ratio of 33.40, a PEG ratio of 0.75 and a beta of 1.35. Freeport-McMoRan Inc. has a 1-year low of $35.15 and a 1-year high of $72.28.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) 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 company had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter in the previous year, the business posted $0.24 EPS. Freeport-McMoRan’s revenue was up 8.8% compared to the same quarter last year. As a group, equities analysts expect that Freeport-McMoRan Inc. will post 2.56 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

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

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.