Freeport-McMoRan Inc. $FCX Stock Holdings Boosted by Acumen Wealth Advisors LLC

Acumen Wealth Advisors LLC increased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 990.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,347 shares of the natural resource company’s stock after acquiring an additional 9,398 shares during the period. Acumen Wealth Advisors LLC’s holdings in Freeport-McMoRan were worth $608,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Steph & Co. lifted its stake in shares of 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 during the period. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Freeport-McMoRan in the first quarter valued at $29,000. Strategic Investment Solutions Inc. IL bought a new position in Freeport-McMoRan during the fourth quarter valued at about $25,000. Kemnay Advisory Services Inc. bought a new stake in Freeport-McMoRan in the fourth quarter worth about $29,000. Finally, Financial Life Planners acquired a new stake in Freeport-McMoRan in the 1st quarter valued at about $34,000. 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: 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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of Freeport-McMoRan from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Raymond James Financial decreased their target price on Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Morgan Stanley boosted their target price on Freeport-McMoRan from $66.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Bank of America raised their target price on shares of Freeport-McMoRan from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Finally, CICC Research dropped their target price on shares of Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating on the stock in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.95.

Freeport-McMoRan Price Performance

NYSE FCX opened at $62.57 on Wednesday. The company has a 50 day simple moving average of $63.69 and a 200-day simple moving average of $62.15. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. Freeport-McMoRan Inc. has a 52-week low of $35.15 and a 52-week high of $72.28. The firm has a market capitalization of $89.94 billion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 0.59 and a beta of 1.37.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly 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. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.73 billion. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. Freeport-McMoRan’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 earnings per share. Equities research analysts predict that Freeport-McMoRan Inc. will post 2.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.075 per share. 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 payout ratio 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.