Brookstone Capital Management Buys 12,752 Shares of Freeport-McMoRan Inc. $FCX

Brookstone Capital Management lifted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 110.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,336 shares of the natural resource company’s stock after purchasing an additional 12,752 shares during the quarter. Brookstone Capital Management’s holdings in Freeport-McMoRan were worth $1,430,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. KBC Group NV grew its stake in Freeport-McMoRan by 49.0% in the 4th quarter. KBC Group NV now owns 221,838 shares of the natural resource company’s stock valued at $11,267,000 after purchasing an additional 73,002 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Freeport-McMoRan in the 4th quarter worth about $8,857,000. Wellington Management Group LLP raised its position in shares of Freeport-McMoRan by 190.9% in the third quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock valued at $1,431,326,000 after purchasing an additional 23,950,557 shares during the period. Dynamic Technology Lab Private Ltd raised its holdings in Freeport-McMoRan by 426.3% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 81,892 shares of the natural resource company’s stock valued at $3,212,000 after acquiring an additional 66,331 shares during the period. Finally, Powszechne Towarzystwo Emerytalne Allianz Polska S.A. lifted its position in shares of Freeport-McMoRan by 175.4% during the fourth quarter. Powszechne Towarzystwo Emerytalne Allianz Polska S.A. now owns 1,379,760 shares of the natural resource company’s stock worth $70,078,000 after acquiring an additional 878,760 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Weiss Ratings upgraded Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd. BMO Capital Markets raised their price objective on shares of Freeport-McMoRan from $68.00 to $78.00 and gave the company an “outperform” rating in a research report on Tuesday. HSBC increased their target price on Freeport-McMoRan from $72.00 to $75.00 in a research note on Friday, June 12th. Morgan Stanley reissued an “equal weight” rating and set a $66.00 price target (down from $70.00) on shares of Freeport-McMoRan in a research note on Friday, April 24th. Finally, The Goldman Sachs Group boosted their price target on shares of Freeport-McMoRan from $68.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $68.27.

Freeport-McMoRan News Summary

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 Trading Up 1.5%

Shares of FCX opened at $62.79 on Friday. Freeport-McMoRan Inc. has a 1-year low of $35.15 and a 1-year high of $72.28. The firm has a market capitalization of $90.26 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 0.75 and a beta of 1.35. The firm’s 50-day moving average price is $64.73 and its 200-day moving average price is $60.70. The company has a current ratio of 2.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $5.73 billion. During the same period last year, the business posted $0.24 earnings per share. Freeport-McMoRan’s quarterly revenue was up 8.8% compared to the same quarter last year. Sell-side analysts anticipate that Freeport-McMoRan Inc. will post 2.56 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors 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 (DPR) is presently 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.