Varma Mutual Pension Insurance Co Purchases 41,900 Shares of Freeport-McMoRan Inc. $FCX

Varma Mutual Pension Insurance Co grew its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 8.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 533,667 shares of the natural resource company’s stock after purchasing an additional 41,900 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Freeport-McMoRan were worth $20,930,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FCX. Portside Wealth Group LLC grew its position in Freeport-McMoRan by 0.8% during the second quarter. Portside Wealth Group LLC now owns 30,333 shares of the natural resource company’s stock worth $1,315,000 after buying an additional 245 shares in the last quarter. Hollencrest Capital Management boosted its position in shares of Freeport-McMoRan by 0.6% during the 2nd quarter. Hollencrest Capital Management now owns 45,133 shares of the natural resource company’s stock valued at $1,957,000 after acquiring an additional 250 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Freeport-McMoRan by 0.6% during the third quarter. Benjamin Edwards Inc. now owns 45,095 shares of the natural resource company’s stock worth $1,769,000 after purchasing an additional 250 shares in the last quarter. Waterloo Capital L.P. grew its holdings in shares of Freeport-McMoRan by 3.9% during the second quarter. Waterloo Capital L.P. now owns 6,658 shares of the natural resource company’s stock worth $289,000 after purchasing an additional 251 shares in the last quarter. Finally, Transcend Capital Advisors LLC increased its position in shares of Freeport-McMoRan by 3.1% in the third quarter. Transcend Capital Advisors LLC now owns 8,491 shares of the natural resource company’s stock worth $333,000 after purchasing an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FCX. Morgan Stanley set a $70.00 target price on shares of Freeport-McMoRan in a research report on Tuesday, January 27th. HSBC raised their price objective on shares of Freeport-McMoRan from $48.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Scotiabank lifted their price objective on shares of Freeport-McMoRan from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. BNP Paribas Exane reduced their target price on Freeport-McMoRan from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, December 5th. Finally, Stifel Nicolaus raised their price target on Freeport-McMoRan from $52.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $59.35.

Insider Buying and Selling

In other news, CAO Stephen T. Higgins sold 28,423 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $47.99, for a total value of $1,364,019.77. Following the transaction, the chief accounting officer owned 105,294 shares in the company, valued at approximately $5,053,059.06. This trade represents a 21.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Douglas N. Currault II sold 75,000 shares of Freeport-McMoRan stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $64.52, for a total transaction of $4,839,000.00. Following the completion of the transaction, the executive vice president directly owned 219,181 shares in the company, valued at approximately $14,141,558.12. The trade was a 25.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 513,986 shares of company stock valued at $32,124,432 over the last quarter. Company insiders own 0.75% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $65.41 on Thursday. The company has a quick ratio of 1.05, a current ratio of 2.29 and a debt-to-equity ratio of 0.29. The stock has a market cap of $93.92 billion, a PE ratio of 43.32, a PEG ratio of 0.72 and a beta of 1.47. The company’s fifty day moving average is $55.25 and its 200 day moving average is $46.58. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $69.44.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.19. The firm had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.42 billion. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned $0.31 earnings per share. Research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Thursday, January 15th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, January 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 19.87%.

Trending Headlines about Freeport-McMoRan

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

• Positive Sentiment: Stifel Nicolaus raised its price target on FCX from $52 to $76 and maintained a “buy” rating, giving the stock a notable broker-backed upside case that can support further inflows. BayStreet.CA
• Positive Sentiment: Zacks highlights that earnings estimate revisions for Freeport have trended higher (“surging estimates”), which supports valuation expansion and helps explain near-term upward price momentum. Surging Earnings Estimates Signal Upside
• Neutral Sentiment: Broader coverage from Zacks (sector comparisons, value/momentum write-ups) is increasing investor attention on FCX; useful for volume and sentiment but not a direct fundamental catalyst. FCX Attracting Investor Attention
• Negative Sentiment: Chairman Richard C. Adkerson sold 152,960 shares on Feb. 11 at about $64.65 (~$9.9M); large insider dispositions can weigh on sentiment even if explained by diversification or planned liquidity. Adkerson Feb 11 SEC Filing
• Negative Sentiment: Adkerson also sold 248,031 shares on Feb. 10 at roughly $62.80 (~$15.6M) in a separate transaction; multiple large sales over consecutive days amplify potential negative headlines. Adkerson Feb 10 SEC Filing
• Negative Sentiment: EVP Douglas Currault II sold 75,000 shares on Feb. 11 at ~ $64.52 (~$4.84M). While still retaining a large stake, the sale is another near-term negative for insider-sentiment metrics. Currault Feb 11 SEC Filing

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.