Clal Insurance Enterprises Holdings Ltd Lowers Position in Freeport-McMoRan Inc. $FCX

Clal Insurance Enterprises Holdings Ltd trimmed its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 25.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 460,142 shares of the natural resource company’s stock after selling 154,858 shares during the quarter. Clal Insurance Enterprises Holdings Ltd’s holdings in Freeport-McMoRan were worth $27,047,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Temasek Holdings Private Ltd raised its position in shares of Freeport-McMoRan by 10.9% in the 1st quarter. Temasek Holdings Private Ltd now owns 669,247 shares of the natural resource company’s stock worth $39,338,000 after acquiring an additional 66,038 shares in the last quarter. ABN Amro Investment Solutions lifted its stake in shares of Freeport-McMoRan by 18.8% in the 1st quarter. ABN Amro Investment Solutions now owns 69,712 shares of the natural resource company’s stock valued at $4,098,000 after purchasing an additional 11,033 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Freeport-McMoRan by 7.1% during the first quarter. PNC Financial Services Group Inc. now owns 298,083 shares of the natural resource company’s stock valued at $17,521,000 after purchasing an additional 19,645 shares in the last quarter. Wilkerson Advisory Group LLC boosted its position in shares of Freeport-McMoRan by 1,610.2% during the first quarter. Wilkerson Advisory Group LLC now owns 3,369 shares of the natural resource company’s stock valued at $198,000 after purchasing an additional 3,172 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in Freeport-McMoRan in the first quarter worth $29,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $62.57 on Wednesday. Freeport-McMoRan Inc. has a twelve month low of $35.15 and a twelve month high of $72.28. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $89.94 billion, a P/E ratio of 33.28, a PEG ratio of 0.59 and a beta of 1.37. The stock’s 50 day moving average is $63.69 and its 200 day moving average is $62.15.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter in the previous year, the business earned $0.24 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts predict that Freeport-McMoRan Inc. will post 2.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company 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. The ex-dividend date is Wednesday, July 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. Freeport-McMoRan’s payout ratio is presently 15.96%.

Analyst Upgrades and Downgrades

FCX has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Freeport-McMoRan in a report on Friday, May 15th. Scotiabank boosted their target price on shares of Freeport-McMoRan from $67.00 to $77.00 and gave the company a “sector outperform” rating in a report on Monday, June 15th. Citigroup reaffirmed a “positive” rating on shares of Freeport-McMoRan in a research report on Wednesday, July 15th. Wells Fargo & Company decreased their price target on shares of Freeport-McMoRan from $77.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Finally, BMO Capital Markets lifted their price target on shares of Freeport-McMoRan from $68.00 to $78.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.95.

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 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

Freeport-McMoRan 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.