Freeport-McMoRan Inc. $FCX Stock Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 2.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,160,598 shares of the natural resource company’s stock after buying an additional 24,593 shares during the quarter. Fifth Third Bancorp’s holdings in Freeport-McMoRan were worth $81,242,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TOWER TRUST & INVESTMENT Co raised its position in Freeport-McMoRan by 1.3% during the third quarter. TOWER TRUST & INVESTMENT Co now owns 12,177 shares of the natural resource company’s stock valued at $852,000 after acquiring an additional 157 shares in the last quarter. Richardson Financial Services Inc. lifted its holdings in Freeport-McMoRan by 11.6% in the second quarter. Richardson Financial Services Inc. now owns 1,539 shares of the natural resource company’s stock valued at $97,000 after acquiring an additional 160 shares during the period. Breakwater Capital Group lifted its holdings in Freeport-McMoRan by 1.0% in the third quarter. Breakwater Capital Group now owns 15,930 shares of the natural resource company’s stock valued at $1,115,000 after acquiring an additional 160 shares during the period. Signature Wealth Management Partners LLC boosted its position in Freeport-McMoRan by 1.4% in the 3rd quarter. Signature Wealth Management Partners LLC now owns 12,271 shares of the natural resource company’s stock worth $859,000 after purchasing an additional 166 shares in the last quarter. Finally, Fiduciary Financial Group LLC boosted its position in Freeport-McMoRan by 2.6% in the 2nd quarter. Fiduciary Financial Group LLC now owns 6,788 shares of the natural resource company’s stock worth $427,000 after purchasing an additional 173 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock opened at $60.50 on Friday. The company has a quick ratio of 0.91, a current ratio of 2.02 and a debt-to-equity ratio of 0.23. Freeport-McMoRan Inc. has a twelve month low of $38.85 and a twelve month high of $80.24. The business has a 50-day moving average price of $68.77 and a 200 day moving average price of $65.29. The firm has a market cap of $86.88 billion, a PE ratio of 25.42, a P/E/G ratio of 0.57 and a beta of 1.38.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Tuesday, October 27th. The natural resource company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. The company had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.36 billion. Freeport-McMoRan had a return on equity of 12.09% and a net margin of 13.03%. Freeport-McMoRan’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. Sell-side analysts predict that Freeport-McMoRan Inc. will post 3.05 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th were issued a $0.0750 dividend. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, October 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 12.61%.

Key Stories Impacting Freeport-McMoRan

Investors following FCX have been watching these stories:

• Positive Sentiment: Argus Research reaffirmed its Buy rating, maintaining a favorable view of Freeport-McMoRan. Argus Research Reaffirms Their Buy Rating on Freeport-McMoRan
• Positive Sentiment: Zacks Research raised several quarterly and annual EPS forecasts, including FY2027 to $3.90 from $3.47 and FY2028 to $4.14 from $3.41. The higher projections point to stronger expected earnings and may support investor sentiment; its FY2026 estimate is $3.14, versus a stated consensus of $3.03. Freeport-McMoRan analyst estimates
• Neutral Sentiment: A Motley Fool comparison says Freeport-McMoRan has performed well this year but considers a copper-miners ETF as an alternative way to invest in the sector. This highlights a diversification option rather than a company-specific change in outlook. Freeport-McMoRan vs. a Copper ETF

Analyst Ratings Changes

FCX has been the topic of a number of analyst reports. Weiss Ratings cut shares of Freeport-McMoRan from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 30th. Wall Street Zen lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Erste Group Bank assumed coverage on shares of Freeport-McMoRan in a research note on Thursday, August 27th. They issued a “buy” rating for the company. Sanford C. Bernstein lowered their price target on shares of Freeport-McMoRan from $50.00 to $47.00 and set a “market perform” rating on the stock in a report on Wednesday, September 9th. Finally, UBS Group lowered their price target on shares of Freeport-McMoRan from $88.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.30.

Insider Buying and Selling

In other news, EVP Douglas N. Currault II sold 80,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $78.56, for a total transaction of $6,284,800.00. Following the completion of the transaction, the executive vice president directly owned 211,016 shares of the company’s stock, valued at $16,577,416.96. This represents a 27.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Lydia H. Kennard sold 3,798 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $79.11, for a total value of $300,459.78. Following the transaction, the director owned 122,702 shares in the company, valued at $9,706,955.22. This trade represents a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.73% of the stock is owned by insiders.

About Freeport-McMoRan

Freeport-McMoRan Inc. is a mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Its products serve industries including construction, manufacturing, electronics and energy. The company operates mines and related facilities in North America, South America and Indonesia. Its assets include the Grasberg minerals district in Indonesia and copper operations in the United States, Peru and Chile. Freeport-McMoRan traces its roots to Freeport Sulphur Company, founded in 1912, and has since developed into a major international mining business.