Freeport-McMoRan Inc. (NYSE:FCX – Get Free Report)’s stock price rose 1.1% during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $58.15 and last traded at $57.1190. Approximately 13,752,855 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 21,269,555 shares. The stock had previously closed at $56.48.
The newly announced dividend which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be 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 of this dividend is Wednesday, April 15th. Freeport-McMoRan’s dividend payout ratio is 19.87%.
Wall Street Analysts Forecast Growth
FCX has been the subject of a number of analyst reports. BMO Capital Markets raised their price objective on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. UBS Group increased their price target on shares of Freeport-McMoRan from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Morgan Stanley set a $70.00 price target on shares of Freeport-McMoRan in a research report on Tuesday, January 27th. Citigroup boosted their price objective on shares of Freeport-McMoRan from $48.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Finally, Freedom Capital upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Saturday, February 21st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.59.
Freeport-McMoRan Trading Up 1.1%
The company has a current ratio of 2.29, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $82.09 billion, a PE ratio of 37.83, a P/E/G ratio of 0.64 and a beta of 1.41. The stock has a 50 day moving average price of $61.53 and a 200-day moving average price of $50.48.
Freeport-McMoRan (NYSE:FCX – Get Free Report) last posted its quarterly earnings data on Thursday, January 22nd. The natural resource company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.19. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The company had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter in the prior year, the business earned $0.31 earnings per share. Freeport-McMoRan’s revenue for the quarter was down 1.5% compared to the same quarter last year. Sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.
Trending Headlines about Freeport-McMoRan
Here are the key news stories impacting Freeport-McMoRan this week:
- Positive Sentiment: Board declares a $0.15/share cash dividend (base $0.075 + variable $0.075) payable May 1, record April 15; reinforces shareholder return policy and signals management confidence in cash flow. Freeport Declares Quarterly Cash Dividends on Common Stock
- Positive Sentiment: Industrial metals prices rose after reports the U.S. launched a diplomatic push to end the Middle East conflict; higher copper/metal prices support Freeport’s revenue outlook. Industrial metals rise as U.S. launches diplomatic push to end Middle East war
- Positive Sentiment: Freeport’s CEO publicly expressed confidence in long-term copper demand despite the Iran conflict—helps reassure investors about underlying demand fundamentals. Freeport-McMoRan confident in copper demand despite Iran conflict, CEO says
- Positive Sentiment: Analyst coverage remains constructive—brokerages give an average “Moderate Buy” rating, supporting investor interest. Freeport-McMoRan Inc. (NYSE:FCX) Given Average Rating of “Moderate Buy” by Brokerages
- Positive Sentiment: Several bullish commentaries view recent FCX drawdown as a buying opportunity, which can attract value-focused inflows. Freeport-McMoRan: The Drawdown Is A Gift
- Neutral Sentiment: Market coverage noted a recent intraday advance (+2.8%) in FCX as markets reacted—useful context but descriptive rather than a driver. Freeport Declares Quarterly Cash Dividends on Common Stock
- Negative Sentiment: Coverage calling FCX a “fallen angel” unfairly hit by the Iran war underscores persistent geopolitical risk that can pressure the stock while uncertainty remains. FCX, WCN, and TDG are some of the ‘fallen angel’ stocks unfairly impacted by Iran war – DCLA
Insider Transactions at Freeport-McMoRan
In related news, Chairman Richard C. Adkerson sold 248,031 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $62.80, for a total transaction of $15,576,346.80. Following the completion of the sale, the chairman directly owned 3,509,119 shares in the company, valued at approximately $220,372,673.20. The trade was a 6.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Maree E. Robertson sold 48,500 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $61.55, for a total transaction of $2,985,175.00. Following the sale, the chief financial officer directly owned 79,894 shares of the company’s stock, valued at approximately $4,917,475.70. This represents a 37.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 565,145 shares of company stock worth $35,839,918. 0.79% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Freeport-McMoRan
A number of hedge funds have recently modified their holdings of the business. Brighton Jones LLC grew its holdings in Freeport-McMoRan by 24.2% during the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock valued at $564,000 after purchasing an additional 2,882 shares during the period. Bison Wealth LLC raised its stake in shares of Freeport-McMoRan by 5.6% in the fourth quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after buying an additional 507 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Freeport-McMoRan during the 2nd quarter valued at about $560,000. Boston Partners grew its stake in shares of Freeport-McMoRan by 14.9% during the 2nd quarter. Boston Partners now owns 5,542,388 shares of the natural resource company’s stock valued at $240,230,000 after acquiring an additional 716,770 shares during the period. Finally, Intech Investment Management LLC grew its stake in shares of Freeport-McMoRan by 40.1% during the 2nd quarter. Intech Investment Management LLC now owns 25,184 shares of the natural resource company’s stock valued at $1,092,000 after acquiring an additional 7,211 shares during the period. Institutional investors own 80.77% of the company’s stock.
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.
Recommended Stories
Receive News & Ratings for Freeport-McMoRan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoRan and related companies with MarketBeat.com's FREE daily email newsletter.
