Maryland State Retirement & Pension System Acquires 10,670 Shares of Freeport-McMoRan Inc. $FCX

Maryland State Retirement & Pension System grew its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 13.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 87,545 shares of the natural resource company’s stock after acquiring an additional 10,670 shares during the period. Maryland State Retirement & Pension System’s holdings in Freeport-McMoRan were worth $6,128,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its position in shares of Freeport-McMoRan by 3.6% during the 2nd quarter. State Street Corp now owns 66,485,424 shares of the natural resource company’s stock valued at $4,181,268,000 after buying an additional 2,300,416 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Freeport-McMoRan by 20.0% in the 1st quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company’s stock valued at $2,489,069,000 after acquiring an additional 7,044,775 shares during the last quarter. Wellington Management Group LLP grew its position in Freeport-McMoRan by 13.8% in the second quarter. Wellington Management Group LLP now owns 14,918,066 shares of the natural resource company’s stock worth $938,197,000 after acquiring an additional 1,810,698 shares in the last quarter. Amundi grew its position in Freeport-McMoRan by 10.5% in the second quarter. Amundi now owns 11,819,898 shares of the natural resource company’s stock worth $743,353,000 after acquiring an additional 1,125,982 shares in the last quarter. Finally, Jupiter Topco LLC purchased a new position in Freeport-McMoRan in the second quarter worth about $739,890,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Freeport-McMoRan news, EVP Douglas Currault, II sold 80,000 shares of the business’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 owned 211,016 shares in the company, valued at $16,577,416.96. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lydia Kennard sold 3,798 shares of the business’s 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 of the company’s stock, 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 company insiders.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $60.50 on Friday. The firm 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 capitalization of $86.88 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 0.57 and a beta of 1.38. The company has a current ratio of 2.02, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. Freeport-McMoRan Inc. has a 12-month low of $38.85 and a 12-month high of $80.24.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Tuesday, October 27th. The natural resource company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.82 by $0.06. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.36 billion. Freeport-McMoRan had a net margin of 13.03% and a return on equity of 12.09%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. As a group, equities research analysts forecast that Freeport-McMoRan Inc. will post 3.05 EPS for the current year.

Freeport-McMoRan Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on FCX shares. Sanford C. Bernstein reduced their price objective on Freeport-McMoRan from $50.00 to $47.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 9th. Morgan Stanley raised their price objective on Freeport-McMoRan from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 7th. Citigroup lifted their target price on Freeport-McMoRan from $66.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, October 5th. BMO Capital Markets lifted their target price on Freeport-McMoRan from $78.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, September 29th. Finally, Freedom Broker cut their target price on Freeport-McMoRan from $75.00 to $68.00 and set a “hold” rating on the stock in a research report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average price target of $75.30.

Trending Headlines about Freeport-McMoRan

These are some of the FCX headlines that stood out recently:

• 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

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.