Mizuho Markets Cayman LP Acquires Shares of 181,500 Freeport-McMoRan Inc. $FCX

Mizuho Markets Cayman LP acquired a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 181,500 shares of the natural resource company’s stock, valued at approximately $10,669,000. Freeport-McMoRan comprises about 0.6% of Mizuho Markets Cayman LP’s portfolio, making the stock its 23rd biggest holding.

A number of other hedge funds have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new position in Freeport-McMoRan during the fourth quarter worth about $25,000. Steph & Co. increased its stake in Freeport-McMoRan by 43.7% in the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock valued at $29,000 after buying an additional 150 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in Freeport-McMoRan in the 1st quarter valued at about $29,000. Kemnay Advisory Services Inc. bought a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $29,000. Finally, SHP Wealth Management bought a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $30,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan News Summary

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

• Positive Sentiment: Stifel Nicolaus raised its price target on FCX to $80 from $76 and kept a buy rating, signaling confidence in further upside for the copper miner. Analyst rating update
• Positive Sentiment: Analysts have been lifting earnings estimates ahead of FCX’s Q2 report, with forecasts calling for higher profit even as revenue is expected to decline, suggesting strong cost control and operating efficiency. Earnings forecast article
• Positive Sentiment: Several previews say FCX could be one of the mining names most likely to beat Q2 earnings estimates, helped by stronger commodity pricing. Mining stocks preview
• Positive Sentiment: Longer-term demand themes remain constructive, with AI data-center buildout expected to boost copper consumption and benefit major miners like FCX. AI copper demand article
• Neutral Sentiment: Investors are waiting for FCX’s Q2 earnings release, with market focus on whether copper price support can offset softer volumes and higher costs. Earnings preview
• Negative Sentiment: Copper prices dropped sharply intraday, which could weigh on FCX because the company’s earnings are highly sensitive to copper pricing. Copper price drop article

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FCX shares. CICC Research reduced their target price on Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating for the company in a report on Tuesday, April 28th. BMO Capital Markets lifted their price target on Freeport-McMoRan from $68.00 to $78.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. HSBC boosted their price objective on Freeport-McMoRan from $72.00 to $75.00 in a research report on Friday, June 12th. Weiss Ratings downgraded Freeport-McMoRan from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 7th. Finally, BNP Paribas Exane lifted their target price on Freeport-McMoRan from $71.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.95.

Freeport-McMoRan Trading Up 3.6%

Shares of FCX stock opened at $64.83 on Thursday. 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 firm has a market cap of $93.20 billion, a P/E ratio of 34.49, a PEG ratio of 0.63 and a beta of 1.37. The company has a 50 day moving average of $63.64 and a 200-day moving average of $62.25. Freeport-McMoRan Inc. has a 12-month low of $35.15 and a 12-month high of $72.28.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the prior year, the business earned $0.24 earnings per share. Freeport-McMoRan’s revenue for the quarter was up 8.8% on a year-over-year basis. Sell-side analysts anticipate that Freeport-McMoRan Inc. will post 2.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, July 15th. Freeport-McMoRan’s dividend payout ratio is currently 15.96%.

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.