Freeport-McMoRan Inc. $FCX Shares Sold by Drummond Knight Asset Management Pty Ltd

Drummond Knight Asset Management Pty Ltd trimmed its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 17.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 950,000 shares of the natural resource company’s stock after selling 197,407 shares during the quarter. Freeport-McMoRan accounts for 11.4% of Drummond Knight Asset Management Pty Ltd’s portfolio, making the stock its 4th largest holding. Drummond Knight Asset Management Pty Ltd owned approximately 0.07% of Freeport-McMoRan worth $37,259,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Twin Peaks Wealth Advisors LLC acquired a new stake in Freeport-McMoRan in the 2nd quarter valued at $28,000. Beacon Capital Management LLC lifted its holdings in shares of Freeport-McMoRan by 59.6% during the second quarter. Beacon Capital Management LLC now owns 876 shares of the natural resource company’s stock valued at $38,000 after acquiring an additional 327 shares during the period. CKW Financial Group acquired a new stake in shares of Freeport-McMoRan in the 1st quarter valued at $40,000. Hilltop National Bank bought a new stake in shares of Freeport-McMoRan in the 2nd quarter worth about $43,000. Finally, NewSquare Capital LLC grew its holdings in shares of Freeport-McMoRan by 74.9% in the 2nd quarter. NewSquare Capital LLC now owns 1,002 shares of the natural resource company’s stock worth $43,000 after purchasing an additional 429 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Freeport-McMoRan

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

• Positive Sentiment: Wells Fargo raised its price target to $55 (from $47), citing the steel/copper backdrop and Freeport’s exposure; this provides analyst support for higher upside. Freeport‑McMoRan price target raised to $55 from $47 at Wells Fargo
• Positive Sentiment: Commodity tailwind: copper has rallied (reported at ~$12,000/ton), improving Freeport’s revenue and margin outlook given its large copper production profile. Market commentary views the rally as supportive of further profit upside. Copper Hits $12,000 a Ton. Time to Mine Freeport‑McMoRan for More Profits?
• Positive Sentiment: Market re‑rating/valuation work: analysts and commentators are reassessing FCX after a ~27% monthly surge, which supports higher multiples if copper stays strong. Freeport‑McMoRan (FCX): Reassessing Valuation After a 27% Monthly Surge and Strong Copper Price Support
• Neutral Sentiment: Earnings preview/near‑term volatility: analysts and preview pieces note upcoming results will be watched closely for realized copper pricing, costs and production trends; guidance and quarter details could swing sentiment. Earnings Preview: What To Expect From Freeport‑McMoRan’s Report
• Negative Sentiment: Multiple securities‑fraud class action notices and lead‑plaintiff solicitations were filed/announced (class period generally Feb 15, 2022–Sep 24, 2025) with a Jan 12, 2026 lead‑plaintiff deadline — this raises legal risk, potential litigation costs and management distraction. Notices from several firms here: Levi & Korsinsky investor notice PR Newswire plaintiff solicitation Faruqi & Faruqi reminder Gross Law Firm notice
• Negative Sentiment: Small downward revisions to Q4/FY‑2026 EPS by Zacks (Q4 to $0.21 from $0.23; FY‑2026 to $1.74 from $1.75) slightly lower near‑term estimates — not large, but notable if trends continue. (Research note reported Dec 22‑23)

Freeport-McMoRan Stock Up 2.4%

NYSE:FCX opened at $51.87 on Wednesday. The company has a market cap of $74.49 billion, a price-to-earnings ratio of 36.53, a P/E/G ratio of 1.14 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.19 and a current ratio of 2.45. The stock’s fifty day moving average price is $42.91 and its two-hundred day moving average price is $42.90. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $52.29.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. Freeport-McMoRan had a return on equity of 7.84% and a net margin of 7.97%.The company had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $6.74 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th will be given a dividend of $0.075 per share. The ex-dividend date is Thursday, January 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.6%. Freeport-McMoRan’s dividend payout ratio is presently 21.13%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Freeport-McMoRan from $47.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday. Scotiabank upgraded shares of Freeport-McMoRan from a “sector perform” rating to a “sector outperform” rating and cut their target price for the company from $51.00 to $47.00 in a research note on Wednesday, November 19th. CICC Research reduced their target price on Freeport-McMoRan from $51.60 to $42.30 and set an “outperform” rating on the stock in a report on Friday, September 26th. BNP Paribas Exane dropped their price target on Freeport-McMoRan from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, December 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Freeport-McMoRan from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, December 5th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $49.49.

Insider Transactions at Freeport-McMoRan

In other news, CAO Ellie L. Mikes sold 9,572 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $47.66, for a total value of $456,201.52. Following the transaction, the chief accounting officer owned 38,761 shares of the company’s stock, valued at approximately $1,847,349.26. This trade represents a 19.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Stephen T. Higgins sold 28,423 shares of Freeport-McMoRan stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $47.99, for a total transaction of $1,364,019.77. Following the sale, the chief accounting officer owned 105,294 shares of the company’s stock, valued at approximately $5,053,059.06. This represents a 21.26% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.79% of the company’s stock.

About Freeport-McMoRan

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.