Freeport-McMoRan Sees Unusually High Options Volume (NYSE:FCX)

Freeport-McMoRan Inc. (NYSE:FCX) saw some unusual options trading on Thursday. Stock investors acquired 174,970 call options on the stock. This represents an increase of 65% compared to the typical volume of 105,981 call options.

Key Freeport-McMoRan News

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

• Positive Sentiment: FCX reported a stronger-than-expected quarter (Q4 EPS $0.47 vs. $0.28 est.; revenue $5.63B), which reinforced earnings momentum and helped lift sentiment. Freeport Beats Profit Views As Grasberg Restart Plan Refocuses Investor Debate
• Positive Sentiment: Valuation bulls highlight a large upside: a recent analysis estimates intrinsic value substantially above the current share price, supporting buy-side narratives. Freeport-McMoRan Inc.’s (NYSE:FCX) Intrinsic Value Is Potentially 74% Above Its Share Price
• Positive Sentiment: Multiple analyst upgrades and bullish notes (Scotiabank, CICC and others) have lifted conviction and triggered buying interest from institutional investors. Freeport-McMoRan (NYSE:FCX) Trading 2.8% Higher on Analyst Upgrade
• Positive Sentiment: Unusual options activity: traders bought roughly 174,970 call contracts (≈+65% vs. typical call volume), indicating speculative or hedged bullish positioning that can amplify near-term moves.
• Positive Sentiment: Macro tailwind: copper is rallying on structural demand (electrification, AI data centers) and tightening supply — Freeport, a large pure‑play copper producer, stands to benefit from higher prices and margin leverage. Digging Into Demand: Copper’s Scarcity Premium Is Rising
• Positive Sentiment: Market action confirms momentum: FCX recently hit an all-time intraday high near $68.94, reflecting the combined impact of earnings, upgrades and copper strength. Freeport McMoRan stock hits all-time high at 68.94 USD
• Neutral Sentiment: Grasberg restart plan is back in focus; management commentary is shaping investor debate about timing and capital allocation, keeping forward guidance and production cadence somewhat uncertain. Freeport Beats Profit Views As Grasberg Restart Plan Refocuses Investor Debate
• Negative Sentiment: Operational risk remains: production at Grasberg was constrained after a late‑2025 mudslide — that reduces near-term output (supporting copper prices) but is a direct company-level risk to volumes and near-term free cash flow. Digging Into Demand: Copper’s Scarcity Premium Is Rising

Insider Activity

In related news, CAO Ellie L. Mikes sold 9,572 shares of Freeport-McMoRan stock in a transaction on 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 directly owned 38,761 shares of the company’s stock, valued at $1,847,349.26. The trade was a 19.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Stephen T. Higgins sold 28,423 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were 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 $5,053,059.06. This represents a 21.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Freeport-McMoRan

A number of hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in Freeport-McMoRan by 190.9% in the third quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock valued at $1,431,326,000 after acquiring an additional 23,950,557 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Freeport-McMoRan by 89.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 17,569,169 shares of the natural resource company’s stock valued at $761,623,000 after acquiring an additional 8,292,873 shares during the period. Mizuho Markets Cayman LP purchased a new stake in Freeport-McMoRan in the 2nd quarter worth approximately $159,147,000. Crake Asset Management LLP raised its holdings in Freeport-McMoRan by 60.6% during the second quarter. Crake Asset Management LLP now owns 9,522,673 shares of the natural resource company’s stock valued at $412,808,000 after acquiring an additional 3,593,050 shares during the period. Finally, Voya Investment Management LLC lifted its position in shares of Freeport-McMoRan by 289.0% in the third quarter. Voya Investment Management LLC now owns 3,844,504 shares of the natural resource company’s stock valued at $150,781,000 after acquiring an additional 2,856,302 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

FCX has been the topic of a number of research reports. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $53.50 to $54.00 in a research note on Friday, January 23rd. Raymond James Financial raised their target price on Freeport-McMoRan from $53.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. HSBC upped their price target on Freeport-McMoRan from $48.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Wells Fargo & Company upped their target price on shares of Freeport-McMoRan from $55.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. Finally, BMO Capital Markets lifted their price target on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $58.40.

Freeport-McMoRan Stock Up 2.3%

Shares of Freeport-McMoRan stock opened at $65.08 on Friday. The company has a 50-day simple moving average of $51.64 and a two-hundred day simple moving average of $45.48. The stock has a market capitalization of $93.45 billion, a PE ratio of 43.10, a price-to-earnings-growth ratio of 0.76 and a beta of 1.45. Freeport-McMoRan has a 52-week low of $27.66 and a 52-week high of $69.44. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 2.29.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.19. The company had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.42 billion. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 earnings per share. On average, analysts anticipate that Freeport-McMoRan will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Thursday, January 15th will be issued 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 Thursday, January 15th. Freeport-McMoRan’s dividend payout ratio is presently 19.87%.

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.