Freeport-McMoRan (NYSE:FCX) Upgraded at Argus

Argus upgraded shares of Freeport-McMoRan (NYSE:FCX) from a hold rating to a buy rating in a research report report published on Friday morning, Marketbeat.com reports.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets raised their price objective on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 14th. Scotiabank raised their price target on shares of Freeport-McMoRan from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Morgan Stanley set a $70.00 price objective on shares of Freeport-McMoRan in a research report on Tuesday, January 27th. Citigroup increased their target price on shares of Freeport-McMoRan from $48.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Finally, Jefferies Financial Group restated a “buy” rating and set a $68.00 price target on shares of Freeport-McMoRan in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.26.

Freeport-McMoRan Trading Up 1.3%

Shares of NYSE:FCX opened at $62.82 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 2.29. The stock’s 50-day moving average is $55.94 and its 200-day moving average is $46.90. The company has a market cap of $90.21 billion, a P/E ratio of 41.60, a P/E/G ratio of 0.69 and a beta of 1.47. Freeport-McMoRan has a 52-week low of $27.66 and a 52-week high of $69.44.

Freeport-McMoRan (NYSE:FCX) last announced its 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 firm had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.42 billion. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.31 EPS. Equities research analysts predict that Freeport-McMoRan will post 1.68 earnings per share for the current year.

Freeport-McMoRan Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, January 15th. Freeport-McMoRan’s dividend payout ratio is currently 19.87%.

Insider Activity

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 9,572 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $47.66, for a total transaction of $456,201.52. Following the sale, the chief accounting officer directly owned 38,761 shares of the company’s stock, valued at approximately $1,847,349.26. This represents a 19.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Douglas N. Currault II sold 75,000 shares of Freeport-McMoRan stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $64.52, for a total transaction of $4,839,000.00. Following the completion of the transaction, the executive vice president owned 219,181 shares of the company’s stock, valued at $14,141,558.12. This trade represents a 25.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 513,986 shares of company stock worth $32,124,432 over the last 90 days. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Freeport-McMoRan

Several institutional investors have recently bought and sold shares of the business. Leo Wealth LLC grew its position in shares of Freeport-McMoRan by 2.5% during the 4th quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company’s stock worth $347,000 after buying an additional 170 shares during the period. Physician Wealth Advisors Inc. boosted its stake in Freeport-McMoRan by 23.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 924 shares of the natural resource company’s stock valued at $47,000 after acquiring an additional 176 shares during the last quarter. Castle Rock Wealth Management LLC grew its holdings in Freeport-McMoRan by 3.3% during the 4th quarter. Castle Rock Wealth Management LLC now owns 5,687 shares of the natural resource company’s stock worth $289,000 after acquiring an additional 180 shares during the period. GW&K Investment Management LLC raised its position in shares of Freeport-McMoRan by 11.1% during the 4th quarter. GW&K Investment Management LLC now owns 1,840 shares of the natural resource company’s stock valued at $93,000 after acquiring an additional 184 shares during the last quarter. Finally, Private Trust Co. NA raised its position in shares of Freeport-McMoRan by 6.7% during the 4th quarter. Private Trust Co. NA now owns 3,119 shares of the natural resource company’s stock valued at $158,000 after acquiring an additional 195 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Key Headlines Impacting Freeport-McMoRan

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

• Positive Sentiment: BNP Paribas Exane raised its price target on FCX to $75 (from $56) and kept an “outperform” rating — a sizeable lift to upside expectations. Read More.
• Positive Sentiment: Argus upgraded FCX from “hold” to “buy,” reinforcing buy-side momentum and contributing to short‑term demand. Read More.
• Positive Sentiment: Other broker actions (Stifel raised its target to $76; UBS, Wells Fargo and Morgan Stanley have recently lifted targets) add to the analyst-driven narrative supporting higher valuations. Read More.
• Positive Sentiment: Zacks and other research outlets highlight rising earnings-estimate revisions and momentum characteristics for FCX, which can justify multiple expansion if commodity prices and volumes cooperate. Read More.
• Neutral Sentiment: Increased media and analyst attention (multiple Zacks pieces, MSN/Yahoo coverage) is amplifying flows into FCX but is informational rather than a direct operational catalyst. Read More.
• Negative Sentiment: Grasberg production setbacks materially reduced Q4 copper/gold volumes, a real operational headwind that can limit near-term revenue despite stronger prices. Read More.
• Negative Sentiment: Large insider sales: Chairman Richard Adkerson disclosed multi-hundred-thousand‑share disposals (Feb. 10–11 filings) totaling tens of millions of dollars — these trades can sap sentiment even if explained by diversification or tax planning. Read More.
• Negative Sentiment: EVP Douglas Currault II sold 75,000 shares (~$4.8M); insider selling at the executive level is a nearer-term negative for perception of internal conviction. Read More.

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.