Arizona State Retirement System Reduces Stock Position in Freeport-McMoRan Inc. $FCX

Arizona State Retirement System lowered its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 403,231 shares of the natural resource company’s stock after selling 16,307 shares during the period. Arizona State Retirement System’s holdings in Freeport-McMoRan were worth $20,480,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of Freeport-McMoRan by 190.9% in the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock worth $1,431,326,000 after purchasing an additional 23,950,557 shares during the period. AQR Capital Management LLC increased its stake in shares of Freeport-McMoRan by 205.0% in the 2nd quarter. AQR Capital Management LLC now owns 4,186,621 shares of the natural resource company’s stock worth $181,490,000 after acquiring an additional 2,813,845 shares in the last quarter. Amundi increased its stake in shares of Freeport-McMoRan by 43.7% in the 3rd quarter. Amundi now owns 7,018,624 shares of the natural resource company’s stock worth $282,991,000 after acquiring an additional 2,132,708 shares in the last quarter. Kirkoswald Asset Management LLC bought a new position in shares of Freeport-McMoRan in the 3rd quarter worth about $82,754,200,000. Finally, Schroder Investment Management Group increased its stake in shares of Freeport-McMoRan by 87.6% in the 3rd quarter. Schroder Investment Management Group now owns 4,115,008 shares of the natural resource company’s stock worth $152,749,000 after acquiring an additional 1,921,792 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX opened at $61.12 on Friday. The firm has a 50 day moving average of $62.47 and a 200 day moving average of $53.78. The company has a current ratio of 2.39, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $87.83 billion, a price-to-earnings ratio of 32.51, a price-to-earnings-growth ratio of 0.71 and a beta of 1.48. Freeport-McMoRan Inc. has a 12-month low of $34.45 and a 12-month high of $70.96.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.10. The company had revenue of $6.23 billion during the quarter, compared to analyst estimates of $6.40 billion. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 earnings per share. On average, research analysts anticipate that Freeport-McMoRan Inc. will post 2.54 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, April 15th. Freeport-McMoRan’s payout ratio is 19.87%.

Insider Activity at Freeport-McMoRan

In other Freeport-McMoRan news, CFO Maree E. Robertson sold 48,500 shares of Freeport-McMoRan stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $61.55, for a total transaction of $2,985,175.00. Following the transaction, the chief financial officer owned 79,894 shares of the company’s stock, valued at $4,917,475.70. The trade was a 37.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard C. Adkerson sold 152,960 shares of Freeport-McMoRan stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $64.65, for a total transaction of $9,888,864.00. Following the transaction, the chairman directly owned 3,356,159 shares in the company, valued at $216,975,679.35. This represents a 4.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 565,145 shares of company stock valued at $35,839,918 in the last three months. Corporate insiders own 0.75% of the company’s stock.

Key Freeport-McMoRan News

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

• Positive Sentiment: Q1 beat and cash support — FCX reported stronger‑than‑expected Q1 results (EPS $0.57 vs. ~$0.47 est.) with revenue up ~8.7% YoY; management noted higher realized commodity prices and a ~$700M insurance payment that helped results. Freeport-McMoRan: Less Copper Supply Isn’t All Bad
• Positive Sentiment: Analyst upgrade — UBS raised its price target to $74 and kept a Buy rating, signaling upside based on commodity outlook and valuation. UBS Lifts Price Target on Freeport-McMoRan to $74
• Neutral Sentiment: Market/valuation debate — Several pieces question whether current share price already reflects copper optimism and the recent volatility; investors should weigh the outlook for copper prices vs. reduced volumes. Is Freeport-McMoRan (FCX) Pricing Fully Reflects Recent Copper Optimism And Share Volatility
• Neutral Sentiment: Company materials and call — The earnings presentation and transcript are available for review (useful for guidance detail, cost outlook and timing for Grasberg ramp). Freeport-McMoRan Inc. (FCX) Q1 2026 Earnings Call Transcript
• Negative Sentiment: Grasberg production setbacks — Management cut 2026 copper sales guidance (roughly a 300M lb reduction cited) after a slower Grasberg ramp following last year’s incident; lower volumes directly pressure near‑term revenue and triggered the sell‑off. Freeport McMoRan falls as Grasberg delay cuts 2026 output outlook
• Negative Sentiment: Analyst downgrades and target cuts — Multiple firms trimmed targets or ratings (Morgan Stanley downgraded to Equal Weight and cut its PT; others cut targets or estimates), increasing near‑term selling pressure despite some boutiques still bullish. Morgan Stanley Downgrades Freeport-McMoRan Bernstein Adjusts Price Target on Freeport-McMoRan
• Negative Sentiment: Stock reaction — The market punished FCX on the combination of the production cut and uncertain Grasberg timing (reports of a ~10% intraday drop were published), showing sensitivity to volume risk even with strong commodity prices. Freeport-McMoRan (FCX) Stock Plunges 10% After Slashing Production Forecasts

Wall Street Analyst Weigh In

FCX has been the subject of several research reports. Sanford C. Bernstein decreased their price target on shares of Freeport-McMoRan from $54.00 to $53.50 and set a “market perform” rating for the company in a research note on Friday. Freedom Capital upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Saturday, February 21st. BMO Capital Markets increased their price target 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. Bank of America increased their price target on shares of Freeport-McMoRan from $68.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Wall Street Zen lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.66.

Freeport-McMoRan Company 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.