Freeport-McMoRan (NYSE:FCX) Trading Up 1.1% After Dividend Announcement

Freeport-McMoRan Inc. (NYSE:FCX) shares shot up 1.1% during trading on Wednesday after the company announced a dividend. The stock traded as high as $58.15 and last traded at $57.1190. 13,752,855 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 21,269,555 shares. The stock had previously closed at $56.48.

The newly announced dividend which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 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 is Wednesday, April 15th. Freeport-McMoRan’s payout ratio is 19.87%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FCX. Argus raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Friday, February 13th. CICC Research lifted their target price on Freeport-McMoRan from $50.40 to $64.40 and gave the stock an “outperform” rating in a report on Monday, January 26th. Freedom Capital upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Scotiabank increased their price target on Freeport-McMoRan from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, February 19th. Finally, Jefferies Financial Group raised their price objective on Freeport-McMoRan from $68.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and an average target price of $62.59.

Freeport-McMoRan Trading Up 1.1%

The firm’s 50 day simple moving average is $61.47 and its two-hundred day simple moving average is $50.53. The stock has a market capitalization of $82.09 billion, a P/E ratio of 37.83, a P/E/G ratio of 0.66 and a beta of 1.41. The company has a quick ratio of 1.05, a current ratio of 2.29 and a debt-to-equity ratio of 0.29.

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

Freeport-McMoRan News Roundup

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

• Positive Sentiment: Board declares quarterly cash dividend of $0.15/share (base $0.075 + variable $0.075) payable May 1 to holders of record April 15; variable component signals management confidence in cash flow and can lift income-focused demand. Freeport Declares Quarterly Cash Dividends on Common Stock
• Positive Sentiment: Industrial metals prices are rising after reports the U.S. is pushing a diplomatic effort to end the Middle East war; higher commodity prices typically support Freeport’s revenue and margins. Industrial metals rise as U.S. launches diplomatic push to end Middle East war
• Positive Sentiment: Brokerage coverage remains constructive—FCX has been given an average rating of “Moderate Buy,” supporting investor interest and buy-side flows. Freeport-McMoRan Given Average Rating of “Moderate Buy”
• Positive Sentiment: Analyst/commentary pieces frame recent pullbacks as buying opportunities (e.g., “The Drawdown Is A Gift”), which can encourage accumulation from value-oriented investors. The Drawdown Is A Gift
• Neutral Sentiment: Market wrap pieces note FCX has outperformed the broader market in recent sessions; useful for momentum context but largely descriptive rather than catalyst-driven. Freeport-McMoRan Outperforms Broader Market
• Negative Sentiment: Ongoing geopolitical risk (Iran/Middle East war) has previously pressured FCX and is cited as a reason the stock is viewed as a “fallen angel” by some—re-escalation could quickly reverse recent gains. FCX among ‘fallen angel’ stocks impacted by Iran war

Insider Activity

In other news, EVP Douglas N. Currault II sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $64.52, for a total transaction of $4,839,000.00. Following the transaction, the executive vice president directly owned 219,181 shares of the company’s stock, valued at $14,141,558.12. This represents a 25.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard C. Adkerson sold 152,960 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $64.65, for a total value of $9,888,864.00. Following the completion of the transaction, the chairman owned 3,356,159 shares in the company, valued at approximately $216,975,679.35. This represents a 4.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 565,145 shares of company stock valued at $35,839,918. Corporate insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Steigerwald Gordon & Koch Inc. bought a new position in Freeport-McMoRan in the 3rd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Freeport-McMoRan during the 4th quarter worth approximately $25,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Freeport-McMoRan in the second quarter worth approximately $28,000. Salomon & Ludwin LLC lifted its holdings in shares of Freeport-McMoRan by 1,962.9% in the third quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 687 shares in the last quarter. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Freeport-McMoRan in the fourth quarter valued at approximately $29,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

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.