Eagle Strategies LLC Sells 24,188 Shares of Freeport-McMoRan Inc. $FCX

Eagle Strategies LLC reduced its stake in Freeport-McMoRan Inc. (NYSE:FCX[1] - Free Report[2]) by 26.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,830 shares of the natural resource company's stock after selling 24,188 shares during the quarter. Eagle Strategies LLC's holdings in Freeport-McMoRan were worth £2,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Freeport-McMoRan during the 2nd quarter valued at £28,000. Salomon & Ludwin LLC increased its stake in 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 acquiring an additional 687 shares during the last quarter. Beacon Capital Management LLC increased its stake in Freeport-McMoRan by 59.6% in 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 last quarter.

Proffitt & Goodson Inc. raised its position in Freeport-McMoRan by 39.8% during the third quarter. Proffitt & Goodson Inc. now owns 977 shares of the natural resource company's stock valued at £38,000 after purchasing an additional 278 shares in the last quarter. Finally, MTM Investment Management LLC purchased a new stake in Freeport-McMoRan during the second quarter valued at about £43,000.

Hedge funds and other institutional investors own 80.77% of the company's stock.

Trending Headlines about Freeport-McMoRan

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

• Positive Sentiment: Raymond James analyst bullish call -- A Raymond James note reported by AmericanBankingNews says FCX's stock price is expected to rise, providing a near-term fundamental/consensus positive catalyst for the share move today. Article Title[3]
• Neutral Sentiment: Market/technical update -- AmericanBankingNews ran a piece on recent share weakness and outlook (shares had traded down in a prior session), which may reflect short-term volatility and differing analyst views rather than a change in underlying commodity fundamentals. Article Title[4]
• Negative Sentiment: Multiple securities-class action notices and lead-plaintiff deadlines -- Several law firms (Rosen Law Firm, Robbins Geller Rudman & Dowd, Faruqi & Faruqi, Levi & Korsinsky, Schall Law, Howard G. Smith, etc.) have issued notices seeking lead plaintiffs in a class action alleging securities claims covering Feb.

  15, 2022-Sept.

  24, 2025; the lead-plaintiff filing deadline is Jan.

  12, 2026. This cluster of litigation notices increases legal and reputational risk and could lead to future expense or settlement exposure that would be negative for FCX's valuation. Article Title[5]

Insider Activity

In related news, CAO Stephen T.

Higgins sold 28,423 shares of the business's stock in a transaction dated 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 transaction, the chief accounting officer owned 105,294 shares in the company, valued at £5,053,059.06.

The trade was a 21.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link[6]. Also, CAO Ellie L.

Mikes sold 9,572 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of £47.66, for a total value of £456,201.52. Following the completion of the sale, 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 SEC filing[7] for this sale provides additional information. Corporate insiders own 0.75% of the company's stock.

Analyst Upgrades and Downgrades

FCX has been the subject of a number of research reports.

BMO Capital Markets upped their price objective on Freeport-McMoRan from £47.00 to £55.00 and gave the stock an "outperform" rating in a report on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Freeport-McMoRan in a research note on Wednesday, November 26th. BNP Paribas Exane decreased their price target on shares of Freeport-McMoRan from £58.00 to £56.00 and set an "outperform" rating on the stock in a research note on Friday, December 5th.

Wells Fargo & Company boosted their price objective on shares of Freeport-McMoRan from £47.00 to £55.00 and gave the stock an "overweight" rating in a report on Tuesday, December 23rd. Finally, Scotiabank raised shares of Freeport-McMoRan from a "sector perform" rating to a "sector outperform" rating and reduced their target price for the company from £51.00 to £47.00 in a report on Wednesday, November 19th. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company.

Based on data from MarketBeat, Freeport-McMoRan has a consensus rating of "Buy" and an average target price of £49.87. Read Our Latest Research Report on Freeport-McMoRan[8]

Freeport-McMoRan Stock Performance

Shares of FCX stock[9] opened at £51.94 on Friday. The company has a market capitalization of £74.58 billion, a P/E ratio of 36.57, a PEG ratio of 0.87 and a beta of 1.45.

Freeport-McMoRan Inc. has a fifty-two week low of £27.66 and a fifty-two week high of £53.76. 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 has a 50 day moving average price of £44.55 and a two-hundred day moving average price of £43.46.

Freeport-McMoRan (NYSE:FCX[10] - Get Free Report[11]) last issued its earnings results on Thursday, October 23rd. The natural resource company reported £0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of £0.41 by £0.09. Freeport-McMoRan had a net margin of 7.97% and a return on equity of 7.84%.

The firm had revenue of £6.97 billion for the quarter, compared to analysts' expectations of £6.74 billion. During the same quarter last year, the business earned £0.38 earnings per share. The business's revenue was up 2.7% on a year-over-year basis.

Analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th will be given a £0.075 dividend. The ex-dividend date is Thursday, January 15th.

This represents a £0.30 dividend on an annualized basis and a dividend yield of 0.6%. Freeport-McMoRan's payout ratio is presently 21.13%.

Freeport-McMoRan 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.

Featured Stories

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider Freeport-McMoRan, you'll want to hear this.

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References

1. ^ NYSE:FCX (www.marketbeat.com)
2. ^ Free Report (www.marketbeat.com)
3. ^ Article Title (www.americanbankingnews.com)
4. ^ Article Title (www.americanbankingnews.com)
5. ^ Article Title (www.globenewswire.com)
6. ^ this link (www.sec.gov)
7. ^ SEC filing (www.sec.gov)
8. ^ Read Our Latest Research Report on Freeport-McMoRan (www.marketbeat.com)
9. ^ FCX stock (www.marketbeat.com)
10. ^ NYSE:FCX (www.marketbeat.com)
11. ^ Get Free Report (www.marketbeat.com)
12. ^ Free Report (www.marketbeat.com)
13. ^ Visit HoldingsChannel.com (www.holdingschannel.com)
14. ^ NYSE:FCX (www.marketbeat.com)
15. ^ Free Report (www.marketbeat.com)
16. ^ five stocks (www.marketbeat.com)
17. ^ View The Five Stocks Here (www.marketbeat.com)
18. ^ Get This Free Report (marketbeat.com)