Ninety One UK Ltd Sells 879,341 Shares of Freeport-McMoRan Inc. $FCX

Ninety One UK Ltd lessened its position in shares of Freeport-McMoRan Inc. (NYSE:FCX [1] - Free Report [2]) by 16.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,567,256 shares of the natural resource company's stock after selling 879,341 shares during the quarter. Ninety One UK Ltd owned 0.32% of Freeport-McMoRan worth £179,128,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Freeport-McMoRan by 89.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 17,569,169 shares of the natural resource company's stock worth £761,623,000 after buying an additional 8,292,873 shares during the last quarter.

Amundi raised its position in Freeport-McMoRan by 28.1% in the first quarter. Amundi now owns 27,635,497 shares of the natural resource company's stock worth £1,046,280,000 after acquiring an additional 6,054,537 shares during the period. Crake Asset Management LLP boosted its stake in shares of Freeport-McMoRan by 2,140.8% during the 1st quarter.

Crake Asset Management LLP now owns 5,929,623 shares of the natural resource company's stock worth £224,496,000 after acquiring an additional 5,665,000 shares during the last quarter. Mizuho Markets Cayman LP purchased a new position in shares of Freeport-McMoRan during the 2nd quarter worth £159,147,000. Finally, Voya Investment Management LLC grew its position in shares of Freeport-McMoRan by 289.0% during the 3rd 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 during the period. Hedge funds and other institutional investors own 80.77% of the company's stock.

Insider Activity

In related news, CAO Stephen T. Higgins [3] 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 value of £1,364,019.77. Following the sale, the chief accounting officer directly owned 105,294 shares in the company, valued at approximately £5,053,059.06. The trade was a 21.26% decrease in their ownership of the stock.

The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink [4]. Also, CAO Ellie L. Mikes sold 9,572 shares of the stock in a transaction that occurred 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 approximately £1,847,349.26. The trade was a 19.80% decrease in their ownership of the stock.

The disclosure for this sale is available in the SEC filing [5]. Insiders own 0.75% of the company's stock.

Freeport-McMoRan Trading Down 1.2%

Shares of FCX [6] opened at £50.79 on Thursday. The firm has a market cap of £72.93 billion, a P/E ratio of 35.77, a price-to-earnings-growth ratio of 1.16 and a beta of 1.49.

The company has a debt-to-equity ratio of 0.29, a current ratio of 2.45 and a quick ratio of 1.19. Freeport-McMoRan Inc. has a 1 year low of £27.66 and a 1 year high of £53.76. The company has a 50 day simple moving average of £44.15 and a two-hundred day simple moving average of £43.32.

Freeport-McMoRan (NYSE:FCX [7] - Get Free Report [8]) last released its earnings results on Thursday, October 23rd. The natural resource company reported £0.50 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 the consensus estimate of £6.74 billion. During the same quarter in the previous year, the firm earned £0.38 earnings per share. The company's quarterly revenue was up 2.7% compared to the same quarter last year.

On average, equities analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Thursday, January 15th will be given a dividend of £0.075 per share. 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 dividend payout ratio (DPR) is presently 21.13%.

Key Headlines Impacting Freeport-McMoRan

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

Positive Sentiment: Raymond James raised its price target on FCX to £53 (from £49) and kept an Outperform rating, which signals analyst confidence in upside versus the current price and can attract buyers. Raymond James PT Raise [9]
Positive Sentiment: Broader metals strength -- reports that silver and other precious/industrial metals have surged (and copper is rallying) support Freeport's revenue outlook because FCX is a major copper producer; higher commodity prices boost near-term cash flow and margins. Silver & Metals Rally (247wallst) Precious/Industrial Metals Surge (MarketBeat)[10][11]
Negative Sentiment: Multiple law firms have filed or are soliciting lead-plaintiff claims in a securities class action covering Feb.

15, 2022-Sept.

24, 2025, with a January 12, 2026 lead-plaintiff deadline -- a concentration of notices that signals active litigation risk, potential legal costs, and near-term headline volatility. Representative notices from Rosen Law Firm, Glancy Prongay & Murray, The Gross Law Firm, Bronstein Gewirtz & Grossman, and Faruqi & Faruqi are circulating. Rosen Law Firm Notice Glancy Prongay & Murray Notice Gross Law Firm Notice [12][13][14]

Analysts Set New Price Targets

A number of brokerages recently commented on FCX.

BNP Paribas Exane decreased their target price on Freeport-McMoRan from £58.00 to £56.00 and set an "outperform" rating on the stock in a report on Friday, December 5th. Hsbc Global Res raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 16th. Johnson Rice cut their price objective on Freeport-McMoRan from £55.00 to £48.00 in a research note on Monday, September 29th.

JPMorgan Chase & Co. raised their target price on shares of Freeport-McMoRan from £50.00 to £58.00 and gave the stock an "overweight" rating in a research note on Friday, December 5th. Finally, Clarkson Capital raised shares of Freeport-McMoRan from a "neutral" rating to a "buy" rating and set a £46.00 price target on the stock in a report on Wednesday, November 19th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the stock.

Based on data from MarketBeat, Freeport-McMoRan currently has a consensus rating of "Buy" and a consensus price target of £49.87. View Our Latest Stock Report on Freeport-McMoRan [15]

Freeport-McMoRan Profile

(Free Report [16])

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.