HB Wealth Management LLC Increases Stock Holdings in Freeport-McMoRan Inc. $FCX

08 Sep 2026, 08:17 by Kim Johansen · The Markets Daily

HB Wealth Management LLC increased its position in Freeport-McMoRan Inc. (NYSE:FCX – Free Report) by 12.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,546 shares of the natural resource company’s stock after acquiring an additional 8,296 shares during the quarter. HB Wealth Management LLC’s holdings in Freeport-McMoRan were worth $4,877,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FCX. Fisher Asset Management LLC lifted its stake in Freeport-McMoRan by 1.0% in the 4th quarter. Fisher Asset Management LLC now owns 63,880,757 shares of the natural resource company’s stock worth $3,244,504,000 after purchasing an additional 622,343 shares in the last quarter. State Street Corp grew its position in shares of Freeport-McMoRan by 0.6% during the 4th quarter. State Street Corp now owns 62,873,136 shares of the natural resource company’s stock valued at $3,193,327,000 after purchasing an additional 395,226 shares in the last quarter. Bank of America Corp DE grew its position in shares of Freeport-McMoRan by 20.0% during the 1st quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company’s stock valued at $2,489,069,000 after purchasing an additional 7,044,775 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Freeport-McMoRan by 31.2% in the fourth quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company’s stock worth $1,897,202,000 after purchasing an additional 8,891,743 shares during the period. Finally, Morgan Stanley raised its position in shares of Freeport-McMoRan by 10.1% in the fourth quarter. Morgan Stanley now owns 34,262,241 shares of the natural resource company’s stock worth $1,740,179,000 after buying an additional 3,130,046 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 $72.66 on Tuesday. The stock’s 50-day moving average is $66.62 and its 200 day moving average is $64.46. The stock has a market cap of $104.34 billion, a price-to-earnings ratio of 35.79, a P/E/G ratio of 0.71 and a beta of 1.41. Freeport-McMoRan Inc. has a 1-year low of $35.15 and a 1-year high of $80.24. The company has a current ratio of 2.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25.

Freeport-McMoRan (NYSE:FCX – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The natural resource company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.12. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. The business had revenue of $7.03 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period last year, the business earned $0.54 earnings per share. The business’s quarterly revenue was down 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 2.81 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th were paid a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.4%. Freeport-McMoRan’s dividend payout ratio is 14.78%.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, Director Lydia H. Kennard sold 3,798 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $79.11, for a total transaction of $300,459.78. Following the completion of the sale, the director directly owned 122,702 shares in the company, valued at $9,706,955.22. This represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Stephen T. Higgins sold 14,277 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $69.50, for a total transaction of $992,251.50. Following the sale, the chief accounting officer owned 54,618 shares of the company’s stock, valued at approximately $3,795,951. The trade was a 20.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 110,398 shares of company stock worth $8,387,271 in the last quarter. 0.73% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FCX. JPMorgan Chase & Co. lifted their price objective on Freeport-McMoRan from $73.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Weiss Ratings raised Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 31st. Morgan Stanley lifted their price target on Freeport-McMoRan from $66.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. UBS Group upped their price objective on shares of Freeport-McMoRan from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Finally, Bank of America raised their target price on shares of Freeport-McMoRan from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $70.27.

Check Out Our Latest Analysis on FCX

About Freeport-McMoRan

(Free Report)

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.