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Czech National Bank increased its stake in Freeport-McMoRan by 6.4%, owning 311,555 shares valued at $11.86 million after acquiring 18,852 additional shares. Analysts have mixed ratings on the stock, with a consensus "Moderate Buy" and a target price of $52.04, indicating potential upside. The company, engaged in mining across various regions, reported a net margin of 7.42% and a return on equity of 7.50%.
Freeport-McMoRan Inc. holds a "Moderate Buy" consensus rating with a price target of $51.75. The company, engaged in mining various metals, reported a quarterly EPS of $0.31, missing estimates, while institutional investors own 80.77% of its stock. Recent analyst ratings show mixed adjustments, with some lowering price targets and others upgrading their ratings.
Geode Capital Management LLC and Franklin Resources Inc. increased their stakes in Freeport-McMoRan by 2.4% and 8.0%, respectively, during the fourth quarter, with institutional investors owning 80.77% of the company. Deutsche Bank upgraded Freeport-McMoRan to a buy rating, setting a price target of $47.00, while analysts have mixed ratings, with a consensus price target of $51.75. The company reported earnings of $0.31 per share, missing estimates, and has a market capitalization of $53.13 billion.
Freeport-McMoRan Inc. focuses on the exploration and operation of copper and gold mines, primarily in the U.S., Peru, Chile, Indonesia, and the Congo. In 2023, net sales were dominated by copper (74.6%), followed by gold (14.5%) and molybdenum (8.4%), with significant sales in the U.S. (31.8%) and Switzerland (17.4%).
Peru’s Congress has voted to extend a controversial permit, known as Reinfo, for informal mining operations by six months. While the permit faces opposition from major business groups, it is backed by hundreds of thousands of informal miners. Peru remains a key hub for significant copper mining activities, involving major companies like Freeport McMoran and Southern Copper.
Cramer highlighted Amphenol as a "terrific stock," while expressing skepticism about Freeport-McMoRan and its copper stocks, stating he doesn"t want to own them. He also questioned the profitability of TransMedics, and while he likes Devon Energy, he believes Coterra is superior.
The US Securities and Exchange Commission is investigating Freeport-McMoRan Inc. for potentially failing to disclose earthquake risks associated with its $3.7 billion copper smelter complex in Indonesia. This inquiry was prompted by a whistleblower complaint from a former contractor, who claimed the facility could collapse into the sea during a significant tremor. For more details, visit [Bloomberg](https://www.bloomberg.com).
Freeport-McMoRan Inc.
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Czech National Bank increases stake in Freeport-McMoRan amid analyst upgrades
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13:12 21.03.2025
freeport-mcmoran receives moderate buy rating with price target of 51.75
11:15 09.03.2025
geode and franklin increase stakes in freeport-mcmoran amid analyst upgrades
07:56 09.03.2025
freeport-mcmoran maintains strong market position in copper and gold mining
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Peru Congress extends informal mining permits amid ongoing controversy
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00:55 20.11.2024
sec investigates freeport over earthquake risks at indonesia copper plant
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