Rep. Robert Bresnahan, Jr. Sells Freeport-McMoRan Inc. (NYSE:FCX) Shares

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Freeport-McMoRan Inc. (NYSE:FCX). In a filing disclosed on March 27th, the Representative disclosed that they had sold between $1,001 and $15,000 in Freeport-McMoRan stock on February 25th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Intuit (NASDAQ:INTU) on 3/7/2025.
• Sold $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 3/6/2025.
• Purchased $1,001 – $15,000 in shares of SEA (NYSE:SE) on 3/5/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Twilio (NYSE:TWLO) on 3/4/2025.
• Sold $15,001 – $50,000 in shares of Alibaba Group (NYSE:BABA) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Zoom Video Communications (NASDAQ:ZM) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 3/3/2025.
• Purchased $1,001 – $15,000 in shares of Snowflake (NYSE:SNOW) on 3/3/2025.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $38.36 on Friday. The firm has a market cap of $55.13 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 0.87 and a beta of 1.87. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 1-year low of $33.98 and a 1-year high of $55.24. The company has a 50 day moving average of $38.14 and a 200-day moving average of $41.97.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. On average, equities analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.56%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 23.26%.

Hedge Funds Weigh In On Freeport-McMoRan

Several hedge funds and other institutional investors have recently made changes to their positions in FCX. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Freeport-McMoRan by 240.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,000 shares of the natural resource company’s stock worth $3,994,000 after purchasing an additional 56,475 shares during the last quarter. Great Valley Advisor Group Inc. bought a new position in Freeport-McMoRan during the third quarter worth about $282,000. Cerity Partners LLC increased its position in Freeport-McMoRan by 66.1% during the third quarter. Cerity Partners LLC now owns 176,102 shares of the natural resource company’s stock worth $8,791,000 after buying an additional 70,097 shares during the last quarter. Larson Financial Group LLC raised its stake in Freeport-McMoRan by 14.6% in the third quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock valued at $112,000 after buying an additional 287 shares during the period. Finally, Summit Trail Advisors LLC lifted its position in shares of Freeport-McMoRan by 24.7% in the third quarter. Summit Trail Advisors LLC now owns 11,254 shares of the natural resource company’s stock valued at $562,000 after buying an additional 2,226 shares during the last quarter. 80.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FCX has been the topic of several research reports. StockNews.com downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, March 20th. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Thursday, March 6th. BMO Capital Markets dropped their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.04.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

About Freeport-McMoRan

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.