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

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 traded down $1.62 on Friday, hitting $38.36. 20,221,875 shares of the company traded hands, compared to its average volume of 13,413,076. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average price is $38.14 and its 200-day moving average price is $41.96. The company has a market capitalization of $55.13 billion, a price-to-earnings ratio of 29.74, a P/E/G ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 52-week low of $33.98 and a 52-week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Equities analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a $0.15 dividend. The ex-dividend date 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 is currently 23.26%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Freeport-McMoRan by 240.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,000 shares of the natural resource company’s stock valued at $3,994,000 after buying an additional 56,475 shares during the last quarter. Great Valley Advisor Group Inc. bought a new stake in shares of Freeport-McMoRan during the third quarter worth $282,000. Cerity Partners LLC increased its stake in Freeport-McMoRan by 66.1% in the 3rd 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 period. Larson Financial Group LLC increased its position in shares of Freeport-McMoRan by 14.6% during the third quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock worth $112,000 after acquiring an additional 287 shares during the period. Finally, Summit Trail Advisors LLC lifted its holdings in shares of Freeport-McMoRan by 24.7% in the 3rd quarter. Summit Trail Advisors LLC now owns 11,254 shares of the natural resource company’s stock worth $562,000 after buying an additional 2,226 shares during the period. Institutional investors own 80.77% of the company’s stock.

Analysts Set New Price Targets

FCX has been the subject of several recent analyst reports. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their target price for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. BMO Capital Markets lowered their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. raised shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $48.00 to $52.00 in a report on Thursday, March 20th. Finally, Scotiabank dropped their target price on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.

Freeport-McMoRan Company Profile

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.