Freeport-McMoRan stock is trading -7.83% below its average target price of $45.76 after marking a 3.9% change during today's afternoon session. Analysts are giving the large-cap Industrial Metals & Mining company an average rating of buy and target prices ranging from $29.0 to $57.0 per share.
The stock has a very low short interest at 1.2%, and a short ratio of 1.36. The company's insiders own 0.56% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 80.6% of Freeport-McMoRan's shares being owned by this investor type.
Institutions Invested in Freeport-McMoRan
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-03-31 | Vanguard Group Inc | 8% | 118,696,795 | $5,006,037,238 |
| 2023-03-31 | Blackrock Inc. | 8% | 109,368,902 | $4,612,633,358 |
| 2023-03-31 | FMR, LLC | 7% | 105,191,820 | $4,436,464,928 |
| 2023-03-31 | State Street Corporation | 4% | 62,355,581 | $2,629,846,581 |
| 2023-03-31 | Capital Research Global Investors | 4% | 55,864,533 | $2,356,086,636 |
| 2023-03-31 | Fisher Asset Management, LLC | 4% | 53,946,760 | $2,275,204,561 |
| 2023-03-31 | JP Morgan Chase & Company | 3% | 46,164,978 | $1,947,007,911 |
| 2023-03-31 | Geode Capital Management, LLC | 2% | 25,338,465 | $1,068,649,742 |
| 2023-03-31 | Bank Of New York Mellon Corporation | 1% | 20,085,131 | $847,090,384 |
| 2023-03-31 | Bank of America Corporation | 1% | 19,866,267 | $837,859,795 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Freeport-McMoRan.
