This afternoon we watched Freeport-McMoRan rise 1.1% to a price of $38.77 per share. The large-cap Industrial Metals & Mining company is now trading -15.2% below its average target price of $45.72. Analysts have set target prices ranging from $29.0 to $57.0 per share for Freeport-McMoRan, and have given the stock an average rating of buy.
Freeport-McMoRan's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 1.0%. The stock's short ratio is 1.27. The company's insiders own 0.57% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.
Another number to watch is the company's rate of institutional share ownership, which now stands at 81.0%. In conclusion, we believe there is mixed market sentiment regarding Freeport-McMoRan.
Institutions Invested in Freeport-McMoRan
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-06-30 | Vanguard Group Inc | 8% | 119,063,497 | $4,616,091,833 |
| 2023-06-30 | Blackrock Inc. | 8% | 107,532,960 | $4,169,052,908 |
| 2023-06-30 | FMR, LLC | 6% | 91,319,012 | $3,540,438,137 |
| 2023-06-30 | State Street Corporation | 4% | 63,242,717 | $2,451,920,167 |
| 2023-06-30 | Capital Research Global Investors | 4% | 59,495,524 | $2,306,641,492 |
| 2023-06-30 | Fisher Asset Management, LLC | 4% | 54,842,377 | $2,126,238,981 |
| 2023-06-30 | JP Morgan Chase & Company | 2% | 32,226,360 | $1,249,415,991 |
| 2023-06-30 | Geode Capital Management, LLC | 2% | 25,980,753 | $1,007,273,805 |
| 2023-06-30 | Bank Of New York Mellon Corporation | 2% | 21,659,892 | $839,754,022 |
| 2023-06-30 | Morgan Stanley | 1% | 17,504,649 | $678,655,249 |
