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
|2023-06-30||Vanguard Group Inc||8%||119,063,497||$4,616,091,833|
|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|