Freeport-McMoRan stock is trading -8.73% below its average target price of $45.53 after dropping -1.0% 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 $37.0 to $57.0 per share.
The stock has a very low short interest at 1.2%, and a short ratio of 1.78. 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 80.2% of Freeport-McMoRan's shares being owned by this investor type.
Institutions Invested in Freeport-McMoRan
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-09-30 | Vanguard Group Inc | 8% | 119,369,409 | $4,960,395,827 |
| 2023-09-30 | Blackrock Inc. | 8% | 110,822,337 | $4,605,222,247 |
| 2023-09-30 | FMR, LLC | 6% | 85,307,612 | $3,544,957,842 |
| 2023-09-30 | State Street Corporation | 4% | 61,272,642 | $2,546,184,657 |
| 2023-09-30 | Capital Research Global Investors | 4% | 59,333,123 | $2,465,587,944 |
| 2023-09-30 | Fisher Asset Management, LLC | 4% | 54,680,244 | $2,272,237,556 |
| 2023-09-30 | Price (T.Rowe) Associates Inc | 2% | 30,024,387 | $1,247,663,410 |
| 2023-09-30 | Geode Capital Management, LLC | 2% | 26,442,516 | $1,098,818,760 |
| 2023-09-30 | JP Morgan Chase & Company | 2% | 24,363,785 | $1,012,437,093 |
| 2023-09-30 | Bank Of New York Mellon Corporation | 2% | 21,605,095 | $897,799,729 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Freeport-McMoRan.
