Freeport-McMoRan stock is trading -5.27% below its average target price of $52.95 after marking a 2.8% 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 $41.0 to $60.0 per share.
The stock has a very low short interest at 1.6%, and a short ratio of 1.38. The company's insiders own 0.63% 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 82.3% of Freeport-McMoRan's shares being owned by this investor type.
Institutions Invested in Freeport-McMoRan
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-12-31 | Vanguard Group Inc | 8% | 119,487,609 | $5,993,498,449 |
| 2023-12-31 | Blackrock Inc. | 8% | 110,693,592 | $5,552,390,557 |
| 2023-12-31 | FMR, LLC | 6% | 80,082,316 | $4,016,928,958 |
| 2023-12-31 | State Street Corporation | 4% | 62,903,247 | $3,155,226,859 |
| 2023-12-31 | Capital Research Global Investors | 4% | 59,752,726 | $2,997,196,727 |
| 2023-12-31 | Fisher Asset Management, LLC | 4% | 55,656,836 | $2,791,746,885 |
| 2023-12-31 | Price (T.Rowe) Associates Inc | 2% | 34,490,074 | $1,730,022,106 |
| 2023-12-31 | Geode Capital Management, LLC | 2% | 26,923,943 | $1,350,504,976 |
| 2023-12-31 | JP Morgan Chase & Company | 2% | 21,783,742 | $1,092,672,495 |
| 2024-03-31 | Bank Of New York Mellon Corporation | 1% | 21,157,118 | $1,061,241,035 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Freeport-McMoRan.
