Freeport-McMoRan surged to $53.63 per share this morning, but it remains 8.52% above its mean target price of $49.42. There may still be room for more downwards movement — even after today's 4.1% drop. Analysts are giving the Large-Cap Industrial Metals & Mining stock on average rating of buy, with target prices ranging from $41.43 to $55.24 per share.
Freeport-McMoRan's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 1.6%. The stock's short ratio is 1.4. The company's insiders own 0.63% 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 83.8%. In conclusion, we believe there is mixed market sentiment regarding Freeport-McMoRan.
Institutions Invested in Freeport-McMoRan
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-03-31 | Vanguard Group Inc | 8% | 120,698,442 | $6,473,057,573 |
| 2024-03-31 | Blackrock Inc. | 8% | 108,904,790 | $5,840,564,004 |
| 2024-03-31 | Capital Research Global Investors | 5% | 72,896,288 | $3,909,428,003 |
| 2024-03-31 | FMR, LLC | 5% | 65,415,451 | $3,508,230,707 |
| 2024-03-31 | State Street Corporation | 4% | 62,946,951 | $3,375,845,049 |
| 2024-03-31 | Fisher Asset Management, LLC | 4% | 56,629,948 | $3,037,064,171 |
| 2024-03-31 | Price (T.Rowe) Associates Inc | 3% | 36,882,874 | $1,978,028,572 |
| 2024-03-31 | Geode Capital Management, LLC | 2% | 27,806,975 | $1,491,288,098 |
| 2024-03-31 | Franklin Resources, Inc. | 2% | 22,552,874 | $1,209,510,656 |
| 2024-03-31 | Bank Of New York Mellon Corporation | 1% | 21,157,118 | $1,134,656,260 |
