Freeport-McMoRan shares fell -5.5% this afternoon to a price of $49.17. The stock is still trading within range of its average target price of $50.07, and over the last 52 weeks, it has recorded a 37.9% performance. Analysts have given the Large-Cap Industrial Metals & Mining stock target prices ranging from $41.46 to $55.28 dollars per share, with 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 1.6%. 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 | $5,934,742,172 |
| 2024-03-31 | Blackrock Inc. | 8% | 108,904,790 | $5,354,848,324 |
| 2024-03-31 | Capital Research Global Investors | 5% | 72,896,288 | $3,584,310,347 |
| 2024-03-31 | FMR, LLC | 5% | 65,415,451 | $3,216,477,605 |
| 2024-03-31 | State Street Corporation | 4% | 62,946,951 | $3,095,101,465 |
| 2024-03-31 | Fisher Asset Management, LLC | 4% | 56,629,948 | $2,784,494,439 |
| 2024-03-31 | Price (T.Rowe) Associates Inc | 3% | 36,882,874 | $1,813,530,847 |
| 2024-03-31 | Geode Capital Management, LLC | 2% | 27,806,975 | $1,367,268,909 |
| 2024-03-31 | Franklin Resources, Inc. | 2% | 22,552,874 | $1,108,924,773 |
| 2024-03-31 | Bank Of New York Mellon Corporation | 1% | 21,157,118 | $1,040,295,453 |
