Freeport-McMoRan shares rose 1.7% this afternoon to a price of $51.52. The stock is still trading within range of its average target price of $51.63, and over the last 52 weeks, it has recorded a 32.2% performance. Analysts have given the Large-Cap Industrial Metals & Mining stock target prices ranging from $41.45 to $59.88 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 1.8%. The stock's short ratio is 1.75. 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 | $6,218,383,787 |
| 2024-03-31 | Blackrock Inc. | 8% | 108,904,790 | $5,610,774,830 |
| 2024-03-31 | Capital Research Global Investors | 5% | 72,896,288 | $3,755,616,791 |
| 2024-03-31 | FMR, LLC | 5% | 65,415,451 | $3,370,204,065 |
| 2024-03-31 | State Street Corporation | 4% | 62,946,951 | $3,243,026,944 |
| 2024-03-31 | Fisher Asset Management, LLC | 4% | 56,629,948 | $2,917,574,946 |
| 2024-03-31 | Price (T.Rowe) Associates Inc | 3% | 36,882,874 | $1,900,205,685 |
| 2024-03-31 | Geode Capital Management, LLC | 2% | 27,806,975 | $1,432,615,364 |
| 2024-03-31 | Franklin Resources, Inc. | 2% | 22,552,874 | $1,161,924,078 |
| 2024-03-31 | Bank Of New York Mellon Corporation | 1% | 21,157,118 | $1,090,014,729 |
