Freeport-McMoRan stock is trading -26.62% below its average target price of $54.51 after dropping -3.4% during today's morning session. Analysts are giving the Large-Cap Industrial Metals & Mining company an average rating of buy and target prices ranging from $43.08 to $63.0 per share.
The stock has a very low short interest at 1.5%, and a short ratio of 1.61. 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 85.1% of Freeport-McMoRan's shares being owned by this investor type.
Institutions Invested in Freeport-McMoRan
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-06-30 | Vanguard Group Inc | 8% | 121,494,613 | $4,859,784,520 |
| 2024-06-30 | Blackrock Inc. | 8% | 108,287,784 | $4,331,511,360 |
| 2024-06-30 | Capital Research Global Investors | 5% | 76,344,157 | $3,053,766,280 |
| 2024-06-30 | FMR, LLC | 5% | 64,779,202 | $2,591,168,080 |
| 2024-06-30 | State Street Corporation | 4% | 62,262,646 | $2,490,505,840 |
| 2024-06-30 | Fisher Asset Management, LLC | 4% | 58,016,901 | $2,320,676,040 |
| 2024-06-30 | Bank of America Corporation | 2% | 35,059,145 | $1,402,365,800 |
| 2024-06-30 | Price (T.Rowe) Associates Inc | 2% | 32,059,109 | $1,282,364,360 |
| 2024-06-30 | Geode Capital Management, LLC | 2% | 28,361,959 | $1,134,478,360 |
| 2024-06-30 | Franklin Resources, Inc. | 2% | 24,944,107 | $997,764,280 |
Besides an analyst consensus of strong upside potential, other market factors point to there being positive market sentiment on Freeport-McMoRan.
