Rep. Julie Johnson Buys Freeport-McMoRan Inc. (NYSE:FCX) Shares

Representative Julie Johnson (D-Texas) recently bought shares of Freeport-McMoRan Inc. (NYSE:FCX). In a filing disclosed on March 12th, the Representative disclosed that they had bought between $1,001 and $15,000 in Freeport-McMoRan stock on February 12th. The trade occurred in the Representative’s “MERRILL LYNCH TAX EFFICIENT CORE” account.

Representative Julie Johnson also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Norfolk Southern (NYSE:NSC) on 2/25/2025.
• Purchased $1,001 – $15,000 in shares of Union Pacific (NYSE:UNP) on 2/25/2025.
• Purchased $1,001 – $15,000 in shares of Bank of New York Mellon (NYSE:BK) on 2/24/2025.
• Sold $1,001 – $15,000 in shares of BlackRock (NYSE:BLK) on 2/24/2025.
• Sold $1,001 – $15,000 in shares of The PNC Financial Services Group (NYSE:PNC) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of Progressive (NYSE:PGR) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of Capital One Financial (NYSE:COF) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of Capital One Financial (NYSE:COF) on 2/14/2025.
• Purchased $1,001 – $15,000 in shares of Progressive (NYSE:PGR) on 2/14/2025.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $37.57 on Friday. The company has a market cap of $53.98 billion, a price-to-earnings ratio of 29.12, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 52 week low of $33.98 and a 52 week high of $55.24. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average of $37.92 and a 200-day moving average of $42.18.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. On average, equities analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FCX shares. BMO Capital Markets cut their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. cut their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. StockNews.com upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their target price for the stock from $40.00 to $48.00 in a report on Thursday, February 27th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

Hedge Funds Weigh In On Freeport-McMoRan

Several large investors have recently bought and sold shares of FCX. PKO Investment Management Joint Stock Co bought a new stake in shares of Freeport-McMoRan during the 4th quarter worth $1,908,000. Palogic Value Management L.P. raised its stake in shares of Freeport-McMoRan by 1.5% during the 4th quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company’s stock worth $772,000 after purchasing an additional 292 shares during the period. General Pension Society PZU Joint Stock Co raised its stake in shares of Freeport-McMoRan by 7.7% during the 4th quarter. General Pension Society PZU Joint Stock Co now owns 938,904 shares of the natural resource company’s stock worth $35,753,000 after purchasing an additional 66,800 shares during the period. Comprehensive Money Management Services LLC bought a new stake in shares of Freeport-McMoRan during the 4th quarter worth $308,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Freeport-McMoRan during the 4th quarter worth $32,029,000. 80.77% of the stock is currently owned by institutional investors.

About Representative Johnson

Julie Johnson (Democratic Party) is a member of the U.S. House, representing Texas’ 32nd Congressional District. She assumed office on January 3, 2025. Her current term ends on January 3, 2027.

Johnson (Democratic Party) ran for election to the U.S. House to represent Texas’ 32nd Congressional District. She won in the general election on November 5, 2024.

Julie Johnson earned a B.A. in history and government from the University of Texas at Austin in 1987 and a J.D. from the University of Houston Law Center in 1991. Johnson’s career experience includes working as an attorney.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.