Freeport-McMoRan faces lower earnings estimates and shifting investor stakes

Freeport-McMoRan Inc. is experiencing shifts in both institutional investment and earnings projections. Recent SEC filings show that NewEdge Advisors LLC reduced its stake in the natural resource company by 14.7% during the first quarter, leaving them with 292,559 shares valued at approximately $17.19 million.

Conversely, several other institutional investors have increased their positions, including Fifth Third Bancorp and Franklin Resources Inc.

On the analyst front, Zacks Research has lowered its Q3 2026 earnings estimates for the company to $0.63 per share, down from a previous estimate of $0.68. This follows a recent quarterly report where Freeport-McMoRan reported earnings per share of $0.74, surpassing consensus estimates. While some analysts, such as those from BNP Paribas Exane and Barclays, have increased their price targets, others like Raymond James Financial have lowered theirs.