Institutional investors increase stakes in Freeport-McMoRan amid strong copper demand

J. Safra Sarasin Holding AG raised its Freeport‑McMoRan (FCX) stake by 69.9% in the first quarter, holding 213,037 shares worth about $12.5 million. Seneca House Advisors added a new position of 17,993 shares valued at roughly $1.06 million. Together with other funds, institutional investors now own about 80.8% of the copper miner’s outstanding stock.

Analysts have responded to robust copper demand driven by electrification, grid expansion and data‑center growth. Bank of America lifted its price target to $80, JPMorgan to $77, and Scotiabank raised its FY2026 EPS estimate and set a $77 target, reinforcing a bullish view on FCX. At the same time, concerns persist over output pressure at the Grasberg mine, which could limit short‑term production.

The increased institutional ownership and upgraded earnings expectations suggest continued investor confidence in Freeport‑McMoRan’s role as a leading copper producer, despite operational challenges at its flagship Indonesian mine.