Freeport-McMoRan (FCX), considered a top commodity stock by hedge funds, has seen considerable changes in holdings amongst its major institutional investors. Edgestream Partners, Oak Grove Capital, and DJE Kapital have raised their positions, while Inceptionr and Souders Financial Advisors have reduced stakes. Significant new positions taken by Ashton Thomas Private Wealth, Ring Mountain Capital, Aigen Investment Management, and Levin Capital Strategies suggest substantial confidence. Despite some stocks being sold off by firms like Keybank National Association and Verus Capital Partners, others are increasing holdings. The Natural Resources pick saw a 9.3% surge, increasing optimism for further gains. However, there have also been concerns raised due to a challenging 2024, with expectedly disappointing Q4 earnings as copper sales fall.
Deutsche Bank upgraded FCX to Buy, while Jefferies reiterated their Buy rating. Unusually large options trading and major investments indicate the company has drawn investor attention. As per analysts, FCX is trending despite suffering a larger market drop. However, concerns remain about the Grasberg mine uncertainty and the company being considered overvalued post-earnings. Despite this, UBS lists the company among stocks for AI, growth, and low rate era.
Freeport-Mcmoran FCX News Analytics from Fri, 18 Oct 2024 07:00:00 GMT to Sat, 08 Mar 2025 12:00:48 GMT -
Rating 2
- Innovation 1
- Information 7
- Rumor -7
