Deutsche Bank Upgrades Freeport-McMoRan to Buy Rating

Fintel reports that on March 6, 2025, Deutsche Bank raised its outlook for Freeport-McMoRan (SNSE:FCX) from Hold to Buy.

Fund Sentiment Overview

Currently, 2,417 funds and institutions hold positions in Freeport-McMoRan, a decrease of 83 owners or 3.32% from the previous quarter. The average portfolio weight for all funds invested in FCX is 0.34%, reflecting a significant increase of 1,574.14%. Over the past three months, total institutional shares owned rose by 2.59% to reach 1,430,391K shares.

Recent Activity of Major Shareholders

Capital Research Global Investors possesses 77,313K shares, accounting for 5.38% ownership of the company. Previously, the firm reported ownership of 83,406K shares, indicating a decrease of 7.88%. This firm reduced its portfolio allocation in FCX by 30.05% last quarter.

Fisher Asset Management owns 59,365K shares, representing 4.13% of the company. Its last filing noted a total of 59,409K shares, showing a decrease of 0.08%. The firm reduced its allocation in FCX by 25.99% over the previous quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares maintains 45,039K shares for a 3.13% ownership. In its previous report, the firm held 45,513K shares, marking a decrease of 1.05%, alongside a portfolio allocation reduction of 25.61% in FCX.

VFINX – Vanguard 500 Index Fund Investor Shares has 38,896K shares with 2.71% ownership. Previously, the firm reported owning 37,631K shares, indicating an increase of 3.25%. However, its portfolio allocation also dropped by 25.41% last quarter.

Price T Rowe Associates holds 31,886K shares, representing 2.22% ownership. Its previous report showed an ownership of 26,150K shares, an increase of 17.99%. Nonetheless, this firm also reduced its FCX portfolio allocation by 6.87% last quarter.

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This story originally appeared on Fintel.

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