Barings 13F: Cuts Freeport-McMoRan (FCX) Stake by $3.2M

Barings lowered its holdings in Freeport-McMoRan Inc. FCX by 38.4% during the third quarter, according to a Form 13F filing with the SEC on October 22, 2026.

FCX Freeport-McMoRan Inc.

$68.90 ▲ +33.92% year to date

1M 3M YTD

Daily close · Oct 21, 2026

What Changed in Barings's Freeport-McMoRan Inc. Position

The firm sold 45,552 shares of the mining company during the period. That left Barings with 73,074 shares. The remaining stake had a reported value of $5,115,180 at the end of the quarter.

Other Institutional Activity in Freeport-McMoRan Inc.

Other large investors adjusted their holdings around the same time. Fisher Asset Management, LLC grew its holdings by 1,835,441 shares, ending with 66,922,014 shares worth about $4,322,492,639. Franklin Resources, Inc. lifted its position by 2,062,602 shares, finishing with 37,381,125 shares valued at roughly $2,414,446,726.

Freeport-McMoRan Inc. Stock Down 3.7%

Freeport-McMoRan Inc. recently traded around $66.36 as of October 22, 2026. The shares sit about 7.8% below their 50-day moving average of $72.01 and roughly 2.2% above their 200-day moving average of $64.93. The stock trades 17.3% below its 52-week high of $80.24 and up 72.2% from its 52-week low of $38.54.

Recent Earnings

The company generated $25,867,999,232 in trailing twelve-month revenue alongside earnings of $2.03 per share. Freeport-McMoRan Inc. posted a net profit margin of 11.4% and a return on equity of 14.8%, with revenue down 7.3% compared to the same period last year. Its next earnings report is scheduled for October 27, 2026.

Dividend

Freeport-McMoRan Inc. pays an annual dividend of $0.60 per share, which translates to a dividend yield of 0.87%. The company pays out 29.6% of its earnings as dividends.

Insider Buying and Selling at Freeport-McMoRan Inc.

Company insiders completed several stock sales leading up to the filing. On August 5, 2026, officer Stephen T Higgins sold 14,277 shares at $69.50 each for $992,252. On the same day, officer Ellie L. Mikes sold 4,773 shares at $70.00 apiece, totaling $334,110. Later, on August 25, 2026, General Counsel Douglas Nicholas Currault II sold 80,000 shares at $78.56 per share for a total of $6,284,464. Finally, director Lydia H Kennard sold 3,798 shares on August 27, 2026, at $79.11 each for $300,471.

Analysts Set New Price Targets

Wall Street firms updated their views on the stock through October 2026. On October 6, 2026, Barclays maintained its Overweight rating and raised its price target to $83.00 from $82.00. JP Morgan kept an Overweight rating on October 7, 2026, lifting its target from $77.00 to $92.00. Morgan Stanley maintained an Equal-Weight rating on October 7, 2026, moving its target to $75.00 from $70.00. UBS kept a Buy rating on October 8, 2026, bumping its target to $78.00 from $77.00. Barclays returned on October 19, 2026, to reiterate its Overweight rating while nudging its target up to $84.00. Overall, the stock carries a consensus Buy rating from analysts with a mean price target of $79.11.

About Freeport-McMoRan Inc.

Freeport-McMoRan Inc. explores for and mines copper, gold, molybdenum, and other metals across North America, South America, and Indonesia. Its major operations include the Grasberg minerals district in Indonesia, several large open-pit copper mines in Arizona and New Mexico, and projects in Colorado, Peru, and Chile. These metal assets tie the company's financial performance directly to global commodity demand.

Bottom Line

Investors will look toward Freeport-McMoRan Inc.'s upcoming earnings release on October 27, 2026, for fresh updates on production costs and metal realizations. Future institutional reports will show whether other large funds follow Barings in trimming exposure to the copper producer.