Marathon Asset Management 13F: Cuts FCX Stake by $1.2M

On October 26, 2026, Marathon Asset Management reduced its stake in Freeport-McMoRan Inc. (FCX) by 17,816 shares. This decrease brings its total holdings to 200,252 shares, valued at about $14.0 million. The information comes from the fund's latest Form 13F filing with the SEC.

In this filing, Marathon disclosed a change in its position worth approximately $1.25 million, reflecting an 8.17% decrease in its shares. The fund's stake in Freeport now makes up about 1.11% of its total reported value of $1.26 billion, ranking it 31st among the 76 positions in its portfolio.

FCX Freeport-McMoRan Inc.

$65.16 ▲ +26.65% year to date

1M 3M YTD

Daily close · Oct 26, 2026

Other Institutional Activity in Freeport-McMoRan

Several other funds have also adjusted their positions in Freeport-McMoRan. Barings reduced its holdings by 45,552 shares, ending with 73,074 shares worth about $5.1 million. Fisher Asset Management, LLC increased its stake by 1,835,441 shares, bringing its total to 66,922,014 shares valued at approximately $4.4 billion. Franklin Resources, Inc. added 2,062,602 shares to its position, resulting in 37,381,125 shares worth about $2.4 billion.

Freeport-McMoRan Inc. Stock Holds Steady

As of October 27, 2026, Freeport-McMoRan shares traded recently around $65.19, which is about equal to the closing price of $65.16 on October 26. The stock is currently below its 50-day moving average of $71.86 and approximately 18.8% below its 52-week high of $80.24.

Recent Earnings

Freeport-McMoRan reported trailing twelve-month revenue of approximately $25.87 billion and an earnings per share (EPS) of $2.03. The company is set to announce its next earnings report on October 27, 2026.

Dividend

Freeport-McMoRan has a dividend rate of $0.60 per share, yielding approximately 0.92%. The payout ratio stands at 29.6%, indicating a reasonable distribution of earnings.

Insider Buying and Selling at Freeport-McMoRan Inc.

Several insiders sold shares earlier this year. Officer Ellie L. Mikes sold 4,773 shares at an average price of $70.00 on August 5, 2026. Officer Stephen T. Higgins sold 14,277 shares at $69.50 on the same day. General Counsel Douglas Nicholas Currault II sold 80,000 shares at $78.56 on August 25, 2026, while Director Lydia H. Kennard sold 3,798 shares at $79.11 on August 27, 2026.

Analysts Set New Price Targets

On October 19, 2026, Barclays maintained an Overweight rating for Freeport-McMoRan with a price target of $84.00, up from its previous target of $83.00. Other firms like JP Morgan and UBS also maintained their Overweight ratings, with targets of $92.00 and $78.00 respectively. The consensus among analysts is a buy recommendation, with a mean price target of $79.20 based on 22 opinions.

About Freeport-McMoRan

Freeport-McMoRan Inc. is involved in mining mineral properties across North America, South America, and Indonesia. The company primarily explores for copper, gold, and other metals. Its major assets include the Grasberg minerals district in Indonesia and several mines in the U.S. and South America.

Bottom Line

Investors will be watching Freeport-McMoRan closely as the company is set to announce its next earnings report on October 27, 2026. With recent adjustments from institutional investors, the stock's performance in the coming weeks will be of interest, especially in light of its current valuation relative to analyst price targets.