Rathbones Group PLC Acquires 395,848 Shares of Freeport-McMoRan Inc. $FCX

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Rathbones Group PLC significantly increased its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 28.3% during the fourth quarter, purchasing an additional 395,848 shares and bringing its total holdings to 1,796,710 shares valued at approximately $91.26 million. This increase in institutional ownership comes amidst heavy insider selling, with CFO Maree E. Robertson and Chairman Richard C. Adkerson selling a combined 565,145 shares worth about $35.84 million. Despite the insider sales, Freeport-McMoRan reported strong Q4 earnings, beating estimates with $0.47 EPS and $5.63 billion in revenue, and maintains a “Moderate Buy” consensus rating from analysts with an average price target of $62.75.

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