FMR LLC & Abigail Johnson Report 5.635% Stake in Freeport-McMoRan
Ticker: FCX · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 831259
| Field | Detail |
|---|---|
| Company | Freeport-Mcmoran INC (FCX) |
| Form Type | SC 13G/A |
| Filed Date | Feb 9, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
Related Tickers: FCX
TL;DR
**FMR LLC and Abigail Johnson now own 5.635% of Freeport-McMoRan, a notable institutional position.**
AI Summary
FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have updated their beneficial ownership in Freeport-McMoRan Inc. (FCX) to 80,807,262 shares, representing 5.635% of the common stock. This is an amendment to a previous filing, indicating a change in their reported stake. For investors, this matters because FMR LLC is a significant institutional holder, and changes in their position can signal their confidence (or lack thereof) in the company's future prospects, potentially influencing other investors.
Why It Matters
This filing shows a major institutional investor's updated stake, which can influence market perception and potentially stock price due to the 'smart money' effect.
Risk Assessment
Risk Level: low — This is a routine update from a large institutional investor and does not inherently signal high risk, but rather transparency.
Analyst Insight
Investors should note this as a routine update from a major institutional holder. While not a direct buy/sell signal, it confirms continued significant institutional interest in Freeport-McMoRan Inc. Monitor future filings for substantial changes in this stake.
Key Numbers
- 80,807,262 — Shares Beneficially Owned (Represents the total common stock of Freeport-McMoRan Inc. held by FMR LLC and Abigail P. Johnson.)
- 5.635% — Percent of Class (Indicates the significant portion of Freeport-McMoRan Inc.'s common stock controlled by these reporting persons.)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Abigail P. Johnson (person) — reporting person, principal owner of FMR LLC
- FREEPORT-MCMORAN INC (company) — issuer of the common stock
- 80,807,262 (dollar_amount) — total shares beneficially owned by FMR LLC and Abigail P. Johnson
- 5.635% (dollar_amount) — percentage of class beneficially owned
Forward-Looking Statements
- FMR LLC will maintain a significant, long-term stake in Freeport-McMoRan Inc. (FMR LLC) — high confidence, target: 2025-02-09
FAQ
Who are the primary reporting persons in this SC 13G/A filing?
The primary reporting persons are FMR LLC and Abigail P. Johnson, as stated in Item 1 of the filing for both entities.
What is the total number of shares of FREEPORT-MCMORAN INC common stock beneficially owned by the reporting persons?
According to Item 4(a) and Item 9 for both FMR LLC and Abigail P. Johnson, the total amount beneficially owned is 80,807,262 shares.
What percentage of FREEPORT-MCMORAN INC's common stock do the reporting persons collectively own?
The reporting persons collectively own 5.635% of the class, as indicated in Item 11 for both FMR LLC and Abigail P. Johnson, and Item 4(b).
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed pursuant to Rule 13d-1(b), as indicated by the checked box in the filing and Item 3, where FMR LLC is identified as a parent holding company in accordance with Section 240.13d-1(b)(1)(ii)(G).
What is the CUSIP number for FREEPORT-MCMORAN INC common stock?
The CUSIP number for FREEPORT-MCMORAN INC common stock is 35671D857, as stated in Item 2(e) and at the top of the Schedule 13G.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding FREEPORT-MCMORAN INC (FCX).