Freeport-McMoRan Inc. director Lydia H. Kennard sold 3,798 shares of the company’s common stock on August 27, 2026, for a total value of $300,470, according to regulatory filings. The transaction prices ranged from $79.10 to $79.18 per share, with a weighted average sale price of $79.1129.
Following the disposal, Kennard retains beneficial ownership of 122,702 shares, including 2,800 restricted stock units. The sale took place as Freeport-McMoRan’s shares approached a 52-week high of $80.24, amid a 74% gain over the past year.
The transaction follows the company’s second-quarter 2026 results, which exceeded expectations. Adjusted earnings reached $0.74 per share, surpassing Wall Street forecasts of $0.59, while revenue totaled $7.03 billion against projected $6.71 billion. Concerns over rising capital spending and adjusted project timelines weighed on the stock despite the strong financial performance.
Analyst coverage has remained constructive. Erste Group initiated coverage with a buy rating, though analyst Hans Engel noted expectations for declining copper and gold production volumes in 2026 due to operational changes in Indonesia. Molybdenum production, a byproduct, was cited as stable and supportive.
