Freeport-McMoRan director Lydia Kennard sells $300,470 in stock

Freeport-McMoRan executive Lydia H. Kennard divested 3,798 shares of the company's common stock on August 27, 2026, selling them at prices between $79.1000 and $79.1800 per share, for a total of $300,470. The stock, currently trading near its 52-week high of $80.24, saw the sale amid its strong 74% return over the past year. However, InvestingPro's analysis suggests the stock is overvalued relative to its Fair Value.

Post-sale, Ms. Kennard holds 122,702 shares of Freeport-McMoRan common stock, including 2,800 Restricted Stock Units (RSUs). The company reported robust financials for Q2 2026, with adjusted earnings of $0.74 per share and revenue of $7.03 billion, exceeding Wall Street expectations. Despite this, market reactions were influenced by concerns over increased capital spending and project timeline adjustments.

Erste Group started covering the company with a buy rating, citing declining copper and gold production volumes by 2026 due to changes in Indonesia, but praising stable molybdenum production as a positive element.