Higgins Stephen T. 4: 29,654 shares of FCX ($1,868,202)

Our Take

→Mining executives rarely sell at copper's cyclical peaks, and Higgins' $1.9M liquidation—roughly 7% of his disclosed holdings—comes as copper prices sit near five-year highs and FCX trades at elevated multiples on the strength of its Indonesian operations and Arizona restart. This isn't panic selling, but it's the kind of opportunistic trim that executives make when valuations have run ahead of fundamentals, particularly for a company whose stock has been volatile around its large capital projects and geopolitical exposure to Indonesia.