Freeport-McMoRan Inc. (NYSE:FCX) Stock Has Average Target Price of $76.22

Key Points

• Analysts remain broadly bullish on Freeport-McMoRan: 20 of 25 brokerages rate the stock a buy, with a consensus “Moderate Buy” rating and an average 12-month price target of $76.22. UBS recently raised its target to $88, while Stifel Nicolaus, Barclays and Bank of America also increased their targets.
• Freeport-McMoRan exceeded quarterly earnings expectations, reporting EPS of $0.74 versus the $0.62 consensus and revenue of $7.03 billion versus $6.62 billion expected. Copper prices and demand remain the primary drivers of the company’s valuation and outlook.
• Some caution remains: Zacks lowered EPS estimates for several future periods, insiders sold more than 110,000 shares worth approximately $8.4 million during the last quarter, and the stock recently underperformed the broader market despite its strong analyst support.

Shares of Freeport-McMoRan Inc. (NYSE:FCX - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty-five brokerages that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $76.22.

Several equities analysts recently commented on the company. Stifel Nicolaus boosted their price target on Freeport-McMoRan from $76.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Barclays lifted their price objective on shares of Freeport-McMoRan from $82.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday. Freedom Broker cut shares of Freeport-McMoRan from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 3rd. Bank of America upped their target price on shares of Freeport-McMoRan from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. Finally, Sanford C. Bernstein lowered their price target on shares of Freeport-McMoRan from $50.00 to $47.00 and set a "market perform" rating for the company in a report on Wednesday, September 9th.

Freeport-McMoRan News Summary

Here are the key news stories impacting Freeport-McMoRan this week:

• Positive Sentiment: UBS raised its price target to $88 from $77 and maintained a Buy rating. The higher valuation target signals increased confidence in copper fundamentals and Freeport-McMoRan’s operating outlook. UBS Adjusts Price Target on Freeport-McMoRan to $88 From $77, Maintains Buy Rating
• Positive Sentiment: JPMorgan raised its price target for FCX, while Morgan Stanley said the stock is expected to rise. These positive recommendations reinforce the bullish analyst sentiment surrounding the copper producer. Freeport-McMoRan Stock Gets Price Target Bump from JPMorgan Chase & Co. Freeport-McMoRan Stock Price Expected to Rise, Morgan Stanley Analyst Says
• Neutral Sentiment: Copper remains the key investment driver for Freeport-McMoRan. The company’s earnings are highly sensitive to copper prices and demand, making long-term trends such as grid investment, electrification and industrial growth important to FCX’s valuation and its position in the S&P 500. Why Does Copper Matter for Freeport-McMoRan in S&P 500?
• Negative Sentiment: Zacks Research reduced EPS estimates across multiple periods. Forecasts were lowered for Q3 2026 to $0.61 from $0.63, FY2026 to $2.50 from $2.52, FY2027 to $3.47 from $3.54, and FY2028 to $3.41 from $3.52. The revisions suggest some pressure on expected production, copper pricing or costs, though the cuts were generally modest.
• Negative Sentiment: FCX recently underperformed the broader market in the latest session. That weakness may reflect profit-taking or concern about the lower earnings forecasts, despite the more constructive analyst price targets. Freeport-McMoRan Suffers a Larger Drop Than the General Market

Insider Activity

In related news, CAO Ellie L. Mikes sold 4,773 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $70.00, for a total value of $334,110.00. Following the completion of the transaction, the chief accounting officer owned 36,000 shares of the company's stock, valued at approximately $2,520,000. This represents a 11.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Stephen T. Higgins sold 14,277 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $69.50, for a total value of $992,251.50. Following the sale, the chief accounting officer owned 54,618 shares of the company's stock, valued at approximately $3,795,951. This trade represents a 20.72% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 110,398 shares of company stock valued at $8,387,271. Corporate insiders own 0.73% of the company's stock.

Hedge Funds Weigh In On Freeport-McMoRan

Several institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp increased its stake in shares of Freeport-McMoRan by 3.6% in the second quarter. State Street Corp now owns 66,485,424 shares of the natural resource company's stock worth $4,181,268,000 after buying an additional 2,300,416 shares during the last quarter. Bank of America Corp DE boosted its stake in Freeport-McMoRan by 20.0% during the 1st quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company's stock valued at $2,489,069,000 after acquiring an additional 7,044,775 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Freeport-McMoRan by 98.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 19,973,108 shares of the natural resource company's stock valued at $1,014,434,000 after acquiring an additional 9,924,573 shares during the last quarter. Wellington Management Group LLP grew its holdings in Freeport-McMoRan by 13.8% during the 2nd quarter. Wellington Management Group LLP now owns 14,918,066 shares of the natural resource company's stock worth $938,197,000 after acquiring an additional 1,810,698 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Freeport-McMoRan by 28.9% during the 4th quarter. Victory Capital Management Inc. now owns 17,366,596 shares of the natural resource company's stock worth $882,050,000 after acquiring an additional 3,894,872 shares in the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $73.67 on Friday. Freeport-McMoRan has a 1 year low of $38.54 and a 1 year high of $80.24. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 2.07. The firm has a 50 day moving average price of $71.78 and a 200 day moving average price of $66.10. The company has a market cap of $105.80 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 0.68 and a beta of 1.39.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.12. The firm had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $6.62 billion. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%. The firm's quarterly revenue was down 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. Sell-side analysts predict that Freeport-McMoRan will post 2.86 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be issued a $0.0750 dividend. The ex-dividend date is Thursday, October 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. Freeport-McMoRan's payout ratio is currently 14.78%.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc NYSE: FCX is a leading international mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Copper is its principal product and is used in electrical systems, construction, transportation, renewable energy infrastructure and other industrial applications. The company also produces copper cathodes and concentrates, gold, molybdenum products and certain quantities of silver and other byproducts.

Freeport-McMoRan operates a portfolio of mining and processing assets in North America, South America and Indonesia.

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