Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Freeport-McMoRan (NYSE:FCX) Stock Price

Key Points

• Deutsche Bank cut its price target on Freeport‑McMoRan to $68 from $72 but maintained a "buy" rating, implying roughly a 10.8% upside; the analyst consensus remains a Moderate Buy with an average target of $65.66.
• Freeport beat Q1 EPS ($0.57 vs. ~$0.47) but cut 2026/2027 copper sales by ~300 million pounds due to a slower-than-expected Grasberg ramp, triggering an ~10% intraday share plunge and prompting analyst downward revisions that weigh on near-term valuation.
• Insiders have sold about 565,145 shares (~$35.8M) in the last 90 days while institutional investors own roughly 80.8% of the stock, with Vanguard, Fisher and State Street among the largest holders.

Freeport-McMoRan (NYSE:FCX - Get Free Report) had its price target cut by equities research analysts at Deutsche Bank Aktiengesellschaft from $72.00 to $68.00 in a report issued on Friday,MarketScreener reports. The brokerage currently has a "buy" rating on the natural resource company's stock. Deutsche Bank Aktiengesellschaft's price target suggests a potential upside of 10.82% from the company's current price.

FCX has been the subject of several other reports. BMO Capital Markets increased their price objective on Freeport-McMoRan from $55.00 to $68.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 14th. CICC Research increased their price objective on Freeport-McMoRan from $50.40 to $64.40 and gave the stock an "outperform" rating in a research note on Monday, January 26th. Argus raised Freeport-McMoRan from a "hold" rating to a "buy" rating in a research note on Friday, February 13th. UBS Group lowered their price objective on Freeport-McMoRan from $70.00 to $66.00 and set a "buy" rating for the company in a research note on Friday, March 27th. Finally, The Goldman Sachs Group initiated coverage on Freeport-McMoRan in a research note on Thursday, April 2nd. They issued a "buy" rating and a $70.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $65.66.

Freeport-McMoRan Stock Down 0.2%

FCX stock traded down $0.12 during trading on Friday, reaching $61.36. 3,672,660 shares of the stock were exchanged, compared to its average volume of 19,804,770. The firm's 50 day moving average is $62.50 and its 200 day moving average is $53.64. Freeport-McMoRan has a twelve month low of $34.45 and a twelve month high of $70.96. The company has a current ratio of 2.29, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The firm has a market cap of $88.19 billion, a P/E ratio of 40.68, a price-to-earnings-growth ratio of 0.81 and a beta of 1.48.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.47 by $0.10. The firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.40 billion. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The company's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 earnings per share. As a group, research analysts forecast that Freeport-McMoRan will post 2.54 EPS for the current year.

Insider Activity at Freeport-McMoRan

In related news, CAO Ellie L. Mikes sold 11,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $62.03, for a total transaction of $682,330.00. Following the completion of the sale, the chief accounting officer directly owned 40,773 shares of the company's stock, valued at approximately $2,529,149.19. This trade represents a 21.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Douglas N. Currault II sold 75,000 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $64.52, for a total value of $4,839,000.00. Following the sale, the executive vice president directly owned 219,181 shares of the company's stock, valued at $14,141,558.12. The trade was a 25.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 565,145 shares of company stock valued at $35,839,918 in the last ninety days. Insiders own 0.75% of the company's stock.

Hedge Funds Weigh In On Freeport-McMoRan

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Freeport-McMoRan by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 130,332,957 shares of the natural resource company's stock valued at $6,619,611,000 after purchasing an additional 1,572,769 shares during the period. Fisher Asset Management LLC grew its holdings in Freeport-McMoRan by 1.0% during the fourth quarter. Fisher Asset Management LLC now owns 63,880,757 shares of the natural resource company's stock valued at $3,244,504,000 after purchasing an additional 622,343 shares during the period. State Street Corp grew its holdings in Freeport-McMoRan by 0.6% during the fourth quarter. State Street Corp now owns 62,873,136 shares of the natural resource company's stock valued at $3,193,327,000 after purchasing an additional 395,226 shares during the period. Franklin Resources Inc. grew its holdings in Freeport-McMoRan by 31.2% during the fourth quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company's stock valued at $1,897,202,000 after purchasing an additional 8,891,743 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Freeport-McMoRan by 190.9% during the third quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company's stock valued at $1,431,326,000 after purchasing an additional 23,950,557 shares during the period. 80.77% of the stock is owned by institutional investors.

Key Headlines Impacting Freeport-McMoRan

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

• Positive Sentiment: Q1 EPS and revenue beat estimates (EPS $0.57 vs. ~$0.47 consensus) driven by higher copper, gold and molybdenum prices, supporting near-term profitability. Article Title
• Positive Sentiment: Commodity tailwinds: rising copper prices were a key driver of the beat and underpin medium-term cash flow expectations for FCX. Article Title
• Positive Sentiment: Upgraded analyst views and higher price targets ahead of the quarter (e.g., Deutsche Bank raised its target), supporting longer-term bullish thesis. Article Title
• Neutral Sentiment: Company released Q1 presentation, press release and full earnings call transcript — useful for modeling but not market-moving by itself. Article Title
• Neutral Sentiment: Full earnings call transcripts are available for deeper read on management commentary and timeline for Grasberg ramp. Article Title
• Negative Sentiment: Company cut 2026 (and 2027) copper sales volume by ~300 million pounds due to a slower-than-expected ramp at Grasberg after last year’s fatal mud rush — this materially reduces near-term supply and revenue outlook. Article Title
• Negative Sentiment: Market reaction: shares plunged (~10% intraday reported) after the production downgrade despite the earnings beat — the production miss dominates near-term valuation. Article Title
• Negative Sentiment: Analyst downward revisions: some firms (e.g., Scotiabank) trimmed earnings estimates following the weaker output outlook, adding pressure to near-term sentiment and target-price revisions. Article Title

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.

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