Equities Analysts Offer Predictions for FCX FY2026 Earnings

Key Points

• Zacks Research raised its FY2026 EPS forecast for Freeport-McMoRan to $2.43 (from $1.94) and lifted multi-year estimates, including FY2027 to $3.65 and FY2028 to $3.82, signaling expectations for stronger earnings growth.
• Several brokerages trimmed price targets recently but the analyst consensus remains a Moderate Buy with an average target of about $65.14 (ratings: 1 Strong Buy, 16 Buy, 5 Hold).
• Freeport beat the most recent quarter with $0.57 EPS (vs. $0.47 expected) and $6.23B revenue (vs. $5.73B), pays a $0.075 quarterly dividend (0.5% yield), and shows high institutional ownership (~80.8%) while insiders have been net sellers.

Freeport-McMoRan Inc. (NYSE:FCX - Free Report) - Research analysts at Zacks Research lifted their FY2026 earnings estimates for shares of Freeport-McMoRan in a note issued to investors on Wednesday, May 6th. Zacks Research analyst Team now forecasts that the natural resource company will post earnings of $2.43 per share for the year, up from their prior estimate of $1.94. The consensus estimate for Freeport-McMoRan's current full-year earnings is $2.52 per share. Zacks Research also issued estimates for Freeport-McMoRan's Q4 2026 earnings at $0.65 EPS, Q3 2027 earnings at $1.00 EPS, Q4 2027 earnings at $0.98 EPS, FY2027 earnings at $3.65 EPS and FY2028 earnings at $3.82 EPS.

A number of other analysts have also commented on the stock. CICC Research lowered their target price on shares of Freeport-McMoRan from $64.40 to $63.40 and set an "outperform" rating for the company in a report on Tuesday, April 28th. Citigroup decreased their price target on shares of Freeport-McMoRan from $67.00 to $66.00 and set a "buy" rating for the company in a report on Friday, May 1st. Scotiabank decreased their price target on shares of Freeport-McMoRan from $71.00 to $67.00 and set a "sector perform" rating for the company in a report on Friday, April 24th. BNP Paribas Exane decreased their price target on shares of Freeport-McMoRan from $75.00 to $71.00 and set an "outperform" rating for the company in a report on Tuesday, April 28th. Finally, The Goldman Sachs Group decreased their price target on shares of Freeport-McMoRan from $70.00 to $68.00 and set a "buy" rating for the company in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Freeport-McMoRan currently has an average rating of "Moderate Buy" and a consensus target price of $65.14.

Freeport-McMoRan Price Performance

FCX opened at $60.59 on Friday. The company has a fifty day moving average price of $61.79 and a two-hundred day moving average price of $54.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. Freeport-McMoRan has a 52 week low of $35.15 and a 52 week high of $70.96. The firm has a market capitalization of $87.08 billion, a PE ratio of 32.23, a P/E/G ratio of 0.75 and a beta of 1.32.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The firm had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.73 billion. During the same quarter in the previous year, the business earned $0.24 EPS. The business's quarterly revenue was up 8.8% compared to the same quarter last year.

Hedge Funds Weigh In On Freeport-McMoRan

A number of large investors have recently modified their holdings of FCX. Wellington Management Group LLP boosted its stake in shares of Freeport-McMoRan by 190.9% during the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company's stock worth $1,431,326,000 after buying an additional 23,950,557 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of 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 worth $1,014,434,000 after buying an additional 9,924,573 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Freeport-McMoRan by 31.2% during the 4th quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company's stock worth $1,897,202,000 after buying an additional 8,891,743 shares during the last quarter. Amundi boosted its stake in shares of Freeport-McMoRan by 102.5% during the 4th quarter. Amundi now owns 14,211,579 shares of the natural resource company's stock worth $721,806,000 after buying an additional 7,192,955 shares during the last quarter. Finally, PointState Capital LP acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth about $198,523,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Stephen T. Higgins sold 29,654 shares of the business's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $63.00, for a total value of $1,868,202.00. Following the sale, the chief accounting officer directly owned 76,445 shares of the company's stock, valued at approximately $4,816,035. The trade was a 27.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard C. Adkerson sold 152,960 shares of the business's stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $64.65, for a total transaction of $9,888,864.00. Following the completion of the sale, the chairman directly owned 3,356,159 shares in the company, valued at $216,975,679.35. This represents a 4.36% 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 worth $35,839,918 in the last ninety days. 0.75% of the stock is owned by insiders.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, April 15th. Freeport-McMoRan's payout ratio is currently 15.96%.

Key Stories Impacting Freeport-McMoRan

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

• Positive Sentiment: Zacks Research raised estimates across many periods (Q2–Q4 2026, Q1–Q4 2027, FY2026–FY2028), including a notable lift to FY2027 ($3.65) and FY2028 ($3.82), signaling analysts expect stronger earnings growth ahead. Read More.
• Neutral Sentiment: Analysis pieces highlight copper’s central role to Freeport’s outlook (EVs, data centers, renewables) and examine operational drivers (including Grasberg) that can swing results; useful context but not a new catalyst by itself. Read More.
• Neutral Sentiment: Coverage discussing a “shock” tied to Freeport and the Russell 1000’s copper focus may draw attention to index/flow dynamics; could affect trading interest but is not a direct company fundamental change. Read More.
• Neutral Sentiment: Press about other miners (e.g., Max Resource OTCQB listing) is industry noise with minimal direct impact on Freeport’s fundamentals. Read More.

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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