Q3 EPS Estimates for Freeport-McMoRan Cut by Zacks Research

Key Points

• Zacks Research lowered Freeport-McMoRan’s Q3 2026 EPS estimate to $0.61 from $0.63, while projecting full-year 2026 earnings of $2.84 per share.
• Analyst sentiment remains favorable, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $75.67; several firms recently raised their targets.
• Freeport-McMoRan recently beat quarterly earnings and revenue expectations, and declared a quarterly dividend of $0.075 per share, though insiders have sold shares and gold shipment delays may pose near-term risks.

Freeport-McMoRan Inc. (NYSE:FCX - Free Report) - Research analysts at Zacks Research lowered their Q3 2026 EPS estimates for shares of Freeport-McMoRan in a report released on Wednesday, October 7th. Zacks Research analyst Team now expects that the natural resource company will post earnings per share of $0.61 for the quarter, down from their prior forecast of $0.63. The consensus estimate for Freeport-McMoRan's current full-year earnings is $2.84 per share. Zacks Research also issued estimates for Freeport-McMoRan's Q2 2027 earnings at $0.85 EPS, Q3 2027 earnings at $0.91 EPS, Q4 2027 earnings at $0.86 EPS, FY2027 earnings at $3.47 EPS, Q1 2028 earnings at $0.74 EPS, Q2 2028 earnings at $0.91 EPS, Q3 2028 earnings at $0.91 EPS and FY2028 earnings at $3.41 EPS.

FCX has been the topic of several other reports. Erste Group Bank began coverage on shares of Freeport-McMoRan in a research report on Thursday, August 27th. They set a "buy" rating on the stock. Bank of America lifted their price target on shares of Freeport-McMoRan from $74.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. HSBC boosted their price target on Freeport-McMoRan from $72.00 to $75.00 in a research note on Friday, June 12th. JPMorgan Chase & Co. raised their price target on Freeport-McMoRan from $77.00 to $92.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Citigroup boosted their price objective on shares of Freeport-McMoRan from $66.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $75.67.

Freeport-McMoRan Stock Down 0.9%

Freeport-McMoRan stock opened at $71.93 on Thursday. The stock's 50 day moving average price is $71.41 and its 200 day moving average price is $65.91. Freeport-McMoRan has a 1-year low of $38.54 and a 1-year high of $80.24. The company has a market cap of $103.29 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 0.71 and a beta of 1.39. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 0.92.

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

Freeport-McMoRan Dividend Announcement

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

Insider Activity

In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 14,277 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $69.50, for a total value of $992,251.50. Following the sale, the chief accounting officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $334,110.00. Following the transaction, the chief accounting officer owned 36,000 shares in the company, valued at approximately $2,520,000. The trade was a 11.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 110,398 shares of company stock worth $8,387,271. Corporate insiders own 0.73% of the company's stock.

Institutional Trading of Freeport-McMoRan

A number of institutional investors and hedge funds have recently made changes to their positions in FCX. Pinnacle Bancorp Inc. increased its position in shares of Freeport-McMoRan by 7.9% during the 1st quarter. Pinnacle Bancorp Inc. now owns 2,011 shares of the natural resource company's stock valued at $118,000 after purchasing an additional 147 shares during the last quarter. Steph & Co. raised its position in Freeport-McMoRan by 43.7% in the first quarter. Steph & Co. now owns 493 shares of the natural resource company's stock worth $29,000 after acquiring an additional 150 shares during the period. Richardson Financial Services Inc. boosted its stake in shares of Freeport-McMoRan by 11.6% during the 2nd quarter. Richardson Financial Services Inc. now owns 1,539 shares of the natural resource company's stock worth $97,000 after acquiring an additional 160 shares during the last quarter. Essex Bank increased its stake in shares of Freeport-McMoRan by 1.2% in the 1st quarter. Essex Bank now owns 14,104 shares of the natural resource company's stock worth $829,000 after purchasing an additional 163 shares in the last quarter. Finally, Fiduciary Financial Group LLC grew its holdings in Freeport-McMoRan by 2.6% during the second quarter. Fiduciary Financial Group LLC now owns 6,788 shares of the natural resource company's stock valued at $427,000 after purchasing an additional 173 shares during the period. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan News Roundup

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

• Positive Sentiment: Analysts raised their valuation targets. JPMorgan increased its target from $77 to $92 and maintained an “overweight” rating. Wells Fargo also raised its target from $70 to $87 while keeping an “overweight” rating. Morgan Stanley lifted its target from $70 to $75, although it retained an “equal weight” rating.
• Positive Sentiment: Copper’s growth outlook is supporting FCX. Deutsche Bank expects copper’s rally to continue and sees a potential move to $10 per pound, citing strong demand from artificial intelligence infrastructure and electric vehicles. As a major copper producer, Freeport-McMoRan could benefit from higher realized prices and stronger cash flow. Three stocks to buy as Deutsche Bank says copper could hit $10 a pound
• Positive Sentiment: Earnings expectations remain constructive. Zacks highlighted FCX’s history of exceeding quarterly estimates and said the company currently has factors that could support another earnings beat. Will Freeport-McMoRan Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: Market commentary continues to identify FCX as a potential opportunity among copper stocks, including through options strategies, if commodity volatility remains favorable. 3 Sectors Where Volatility Is Creating Entry Points, Not Exit Signals
• Neutral Sentiment: FCX has become a heavily watched stock on Zacks, but the related coverage is primarily an investor-interest and valuation discussion rather than a new company catalyst. Is Trending Stock Freeport-McMoRan a Buy Now?
• Negative Sentiment: Reports warn that gold shipment deferrals could delay revenue or cash generation, while steady copper production may limit near-term volume growth. These operational timing issues could offset some of the benefit from higher copper prices. How Gold Shipment Deferrals and Steady Copper Output Could Shape Freeport-McMoRan’s Risk Profile

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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