Freeport-McMoRan (NYSE:FCX) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Freeport-McMoRan to “Hold” from “Buy,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $70.27.
• FCX reported quarterly EPS of $0.74, beating estimates of $0.62, while revenue of $7.03 billion exceeded expectations but declined 7.3% year over year.
• The stock opened at $69.67, near its 12-month high of $72.28. Recent insider sales totaled 26,600 shares worth about $1.8 million, while institutional investors own approximately 80.77% of the company.

Freeport-McMoRan (NYSE:FCX - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Several other research analysts have also weighed in on FCX. BMO Capital Markets reaffirmed an "outperform" rating and set a $78.00 target price on shares of Freeport-McMoRan in a research note on Thursday, July 23rd. Wells Fargo & Company upped their price objective on shares of Freeport-McMoRan from $68.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, July 24th. Sanford C. Bernstein increased their price objective on shares of Freeport-McMoRan from $53.50 to $58.50 and gave the stock a "market perform" rating in a research report on Wednesday, June 10th. Morgan Stanley increased their price objective on shares of Freeport-McMoRan from $66.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 8th. Finally, Stifel Nicolaus lifted their target price on shares of Freeport-McMoRan from $76.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $70.27.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $69.67 on Friday. The stock has a market cap of $100.16 billion, a PE ratio of 34.32, a P/E/G ratio of 0.68 and a beta of 1.37. The company has a current ratio of 2.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. Freeport-McMoRan has a twelve month low of $35.15 and a twelve month high of $72.28. The stock has a fifty day simple moving average of $64.03 and a 200-day simple moving average of $62.85.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company's quarterly revenue was down 7.3% on a year-over-year basis. During the same period last year, the company earned $0.54 EPS. Equities analysts anticipate that Freeport-McMoRan will post 2.76 earnings per share for the current year.

Insider Activity at Freeport-McMoRan

In related news, CAO Stephen T. Higgins sold 14,277 shares of the company'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 transaction of $992,251.50. Following the sale, the chief accounting officer directly owned 54,618 shares of the company's stock, valued at $3,795,951. This 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 firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $70.00, for a total transaction of $334,110.00. Following the completion of the transaction, the chief accounting officer directly owned 36,000 shares of the company's stock, valued at $2,520,000. This represents a 11.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 26,600 shares of company stock valued at $1,802,012. Insiders own 0.73% of the company's stock.

Institutional Trading of Freeport-McMoRan

A number of large investors have recently modified their holdings of FCX. Strategic Investment Solutions Inc. IL acquired a new position in Freeport-McMoRan during the 4th quarter worth $25,000. Steph & Co. raised its position in Freeport-McMoRan by 43.7% in the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company's stock valued at $29,000 after purchasing an additional 150 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Freeport-McMoRan in the 1st quarter valued at about $29,000. Kemnay Advisory Services Inc. purchased a new position in shares of Freeport-McMoRan in the 4th quarter valued at about $29,000. Finally, SHP Wealth Management purchased a new position in shares of Freeport-McMoRan in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 80.77% of the company's stock.

More Freeport-McMoRan News

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

• Positive Sentiment: Freeport-McMoRan declared a quarterly dividend of $0.075 per share, equivalent to $0.30 annually and a yield of approximately 0.4%. The dividend provides a modest income component for shareholders. Freeport-McMoRan Declares Dividend
• Positive Sentiment: Market attention remains centered on FCX’s copper exposure, with demand expectations tied to electrification, power-grid investment, electric vehicles and data-center infrastructure. Copper and gold prices and outlooks remain important potential catalysts. Why Freeport-McMoRan Is Drawing Copper Attention
• Positive Sentiment: Unusually high options activity indicates heightened trader interest and potentially bullish speculation in FCX, though options positioning can also increase short-term volatility. Freeport-McMoRan Target of Unusually High Options Trading
• Neutral Sentiment: Zacks Research raised its FY2026 EPS forecast to $2.52 from $2.43 and its Q1 2027 estimate to $0.85 from $0.75. However, the firm maintained its current-year consensus reference at $2.75, making the broader earnings signal mixed.
• Negative Sentiment: Zacks cut several forward estimates, including Q3 and Q4 2026 EPS to $0.63 and $0.58, FY2027 EPS to $3.54 from $3.65, and FY2028 EPS to $3.52 from $3.82. The reductions may raise concerns about production, commodity-price or cost assumptions.
• Negative Sentiment: Chief Accounting Officer Ellie Mikes sold 4,773 shares for approximately $334,110, reducing her direct holdings by 11.71%. The sale is a modest negative sentiment signal, though it may reflect personal financial planning rather than weaker company fundamentals. Ellie Mikes Sells FCX Shares

About Freeport-McMoRan

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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