Freeport-McMoRan (NYSE:FCX) Price Target Cut to $68.00 by Analysts at The Goldman Sachs Group

Key Points

• Goldman Sachs trimmed its price target on Freeport‑McMoRan to $68 (from $70) while maintaining a buy rating, implying about an 11% upside from the prior close.
• Analyst views are mixed—several firms have raised targets or ratings (e.g., Argus, UBS), others cut them (e.g., Wells Fargo, Wall Street Zen)—with a MarketBeat consensus of a Moderate Buy and a $65.57 average price target.
• Freeport beat Q1 EPS estimates ($0.57 vs. ~$0.47) and revenue was up ~8.8% year‑over‑year, but management cut 2026 copper sales guidance after a slower Grasberg ramp, which has increased near‑term stock volatility.

Freeport-McMoRan (NYSE:FCX - Get Free Report) had its price target reduced by equities researchers at The Goldman Sachs Group from $70.00 to $68.00 in a report released on Friday,MarketScreener reports. The brokerage currently has a "buy" rating on the natural resource company's stock. The Goldman Sachs Group's price target points to a potential upside of 11.27% from the company's previous close.

Several other equities research analysts have also issued reports on the stock. Argus raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating in a research note on Friday, February 13th. Wells Fargo & Company reduced their price target on Freeport-McMoRan from $77.00 to $68.00 and set an "overweight" rating for the company in a report on Friday. Stifel Nicolaus increased their price target on Freeport-McMoRan from $52.00 to $76.00 and gave the stock a "buy" rating in a research report on Wednesday, February 11th. CICC Research raised their price objective on Freeport-McMoRan from $50.40 to $64.40 and gave the company an "outperform" rating in a report on Monday, January 26th. Finally, Wall Street Zen cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Saturday, February 14th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $65.57.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $61.12 on Friday. Freeport-McMoRan has a twelve month low of $34.45 and a twelve month high of $70.96. The company's 50 day moving average is $62.47 and its 200 day moving average is $53.78. The company has a current ratio of 2.39, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28. The company has a market cap of $87.83 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 0.71 and a beta of 1.48.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same period in the previous year, the company posted $0.24 earnings per share. Freeport-McMoRan's revenue for the quarter was up 8.8% on a year-over-year basis. On average, sell-side analysts forecast that Freeport-McMoRan will post 2.54 EPS for the current year.

Insider Activity

In related news, CAO Ellie L. Mikes sold 11,000 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $62.03, for a total value of $682,330.00. Following the completion of the transaction, the chief accounting officer directly owned 40,773 shares of the company's stock, valued at approximately $2,529,149.19. This represents a 21.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Stephen T. Higgins sold 29,654 shares of the firm'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 completion of the transaction, the chief accounting officer owned 76,445 shares in the company, valued at $4,816,035. The trade was a 27.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 565,145 shares of company stock valued at $35,839,918 in the last three months. Company insiders own 0.75% of the company's stock.

Institutional Trading of Freeport-McMoRan

Large investors have recently bought and sold shares of the business. Brighton Jones LLC increased its holdings in shares of Freeport-McMoRan by 24.2% in the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company's stock valued at $564,000 after purchasing an additional 2,882 shares during the last quarter. Bison Wealth LLC raised its holdings in shares of Freeport-McMoRan by 5.6% during the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company's stock worth $366,000 after acquiring an additional 507 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Freeport-McMoRan during the 2nd quarter worth $560,000. Brown Advisory Inc. boosted its position in shares of Freeport-McMoRan by 27.0% during the 2nd quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company's stock valued at $539,000 after acquiring an additional 2,648 shares during the last quarter. Finally, Jump Financial LLC grew its holdings in shares of Freeport-McMoRan by 42.7% in the second quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company's stock valued at $2,172,000 after purchasing an additional 14,992 shares during the period. Hedge funds and other institutional investors own 80.77% of the company's stock.

Trending Headlines about Freeport-McMoRan

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

• Positive Sentiment: Q1 beat and cash support — FCX reported stronger‑than‑expected Q1 results (EPS $0.57 vs. ~$0.47 est.) with revenue up ~8.7% YoY; management noted higher realized commodity prices and a ~$700M insurance payment that helped results. Freeport-McMoRan: Less Copper Supply Isn't All Bad
• Positive Sentiment: Analyst upgrade — UBS raised its price target to $74 and kept a Buy rating, signaling upside based on commodity outlook and valuation. UBS Lifts Price Target on Freeport-McMoRan to $74
• Neutral Sentiment: Market/valuation debate — Several pieces question whether current share price already reflects copper optimism and the recent volatility; investors should weigh the outlook for copper prices vs. reduced volumes. Is Freeport-McMoRan (FCX) Pricing Fully Reflects Recent Copper Optimism And Share Volatility
• Neutral Sentiment: Company materials and call — The earnings presentation and transcript are available for review (useful for guidance detail, cost outlook and timing for Grasberg ramp). Freeport-McMoRan Inc. (FCX) Q1 2026 Earnings Call Transcript
• Negative Sentiment: Grasberg production setbacks — Management cut 2026 copper sales guidance (roughly a 300M lb reduction cited) after a slower Grasberg ramp following last year’s incident; lower volumes directly pressure near‑term revenue and triggered the sell‑off. Freeport McMoRan falls as Grasberg delay cuts 2026 output outlook
• Negative Sentiment: Analyst downgrades and target cuts — Multiple firms trimmed targets or ratings (Morgan Stanley downgraded to Equal Weight and cut its PT; others cut targets or estimates), increasing near‑term selling pressure despite some boutiques still bullish. Morgan Stanley Downgrades Freeport-McMoRan Bernstein Adjusts Price Target on Freeport-McMoRan
• Negative Sentiment: Stock reaction — The market punished FCX on the combination of the production cut and uncertain Grasberg timing (reports of a ~10% intraday drop were published), showing sensitivity to volume risk even with strong commodity prices. Freeport-McMoRan (FCX) Stock Plunges 10% After Slashing Production Forecasts

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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