Stifel Canada Raises Earnings Estimates for Freeport-McMoRan

Freeport-McMoRan Inc. (NYSE:FCX - Free Report) - Research analysts at Stifel Canada increased their FY2026 earnings per share (EPS) estimates for shares of Freeport-McMoRan in a research report issued to clients and investors on Tuesday, July 22nd. Stifel Canada analyst R. Profiti now forecasts that the natural resource company will post earnings of $1.80 per share for the year, up from their prior estimate of $1.59. Stifel Canada currently has a "Strong-Buy" rating on the stock. The consensus estimate for Freeport-McMoRan's current full-year earnings is $1.68 per share. Stifel Canada also issued estimates for Freeport-McMoRan's FY2027 earnings at $1.83 EPS.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The natural resource company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.09. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%. The firm had revenue of $7.58 billion for the quarter, compared to analyst estimates of $6.85 billion. During the same period in the prior year, the firm posted $0.46 EPS. The company's revenue for the quarter was up 14.5% on a year-over-year basis.

Several other analysts also recently weighed in on FCX. Morgan Stanley downgraded Freeport-McMoRan from an "overweight" rating to an "equal weight" rating and upped their price objective for the stock from $45.00 to $54.00 in a research report on Tuesday, July 15th. UBS Group downgraded Freeport-McMoRan from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $45.00 to $50.00 in a research report on Friday, July 11th. Wolfe Research upgraded Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price objective for the company in a research report on Wednesday, April 16th. Wall Street Zen upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, BMO Capital Markets dropped their price objective on Freeport-McMoRan from $55.00 to $54.00 and set an "outperform" rating for the company in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Freeport-McMoRan has a consensus rating of "Moderate Buy" and an average price target of $51.00.

Freeport-McMoRan Stock Performance

NYSE FCX traded up $0.29 on Thursday, reaching $44.87. The stock had a trading volume of 16,007,915 shares, compared to its average volume of 15,985,843. The firm has a fifty day moving average of $42.43 and a two-hundred day moving average of $38.98. The company has a market cap of $64.48 billion, a P/E ratio of 33.99, a price-to-earnings-growth ratio of 0.81 and a beta of 1.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.47 and a quick ratio of 1.13. Freeport-McMoRan has a 1-year low of $27.66 and a 1-year high of $52.61.

Institutional Investors Weigh In On Freeport-McMoRan

A number of institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Freeport-McMoRan by 24.2% during the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company's stock worth $564,000 after acquiring an additional 2,882 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in Freeport-McMoRan by 27.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 540,046 shares of the natural resource company's stock worth $20,565,000 after acquiring an additional 115,552 shares during the period. American Century Companies Inc. lifted its holdings in Freeport-McMoRan by 20.0% during the fourth quarter. American Century Companies Inc. now owns 504,987 shares of the natural resource company's stock worth $19,230,000 after acquiring an additional 84,207 shares during the period. Sei Investments Co. lifted its holdings in Freeport-McMoRan by 11.7% during the fourth quarter. Sei Investments Co. now owns 799,649 shares of the natural resource company's stock worth $30,451,000 after acquiring an additional 83,490 shares during the period. Finally, LPL Financial LLC lifted its holdings in Freeport-McMoRan by 10.1% during the fourth quarter. LPL Financial LLC now owns 1,776,932 shares of the natural resource company's stock worth $67,666,000 after acquiring an additional 162,933 shares during the period. 80.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Freeport-McMoRan

In other news, CAO Ellie L. Mikes sold 8,584 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $40.02, for a total value of $343,531.68. Following the transaction, the chief accounting officer owned 48,333 shares in the company, valued at $1,934,286.66. This trade represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.75% of the stock is owned by corporate insiders.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.34%. Freeport-McMoRan's dividend payout ratio is presently 22.73%.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.