Zacks Research Has Bullish Estimate for FCX Q2 Earnings

Key Points

• Zacks Research raised its Q2 2026 EPS estimate for Freeport-McMoRan to $0.53 (from $0.47) and issued higher forward-quarter estimates, with a consensus full-year EPS of $2.52.
• Freeport recently beat expectations for the quarter ended April 23, reporting EPS of $0.57 versus a $0.47 consensus and revenue of $6.23B (up 8.8% YoY).
• Insiders sold about 565,145 shares (~$35.8M) in the last quarter while institutional investors own 80.77% of the stock; the company also pays a quarterly dividend that annualizes to a 0.5% yield.

Freeport-McMoRan Inc. (NYSE:FCX - Free Report) - Analysts at Zacks Research raised their Q2 2026 EPS estimates for Freeport-McMoRan in a research report issued on Wednesday, May 6th. Zacks Research analyst Team now expects that the natural resource company will post earnings of $0.53 per share for the quarter, up from their previous forecast of $0.47. 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 Q3 2026 earnings at $0.68 EPS, Q1 2027 earnings at $0.75 EPS, Q2 2027 earnings at $0.92 EPS and Q1 2028 earnings at $0.78 EPS.

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

FCX has been the topic of several other research reports. BMO Capital Markets lifted their target price on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the company an "outperform" rating in a report on Wednesday, January 14th. JPMorgan Chase & Co. lowered their target price on shares of Freeport-McMoRan from $76.00 to $73.00 and set an "overweight" rating on the stock in a report on Monday, April 27th. Wall Street Zen downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Saturday, February 14th. Argus raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating in a report on Friday, February 13th. Finally, Stifel Nicolaus lifted their target price on shares of Freeport-McMoRan from $52.00 to $76.00 and gave the company a "buy" rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $65.14.

Freeport-McMoRan Stock Up 5.6%

Shares of NYSE:FCX opened at $60.93 on Thursday. The company has a market cap of $87.57 billion, a price-to-earnings ratio of 32.41, a PEG ratio of 0.71 and a beta of 1.32. The firm's 50-day simple moving average is $61.93 and its 200-day simple moving average is $54.65. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. Freeport-McMoRan has a fifty-two week low of $35.15 and a fifty-two week high of $70.96.

Freeport-McMoRan Dividend Announcement

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

Insider Activity

In related news, Chairman Richard C. Adkerson sold 152,960 shares of the business's stock in a transaction dated 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 sale, the chairman owned 3,356,159 shares of the company's stock, valued at approximately $216,975,679.35. The trade was a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Stephen T. Higgins sold 29,654 shares of the business's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $63.00, for a total transaction of $1,868,202.00. Following the sale, the chief accounting officer directly owned 76,445 shares in the company, valued at approximately $4,816,035. This represents a 27.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 565,145 shares of company stock valued at $35,839,918 in the last quarter. Insiders own 0.75% of the company's stock.

Institutional Trading of Freeport-McMoRan

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Freeport-McMoRan by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 130,332,957 shares of the natural resource company's stock worth $6,619,611,000 after acquiring an additional 1,572,769 shares during the last quarter. Fisher Asset Management LLC raised its position in Freeport-McMoRan by 1.0% during the fourth quarter. Fisher Asset Management LLC now owns 63,880,757 shares of the natural resource company's stock worth $3,244,504,000 after acquiring an additional 622,343 shares during the last quarter. State Street Corp raised its position in Freeport-McMoRan by 0.6% during the fourth quarter. State Street Corp now owns 62,873,136 shares of the natural resource company's stock worth $3,193,327,000 after acquiring an additional 395,226 shares during the last quarter. Franklin Resources Inc. raised its position in Freeport-McMoRan by 31.2% during the fourth quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company's stock worth $1,897,202,000 after acquiring an additional 8,891,743 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Freeport-McMoRan by 190.9% during the third quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company's stock worth $1,431,326,000 after acquiring an additional 23,950,557 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

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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