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How to Invest Early In the Next Potential Breakthrough Nerve-Sensing Technology (Ad)
Elon Musk restores X account of conspiracy theorist Alex Jones
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At UN climate talks, cameras are everywhere. Many belong to Emirati company with a murky history
The EU wants to put a tax on emissions from imports. It's irked some other nations at COP28
How to Invest Early In the Next Potential Breakthrough Nerve-Sensing Technology (Ad)
Miyazaki's 'The Boy and the Heron' is No. 1 at the box office, a first for the Japanese anime master
Much of Kenya falls into darkness in the third nationwide power blackout in 3 months
S&P 500   4,604.37
DOW   36,247.87
QQQ   392.17
The Dodgers gave Shohei Ohtani $700 million to hit and pitch — but also because he can sell
How to Invest Early In the Next Potential Breakthrough Nerve-Sensing Technology (Ad)
Elon Musk restores X account of conspiracy theorist Alex Jones
Freshworks gets juiced on its AI customer engagement platform
How to Invest Early In the Next Potential Breakthrough Nerve-Sensing Technology (Ad)
At UN climate talks, cameras are everywhere. Many belong to Emirati company with a murky history
The EU wants to put a tax on emissions from imports. It's irked some other nations at COP28
How to Invest Early In the Next Potential Breakthrough Nerve-Sensing Technology (Ad)
Miyazaki's 'The Boy and the Heron' is No. 1 at the box office, a first for the Japanese anime master
Much of Kenya falls into darkness in the third nationwide power blackout in 3 months
S&P 500   4,604.37
DOW   36,247.87
QQQ   392.17
The Dodgers gave Shohei Ohtani $700 million to hit and pitch — but also because he can sell
How to Invest Early In the Next Potential Breakthrough Nerve-Sensing Technology (Ad)
Elon Musk restores X account of conspiracy theorist Alex Jones
Freshworks gets juiced on its AI customer engagement platform
How to Invest Early In the Next Potential Breakthrough Nerve-Sensing Technology (Ad)
At UN climate talks, cameras are everywhere. Many belong to Emirati company with a murky history
The EU wants to put a tax on emissions from imports. It's irked some other nations at COP28
How to Invest Early In the Next Potential Breakthrough Nerve-Sensing Technology (Ad)
Miyazaki's 'The Boy and the Heron' is No. 1 at the box office, a first for the Japanese anime master
Much of Kenya falls into darkness in the third nationwide power blackout in 3 months

Freeport-McMoRan (FCX) Stock Price, News & Analysis

$38.15
+1.78 (+4.89%)
(As of 12/8/2023 ET)
Compare
Today's Range
$36.89
$38.41
50-Day Range
$33.23
$39.24
52-Week Range
$32.83
$46.73
Volume
19.55 million shs
Average Volume
10.32 million shs
Market Capitalization
$54.71 billion
P/E Ratio
25.78
Dividend Yield
0.79%
Price Target
$43.38

Freeport-McMoRan MarketRank™ Stock Analysis

Analyst Rating
Hold
2.33 Rating Score
Upside/​Downside
13.7% Upside
$43.38 Price Target
Short Interest
Healthy
1.25% of Float Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
-8.34
Upright™ Environmental Score
News Sentiment
0.67mentions of Freeport-McMoRan in the last 14 days
Based on 18 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
11.72%
From $1.45 to $1.62 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.40 out of 5 stars

Basic Materials Sector

59th out of 171 stocks

Metal Mining Industry

7th out of 15 stocks


FCX stock logo

About Freeport-McMoRan Stock (NYSE:FCX)

Freeport-McMoRan Inc is a publicly traded mining company that operates primarily in North and South America. The company is in the top ten of the world's largest producers of copper, gold and molybdenum, and its operations include mines, smelters and refineries. 

Freeport-McMoRan was founded in 1988 when Freeport Minerals Corporation merged with McMoRan Oil & Gas Company. Both companies had a long history in the mining industry, with Freeport Minerals founded in 1912 and McMoRan Oil & Gas in 1969.

The merger of the two companies created a vertically integrated mining company that could control every aspect of the mining process. The union of the two companies allowed Freeport-McMoRan to become one of the world's largest producers of copper, gold and molybdenum.

Freeport-McMoRan's operations are primarily in North and South America, with mines in Arizona, Colorado, New Mexico and Chile. The company also owns a 48.76% stake in the Grasberg mine in Indonesia, the largest gold mine in the world and the second-largest copper mining operation in the world.

The Grasberg mine is a significant source of revenue for Freeport-McMoRan, accounting for approximately 30% of the company's copper production and 40% of its gold production. The mine has operated since the 1970s and has significantly expanded recently.

Freeport-McMoRan's other major operation is the Cerro Verde mine in Peru, one of the world's largest copper mines. The mine was established as a joint venture between Freeport-McMoRan, Buenaventura and Sumitomo Corporation, with Freeport-McMoRan owning a 53.56% stake.

In addition to its mining operations, Freeport-McMoRan owns and operates smelters and refineries in the United States and South America. This allows the company to process the ore from its mines into finished products, such as copper cathodes and gold bars.

Freeport-McMoRan has a track record of financial performance. The company's revenues have steadily grown over the past decade, driven by increasing demand for copper and other essential metals.

Freeport-McMoRan's strong financial performance has allowed the company to invest in new projects and expand its operations. The company has recently focused on developing new mining projects in North and South America, including the Lone Star copper project in Arizona and the Quebrada Blanca Phase 2 copper project in Chile.

Freeport-McMoRan has a solid commitment to sustainability and responsible mining practices. The company has implemented a comprehensive environmental management system designed to minimize its impact on the environment while supporting the communities in which it operates.

One of the critical components of Freeport-McMoRan's sustainability strategy is its focus on reducing greenhouse gas emissions. The company has set a target of reducing its carbon footprint by 10% by the end of 2023, compared to its 2018 baseline.

Freeport-McMoRan has also implemented a water management program, which aims to minimize the use of fresh water in its operations and promote water conservation. In addition, the company has invested in technologies that allow it to recycle and reuse water, and it has also partnered with local communities to implement water conservation projects.

In addition to its environmental initiatives, Freeport-McMoRan is committed to supporting the communities in which it operates. The company has implemented a social responsibility program, which includes initiatives to improve education, healthcare and economic development in the communities near its mining operations.

Freeport-McMoRan has also committed to diversity, equity and inclusion (DEI). The company has established a DEI council and has implemented training programs to promote a more inclusive workplace. In addition, Freeport-McMoRan has set a target of achieving gender parity in its workforce by 2030.

The company is not without its risks. One of the main risks is the volatility of metal prices. Copper and gold prices can be highly cyclical and are influenced by various factors, including global economic conditions, geopolitical events and supply and demand dynamics. As a result, a significant decline in metal prices could harm Freeport-McMoRan's financial performance.

Another risk to consider is the regulatory environment. Mining companies are subject to various environmental and safety regulations, which can impact their operations and financial performance. As a result, changes in laws, or increased enforcement of existing regulations, could increase the cost of doing business for Freeport-McMoRan.

FCX Stock Price History

FCX Stock News Headlines

Freeport-McMoRan (NYSE:FCX) Trading 4.8% Higher
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Company Calendar

Ex-Dividend for 11/1 Dividend
10/12/2023
Last Earnings
10/19/2023
Dividend Payable
11/01/2023
Today
12/10/2023
Fiscal Year End
12/31/2023
Next Earnings (Estimated)
1/24/2024

Industry, Sector and Symbol

Industry
Metal mining
Sub-Industry
Diversified Metals & Mining
CUSIP
35671D85
Employees
25,600
Year Founded
1987

Price Target and Rating

Average Stock Price Target
$43.38
High Stock Price Target
$55.00
Low Stock Price Target
$29.00
Potential Upside/Downside
+13.7%
Consensus Rating
Hold
Rating Score (0-4)
2.33
Research Coverage
12 Analysts

Profitability

Net Income
$3.47 billion
Pretax Margin
25.60%

Debt

Sales & Book Value

Annual Sales
$22.71 billion
Cash Flow
$4.08 per share
Book Value
$17.39 per share

Miscellaneous

Outstanding Shares
1,433,977,000
Free Float
1,422,792,000
Market Cap
$54.71 billion
Optionable
Optionable
Beta
2.02

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Should I Buy Freeport-McMoRan Stock? FCX Pros and Cons Explained

These insights were generated using artificial intelligence. They are based on proprietary MarketBeat data, news articles, and custom LLM A.I. algorithms. This analysis of Freeport-McMoRan was last updated on Sunday, December 10, 2023 at 6:44 PM.

Pros

Here are some ways that investors could benefit from investing in Freeport-McMoRan Inc.:

  • 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 has a strong track record of successful mining operations.
  • Freeport-McMoRan Inc. has a diversified portfolio of mineral assets, reducing the risk associated with relying on a single resource.
  • Recent developments and advancements in mining technology have improved the efficiency and profitability of Freeport-McMoRan Inc.'s operations.

Cons

Investors should be bearish about investing in Freeport-McMoRan Inc. for these reasons:

  • The mining industry is subject to fluctuations in commodity prices, which can impact the profitability of Freeport-McMoRan Inc.
  • Environmental regulations and concerns surrounding mining operations can pose risks and potential liabilities for the company.
  • Freeport-McMoRan Inc. operates in multiple countries, exposing it to geopolitical risks and regulatory uncertainties.
  • The company's financial performance is influenced by global economic conditions, including demand for metals and minerals.
  • Investing in mining companies carries inherent risks, including operational challenges, accidents, and unforeseen events.














FCX Stock Analysis - Frequently Asked Questions

Should I buy or sell Freeport-McMoRan stock right now?

12 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Freeport-McMoRan in the last twelve months. There are currently 1 sell rating, 6 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" FCX shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in FCX, but not buy additional shares or sell existing shares.
View FCX analyst ratings
or view top-rated stocks.

What is Freeport-McMoRan's stock price target for 2024?

12 analysts have issued 12-month price targets for Freeport-McMoRan's shares. Their FCX share price targets range from $29.00 to $55.00. On average, they predict the company's stock price to reach $43.38 in the next year. This suggests a possible upside of 13.7% from the stock's current price.
View analysts price targets for FCX
or view top-rated stocks among Wall Street analysts.

How have FCX shares performed in 2023?

Freeport-McMoRan's stock was trading at $38.00 at the beginning of the year. Since then, FCX stock has increased by 0.4% and is now trading at $38.15.
View the best growth stocks for 2023 here
.

When is Freeport-McMoRan's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, January 24th 2024.
View our FCX earnings forecast
.

How were Freeport-McMoRan's earnings last quarter?

Freeport-McMoRan Inc. (NYSE:FCX) released its quarterly earnings results on Thursday, October, 19th. The natural resource company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.34 by $0.05. The natural resource company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.43 billion. Freeport-McMoRan had a trailing twelve-month return on equity of 9.98% and a net margin of 9.50%. The company's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 EPS.
Read the conference call transcript
.

How often does Freeport-McMoRan pay dividends? What is the dividend yield for Freeport-McMoRan?

Freeport-McMoRan declared a quarterly dividend on Wednesday, September 20th. Investors of record on Friday, October 13th will be given a dividend of $0.15 per share on Wednesday, November 1st. This represents a $0.60 annualized dividend and a yield of 1.57%. The ex-dividend date is Thursday, October 12th.
Read our dividend analysis for FCX
.

Is Freeport-McMoRan a good dividend stock?

Freeport-McMoRan (NYSE:FCX) pays an annual dividend of $0.30 per share and currently has a dividend yield of 0.83%. The dividend payout ratio is 20.27%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, FCX will have a dividend payout ratio of 18.52% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for FCX.

What is Richard C. Adkerson's approval rating as Freeport-McMoRan's CEO?

233 employees have rated Freeport-McMoRan Chief Executive Officer Richard C. Adkerson on Glassdoor.com. Richard C. Adkerson has an approval rating of 87% among the company's employees.

What other stocks do shareholders of Freeport-McMoRan own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Freeport-McMoRan investors own include Micron Technology (MU), Bank of America (BAC), Intel (INTC), General Electric (GE), AT&T (T), NVIDIA (NVDA), Alibaba Group (BABA), Apollo Commercial Real Estate Finance (ARI), Cisco Systems (CSCO) and Gilead Sciences (GILD).

Who are Freeport-McMoRan's major shareholders?

Freeport-McMoRan's stock is owned by a number of retail and institutional investors. Top institutional investors include FMR LLC (5.95%), Bank of New York Mellon Corp (1.51%), Northern Trust Corp (1.24%), Morgan Stanley (1.19%), Clearbridge Investments LLC (1.03%) and Ameriprise Financial Inc. (0.91%). Insiders that own company stock include C Donald Whitmire Jr, Douglas N Currault II, Dustan E Mccoy, Ellie L Mikes, Gerald J Ford, Gerald J Ford, Hugh Grant, Kathleen L Quirk, Richard C Adkerson, Ryan Michael Lance and Sara Grootwassink Lewis.
View institutional ownership trends
.

How do I buy shares of Freeport-McMoRan?

Shares of FCX stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

Does Freeport-McMoRan have any subsidiaries?
The following companies are subsidiares of Freeport-McMoRan: Climax Molybdenum Company, Cyprus Amax Minerals Company, Cyprus Climax Metals Company, Cyprus Metals Company, Freeport Minerals Corporation, Freeport-McMoRan Bagdad Inc., Freeport-McMoRan Exploration Corporation, Freeport-McMoRan Morenci Inc., PT Freeport Indonesia, Plains Exploration & Production, and Sociedad Minera Cerro Verde S.A..
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This page (NYSE:FCX) was last updated on 12/10/2023 by MarketBeat.com Staff

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