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S&P 500   4,981.80
DOW   38,612.24
QQQ   425.61
Palo Alto Networks, Keysight fall; Garmin, Toll Brothers rise, Wednesday, 2/21/2024
NEW: Federal Reserve launches bank account overhaul (Ad)
Applied Materials stock is Ray Dalio's favorite in this new cycle
Palo Alto Networks aims at cyber security leadership
NEW: Federal Reserve launches bank account overhaul (Ad)
Spotify sounding better to analysts as company tunes into profits
3 Reasons the Capital One-Discover merger is a big deal
66,000% upside on tiny biotech? (Ad)
How major US stock indexes fared Wednesday, 2/21/2024
Bears covered shorts on this ETF, 3 stocks to pop on the shift
S&P 500   4,981.80
DOW   38,612.24
QQQ   425.61
Palo Alto Networks, Keysight fall; Garmin, Toll Brothers rise, Wednesday, 2/21/2024
NEW: Federal Reserve launches bank account overhaul (Ad)
Applied Materials stock is Ray Dalio's favorite in this new cycle
Palo Alto Networks aims at cyber security leadership
NEW: Federal Reserve launches bank account overhaul (Ad)
Spotify sounding better to analysts as company tunes into profits
3 Reasons the Capital One-Discover merger is a big deal
66,000% upside on tiny biotech? (Ad)
How major US stock indexes fared Wednesday, 2/21/2024
Bears covered shorts on this ETF, 3 stocks to pop on the shift
S&P 500   4,981.80
DOW   38,612.24
QQQ   425.61
Palo Alto Networks, Keysight fall; Garmin, Toll Brothers rise, Wednesday, 2/21/2024
NEW: Federal Reserve launches bank account overhaul (Ad)
Applied Materials stock is Ray Dalio's favorite in this new cycle
Palo Alto Networks aims at cyber security leadership
NEW: Federal Reserve launches bank account overhaul (Ad)
Spotify sounding better to analysts as company tunes into profits
3 Reasons the Capital One-Discover merger is a big deal
66,000% upside on tiny biotech? (Ad)
How major US stock indexes fared Wednesday, 2/21/2024
Bears covered shorts on this ETF, 3 stocks to pop on the shift
NYSE:FCX

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

$38.86
+0.72 (+1.89%)
(As of 02/21/2024 ET)
Today's Range
$38.40
$39.01
50-Day Range
$36.67
$43.20
52-Week Range
$32.83
$44.70
Volume
11.26 million shs
Average Volume
12.58 million shs
Market Capitalization
$55.72 billion
P/E Ratio
30.60
Dividend Yield
0.77%
Price Target
$44.95

Freeport-McMoRan MarketRank™ Stock Analysis

Analyst Rating
Hold
2.45 Rating Score
Upside/​Downside
15.7% Upside
$44.95 Price Target
Short Interest
Healthy
1.02% of Float Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
-8.34
Upright™ Environmental Score
News Sentiment
0.64mentions of Freeport-McMoRan in the last 14 days
Based on 14 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
60.27%
From $1.46 to $2.34 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.64 out of 5 stars

Basic Materials Sector

15th out of 170 stocks

Metal Mining Industry

1st out of 18 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: Electric Future Ahead
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Freeport-McMoRan: Where Copper Meets Opportunity
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FCX Feb 2024 43.500 call
Freeport-McMoRan Inc. (FCX)
Freeport-McMoRan sets compensation for incoming CEO
Freeport-McMoRan Announces Leadership Shift and Pay Adjustments
Freeport-McMoRan Inc.: Raising target price
Freeport-McMoRan Appoints Kathleen Quirk As President And CEO
Freeport-McMoRan Inc. (FPMB.DE)
Company News for Jan 25, 2024
See More Headlines
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Company Calendar

Ex-Dividend for 2/1 Dividend
1/11/2024
Last Earnings
1/24/2024
Dividend Payable
2/01/2024
Today
2/22/2024
Next Earnings (Estimated)
4/19/2024
Fiscal Year End
12/31/2024

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
$44.95
High Stock Price Target
$55.00
Low Stock Price Target
$29.00
Potential Upside/Downside
+15.7%
Consensus Rating
Hold
Rating Score (0-4)
2.45
Research Coverage
11 Analysts

Profitability

Net Income
$1.85 billion
Pretax Margin
26.28%

Debt

Sales & Book Value

Annual Sales
$22.86 billion
Cash Flow
$2.99 per share
Book Value
$19.05 per share

Miscellaneous

Outstanding Shares
1,433,980,000
Free Float
1,422,792,000
Market Cap
$55.72 billion
Optionable
Optionable
Beta
2.06

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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 Tuesday, February 20, 2024 at 11:24 PM.

Pros

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

  • Freeport-McMoRan Inc. has shown a positive quarterly revenue growth compared to the same quarter last year, indicating potential financial stability and growth.
  • The company recently declared a quarterly dividend, offering investors a steady income stream with a yield of 1.55%.
  • Analysts have upgraded Freeport-McMoRan's rating to "outperform" and "buy," suggesting confidence in the company's future performance.
  • Freeport-McMoRan's assets include valuable mineral properties in various regions, providing diversification and exposure to different markets.
  • Despite some fluctuations, Freeport-McMoRan's stock price has shown resilience, reflecting investor confidence in the company's long-term prospects.

Cons

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

  • Freeport-McMoRan's payout ratio is relatively high at 23.62%, which may raise concerns about the sustainability of its dividend payments.
  • One analyst has rated the stock with a sell rating, indicating some skepticism about the company's future performance.
  • Market conditions for commodities, especially metals like copper and gold, can be volatile, impacting Freeport-McMoRan's profitability.
  • While the company has shown growth, it operates in a cyclical industry, subject to fluctuations in demand and prices of commodities.
  • Investing in mining companies like Freeport-McMoRan carries inherent risks related to operational challenges, regulatory changes, and environmental concerns.














FCX Stock Analysis - Frequently Asked Questions

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

11 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Freeport-McMoRan in the last year. There are currently 1 sell rating, 4 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street 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?

11 Wall Street research analysts have issued 1 year price objectives 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 $44.95 in the next twelve months. This suggests a possible upside of 15.7% 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 2024?

Freeport-McMoRan's stock was trading at $42.57 at the start of the year. Since then, FCX shares have decreased by 8.7% and is now trading at $38.86.
View the best growth stocks for 2024 here
.

Are investors shorting Freeport-McMoRan?

Freeport-McMoRan saw a increase in short interest in January. As of January 15th, there was short interest totaling 14,430,000 shares, an increase of 7.8% from the December 31st total of 13,390,000 shares. Based on an average daily trading volume, of 11,670,000 shares, the days-to-cover ratio is presently 1.2 days. Approximately 1.0% of the shares of the stock are short sold.
View Freeport-McMoRan's Short Interest
.

When is Freeport-McMoRan's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Friday, April 19th 2024.
View our FCX earnings forecast
.

How were Freeport-McMoRan's earnings last quarter?

Freeport-McMoRan Inc. (NYSE:FCX) announced its quarterly earnings results on Wednesday, January, 24th. The natural resource company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.04. The natural resource company earned $5.91 billion during the quarter, compared to analyst estimates of $5.85 billion. Freeport-McMoRan had a trailing twelve-month return on equity of 8.41% and a net margin of 8.09%. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.52 earnings per share.
Read the conference call transcript
.

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

Freeport-McMoRan announced a quarterly dividend on Wednesday, December 20th. Shareholders of record on Friday, January 12th will be given a dividend of $0.15 per share on Thursday, February 1st. This represents a $0.60 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, January 11th.
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 0.77%. The dividend payout ratio is 23.62%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, FCX will have a dividend payout ratio of 12.82% 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 variety of institutional and retail investors. Top institutional investors include Vanguard Group Inc. (8.33%), Capital Research Global Investors (4.17%), Fisher Asset Management LLC (3.89%), Price T Rowe Associates Inc. MD (2.41%), Northern Trust Corp (1.18%) and Putnam Investments LLC (1.16%). 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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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..
Read More
This page (NYSE:FCX) was last updated on 2/22/2024 by MarketBeat.com Staff