Scotiabank Issues Positive Forecast for Freeport-McMoRan (NYSE:FCX) Stock Price

Freeport-McMoRan (NYSE:FCX) had its price objective boosted by Scotiabank from $70.00 to $72.00 in a research note released on Thursday, Marketbeat.com reports. Scotiabank currently has an outperform rating on the natural resource company’s stock.

Several other research analysts also recently commented on FCX. Raymond James Financial boosted their target price on Freeport-McMoRan from $53.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Jefferies Financial Group increased their price objective on shares of Freeport-McMoRan from $68.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group boosted their target price on shares of Freeport-McMoRan from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Wells Fargo & Company increased their price target on Freeport-McMoRan from $55.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Finally, Clarkson Capital raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $60.73.

Freeport-McMoRan Price Performance

FCX traded down $0.17 during trading on Thursday, hitting $62.40. 5,138,595 shares of the stock traded hands, compared to its average volume of 22,087,572. The business has a 50 day moving average price of $57.24 and a 200 day moving average price of $47.42. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.29 and a quick ratio of 1.05. Freeport-McMoRan has a twelve month low of $27.66 and a twelve month high of $69.44. The company has a market cap of $89.60 billion, a price-to-earnings ratio of 41.27, a PEG ratio of 0.68 and a beta of 1.47.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.19. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The company had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter last year, the company posted $0.31 EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts forecast that Freeport-McMoRan will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Thursday, January 15th were given a dividend of $0.075 per share. The ex-dividend date was Thursday, January 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. Freeport-McMoRan’s dividend payout ratio is presently 19.87%.

Insiders Place Their Bets

In other news, EVP Douglas N. Currault II sold 75,000 shares of Freeport-McMoRan stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $64.52, for a total value of $4,839,000.00. Following the completion of the sale, the executive vice president owned 219,181 shares in the company, valued at $14,141,558.12. The trade was a 25.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Richard C. Adkerson sold 152,960 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $64.65, for a total transaction of $9,888,864.00. Following the transaction, the chairman directly owned 3,356,159 shares in the company, valued at approximately $216,975,679.35. This represents a 4.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 573,486 shares of company stock valued at $35,791,937 in the last 90 days. Company insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Freeport-McMoRan

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew 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 valued at $6,619,611,000 after buying an additional 1,572,769 shares during the period. Fisher Asset Management LLC grew its position in shares of Freeport-McMoRan by 1.0% during the 4th quarter. Fisher Asset Management LLC now owns 63,880,757 shares of the natural resource company’s stock valued at $3,244,504,000 after acquiring an additional 622,343 shares during the period. State Street Corp grew its position in shares of Freeport-McMoRan by 0.6% during the 4th quarter. State Street Corp now owns 62,873,136 shares of the natural resource company’s stock valued at $3,193,327,000 after acquiring an additional 395,226 shares during the period. Franklin Resources Inc. increased its stake in shares of Freeport-McMoRan by 31.2% during the 4th quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company’s stock worth $1,897,202,000 after purchasing an additional 8,891,743 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Freeport-McMoRan by 190.9% in the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock worth $1,431,326,000 after purchasing an additional 23,950,557 shares during the period. 80.77% of the stock is owned by institutional investors.

Key Freeport-McMoRan News

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

• Positive Sentiment: MOU for life‑of‑resource extension at Grasberg reduces regulatory/tenure risk and secures long‑term access to one of the world’s largest copper/gold assets — this materially improves Freeport’s long‑term production and cash‑flow outlook. FCX Announces Agreement for Life of Resource Extension of Operating Rights in Grasberg Minerals District
• Positive Sentiment: Jefferies raised its price target on FCX to $76 and kept a Buy rating — a prominent broker upgrade that can attract investor flows and supports upside vs. recent prices. Jefferies adjusts Freeport McMoran PT to $76 from $68, maintains buy rating
• Positive Sentiment: Broader copper bull market and “wires not chips” rotation into mining is supporting sector flows; analysts flag rising infrastructure and AI‑related copper demand that should benefit major producers like Freeport. Forget Chips, Buy Wires: BHP Hits Highs as Copper Overtakes Iron
• Neutral Sentiment: Coverage and valuation narratives are shifting as markets bake in extended Grasberg life and higher copper assumptions — some analysts are re‑rating the story while others caution the stock has already had a strong run. How The Narrative Around Freeport McMoRan (FCX) Is Shifting With New Copper And Grasberg Assumptions
• Neutral Sentiment: Industry analysts (Zacks and others) include FCX among non‑ferrous miners to watch as demand improves — supportive backdrop but not unique to Freeport. 4 Non-Ferrous Metal Mining Stocks to Watch
• Negative Sentiment: Insider selling: CFO Maree Robertson and CAO Ellie Mikes disclosed sizable stock sales (recent SEC filings) — markets sometimes view executive disposals as a negative signal even when they’re for diversification or liquidity. SEC filing — CFO sale SEC filing — CAO sale
• Negative Sentiment: Operational risk remains: the 2025 Grasberg mudflow reduced near‑term output and recovery timelines are uncertain — investors should watch actual production updates and timing for ramp‑up before assuming full benefit from higher copper prices. Freeport signs agreement with Indonesia to extend Grasberg mining rights through 2041

About Freeport-McMoRan

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.