Freeport-McMoRan Inc. (NYSE:FCX) Stock Has Average Target Price of $76.22 According to Analysts

Freeport-McMoRan Inc. (NYSE:FCX) has earned a consensus rating of “Moderate Buy” from the twenty-five ratings firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, twenty have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $76.22.

Several equities analysts have issued reports on FCX shares. UBS Group upped their price objective on shares of Freeport-McMoRan from $77.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, October 8th. Wall Street Zen downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of Freeport-McMoRan from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Sanford C. Bernstein lowered their price target on Freeport-McMoRan from $50.00 to $47.00 and set a “market perform” rating on the stock in a report on Wednesday, September 9th. Finally, BMO Capital Markets lifted their target price on Freeport-McMoRan from $78.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, September 29th.

Insider Activity at Freeport-McMoRan

In related news, CAO Stephen T. Higgins sold 14,277 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $69.50, for a total value of $992,251.50. Following the sale, the chief accounting officer owned 54,618 shares in the company, valued at $3,795,951. This represents a 20.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lydia H. Kennard sold 3,798 shares of Freeport-McMoRan stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $79.11, for a total value of $300,459.78. Following the transaction, the director directly owned 122,702 shares of the company’s stock, valued at approximately $9,706,955.22. This represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 110,398 shares of company stock valued at $8,387,271. Company insiders own 0.73% of the company’s stock.

Institutional Trading of Freeport-McMoRan

Several large investors have recently modified their holdings of the business. State Street Corp boosted its holdings in Freeport-McMoRan by 3.6% in the 2nd quarter. State Street Corp now owns 66,485,424 shares of the natural resource company’s stock worth $4,181,268,000 after acquiring an additional 2,300,416 shares during the period. Bank of America Corp DE grew its stake in shares of Freeport-McMoRan by 20.0% during the first quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company’s stock valued at $2,489,069,000 after acquiring an additional 7,044,775 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Freeport-McMoRan by 98.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 19,973,108 shares of the natural resource company’s stock worth $1,014,434,000 after acquiring an additional 9,924,573 shares in the last quarter. Wellington Management Group LLP grew its stake in Freeport-McMoRan by 13.8% during the 2nd quarter. Wellington Management Group LLP now owns 14,918,066 shares of the natural resource company’s stock valued at $938,197,000 after purchasing an additional 1,810,698 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Freeport-McMoRan by 28.9% during the 4th quarter. Victory Capital Management Inc. now owns 17,366,596 shares of the natural resource company’s stock valued at $882,050,000 after purchasing an additional 3,894,872 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Freeport-McMoRan

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

• Positive Sentiment: Higher earnings forecasts: Scotiabank raised its FY2026 EPS estimate to $3.35 from $3.06 and its FY2027 estimate to $2.86 from $2.62. Erste Group also increased its FY2026 forecast to $3.10 and FY2027 forecast to $4.32; Erste maintains a “Buy” rating. The revisions suggest analysts see potential for stronger copper prices, production, or profitability. MarketBeat analyst estimate updates
• Positive Sentiment: Potentially tighter copper supply: A halt at Grasberg could restrict copper production and tighten global supply, potentially supporting copper prices and Freeport-McMoRan’s realized pricing. However, the benefit depends on how long the disruption lasts and the company’s ability to restore operations. Does the Grasberg Halt Tighten Copper Supply?
• Neutral Sentiment: Dividend remains unchanged: Freeport-McMoRan is scheduled to pay a quarterly dividend of $0.07 on November 2. The payment supports shareholder returns but is unlikely to be a major catalyst given its modest yield. Freeport-McMoRan quarterly dividend
• Negative Sentiment: Technical momentum is fading: Commentary that FCX’s rally appears tired and that consolidation may be likely is encouraging investors to lock in gains after the stock’s strong run toward its 52-week high. Freeport-McMoRan rally looks tired
• Negative Sentiment: Operational uncertainty and broader-market weakness: The Grasberg halt raises concerns about production, costs, and the timing of any recovery. FCX also underperformed the broader market in the latest session, indicating risk reduction in a volatile, high-beta mining stock. Freeport-McMoRan falls more steeply than the broader market

Freeport-McMoRan Stock Down 3.8%

Shares of NYSE FCX opened at $69.65 on Friday. The stock has a market cap of $100.01 billion, a P/E ratio of 34.31, a PEG ratio of 0.68 and a beta of 1.39. The business’s fifty day simple moving average is $72.09 and its 200-day simple moving average is $66.50. Freeport-McMoRan has a 12-month low of $38.54 and a 12-month high of $80.24. The company has a current ratio of 2.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, July 23rd. The natural resource company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.62 by $0.12. The company had revenue of $7.03 billion during the quarter, compared to analysts’ expectations of $6.62 billion. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. The firm’s revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 EPS. As a group, equities analysts predict that Freeport-McMoRan will post 2.90 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be given a $0.0750 dividend. The ex-dividend date is Thursday, October 15th. This represents a $0.30 annualized dividend and a yield of 0.4%. Freeport-McMoRan’s dividend payout ratio is presently 14.78%.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc (NYSE: FCX) is a leading international mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Copper is its principal product and is used in electrical systems, construction, transportation, renewable energy infrastructure and other industrial applications. The company also produces copper cathodes and concentrates, gold, molybdenum products and certain quantities of silver and other byproducts.

Freeport-McMoRan operates a portfolio of mining and processing assets in North America, South America and Indonesia.