Zacks Research Issues Pessimistic Outlook for FCX Earnings

Freeport-McMoRan Inc. (NYSE:FCX) – Analysts at Zacks Research decreased their Q1 2026 earnings estimates for shares of Freeport-McMoRan in a research note issued on Wednesday, November 5th. Zacks Research analyst Team now forecasts that the natural resource company will post earnings per share of $0.38 for the quarter, down from their prior forecast of $0.43. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $1.68 per share. Zacks Research also issued estimates for Freeport-McMoRan’s Q2 2026 earnings at $0.44 EPS, FY2026 earnings at $1.75 EPS and Q2 2027 earnings at $0.69 EPS.

FCX has been the subject of several other reports. Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Tuesday, September 30th. BMO Capital Markets cut their price target on shares of Freeport-McMoRan from $54.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, September 24th. CICC Research dropped their target price on shares of Freeport-McMoRan from $51.60 to $42.30 and set an “outperform” rating on the stock in a report on Friday, September 26th. Wells Fargo & Company raised shares of Freeport-McMoRan to a “strong-buy” rating in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average price target of $47.01.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $40.17 on Thursday. Freeport-McMoRan has a 1 year low of $27.66 and a 1 year high of $49.21. The firm has a 50 day moving average price of $42.30 and a 200 day moving average price of $41.55. The company has a market cap of $57.68 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 0.94 and a beta of 1.58. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.19 and a current ratio of 2.45.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.09. Freeport-McMoRan had a net margin of 7.97% and a return on equity of 7.84%. The firm had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $6.74 billion. During the same period last year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis.

Institutional Investors Weigh In On Freeport-McMoRan

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Freeport-McMoRan by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 126,983,947 shares of the natural resource company’s stock valued at $5,504,754,000 after purchasing an additional 1,941,662 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Freeport-McMoRan by 3.2% in the second quarter. Fisher Asset Management LLC now owns 62,358,715 shares of the natural resource company’s stock valued at $2,703,250,000 after buying an additional 1,926,493 shares during the last quarter. State Street Corp raised its holdings in Freeport-McMoRan by 0.5% during the 2nd quarter. State Street Corp now owns 61,787,174 shares of the natural resource company’s stock worth $2,678,474,000 after purchasing an additional 320,514 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Freeport-McMoRan by 17.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 37,547,489 shares of the natural resource company’s stock worth $1,421,549,000 after purchasing an additional 5,661,958 shares during the last quarter. Finally, Amundi raised its holdings in Freeport-McMoRan by 28.1% during the 1st quarter. Amundi now owns 27,635,497 shares of the natural resource company’s stock worth $1,046,280,000 after purchasing an additional 6,054,537 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Wednesday, October 15th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, October 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.5%. Freeport-McMoRan’s payout ratio is currently 21.13%.

About Freeport-McMoRan

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's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.