Freeport-McMoRan (NYSE:FCX) Shares Gap Down on Disappointing Earnings

Freeport-McMoRan Inc. (NYSE:FCX)’s share price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $70.36, but opened at $62.27. Freeport-McMoRan shares last traded at $61.9340, with a volume of 7,154,592 shares changing hands.

The natural resource company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.09). The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.40 billion. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.Freeport-McMoRan’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $0.24 EPS.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be given a $0.075 dividend. The ex-dividend date is Wednesday, April 15th. This represents a $0.30 annualized dividend and a yield of 0.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 19.87%.

More Freeport-McMoRan News

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

• Positive Sentiment: Higher copper prices and commodity tailwinds lifted quarterly profitability metrics and helped reported profit metrics despite operational issues; this supports the bull case for FCX. Read More.
• Positive Sentiment: Analyst support is rising: Deutsche Bank raised its price target (to $72) and maintained a Buy stance, and other outlets highlight investor interest in FCX as a recovery play — these upgrades help underpin the stock. Read More.
• Positive Sentiment: Market-cap milestone — coverage notes Freeport joining the ~$100B mining company club, reinforcing narrative of scale and investor interest. Read More.
• Neutral Sentiment: The company posted its full Q1 financial and operating release and slide deck on its IR site, providing details for investors to parse (revenue up ~8.8% y/y). Read More.
• Neutral Sentiment: Multiple comparative and feature pieces (FCX vs. BHP, beginner-stock lists) circulate — useful for context but less likely to move the stock intraday. Read More.
• Negative Sentiment: Reported EPS of $0.57 missed analysts’ consensus (~$0.66), which is an immediate negative catalyst that can pressure the share price despite higher revenues. Read More.
• Negative Sentiment: Production fell — WSJ reports lower copper and gold output tied to last year’s fatal mudslide at the Indonesian Grasberg operation, a clear operational risk that reduces near-term volumes and investor confidence. Read More.
• Negative Sentiment: Scotiabank trimmed FY2026–FY2027 EPS estimates slightly, signaling some analyst caution on near-term earnings visibility. Small revisions can weigh on sentiment when paired with an EPS miss and operational disruptions. Read More.

Analyst Upgrades and Downgrades

FCX has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price objective on Freeport-McMoRan from $68.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Morgan Stanley set a $70.00 price target on Freeport-McMoRan in a report on Tuesday, January 27th. Bank of America upped their price target on Freeport-McMoRan from $68.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Wall Street Zen downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Raymond James Financial boosted their price objective on Freeport-McMoRan from $53.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average target price of $66.26.

Insider Activity

In related news, CAO Ellie L. Mikes sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $62.03, for a total value of $682,330.00. Following the transaction, the chief accounting officer directly owned 40,773 shares of the company’s stock, valued at approximately $2,529,149.19. The trade was a 21.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Douglas N. Currault II sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $64.52, for a total value of $4,839,000.00. Following the completion of the transaction, the executive vice president owned 219,181 shares of the company’s stock, valued at $14,141,558.12. The trade was a 25.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 565,145 shares of company stock valued at $35,839,918 in the last three months. 0.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Freeport-McMoRan

Hedge funds have recently modified their holdings of the stock. Steph & Co. increased its holdings in Freeport-McMoRan by 43.7% in the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock valued at $29,000 after acquiring an additional 150 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Freeport-McMoRan during the 4th quarter valued at about $25,000. Kemnay Advisory Services Inc. bought a new position in shares of Freeport-McMoRan during the 4th quarter valued at about $29,000. SHP Wealth Management purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at about $30,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in shares of Freeport-McMoRan during the third quarter valued at about $25,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 11.7%

The company has a quick ratio of 1.05, a current ratio of 2.29 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average price of $62.51 and a 200-day moving average price of $53.58. The stock has a market capitalization of $89.25 billion, a P/E ratio of 41.10, a PEG ratio of 0.78 and a beta of 1.48.

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.