Freeport-McMoRan (NYSE:FCX) Price Target Raised to $75.00

Freeport-McMoRan (NYSE:FCX) had its price target lifted by Morgan Stanley from $70.00 to $75.00 in a research note issued to investors on Wednesday morning, Marketbeat reports. They currently have an equal weight rating on the natural resource company’s stock.

Several other research firms have also issued reports on FCX. Wells Fargo & Company boosted their target price on Freeport-McMoRan from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday. Scotiabank upped their price target on Freeport-McMoRan from $67.00 to $77.00 and gave the company a “sector outperform” rating in a research note on Monday, June 15th. Bank of America increased their price target on shares of Freeport-McMoRan from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. The Goldman Sachs Group reissued a “buy” rating on shares of Freeport-McMoRan in a research note on Thursday, September 10th. Finally, Wall Street Zen downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.22.

Freeport-McMoRan Stock Up 3.6%

NYSE:FCX opened at $73.67 on Wednesday. Freeport-McMoRan has a 12-month low of $38.54 and a 12-month high of $80.24. The company has a quick ratio of 0.92, a current ratio of 2.07 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $105.80 billion, a P/E ratio of 36.29, a P/E/G ratio of 0.68 and a beta of 1.39. The stock’s fifty day simple moving average is $71.78 and its 200-day simple moving average is $66.10.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, July 23rd. The natural resource company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.12. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%. The business had revenue of $7.03 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was down 7.3% compared to the same quarter last year. Equities research analysts expect that Freeport-McMoRan will post 2.86 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

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

Insider Activity at Freeport-McMoRan

In related news, CAO Ellie Mikes sold 4,773 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $70.00, for a total transaction of $334,110.00. Following the sale, the chief accounting officer directly owned 36,000 shares in the company, valued at $2,520,000. This trade represents a 11.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lydia Kennard sold 3,798 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $79.11, for a total transaction of $300,459.78. Following the completion of the transaction, the director directly owned 122,702 shares of the company’s stock, valued at approximately $9,706,955.22. The trade was a 3.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 110,398 shares of company stock valued at $8,387,271. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new stake in Freeport-McMoRan in the 4th quarter valued at approximately $25,000. NBH Bank acquired a new position in Freeport-McMoRan during the 2nd quarter worth approximately $28,000. Steph & Co. boosted its position in Freeport-McMoRan by 43.7% during the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock worth $29,000 after acquiring an additional 150 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Freeport-McMoRan during the 1st quarter worth approximately $29,000. Finally, SHP Wealth Management bought a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $30,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Freeport-McMoRan

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

• Positive Sentiment: UBS raised its price target to $88 from $77 and maintained a Buy rating. The higher valuation target signals increased confidence in copper fundamentals and Freeport-McMoRan’s operating outlook. UBS Adjusts Price Target on Freeport-McMoRan to $88 From $77, Maintains Buy Rating
• Positive Sentiment: JPMorgan raised its price target for FCX, while Morgan Stanley said the stock is expected to rise. These positive recommendations reinforce the bullish analyst sentiment surrounding the copper producer. Freeport-McMoRan Stock Gets Price Target Bump from JPMorgan Chase & Co. Freeport-McMoRan Stock Price Expected to Rise, Morgan Stanley Analyst Says
• Neutral Sentiment: Copper remains the key investment driver for Freeport-McMoRan. The company’s earnings are highly sensitive to copper prices and demand, making long-term trends such as grid investment, electrification and industrial growth important to FCX’s valuation and its position in the S&P 500. Why Does Copper Matter for Freeport-McMoRan in S&P 500?
• Negative Sentiment: Zacks Research reduced EPS estimates across multiple periods. Forecasts were lowered for Q3 2026 to $0.61 from $0.63, FY2026 to $2.50 from $2.52, FY2027 to $3.47 from $3.54, and FY2028 to $3.41 from $3.52. The revisions suggest some pressure on expected production, copper pricing or costs, though the cuts were generally modest.
• Negative Sentiment: FCX recently underperformed the broader market in the latest session. That weakness may reflect profit-taking or concern about the lower earnings forecasts, despite the more constructive analyst price targets. Freeport-McMoRan Suffers a Larger Drop Than the General Market

About Freeport-McMoRan

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.