Freeport-McMoRan (NYSE:FCX) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Freeport-McMoRan Inc. (NYSE:FCX) shares passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $65.24 and traded as low as $61.43. Freeport-McMoRan shares last traded at $62.44, with a volume of 17,930,991 shares changing hands.

Key Freeport-McMoRan News

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

• Positive Sentiment: Freeport-McMoRan’s third-quarter results exceeded expectations, with earnings per share of roughly $0.81–$0.88 on $7.55 billion in revenue, supported by stronger copper economics and year-over-year revenue growth. The company’s Grasberg recovery is also advancing, which could improve production and cash flow over time. Freeport-McMoRan Q3 2026 Earnings
• Positive Sentiment: Wells Fargo reportedly maintained a Buy view on FCX, while UBS retained its Buy rating despite reducing its price target to $85 from $88. The targets remain above the recent trading level, indicating analysts still see potential upside if copper prices and Grasberg operations remain favorable. Freeport-McMoRan Receives a Buy from Wells Fargo UBS Adjusts Freeport-McMoRan Price Target
• Neutral Sentiment: FCX was included among non-ferrous mining stocks worth watching despite a weak near-term industry outlook. The list highlights the company’s growth potential but also underscores the challenging backdrop for metal producers. 5 Non-Ferrous Metal Mining Stocks to Watch
• Negative Sentiment: Freeport reduced its copper-sales outlook even as Grasberg recovery progresses. That combination raises concerns about near-term production, shipment timing and the pace at which the mine will contribute to results. Freeport Trims Copper Sales Outlook
• Negative Sentiment: UBS and Wells Fargo lowered their expectations for FCX’s share price, adding pressure after the stock’s strong run. A separate analysis argued that the anticipated Grasberg recovery may already be reflected in the valuation, with a relatively high earnings multiple leaving less room for disappointment. UBS Forecast for Freeport-McMoRan Freeport-McMoRan Q3 Analysis

Analyst Ratings Changes

Several research firms recently issued reports on FCX. Bank of America upped their price objective on Freeport-McMoRan from $74.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Erste Group Bank began coverage on Freeport-McMoRan in a report on Thursday, August 27th. They issued a “buy” rating on the stock. Wells Fargo & Company reduced their price target on shares of Freeport-McMoRan from $87.00 to $79.00 and set an “overweight” rating for the company in a research report on Wednesday. Scotiabank reduced their target price on Freeport-McMoRan from $80.00 to $78.00 and set a “sector outperform” rating on the stock in a research note on Wednesday. Finally, Stifel Nicolaus boosted their price target on Freeport-McMoRan from $76.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.67.

Freeport-McMoRan Price Performance

The company has a current ratio of 2.02, a quick ratio of 0.92 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $89.67 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 0.57 and a beta of 1.39. The stock has a 50-day moving average price of $71.59 and a 200 day moving average price of $65.24.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Tuesday, October 27th. The natural resource company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. Freeport-McMoRan had a net margin of 13.03% and a return on equity of 12.09%. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.36 billion. During the same quarter last year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities research analysts expect that Freeport-McMoRan Inc. will post 3.04 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be issued a $0.0750 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is 12.61%.

Insider Buying and Selling at Freeport-McMoRan

In related news, Director Lydia Kennard sold 3,798 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $79.11, for a total transaction of $300,459.78. Following the transaction, the director directly owned 122,702 shares in the company, valued at $9,706,955.22. The trade was a 3.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Douglas Currault, II sold 80,000 shares of Freeport-McMoRan stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $78.56, for a total value of $6,284,800.00. Following the completion of the transaction, the executive vice president owned 211,016 shares of the company’s stock, valued at approximately $16,577,416.96. The trade was a 27.49% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 102,848 shares of company stock worth $7,911,621. Company insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Freeport-McMoRan

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pathway Financial Advisers LLC bought a new stake in Freeport-McMoRan during the 3rd quarter valued at $208,000. Chicago Partners Investment Group LLC boosted its position in shares of Freeport-McMoRan by 17.6% in the third quarter. Chicago Partners Investment Group LLC now owns 40,863 shares of the natural resource company’s stock valued at $2,663,000 after acquiring an additional 6,127 shares during the period. Ascent Group LLC raised its position in Freeport-McMoRan by 10.5% during the 3rd quarter. Ascent Group LLC now owns 7,489 shares of the natural resource company’s stock worth $524,000 after purchasing an additional 712 shares during the last quarter. Caldwell Trust Co boosted its holdings in Freeport-McMoRan by 430.2% during the 3rd quarter. Caldwell Trust Co now owns 5,435 shares of the natural resource company’s stock worth $380,000 after acquiring an additional 4,410 shares during the last quarter. Finally, JCIC Asset Management Inc. boosted its holdings in Freeport-McMoRan by 59.1% in the 3rd quarter. JCIC Asset Management Inc. now owns 101,214 shares of the natural resource company’s stock valued at $7,085,000 after purchasing an additional 37,606 shares during the period. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc (NYSE: FCX) is a global mining company primarily engaged in the exploration, development, and production of copper. Copper is used extensively in electrical wiring, construction, transportation, renewable energy systems, and other industrial applications. The company also produces gold and molybdenum, a metal used in steelmaking and other industrial processes, as well as certain other byproducts.

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