Freeport-McMoRan (NYSE:FCX) Trading Down 2.8% – What’s Next?

Freeport-McMoRan Inc. (NYSE:FCX)’s share price traded down 2.8% on Thursday . The company traded as low as $58.24 and last traded at $58.89. 25,554,422 shares traded hands during mid-day trading, an increase of 16% from the average session volume of 22,075,488 shares. The stock had previously closed at $60.58.

Freeport-McMoRan News Roundup

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

• Positive Sentiment: Q4 results beat consensus on both EPS and revenue, helped by higher copper and gold prices that lifted net income versus a year ago. This showed earnings leverage to metal prices. Freeport beats quarterly profit estimates
• Positive Sentiment: HSBC raised its price target to $69 and kept a buy rating, reflecting renewed analyst optimism that could support longer‑term sentiment. HSBC adjusts price target
• Positive Sentiment: Macro tailwinds for miners — gold and copper prices remain strong (gold recently hit fresh highs), which supports Freeport’s commodity-driven revenue and valuation upside for miners. What’s the Best Way to Buy Gold in 2026?
• Neutral Sentiment: Company released the full Q4 earnings materials and hosted an earnings call; transcripts are available for detail on guidance and mine‑level issues. Investors will parse management commentary for clarity on volumes and capital allocation. FCX Q4 2025 Earnings Transcript
• Neutral Sentiment: Analyst coverage remains mostly positive but mixed on targets (median target cited lower than some recent upgrades), so near‑term price action may reflect reconciling those views. Q4 earnings and analyst notes
• Negative Sentiment: Production and operational issues (notably the suspension at Grasberg) materially lowered volumes and pressured gross and operating profit; management trimmed its 2026 copper sales outlook, which clouds volume-driven growth. Freeport posts profit gains despite lower production FCX Earnings Beat; 2026 Copper Sales Outlook Trimmed
• Negative Sentiment: Key profitability and cash‑flow metrics worsened year‑over‑year (lower gross/operating profit and a drop in cash from operations), raising questions about near‑term free cash flow and cadence of returns to shareholders. FCX Q4 Earnings & Revenues Top Estimates

Analyst Upgrades and Downgrades

FCX has been the subject of several recent analyst reports. Johnson Rice cut their price target on Freeport-McMoRan from $55.00 to $48.00 in a research note on Monday, September 29th. Scotiabank raised their price objective on Freeport-McMoRan from $47.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. CICC Research reduced their target price on Freeport-McMoRan from $51.60 to $42.30 and set an “outperform” rating for the company in a research note on Friday, September 26th. Morgan Stanley reiterated an “overweight” rating and set a $53.00 target price on shares of Freeport-McMoRan in a research report on Monday, December 15th. Finally, Citigroup lifted their price target on shares of Freeport-McMoRan from $48.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $55.30.

Freeport-McMoRan Stock Performance

The company has a quick ratio of 1.19, a current ratio of 2.45 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average price of $49.00 and a two-hundred day moving average price of $44.81. The firm has a market cap of $84.56 billion, a PE ratio of 41.47, a P/E/G ratio of 0.71 and a beta of 1.45.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 22nd. The natural resource company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.28 by $0.19. The firm had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.42 billion. Freeport-McMoRan had a return on equity of 7.84% and a net margin of 7.97%.The firm’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. Research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Thursday, January 15th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Thursday, January 15th. Freeport-McMoRan’s dividend payout ratio is 21.13%.

Insider Activity

In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 28,423 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $47.99, for a total value of $1,364,019.77. Following the completion of the sale, the chief accounting officer owned 105,294 shares in the company, valued at approximately $5,053,059.06. This represents a 21.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ellie L. Mikes sold 9,572 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $47.66, for a total transaction of $456,201.52. Following the completion of the transaction, the chief accounting officer directly owned 38,761 shares in the company, valued at $1,847,349.26. This trade represents a 19.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Freeport-McMoRan

Institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake in shares of Freeport-McMoRan by 24.2% in the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after acquiring an additional 2,882 shares during the last quarter. Bison Wealth LLC raised its stake in Freeport-McMoRan by 5.6% during the fourth quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after purchasing an additional 507 shares during the period. Sivia Capital Partners LLC purchased a new position in Freeport-McMoRan during the second quarter worth about $560,000. Diversified Trust Co boosted its holdings in Freeport-McMoRan by 7.7% in the 2nd quarter. Diversified Trust Co now owns 6,931 shares of the natural resource company’s stock valued at $300,000 after purchasing an additional 493 shares during the last quarter. Finally, Park Avenue Securities LLC increased its holdings in shares of Freeport-McMoRan by 8.5% during the 2nd quarter. Park Avenue Securities LLC now owns 29,346 shares of the natural resource company’s stock worth $1,272,000 after buying an additional 2,291 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Company Profile

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.