Freeport-McMoRan (NYSE:FCX) Price Target Raised to $63.00

Freeport-McMoRan (NYSE:FCX) had its price target hoisted by Scotiabank from $47.00 to $63.00 in a research report released on Thursday,BayStreet.CA reports. Scotiabank currently has an outperform rating on the natural resource company’s stock.

A number of other analysts also recently issued reports on the company. Sanford C. Bernstein lowered their target price on Freeport-McMoRan from $48.50 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. Jefferies Financial Group restated a “buy” rating and issued a $68.00 price target on shares of Freeport-McMoRan in a research note on Monday, January 5th. Hsbc Global Res upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Johnson Rice decreased their target price on shares of Freeport-McMoRan from $55.00 to $48.00 in a research note on Monday, September 29th. Finally, Citigroup upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $51.73.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $56.51 on Thursday. The stock has a market capitalization of $81.15 billion, a price-to-earnings ratio of 39.80, a PEG ratio of 0.85 and a beta of 1.45. Freeport-McMoRan has a 12 month low of $27.66 and a 12 month high of $57.12. The firm has a fifty day simple moving average of $45.93 and a 200 day simple moving average of $43.96. The company has a current ratio of 2.45, a quick ratio of 1.19 and a debt-to-equity ratio of 0.29.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $6.74 billion. During the same period in the previous year, the business earned $0.38 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. Research analysts forecast that Freeport-McMoRan will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $0.30 annualized dividend and a yield of 0.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 21.13%.

Insider Buying and Selling at Freeport-McMoRan

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

Institutional Investors Weigh In On Freeport-McMoRan

Several hedge funds have recently bought and sold shares of FCX. Iowa State Bank grew its position in shares of Freeport-McMoRan by 0.4% in the fourth quarter. Iowa State Bank now owns 49,059 shares of the natural resource company’s stock valued at $2,492,000 after purchasing an additional 213 shares during the last quarter. Armstrong Advisory Group Inc. boosted its stake in Freeport-McMoRan by 17.3% in the 4th quarter. Armstrong Advisory Group Inc. now owns 1,628 shares of the natural resource company’s stock valued at $83,000 after purchasing an additional 240 shares during the period. Portside Wealth Group LLC grew its holdings in Freeport-McMoRan by 0.8% in the 2nd quarter. Portside Wealth Group LLC now owns 30,333 shares of the natural resource company’s stock valued at $1,315,000 after buying an additional 245 shares in the last quarter. Hollencrest Capital Management increased its position in Freeport-McMoRan by 0.6% during the 2nd quarter. Hollencrest Capital Management now owns 45,133 shares of the natural resource company’s stock worth $1,957,000 after buying an additional 250 shares during the period. Finally, Benjamin Edwards Inc. increased its position in Freeport-McMoRan by 0.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 45,095 shares of the natural resource company’s stock worth $1,769,000 after buying an additional 250 shares during the period. 80.77% of the stock is currently 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: Analyst upgrades and higher price targets from major banks (Scotiabank raised its target to $63; JPMorgan raised to $68) signal stronger analyst conviction and provide upside support for the stock. Scotiabank price target raised
• Positive Sentiment: Independent research and media pieces (Zacks, MSN/other outlets) highlight strong copper markets, supply tightness and robust demand as drivers for FCX’s growth outlook. Those narratives bolster investor enthusiasm for mining/copper exposure. Zacks: FCX is a strong growth stock
• Positive Sentiment: Options activity: notable call buying and heavy call-volume flows have been reported recently, consistent with bullish positioning by traders. Such flows can amplify short‑term upside. Call options activity reported
• Neutral Sentiment: Consensus broker ratings skew positive (overall “Buy”), reflecting broad analyst support but also setting expectations that could be sensitive to execution or commodity price moves. Consensus Buy from brokerages
• Negative Sentiment: Multiple law firms have filed or announced securities‑fraud class action suits and investor investigation notices against FCX (claims cover Feb 15, 2022–Sep 24, 2025). These filings create legal risk, potential defense costs and distraction that can weigh on sentiment. Levi & Korsinsky class action notice
• Negative Sentiment: Several plaintiff firms (Robbins Geller, Bragar Eagel & Squire, Faruqi & Faruqi, Kirby McInerney, Gross Law Firm, etc.) are soliciting lead‑plaintiff motions with a near‑term deadline (Jan. 12), increasing the probability of consolidated litigation and potential recovery claims. That timetable raises short‑term legal overhang. Robbins Geller / lead plaintiff deadline

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.