Freeport-McMoRan (NYSE:FCX) Price Target Raised to $92.00

Freeport-McMoRan (NYSE:FCX) had its target price boosted by JPMorgan Chase & Co. from $77.00 to $92.00 in a research report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the natural resource company’s stock.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Freeport-McMoRan in a research report on Thursday, September 10th. Scotiabank boosted their target price on shares of Freeport-McMoRan from $67.00 to $77.00 and gave the company a “sector outperform” rating in a research report on Monday, June 15th. BNP Paribas Exane increased their target price on shares of Freeport-McMoRan from $71.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Morgan Stanley raised their price target on shares of Freeport-McMoRan from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, UBS Group lifted their price target on shares of Freeport-McMoRan from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $76.22.

Freeport-McMoRan Stock Up 3.6%

Shares of NYSE:FCX opened at $73.67 on Wednesday. Freeport-McMoRan has a 1 year low of $38.54 and a 1 year high of $80.24. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 0.92. The business’s 50-day moving average is $71.78 and its 200-day moving average is $66.10. The company has a market capitalization of $105.80 billion, a price-to-earnings ratio of 36.29, a P/E/G ratio of 0.68 and a beta of 1.39.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, July 23rd. The natural resource company reported $0.74 EPS for the quarter, topping the consensus estimate 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 quarter last year, the firm posted $0.54 earnings per share. The firm’s revenue was down 7.3% on a year-over-year basis. Equities research analysts predict that Freeport-McMoRan will post 2.86 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

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

Insider Transactions at Freeport-McMoRan

In related news, Director Lydia H. Kennard sold 3,798 shares of Freeport-McMoRan stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $79.11, for a total value of $300,459.78. Following the completion of the sale, the director owned 122,702 shares of the company’s stock, valued at approximately $9,706,955.22. This trade represents a 3.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Stephen T. Higgins sold 14,277 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $69.50, for a total transaction of $992,251.50. Following the sale, the chief accounting officer owned 54,618 shares of the company’s stock, valued at $3,795,951. This trade represents a 20.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 110,398 shares of company stock valued at $8,387,271 over the last ninety days. Company insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. State Street Corp increased its stake in Freeport-McMoRan by 3.6% in the 2nd quarter. State Street Corp now owns 66,485,424 shares of the natural resource company’s stock valued at $4,181,268,000 after buying an additional 2,300,416 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Freeport-McMoRan by 20.0% in the 1st quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company’s stock worth $2,489,069,000 after buying an additional 7,044,775 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Freeport-McMoRan by 98.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 19,973,108 shares of the natural resource company’s stock worth $1,014,434,000 after buying an additional 9,924,573 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Freeport-McMoRan by 28.9% in the fourth quarter. Victory Capital Management Inc. now owns 17,366,596 shares of the natural resource company’s stock valued at $882,050,000 after acquiring an additional 3,894,872 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Freeport-McMoRan by 13.8% during the second quarter. Wellington Management Group LLP now owns 14,918,066 shares of the natural resource company’s stock valued at $938,197,000 after acquiring an additional 1,810,698 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about 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

Freeport-McMoRan Company Profile

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.