Freeport-McMoRan (NYSE:FCX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Freeport-McMoRan (NYSE:FCX) had its price target upped by stock analysts at JPMorgan Chase & Co. from $73.00 to $77.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the natural resource company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 34.04% from the company’s previous close.

A number of other research firms have also recently commented on FCX. Weiss Ratings cut Freeport-McMoRan from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Wall Street Zen upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Raymond James Financial cut their price target on shares of Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. Scotiabank raised their price target on shares of Freeport-McMoRan from $67.00 to $77.00 and gave the stock a “sector outperform” rating in a report on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Freeport-McMoRan in a research note on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.63.

Freeport-McMoRan Stock Down 3.2%

NYSE:FCX opened at $57.45 on Thursday. The company’s 50-day simple moving average is $63.71 and its 200-day simple moving average is $61.58. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. Freeport-McMoRan has a fifty-two week low of $35.15 and a fifty-two week high of $72.28. The stock has a market capitalization of $82.58 billion, a P/E ratio of 30.56, a P/E/G ratio of 0.61 and a beta of 1.37.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The company had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. Freeport-McMoRan’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities analysts anticipate that Freeport-McMoRan will post 2.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Freeport-McMoRan

Hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC raised its position in Freeport-McMoRan by 24.2% during the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock valued at $564,000 after acquiring an additional 2,882 shares in the last quarter. Bison Wealth LLC increased its holdings in shares of Freeport-McMoRan by 5.6% during the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock valued at $366,000 after purchasing an additional 507 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Freeport-McMoRan in the 2nd quarter valued at $560,000. Brown Advisory Inc. boosted its holdings in Freeport-McMoRan by 27.0% during the second quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock worth $539,000 after buying an additional 2,648 shares in the last quarter. Finally, Jump Financial LLC boosted its holdings in Freeport-McMoRan by 42.7% during the second quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company’s stock worth $2,172,000 after buying an additional 14,992 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan News Summary

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

• Positive Sentiment: Scotiabank raised its FY2026 EPS estimate for Freeport-McMoRan to $3.01 from $2.60, well above the current consensus of $2.59, while maintaining a Sector Outperform rating and a $77 price target.
• Positive Sentiment: Morgan Stanley lifted its price target on FCX to $70 from $66, reinforcing the view that the stock still has meaningful upside from current levels.
• Positive Sentiment: Articles focused on copper demand highlighted strong fundamentals from electrification, grid expansion, and data center growth, which support Freeport-McMoRan’s core copper business even as supply remains tight.
• Neutral Sentiment: Freeport-McMoRan declared a $0.15 per share cash dividend, which may attract income investors, but the headline was mostly framed as a valuation question rather than a clear catalyst. Freeport-McMoRan (FCX) Declared A Cash Dividend, Is It Still 19% Undervalued?
• Negative Sentiment: Reports noted output pressure at the key Grasberg mine, which could weigh on near-term production and raise concern about supply execution. Freeport McMoran (FCX) Faces Grasberg Output Pressure As Copper Demand Stays Strong
• Negative Sentiment: Recent commentary also suggested broader commodity forecasters are turning more cautious on metals, which could cap enthusiasm for FCX if copper prices soften.

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.