Raymond James Financial Cuts Freeport-McMoRan (NYSE:FCX) Price Target to $45.00

Freeport-McMoRan (NYSE:FCX) had its price target cut by Raymond James Financial from $46.00 to $45.00 in a report released on Wednesday,MarketScreener reports. They currently have an outperform rating on the natural resource company’s stock. Raymond James Financial also issued estimates for Freeport-McMoRan’s Q4 2025 earnings at $0.21 EPS, FY2025 earnings at $1.48 EPS, Q1 2026 earnings at $0.40 EPS, Q2 2026 earnings at $0.42 EPS, Q3 2026 earnings at $0.46 EPS, Q4 2026 earnings at $0.52 EPS and FY2026 earnings at $1.80 EPS.

A number of other research firms have also recently commented on FCX. Bank of America raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Tuesday, September 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Freeport-McMoRan in a research note on Wednesday, October 8th. HSBC raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their price objective for the company from $43.00 to $50.00 in a research report on Friday, October 17th. Sanford C. Bernstein dropped 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. Finally, Royal Bank Of Canada cut their price target on Freeport-McMoRan from $54.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 1st. Four 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $46.73.

Freeport-McMoRan Price Performance

FCX stock opened at $39.81 on Wednesday. The firm has a market cap of $57.16 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 0.94 and a beta of 1.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.19 and a current ratio of 2.45. Freeport-McMoRan has a 1 year low of $27.66 and a 1 year high of $49.12. The stock has a 50-day simple moving average of $41.09 and a 200-day simple moving average of $41.84.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. Freeport-McMoRan had a return on equity of 7.84% and a net margin of 7.97%.The firm had revenue of $6.97 billion during the quarter, compared to analysts’ expectations of $6.74 billion. During the same quarter in the prior year, the business earned $0.38 EPS. Freeport-McMoRan’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts predict that Freeport-McMoRan will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Wednesday, October 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Wednesday, October 15th. Freeport-McMoRan’s dividend payout ratio is 21.13%.

Hedge Funds Weigh In On Freeport-McMoRan

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Freeport-McMoRan by 1.4% during the third quarter. Vanguard Group Inc. now owns 128,760,188 shares of the natural resource company’s stock valued at $5,049,975,000 after buying an additional 1,776,241 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Freeport-McMoRan by 1.4% in the 3rd quarter. Fisher Asset Management LLC now owns 63,258,414 shares of the natural resource company’s stock worth $2,480,995,000 after acquiring an additional 899,699 shares in the last quarter. State Street Corp increased its holdings in shares of Freeport-McMoRan by 1.1% in the 3rd quarter. State Street Corp now owns 62,477,910 shares of the natural resource company’s stock valued at $2,450,384,000 after acquiring an additional 690,736 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Freeport-McMoRan by 17.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 37,547,489 shares of the natural resource company’s stock valued at $1,421,549,000 after acquiring an additional 5,661,958 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Freeport-McMoRan by 190.9% during the third quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock worth $1,431,326,000 after purchasing an additional 23,950,557 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.