Zacks Research Has Positive Forecast for FCX FY2026 Earnings

Freeport-McMoRan Inc. (NYSE:FCX) – Equities research analysts at Zacks Research raised their FY2026 earnings per share (EPS) estimates for shares of Freeport-McMoRan in a note issued to investors on Wednesday, February 4th. Zacks Research analyst Team now anticipates that the natural resource company will post earnings per share of $1.94 for the year, up from their previous forecast of $1.74. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $1.68 per share. Zacks Research also issued estimates for Freeport-McMoRan’s Q4 2026 earnings at $0.45 EPS, Q4 2027 earnings at $0.65 EPS and FY2027 earnings at $2.71 EPS.

FCX has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price target on shares of Freeport-McMoRan from $58.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. CICC Research boosted their target price on shares of Freeport-McMoRan from $50.40 to $64.40 and gave the company an “outperform” rating in a report on Monday, January 26th. Citigroup upped their price target on shares of Freeport-McMoRan from $48.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Morgan Stanley set a $70.00 price objective on Freeport-McMoRan in a research report on Tuesday, January 27th. Finally, Wells Fargo & Company boosted their price objective on Freeport-McMoRan from $55.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $58.40.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $59.29 on Friday. The stock has a market capitalization of $85.14 billion, a PE ratio of 39.27, a PEG ratio of 0.72 and a beta of 1.47. The business’s 50 day simple moving average is $53.65 and its 200 day simple moving average is $46.06. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.29 and a quick ratio of 1.05. Freeport-McMoRan has a one year low of $27.66 and a one year high of $69.44.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.19. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The company had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The business’s quarterly revenue was down 1.5% on a year-over-year basis.

Institutional Investors Weigh In On Freeport-McMoRan

Hedge funds have recently made changes to their positions in the business. TD Private Client Wealth LLC increased its holdings in Freeport-McMoRan by 44.6% during the fourth quarter. TD Private Client Wealth LLC now owns 21,850 shares of the natural resource company’s stock worth $1,110,000 after buying an additional 6,738 shares during the last quarter. Mission Wealth Management LP purchased a new stake in shares of Freeport-McMoRan during the 4th quarter worth approximately $333,000. Pacific Heights Asset Management LLC raised its holdings in shares of Freeport-McMoRan by 3.9% in the 4th quarter. Pacific Heights Asset Management LLC now owns 2,650,000 shares of the natural resource company’s stock worth $134,594,000 after purchasing an additional 100,000 shares during the period. RiverFront Investment Group LLC lifted its stake in Freeport-McMoRan by 9.4% in the fourth quarter. RiverFront Investment Group LLC now owns 17,305 shares of the natural resource company’s stock valued at $879,000 after purchasing an additional 1,490 shares during the last quarter. Finally, North Dakota State Investment Board bought a new position in Freeport-McMoRan during the fourth quarter valued at $2,491,000. 80.77% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Ellie L. Mikes sold 9,572 shares of Freeport-McMoRan 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 transaction, the chief accounting officer owned 38,761 shares of the company’s stock, valued at $1,847,349.26. The trade was a 19.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Stephen T. Higgins sold 28,423 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $47.99, for a total value of $1,364,019.77. Following the sale, the chief accounting officer owned 105,294 shares of the company’s stock, valued at $5,053,059.06. This trade represents a 21.26% decrease in their position. The SEC filing for this sale provides additional information. 0.75% of the stock is currently owned by company insiders.

Freeport-McMoRan Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Thursday, January 15th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Thursday, January 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. Freeport-McMoRan’s payout ratio is presently 19.87%.

Freeport-McMoRan News Summary

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

• Positive Sentiment: Zacks Research raised earnings estimates across multiple quarters and for FY2028, lifting Q1–Q3 and Q1–Q2 ’27 EPS forecasts (e.g., Q1 2027 to $0.63, Q2 2027 to $0.78) — a fundamental upgrade that supports higher future earnings expectations. Read More.
• Positive Sentiment: An analyst price target was increased about 10.45% (to $62.23), signaling some sell-side confidence in near-term upside. Read More.
• Positive Sentiment: News coverage highlights Freeport benefiting from record copper prices and a focus on disciplined growth — a supportive commodity backdrop for revenues and cash flow. Read More.
• Neutral Sentiment: Valuation articles are reviewing FCX after the rally — these pieces raise awareness of higher multiples and make the stock’s risk/reward more debated among investors. That increases sensitivity to any near-term earnings or copper-price swings. Read More.
• Negative Sentiment: Analyst/commentary pieces urging caution (e.g., “waiting for a better entry point”) reflect a portion of the market taking profits or avoiding exposure at current levels, which can pressure the share price despite positive fundamentals. Read More.

About Freeport-McMoRan

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.