Freeport-McMoRan (NYSE:FCX) Price Target Lowered to $68.00 at Raymond James Financial

Freeport-McMoRan (NYSE:FCX) had its price target lowered by equities research analysts at Raymond James Financial from $72.00 to $68.00 in a report issued on Friday,MarketScreener reports. The brokerage presently has an “outperform” rating on the natural resource company’s stock. Raymond James Financial’s target price points to a potential upside of 10.82% from the stock’s current price.

FCX has been the subject of several other reports. Argus upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Friday, February 13th. UBS Group decreased their price target on shares of Freeport-McMoRan from $70.00 to $66.00 and set a “buy” rating for the company in a report on Friday, March 27th. Morgan Stanley restated an “equal weight” rating and set a $66.00 price target (down from $70.00) on shares of Freeport-McMoRan in a report on Friday. Freedom Capital upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Saturday, February 21st. Finally, Wall Street Zen cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $65.66.

Freeport-McMoRan Price Performance

FCX traded down $0.12 on Friday, reaching $61.36. The company had a trading volume of 3,672,660 shares, compared to its average volume of 19,804,770. The company has a market capitalization of $88.19 billion, a P/E ratio of 40.68, a PEG ratio of 0.81 and a beta of 1.48. The company has a current ratio of 2.29, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average of $62.50 and a 200-day moving average of $53.64. Freeport-McMoRan has a one year low of $34.45 and a one year high of $70.96.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10. The firm had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $6.40 billion. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. Freeport-McMoRan’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $0.24 EPS. As a group, equities research analysts anticipate that Freeport-McMoRan will post 2.54 earnings per share for the current year.

Insider Buying and Selling

In other Freeport-McMoRan news, Chairman Richard C. Adkerson sold 248,031 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $62.80, for a total value of $15,576,346.80. Following the sale, the chairman owned 3,509,119 shares of the company’s stock, valued at $220,372,673.20. The trade was a 6.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Stephen T. Higgins sold 29,654 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $63.00, for a total transaction of $1,868,202.00. Following the completion of the sale, the chief accounting officer directly owned 76,445 shares in the company, valued at $4,816,035. This trade represents a 27.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 565,145 shares of company stock valued at $35,839,918. 0.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Freeport-McMoRan

Several institutional investors and hedge funds have recently made changes to their positions in FCX. Vanguard Group Inc. lifted its position in Freeport-McMoRan by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 130,332,957 shares of the natural resource company’s stock worth $6,619,611,000 after buying an additional 1,572,769 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Freeport-McMoRan by 1.0% during the 4th quarter. Fisher Asset Management LLC now owns 63,880,757 shares of the natural resource company’s stock worth $3,244,504,000 after purchasing an additional 622,343 shares during the last quarter. State Street Corp raised its holdings in Freeport-McMoRan by 0.6% during the 4th quarter. State Street Corp now owns 62,873,136 shares of the natural resource company’s stock worth $3,193,327,000 after purchasing an additional 395,226 shares during the last quarter. Franklin Resources Inc. raised its holdings in Freeport-McMoRan by 31.2% during the 4th quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company’s stock worth $1,897,202,000 after purchasing an additional 8,891,743 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Freeport-McMoRan by 190.9% during the 3rd 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. Institutional investors and hedge funds own 80.77% of the company’s stock.

Key Stories Impacting Freeport-McMoRan

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

• Positive Sentiment: Q1 EPS and revenue beat estimates (EPS $0.57 vs. ~$0.47 consensus) driven by higher copper, gold and molybdenum prices, supporting near-term profitability. Article Title
• Positive Sentiment: Commodity tailwinds: rising copper prices were a key driver of the beat and underpin medium-term cash flow expectations for FCX. Article Title
• Positive Sentiment: Upgraded analyst views and higher price targets ahead of the quarter (e.g., Deutsche Bank raised its target), supporting longer-term bullish thesis. Article Title
• Neutral Sentiment: Company released Q1 presentation, press release and full earnings call transcript — useful for modeling but not market-moving by itself. Article Title
• Neutral Sentiment: Full earnings call transcripts are available for deeper read on management commentary and timeline for Grasberg ramp. Article Title
• Negative Sentiment: Company cut 2026 (and 2027) copper sales volume by ~300 million pounds due to a slower-than-expected ramp at Grasberg after last year’s fatal mud rush — this materially reduces near-term supply and revenue outlook. Article Title
• Negative Sentiment: Market reaction: shares plunged (~10% intraday reported) after the production downgrade despite the earnings beat — the production miss dominates near-term valuation. Article Title
• Negative Sentiment: Analyst downward revisions: some firms (e.g., Scotiabank) trimmed earnings estimates following the weaker output outlook, adding pressure to near-term sentiment and target-price revisions. Article Title

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.