Freeport-McMoRan (NYSE:FCX) Stock Breaks Below 200-Day Moving Average – Here’s What Happened

Freeport-McMoRan Inc. (NYSE:FCX)’s share price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $65.24 and traded as low as $61.43. Freeport-McMoRan shares last traded at $62.44, with a volume of 17,930,991 shares trading hands.

Trending Headlines about Freeport-McMoRan

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

• Positive Sentiment: Freeport-McMoRan’s third-quarter results exceeded expectations, with earnings per share of roughly $0.81–$0.88 on $7.55 billion in revenue, supported by stronger copper economics and year-over-year revenue growth. The company’s Grasberg recovery is also advancing, which could improve production and cash flow over time. Freeport-McMoRan Q3 2026 Earnings
• Positive Sentiment: Wells Fargo reportedly maintained a Buy view on FCX, while UBS retained its Buy rating despite reducing its price target to $85 from $88. The targets remain above the recent trading level, indicating analysts still see potential upside if copper prices and Grasberg operations remain favorable. Freeport-McMoRan Receives a Buy from Wells Fargo UBS Adjusts Freeport-McMoRan Price Target
• Neutral Sentiment: FCX was included among non-ferrous mining stocks worth watching despite a weak near-term industry outlook. The list highlights the company’s growth potential but also underscores the challenging backdrop for metal producers. 5 Non-Ferrous Metal Mining Stocks to Watch
• Negative Sentiment: Freeport reduced its copper-sales outlook even as Grasberg recovery progresses. That combination raises concerns about near-term production, shipment timing and the pace at which the mine will contribute to results. Freeport Trims Copper Sales Outlook
• Negative Sentiment: UBS and Wells Fargo lowered their expectations for FCX’s share price, adding pressure after the stock’s strong run. A separate analysis argued that the anticipated Grasberg recovery may already be reflected in the valuation, with a relatively high earnings multiple leaving less room for disappointment. UBS Forecast for Freeport-McMoRan Freeport-McMoRan Q3 Analysis

Analysts Set New Price Targets

A number of research analysts recently issued reports on FCX shares. Bank of America raised their price target on Freeport-McMoRan from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. The Goldman Sachs Group restated a “buy” rating on shares of Freeport-McMoRan in a research report on Thursday, September 10th. Barclays raised their price objective on Freeport-McMoRan from $83.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 19th. Royal Bank Of Canada upped their price target on Freeport-McMoRan from $73.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 16th. Finally, Morgan Stanley increased their price objective on shares of Freeport-McMoRan from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.67.

Freeport-McMoRan Stock Down 5.6%

The stock has a 50-day moving average of $71.59 and a 200-day moving average of $65.24. The firm has a market cap of $89.66 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 0.61 and a beta of 1.39. The company has a current ratio of 2.02, a quick ratio of 0.92 and a debt-to-equity ratio of 0.23.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Tuesday, October 27th. The natural resource company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. Freeport-McMoRan had a return on equity of 12.09% and a net margin of 13.03%. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.36 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts forecast that Freeport-McMoRan Inc. will post 3.04 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

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 $0.0750 dividend. The ex-dividend date is Thursday, October 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. Freeport-McMoRan’s dividend payout ratio is 12.61%.

Insider Buying and Selling at Freeport-McMoRan

In other news, Director Lydia Kennard sold 3,798 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $79.11, for a total transaction of $300,459.78. Following the completion of the transaction, the director owned 122,702 shares in the company, 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 is accessible through this link. Also, EVP Douglas Currault, II sold 80,000 shares of Freeport-McMoRan stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $78.56, for a total transaction of $6,284,800.00. Following the completion of the transaction, the executive vice president owned 211,016 shares in the company, valued at approximately $16,577,416.96. This trade represents a 27.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 102,848 shares of company stock valued at $7,911,621 over the last 90 days. Insiders own 0.73% of the company’s stock.

Institutional Trading of Freeport-McMoRan

A number of hedge funds have recently modified their holdings of the business. Fifth Third Bancorp boosted its holdings in shares of Freeport-McMoRan by 34.5% during the first quarter. Fifth Third Bancorp now owns 1,062,916 shares of the natural resource company’s stock worth $62,478,000 after purchasing an additional 272,726 shares during the period. Iowa State Bank increased its holdings in shares of Freeport-McMoRan by 50.7% during the 3rd quarter. Iowa State Bank now owns 50,144 shares of the natural resource company’s stock valued at $3,510,000 after acquiring an additional 16,868 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Freeport-McMoRan by 4.6% during the second quarter. The Manufacturers Life Insurance Company now owns 2,687,524 shares of the natural resource company’s stock valued at $169,018,000 after purchasing an additional 117,888 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Freeport-McMoRan by 1.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,970,872 shares of the natural resource company’s stock worth $627,068,000 after acquiring an additional 141,738 shares during the period. Finally, HighTower Advisors LLC increased its stake in shares of Freeport-McMoRan by 17.1% in the second quarter. HighTower Advisors LLC now owns 1,249,858 shares of the natural resource company’s stock worth $78,604,000 after purchasing an additional 182,714 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc (NYSE: FCX) is a global mining company primarily engaged in the exploration, development, and production of copper. Copper is used extensively in electrical wiring, construction, transportation, renewable energy systems, and other industrial applications. The company also produces gold and molybdenum, a metal used in steelmaking and other industrial processes, as well as certain other byproducts.

Freeport-McMoRan operates a portfolio of mining and processing assets in North America, South America, and Indonesia.