Freeport-McMoRan Inc. (NYSE:FCX) Stock Has Consensus Price Target of $75.30

Freeport-McMoRan Inc. (NYSE:FCX) has received a consensus recommendation of “Moderate Buy” from the twenty-five ratings firms that are covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, twenty have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $75.30.

FCX has been the topic of several research reports. The Goldman Sachs Group restated a “buy” rating on shares of Freeport-McMoRan in a research report on Thursday, September 10th. Morgan Stanley raised their price target on Freeport-McMoRan from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 7th. Royal Bank Of Canada boosted their price target on shares of Freeport-McMoRan from $73.00 to $85.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 16th. Freedom Broker cut their target price on Freeport-McMoRan from $75.00 to $68.00 and set a “hold” rating on the stock in a research note on Monday, November 2nd. Finally, Scotiabank decreased their price objective on Freeport-McMoRan from $80.00 to $78.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 28th.

Insider Buying and Selling at Freeport-McMoRan

In other news, EVP Douglas N. Currault II sold 80,000 shares of Freeport-McMoRan stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $78.56, for a total transaction of $6,284,800.00. Following the sale, the executive vice president owned 211,016 shares of the company’s stock, valued at approximately $16,577,416.96. The trade was a 27.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lydia H. Kennard sold 3,798 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $79.11, for a total transaction of $300,459.78. Following the completion of the sale, the director owned 122,702 shares of the company’s stock, valued at $9,706,955.22. This trade represents a 3.00% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Freeport-McMoRan

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fisher Asset Management LLC increased its stake in shares of Freeport-McMoRan by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 68,111,240 shares of the natural resource company’s stock valued at $4,767,787,000 after buying an additional 1,189,226 shares during the period. State Street Corp grew its holdings in Freeport-McMoRan by 3.6% during the second quarter. State Street Corp now owns 66,485,424 shares of the natural resource company’s stock valued at $4,181,268,000 after purchasing an additional 2,300,416 shares during the period. Bank of America Corp DE increased its holdings in shares of Freeport-McMoRan by 20.0% during the 1st quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company’s stock valued at $2,489,069,000 after purchasing an additional 7,044,775 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Freeport-McMoRan by 13.8% in the second quarter. Wellington Management Group LLP now owns 14,918,066 shares of the natural resource company’s stock valued at $938,197,000 after purchasing an additional 1,810,698 shares during the period. Finally, Amundi grew its stake in Freeport-McMoRan by 10.5% in the 2nd quarter. Amundi now owns 11,819,898 shares of the natural resource company’s stock valued at $743,353,000 after acquiring an additional 1,125,982 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: Freeport approved a $4.5 billion expansion of its Bagdad mine in Arizona. The project aims to more than double mining and milling rates, increase copper and molybdenum output, and reduce long-term unit costs by about 20%—potentially supporting future growth and margins. Article: Freeport’s $4.5 Billion Bagdad Expansion to Boost U.S. Production
• Negative Sentiment: The project’s substantial capital cost, alongside higher capital-spending guidance, has raised near-term concerns and reportedly pressured shares after the company’s third-quarter results. Scotiabank also lowered its FY2026 and FY2027 EPS estimates to $3.20 and $2.57, respectively, though it kept a Sector Outperform rating and a $78 price target. Article: Powering Up: Freeport-McMoRan’s $4.5B Copper Expansion

Freeport-McMoRan Trading Up 2.5%

Shares of NYSE:FCX opened at $59.36 on Wednesday. The company has a current ratio of 2.02, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average of $69.84 and a 200-day moving average of $65.27. The firm has a market cap of $85.25 billion, a P/E ratio of 24.94, a P/E/G ratio of 0.58 and a beta of 1.38. Freeport-McMoRan has a twelve month low of $38.75 and a twelve month high of $80.24.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Tuesday, October 27th. The natural resource company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.82 by $0.06. Freeport-McMoRan had a net margin of 13.03% and a return on equity of 12.09%. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.36 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. As a group, analysts anticipate that Freeport-McMoRan will post 3.02 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Thursday, October 15th were issued a $0.0750 dividend. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, October 15th. Freeport-McMoRan’s payout ratio is 12.61%.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Its products serve industries including construction, manufacturing, electronics and energy.

The company operates mines and related facilities in North America, South America and Indonesia. Its assets include the Grasberg minerals district in Indonesia and copper operations in the United States, Peru and Chile.

Freeport-McMoRan traces its roots to Freeport Sulphur Company, founded in 1912, and has since developed into a major international mining business.