Freeport-McMoRan (NYSE:FCX) Trading 2.7% Higher on Earnings Beat

Freeport-McMoRan Inc. (NYSE:FCX) was up 2.7% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $60.81 and last traded at $60.4590. Approximately 24,461,953 shares traded hands during trading, an increase of 10% from the average daily volume of 22,243,217 shares. The stock had previously closed at $58.85.

The natural resource company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.19. Freeport-McMoRan had a net margin of 7.97% and a return on equity of 7.84%. The company had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter in the previous year, the company earned $0.31 earnings per share. Freeport-McMoRan’s quarterly revenue was down 1.5% on a year-over-year basis.

Freeport-McMoRan Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Thursday, January 15th will be given a $0.075 dividend. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. Freeport-McMoRan’s dividend payout ratio is currently 21.13%.

Key Headlines Impacting Freeport-McMoRan

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

• Positive Sentiment: Q4 results beat consensus on key metrics — Freeport reported stronger-than-expected profit and revenue (helped by higher copper and gold prices), which underpinned investor confidence. Reuters: Profit Beats
• Positive Sentiment: Analyst upgrades and bullish price targets lifted sentiment — recent upgrades and high targets from firms including Citigroup/JP Morgan/Wells Fargo helped push the stock to a new 12‑month high. Analyst Upgrade/12-Month High
• Positive Sentiment: Grasberg restart progress reduces some operational worry — management said the Grasberg mine is on track for a Q2 restart after the fatal mudslide, which, if achieved, would restore lost volumes. MSN: Grasberg Restart
• Positive Sentiment: Macro metals rally is supportive — a strong run in gold (and high copper) amplifies miners’ earnings leverage, benefiting Freeport’s outlook. MarketBeat: Gold Rally
• Neutral Sentiment: Call/transcript and presentation released — investors can review management commentary and the slide deck for detail on volumes, costs and capital plans. Earnings Call Transcript
• Negative Sentiment: 2026 copper sales outlook trimmed — Freeport reduced its 2026 copper sales guidance after the quarter, which could limit near-term revenue growth expectations. Investors.com: Sales Outlook Trimmed
• Negative Sentiment: Production hit from Grasberg suspension remains a headwind — Q4 volumes were lower due to the ongoing suspension, highlighting execution and operational risk until full ramp-up. Yahoo Finance: Earnings Highlights
• Positive Sentiment: Analyst/style recognition — value/style screens and positive analyst commentary (Zacks and others) are driving interest from both fundamental and quant investors. Zacks: Top-Ranked Value Stock

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Dbs Bank decreased their price objective on Freeport-McMoRan from $51.00 to $48.00 in a report on Thursday, October 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $68.00 price target on shares of Freeport-McMoRan in a research note on Monday, January 5th. CICC Research lowered their price target on shares of Freeport-McMoRan from $51.60 to $42.30 and set an “outperform” rating for the company in a research report on Friday, September 26th. HSBC upped their price objective on shares of Freeport-McMoRan from $48.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Royal Bank Of Canada lowered their target price on shares of Freeport-McMoRan from $54.00 to $48.00 and set a “sector perform” rating for the company in a report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.20.

Insiders Place Their Bets

In related news, CAO Ellie L. Mikes sold 9,572 shares of the stock in a transaction 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 sale, the chief accounting officer directly owned 38,761 shares of the company’s stock, valued at $1,847,349.26. This trade represents a 19.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Stephen T. Higgins sold 28,423 shares of Freeport-McMoRan stock in a transaction dated 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 completion of the sale, the chief accounting officer owned 105,294 shares of the company’s stock, valued at $5,053,059.06. The trade was a 21.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.75% of the stock is currently owned by company insiders.

Institutional Trading of Freeport-McMoRan

Institutional investors have recently made changes to their positions in the stock. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Freeport-McMoRan during the 3rd quarter valued at $25,000. Twin Peaks Wealth Advisors LLC purchased a new position in Freeport-McMoRan during the second quarter valued at $28,000. Salomon & Ludwin LLC grew its holdings in Freeport-McMoRan by 1,962.9% during the third quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 687 shares during the period. JPL Wealth Management LLC purchased a new stake in Freeport-McMoRan in the third quarter worth about $33,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Freeport-McMoRan in the third quarter worth about $36,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

The company has a quick ratio of 1.19, a current ratio of 2.45 and a debt-to-equity ratio of 0.29. The stock has a market cap of $86.81 billion, a P/E ratio of 42.58, a P/E/G ratio of 0.71 and a beta of 1.45. The firm has a 50 day moving average price of $49.37 and a 200 day moving average price of $44.91.

Freeport-McMoRan Company Profile

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.