Freeport-McMoRan (NYSE:FCX) Given New $70.00 Price Target at Morgan Stanley

Posted by Brian Himes on Jul 8th, 2026

Freeport-McMoRan (NYSE:FCX – Get Free Report) had its price objective raised by equities research analysts at Morgan Stanley from $66.00 to $70.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the natural resource company’s stock. Morgan Stanley’s price target indicates a potential upside of 18.10% from the stock’s current price.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Freeport-McMoRan in a research report on Friday, May 15th. HSBC boosted their target price on Freeport-McMoRan from $72.00 to $75.00 in a research report on Friday, June 12th. Citigroup lowered their price target on Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, Scotiabank boosted their price objective on Freeport-McMoRan from $67.00 to $77.00 and gave the company a “sector outperform” rating in a report on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.54.

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Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $59.27 on Wednesday. The firm has a 50 day simple moving average of $63.77 and a 200-day simple moving average of $61.51. The stock has a market cap of $85.21 billion, a price-to-earnings ratio of 31.53, a price-to-earnings-growth ratio of 0.63 and a beta of 1.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. Freeport-McMoRan has a 1-year low of $35.15 and a 1-year high of $72.28.

Freeport-McMoRan (NYSE:FCX – Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 earnings per share. On average, analysts expect that Freeport-McMoRan will post 2.59 EPS for the current year.

Hedge Funds Weigh In On Freeport-McMoRan

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC grew its holdings in Freeport-McMoRan by 24.2% during the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after acquiring an additional 2,882 shares in the last quarter. Bison Wealth LLC lifted its position in shares of Freeport-McMoRan by 5.6% during the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after purchasing an additional 507 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Freeport-McMoRan during the second quarter worth $560,000. Brown Advisory Inc. grew its stake in shares of Freeport-McMoRan by 27.0% during the second quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock worth $539,000 after purchasing an additional 2,648 shares in the last quarter. Finally, Jump Financial LLC grew its stake in shares of Freeport-McMoRan by 42.7% during the second quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company’s stock worth $2,172,000 after purchasing an additional 14,992 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Company Profile

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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.