Freeport-McMoRan (NYSE:FCX) Price Target Raised to $87.00

Posted by Stanley Muller on Oct 9th, 2026

Freeport-McMoRan (NYSE:FCX – Free Report) had its price objective raised by Wells Fargo & Company from $70.00 to $87.00 in a report published on Tuesday,Benzinga reports. They currently have an overweight rating on the natural resource company’s stock.

A number of other research analysts also recently weighed in on the company. Erste Group Bank started coverage on Freeport-McMoRan in a research note on Thursday, August 27th. They issued a “buy” rating on the stock. BMO Capital Markets increased their price target on Freeport-McMoRan from $78.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, September 29th. Barclays lifted their price target on shares of Freeport-McMoRan from $82.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday. HSBC raised their target price on shares of Freeport-McMoRan from $72.00 to $75.00 in a research note on Friday, June 12th. Finally, BNP Paribas Exane upped their price target on shares of Freeport-McMoRan from $71.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $76.22.

Read Our Latest Report on Freeport-McMoRan

Freeport-McMoRan Stock Performance

Shares of FCX opened at $71.19 on Tuesday. The firm has a market cap of $102.24 billion, a price-to-earnings ratio of 35.07, a price-to-earnings-growth ratio of 0.69 and a beta of 1.39. The company’s fifty day moving average is $71.56 and its 200-day moving average is $66.05. The company has a quick ratio of 0.92, a current ratio of 2.07 and a debt-to-equity ratio of 0.25. Freeport-McMoRan has a 12 month low of $38.54 and a 12 month high of $80.24.

Freeport-McMoRan (NYSE:FCX – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.12. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. The firm had revenue of $7.03 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the prior year, the company posted $0.54 earnings per share. Freeport-McMoRan’s revenue for the quarter was down 7.3% on a year-over-year basis. Equities analysts expect that Freeport-McMoRan will post 2.87 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be paid a $0.0750 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, October 15th. Freeport-McMoRan’s payout ratio is currently 14.78%.

Insider Activity

In other Freeport-McMoRan news, EVP Douglas N. Currault II sold 80,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $78.56, for a total value of $6,284,800.00. Following the transaction, the executive vice president directly owned 211,016 shares in the company, valued at $16,577,416.96. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Stephen T. Higgins sold 14,277 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $69.50, for a total transaction of $992,251.50. Following the sale, the chief accounting officer directly owned 54,618 shares in the company, valued at $3,795,951. This represents a 20.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 110,398 shares of company stock worth $8,387,271 in the last quarter. 0.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Jupiter Topco LLC acquired a new stake in Freeport-McMoRan in the 2nd quarter valued at about $739,890,000. Arrowstreet Capital Limited Partnership raised its stake in Freeport-McMoRan by 98.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 19,973,108 shares of the natural resource company’s stock worth $1,014,434,000 after purchasing an additional 9,924,573 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 worth $2,489,069,000 after buying an additional 7,044,775 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Freeport-McMoRan by 101.2% during the 1st quarter. Janus Henderson Group PLC now owns 11,498,267 shares of the natural resource company’s stock valued at $675,896,000 after buying an additional 5,784,156 shares during the period. Finally, Victory Capital Management Inc. grew its position in Freeport-McMoRan by 28.9% in the fourth quarter. Victory Capital Management Inc. now owns 17,366,596 shares of the natural resource company’s stock worth $882,050,000 after acquiring an additional 3,894,872 shares during the period. Institutional investors own 80.77% of the company’s stock.

Key Freeport-McMoRan News

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

Positive Sentiment: Higher price targets support the stock: JPMorgan raised its target to $92 from $77 and maintained an “overweight” rating. Wells Fargo also lifted its target to $87 from $70 while keeping an “overweight” rating. Wells Fargo Adjusts Price Target
Positive Sentiment: Potentially stronger copper demand is a catalyst: Deutsche Bank reportedly expects copper could reach $10 per pound, driven by artificial-intelligence infrastructure and electric-vehicle demand. Higher copper prices would generally improve Freeport-McMoRan’s realized pricing, revenue and cash flow. Copper Could Hit $10 a Pound
Neutral Sentiment: Analyst attention remains elevated: FCX was highlighted in materials-sector research and appeared among stocks drawing significant investor interest. These reports may increase visibility but did not provide a clear new fundamental catalyst. Analysts Offer Insights on Materials Companies
Negative Sentiment: Repeated earnings-estimate cuts weighed on sentiment: Zacks Research reduced its forecasts for third-quarter 2026 EPS to $0.61 from $0.63 and lowered FY2027 EPS to $3.47 from $3.54. It also cut FY2028 EPS to $3.41 from $3.52, along with several quarterly estimates. The revisions suggest analysts see somewhat weaker near- to medium-term profitability than previously expected. Zacks Research Earnings Estimates
Negative Sentiment: Mixed valuation and market signals: FCX’s latest session close of $71.14 was near its 50-day average of $71.41 but well above its 200-day average of $65.91. With a reported P/E ratio above 35, further estimate reductions may be particularly sensitive for investors, despite long-term copper optimism. FCX Underperforms the General Market

About Freeport-McMoRan

(Get Free Report)

Freeport-McMoRan Inc (NYSE: FCX) is a leading international mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Copper is its principal product and is used in electrical systems, construction, transportation, renewable energy infrastructure and other industrial applications. The company also produces copper cathodes and concentrates, gold, molybdenum products and certain quantities of silver and other byproducts.

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