Freeport-McMoRan (NYSE:FCX) Given New $85.00 Price Target at UBS Group

Posted by Francis Steltz on Oct 28th, 2026

Freeport-McMoRan (NYSE:FCX – Get Free Report) had its price objective reduced by stock analysts at UBS Group from $88.00 to $85.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the natural resource company’s stock. UBS Group‘s target price indicates a potential upside of 27.77% from the company’s previous close.

Several other research analysts also recently weighed in on FCX. Wells Fargo & Company decreased their target price on shares of Freeport-McMoRan from $87.00 to $79.00 and set an “overweight” rating for the company in a research note on Wednesday. Citigroup boosted their price objective on shares of Freeport-McMoRan from $66.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, October 5th. BMO Capital Markets upped their price objective on shares of Freeport-McMoRan from $78.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, September 29th. Royal Bank Of Canada upped their price objective on shares of Freeport-McMoRan from $73.00 to $85.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 16th. Finally, Barclays raised their target price on Freeport-McMoRan from $83.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $75.67.

Check Out Our Latest Report on FCX

Freeport-McMoRan Stock Up 0.9%

NYSE FCX traded up $0.58 during trading hours on Wednesday, hitting $66.53. The company had a trading volume of 9,498,225 shares, compared to its average volume of 15,918,077. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 0.92. Freeport-McMoRan has a fifty-two week low of $38.54 and a fifty-two week high of $80.24. The company has a market capitalization of $95.53 billion, a price-to-earnings ratio of 32.77, a P/E/G ratio of 0.58 and a beta of 1.39. The firm’s 50 day moving average is $71.82 and its 200 day moving average is $65.11.

Freeport-McMoRan (NYSE:FCX – Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The natural resource company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.36 billion. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%. Freeport-McMoRan’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. Sell-side analysts anticipate that Freeport-McMoRan will post 3.05 earnings per share for the current fiscal year.

Insider Activity at Freeport-McMoRan

In other news, CAO Stephen T. Higgins sold 14,277 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $69.50, for a total value of $992,251.50. Following the completion of the sale, the chief accounting officer owned 54,618 shares of the company’s stock, valued at approximately $3,795,951. The trade was a 20.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Douglas N. Currault II sold 80,000 shares of the company’s 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 completion of the sale, 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 have sold a total of 110,398 shares of company stock worth $8,387,271 in the last ninety days. 0.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Freeport-McMoRan

Several large investors have recently modified their holdings of FCX. State Street Corp increased its holdings in Freeport-McMoRan by 3.6% in 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 buying an additional 2,300,416 shares during the last quarter. Bank of America Corp DE raised its stake in Freeport-McMoRan by 20.0% during the first 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 buying an additional 7,044,775 shares in the last quarter. Wellington Management Group LLP raised its stake in Freeport-McMoRan by 13.8% during 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 buying an additional 1,810,698 shares in the last quarter. Amundi lifted its holdings in Freeport-McMoRan by 10.5% during the 2nd quarter. Amundi now owns 11,819,898 shares of the natural resource company’s stock worth $743,353,000 after buying an additional 1,125,982 shares during the last quarter. Finally, Jupiter Topco LLC bought a new position in Freeport-McMoRan during the 2nd quarter worth approximately $739,890,000. Institutional investors own 80.77% of the company’s stock.

More Freeport-McMoRan News

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

Positive Sentiment: Q3 results exceeded expectations: Freeport-McMoRan reported adjusted earnings of $0.88 per share versus the $0.82 consensus, while revenue increased 8.2% year over year to $7.55 billion, topping estimates. Higher copper and molybdenum prices offset weaker sales volumes and helped net income rise substantially from the prior-year period. Freeport-McMoRan Q3 revenue rises as copper prices boost earnings
Positive Sentiment: Growth plans support the long-term outlook: Management is targeting copper sales above 4 billion pounds by 2028, supported by the recovery of the Grasberg operation, leaching technology and planned expansions. The company also said it is evaluating ways to increase molybdenum production at its Colorado mine. FCX Q3 Earnings Call Highlights Grasberg Recovery and Growth Plans
Positive Sentiment: Analysts remain bullish: Goldman Sachs raised its price target to $83 from $81, while JPMorgan and Wells Fargo maintained “overweight” ratings. Their revised targets still imply meaningful upside, despite some target reductions. Goldman Sachs Adjusts Price Target on Freeport-McMoRan
Neutral Sentiment: Structural copper demand remains supportive: Tight supply and demand from data centers, electrification and infrastructure could benefit FCX, although the company remains exposed to commodity-price volatility and currency movements. The world requires a lot more copper
Negative Sentiment: Operating challenges temper the earnings strength: Lower production and sales volumes at Indonesian operations, along with rising production costs, remain risks. Wells Fargo reduced its target to $79 from $87 and JPMorgan lowered its target to $90 from $92, signaling some caution about valuation and execution.
Negative Sentiment: Macro risks persist: Higher interest rates and a stronger U.S. dollar could pressure mining valuations and dollar-denominated commodity prices, potentially limiting further gains if yields continue rising.

Freeport-McMoRan Company Profile

(Get Free Report)

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.