Freeport-McMoRan (NYSE:FCX) Price Target Lowered to $68.00 at Raymond James Financial

Freeport-McMoRan (NYSE:FCX) had its price target lowered by Raymond James Financial from $72.00 to $68.00 in a report issued on Friday,MarketScreener reports. The firm presently has an “outperform” rating on the natural resource company’s stock. Raymond James Financial’s price target suggests a potential upside of 10.82% from the company’s current price.

Other analysts have also recently issued research reports about the stock. UBS Group dropped their price target on shares of Freeport-McMoRan from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Wells Fargo & Company increased their price objective on shares of Freeport-McMoRan from $64.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. CICC Research increased their price objective on shares of Freeport-McMoRan from $50.40 to $64.40 and gave the stock an “outperform” rating in a research report on Monday, January 26th. JPMorgan Chase & Co. increased their price objective on shares of Freeport-McMoRan from $68.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Finally, BMO Capital Markets increased their price objective on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.66.

Freeport-McMoRan Price Performance

NYSE FCX traded down $0.12 during trading hours on Friday, hitting $61.36. 3,672,660 shares of the company’s stock traded hands, compared to its average volume of 19,804,770. The firm’s 50-day moving average is $62.50 and its 200-day moving average is $53.64. Freeport-McMoRan has a 52-week low of $34.45 and a 52-week high of $70.96. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.29 and a quick ratio of 1.05. The company has a market capitalization of $88.19 billion, a PE ratio of 40.68, a PEG ratio of 0.81 and a beta of 1.48.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter in the prior year, the company posted $0.24 EPS. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities analysts forecast that Freeport-McMoRan will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Maree E. Robertson sold 48,500 shares of the stock in a transaction on Friday, February 13th. The shares were sold at an average price of $61.55, for a total value of $2,985,175.00. Following the transaction, the chief financial officer directly owned 79,894 shares of the company’s stock, valued at $4,917,475.70. This trade represents a 37.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Stephen T. Higgins sold 29,654 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $63.00, for a total transaction of $1,868,202.00. Following the completion of the transaction, the chief accounting officer directly owned 76,445 shares in the company, valued at $4,816,035. This trade represents a 27.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 565,145 shares of company stock worth $35,839,918. 0.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Freeport-McMoRan

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

Key Headlines Impacting Freeport-McMoRan

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

• Positive Sentiment: Q1 EPS and revenue beat estimates (EPS $0.57 vs. ~$0.47 consensus) driven by higher copper, gold and molybdenum prices, supporting near-term profitability. Article Title
• Positive Sentiment: Commodity tailwinds: rising copper prices were a key driver of the beat and underpin medium-term cash flow expectations for FCX. Article Title
• Positive Sentiment: Upgraded analyst views and higher price targets ahead of the quarter (e.g., Deutsche Bank raised its target), supporting longer-term bullish thesis. Article Title
• Neutral Sentiment: Company released Q1 presentation, press release and full earnings call transcript — useful for modeling but not market-moving by itself. Article Title
• Neutral Sentiment: Full earnings call transcripts are available for deeper read on management commentary and timeline for Grasberg ramp. Article Title
• Negative Sentiment: Company cut 2026 (and 2027) copper sales volume by ~300 million pounds due to a slower-than-expected ramp at Grasberg after last year’s fatal mud rush — this materially reduces near-term supply and revenue outlook. Article Title
• Negative Sentiment: Market reaction: shares plunged (~10% intraday reported) after the production downgrade despite the earnings beat — the production miss dominates near-term valuation. Article Title
• Negative Sentiment: Analyst downward revisions: some firms (e.g., Scotiabank) trimmed earnings estimates following the weaker output outlook, adding pressure to near-term sentiment and target-price revisions. Article Title

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.