Freeport-McMoRan (NYSE:FCX) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Posted by Brenda Bartman on Oct 31st, 2026

Freeport-McMoRan (NYSE:FCX – Free Report) had its price target lowered by JPMorgan Chase & Co. from $92.00 to $90.00 in a report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the natural resource company’s stock.

A number of other brokerages also recently issued reports on FCX. Freedom Broker downgraded Freeport-McMoRan from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 3rd. Erste Group Bank assumed coverage on shares of Freeport-McMoRan in a research note on Thursday, August 27th. They issued a “buy” rating on the stock. Wall Street Zen lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Wells Fargo & Company decreased their price target on shares of Freeport-McMoRan from $87.00 to $79.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Citigroup raised their price objective on shares of Freeport-McMoRan from $66.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.67.

Check Out Our Latest Report on FCX

Freeport-McMoRan Stock Down 5.6%

FCX opened at $62.44 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 2.02 and a debt-to-equity ratio of 0.23. The stock has a market cap of $89.66 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 0.61 and a beta of 1.39. Freeport-McMoRan has a twelve month low of $38.54 and a twelve month high of $80.24. The company’s 50-day moving average price is $71.59 and its two-hundred day moving average price is $65.24.

Freeport-McMoRan (NYSE:FCX – Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The natural resource company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.36 billion. Freeport-McMoRan had a return on equity of 12.09% and a net margin of 13.03%. Freeport-McMoRan’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 earnings per share. As a group, equities analysts expect that Freeport-McMoRan will post 3.04 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be paid a $0.0750 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 15th. Freeport-McMoRan’s payout ratio is 12.61%.

Insider Activity

In other news, CAO Stephen Higgins sold 14,277 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $69.50, for a total transaction of $992,251.50. Following the completion of the transaction, the chief accounting officer directly owned 54,618 shares of the company’s stock, valued at approximately $3,795,951. This represents a 20.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lydia Kennard sold 3,798 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $79.11, for a total value of $300,459.78. Following the transaction, the director directly owned 122,702 shares of the company’s stock, valued at $9,706,955.22. The trade was a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 102,848 shares of company stock valued at $7,911,621. 0.73% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Freeport-McMoRan

A number of large investors have recently modified their holdings of the stock. State Street Corp increased its stake in Freeport-McMoRan by 3.6% in the 2nd quarter. State Street Corp now owns 66,485,424 shares of the natural resource company’s stock worth $4,181,268,000 after buying an additional 2,300,416 shares in the last quarter. Bank of America Corp DE raised its position in shares of 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 during the last quarter. Wellington Management Group LLP raised its position in shares of 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 during the last quarter. Amundi raised its position in shares of Freeport-McMoRan by 10.5% during the second quarter. Amundi now owns 11,819,898 shares of the natural resource company’s stock valued at $743,353,000 after buying an additional 1,125,982 shares during the last quarter. Finally, Jupiter Topco LLC purchased a new position in shares of Freeport-McMoRan in the second quarter worth $739,890,000. Institutional investors own 80.77% of the company’s stock.

Trending Headlines about Freeport-McMoRan

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

Positive Sentiment: Freeport-McMoRan’s third-quarter results exceeded expectations, with earnings per share of roughly $0.81–$0.88 on $7.55 billion in revenue, supported by stronger copper economics and year-over-year revenue growth. The company’s Grasberg recovery is also advancing, which could improve production and cash flow over time. Freeport-McMoRan Q3 2026 Earnings
Positive Sentiment: Wells Fargo reportedly maintained a Buy view on FCX, while UBS retained its Buy rating despite reducing its price target to $85 from $88. The targets remain above the recent trading level, indicating analysts still see potential upside if copper prices and Grasberg operations remain favorable. Freeport-McMoRan Receives a Buy from Wells Fargo UBS Adjusts Freeport-McMoRan Price Target
Neutral Sentiment: FCX was included among non-ferrous mining stocks worth watching despite a weak near-term industry outlook. The list highlights the company’s growth potential but also underscores the challenging backdrop for metal producers. 5 Non-Ferrous Metal Mining Stocks to Watch
Negative Sentiment: Freeport reduced its copper-sales outlook even as Grasberg recovery progresses. That combination raises concerns about near-term production, shipment timing and the pace at which the mine will contribute to results. Freeport Trims Copper Sales Outlook
Negative Sentiment: UBS and Wells Fargo lowered their expectations for FCX’s share price, adding pressure after the stock’s strong run. A separate analysis argued that the anticipated Grasberg recovery may already be reflected in the valuation, with a relatively high earnings multiple leaving less room for disappointment. UBS Forecast for Freeport-McMoRan Freeport-McMoRan Q3 Analysis

About Freeport-McMoRan

(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.