Freeport-McMoRan (NYSE:FCX) Stock Gets Price Target Reduction from Wells Fargo & Company

Posted by Brenda Bartman on Oct 31st, 2026

Freeport-McMoRan (NYSE:FCX – Free Report) had its price target decreased by Wells Fargo & Company from $87.00 to $79.00 in a research note released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the natural resource company’s stock.

A number of other analysts have also recently issued reports on FCX. Sanford C. Bernstein cut their price objective on Freeport-McMoRan from $50.00 to $47.00 and set a “market perform” rating for the company in a research report on Wednesday, September 9th. Freedom Broker cut Freeport-McMoRan from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Bank of America raised their price target on Freeport-McMoRan from $74.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. lifted their price objective on shares of Freeport-McMoRan from $77.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Finally, Weiss Ratings raised shares of Freeport-McMoRan from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Freeport-McMoRan currently has an average rating of “Moderate Buy” and a consensus target price of $75.67.

Check Out Our Latest Research Report on FCX

Freeport-McMoRan Stock Performance

Shares of NYSE FCX opened at $62.44 on Wednesday. The stock has a 50 day moving average price of $71.59 and a 200 day moving average price of $65.24. Freeport-McMoRan has a 52 week low of $38.54 and a 52 week high of $80.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.92 and a current ratio of 2.02. The stock has a market capitalization of $89.66 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 0.61 and a beta of 1.39.

Freeport-McMoRan (NYSE:FCX – Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The natural resource company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.06. The firm had revenue of $7.55 billion for 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%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 EPS. Analysts predict that Freeport-McMoRan will post 3.04 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. Freeport-McMoRan’s dividend payout ratio is currently 12.61%.

Insider Buying and Selling at Freeport-McMoRan

In related news, CAO Ellie Mikes sold 4,773 shares of Freeport-McMoRan stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $70.00, for a total transaction of $334,110.00. Following the sale, the chief accounting officer directly owned 36,000 shares in the company, valued at $2,520,000. This trade represents a 11.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lydia Kennard sold 3,798 shares of Freeport-McMoRan stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $79.11, for a total transaction of $300,459.78. Following the transaction, the director owned 122,702 shares in the company, valued at approximately $9,706,955.22. This trade represents a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 102,848 shares of company stock worth $7,911,621 in the last 90 days. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Freeport-McMoRan

A number of institutional investors have recently modified their holdings of the company. Fifth Third Bancorp lifted its position in Freeport-McMoRan by 34.5% in the 1st quarter. Fifth Third Bancorp now owns 1,062,916 shares of the natural resource company’s stock worth $62,478,000 after buying an additional 272,726 shares during the last quarter. Iowa State Bank raised its stake in shares of Freeport-McMoRan by 50.7% during the third quarter. Iowa State Bank now owns 50,144 shares of the natural resource company’s stock worth $3,510,000 after acquiring an additional 16,868 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Freeport-McMoRan by 4.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,687,524 shares of the natural resource company’s stock worth $169,018,000 after acquiring an additional 117,888 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Freeport-McMoRan by 1.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,970,872 shares of the natural resource company’s stock worth $627,068,000 after acquiring an additional 141,738 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of Freeport-McMoRan by 17.1% in the 2nd quarter. HighTower Advisors LLC now owns 1,249,858 shares of the natural resource company’s stock worth $78,604,000 after acquiring an additional 182,714 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Key Freeport-McMoRan News

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

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.