Scotiabank Boosts Earnings Estimates for Freeport-McMoRan

Freeport-McMoRan Inc. (NYSE:FCX) – Scotiabank boosted their FY2026 EPS estimates for shares of Freeport-McMoRan in a research note issued to investors on Wednesday, March 19th. Scotiabank analyst O. Wowkodaw now forecasts that the natural resource company will earn $1.49 per share for the year, up from their previous estimate of $1.42. Scotiabank has a “Sector Perform” rating and a $45.00 price objective on the stock. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $1.68 per share.

FCX has been the subject of a number of other reports. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. raised shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $48.00 to $52.00 in a research note on Thursday, March 20th. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Thursday, March 6th. StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, March 20th. Finally, Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their price objective for the company from $40.00 to $48.00 in a report on Thursday, February 27th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and an average price target of $52.04.

Freeport-McMoRan Stock Up 3.5 %

Shares of Freeport-McMoRan stock opened at $43.08 on Monday. The firm has a market cap of $61.91 billion, a price-to-earnings ratio of 33.40, a P/E/G ratio of 0.87 and a beta of 1.87. The stock has a 50-day simple moving average of $38.15 and a 200-day simple moving average of $42.00. Freeport-McMoRan has a 52-week low of $33.98 and a 52-week high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%.

Institutional Trading of Freeport-McMoRan

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Asset Planning Inc bought a new stake in shares of Freeport-McMoRan in the fourth quarter valued at about $25,000. Mizuho Bank Ltd. bought a new stake in shares of Freeport-McMoRan in the 4th quarter worth approximately $26,000. Vision Financial Markets LLC acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth approximately $27,000. Laurel Wealth Advisors LLC increased its position in shares of Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 600 shares during the period. Finally, Roxbury Financial LLC acquired a new position in shares of Freeport-McMoRan in the fourth quarter valued at $28,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.