Freeport-McMoRan (NYSE:FCX) Shares Up 4.2% After Analyst Upgrade

Freeport-McMoRan Inc. (NYSE:FCX)’s stock price shot up 4.2% during mid-day trading on Friday after Scotiabank raised their price target on the stock from $47.00 to $63.00. Scotiabank currently has an outperform rating on the stock. Freeport-McMoRan traded as high as $56.71 and last traded at $56.5140. 19,259,769 shares were traded during trading, a decline of 15% from the average session volume of 22,678,590 shares. The stock had previously closed at $54.22.

Other equities analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Freeport-McMoRan in a research report on Wednesday, November 26th. Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Tuesday, September 30th. Royal Bank Of Canada dropped their price target on shares of Freeport-McMoRan from $54.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 1st. BNP Paribas Exane reduced their price objective on Freeport-McMoRan from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, December 5th. Finally, Raymond James Financial increased their price objective on Freeport-McMoRan from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, December 31st. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $51.73.

Insider Activity at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 28,423 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $47.99, for a total value of $1,364,019.77. Following the completion of the sale, the chief accounting officer directly owned 105,294 shares in the company, valued at $5,053,059.06. This represents a 21.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Ellie L. Mikes sold 9,572 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $47.66, for a total value of $456,201.52. Following the transaction, the chief accounting officer directly owned 38,761 shares of the company’s stock, valued at approximately $1,847,349.26. The trade was a 19.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.75% of the stock is owned by insiders.

Key Stories Impacting Freeport-McMoRan

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

• Positive Sentiment: Analyst upgrades and higher price targets from major banks (Scotiabank raised its target to $63; JPMorgan raised to $68) signal stronger analyst conviction and provide upside support for the stock. Scotiabank price target raised
• Positive Sentiment: Independent research and media pieces (Zacks, MSN/other outlets) highlight strong copper markets, supply tightness and robust demand as drivers for FCX’s growth outlook. Those narratives bolster investor enthusiasm for mining/copper exposure. Zacks: FCX is a strong growth stock
• Positive Sentiment: Options activity: notable call buying and heavy call-volume flows have been reported recently, consistent with bullish positioning by traders. Such flows can amplify short‑term upside. Call options activity reported
• Neutral Sentiment: Consensus broker ratings skew positive (overall “Buy”), reflecting broad analyst support but also setting expectations that could be sensitive to execution or commodity price moves. Consensus Buy from brokerages
• Negative Sentiment: Multiple law firms have filed or announced securities‑fraud class action suits and investor investigation notices against FCX (claims cover Feb 15, 2022–Sep 24, 2025). These filings create legal risk, potential defense costs and distraction that can weigh on sentiment. Levi & Korsinsky class action notice
• Negative Sentiment: Several plaintiff firms (Robbins Geller, Bragar Eagel & Squire, Faruqi & Faruqi, Kirby McInerney, Gross Law Firm, etc.) are soliciting lead‑plaintiff motions with a near‑term deadline (Jan. 12), increasing the probability of consolidated litigation and potential recovery claims. That timetable raises short‑term legal overhang. Robbins Geller / lead plaintiff deadline

Institutional Investors Weigh In On Freeport-McMoRan

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Callan Family Office LLC lifted its stake in Freeport-McMoRan by 229.9% in the 2nd quarter. Callan Family Office LLC now owns 26,983 shares of the natural resource company’s stock worth $1,170,000 after acquiring an additional 18,803 shares in the last quarter. New York Life Investment Management LLC increased its holdings in shares of Freeport-McMoRan by 11.8% in the 2nd quarter. New York Life Investment Management LLC now owns 215,058 shares of the natural resource company’s stock valued at $9,323,000 after purchasing an additional 22,766 shares during the period. Arrow Capital Pty Ltd lifted its position in shares of Freeport-McMoRan by 88.5% in the second quarter. Arrow Capital Pty Ltd now owns 113,100 shares of the natural resource company’s stock worth $4,903,000 after purchasing an additional 53,100 shares in the last quarter. Bourgeon Capital Management LLC lifted its position in shares of Freeport-McMoRan by 8.1% in the second quarter. Bourgeon Capital Management LLC now owns 331,549 shares of the natural resource company’s stock worth $14,373,000 after purchasing an additional 24,803 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC boosted its holdings in shares of Freeport-McMoRan by 5.7% during the third quarter. Foster Victor Wealth Advisors LLC now owns 383,488 shares of the natural resource company’s stock worth $15,213,000 after purchasing an additional 20,586 shares during the period. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

The stock has a market capitalization of $81.15 billion, a PE ratio of 39.80, a P/E/G ratio of 0.92 and a beta of 1.45. The company has a quick ratio of 1.19, a current ratio of 2.45 and a debt-to-equity ratio of 0.29. The stock’s 50-day moving average is $45.64 and its 200 day moving average is $43.84.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. Freeport-McMoRan had a net margin of 7.97% and a return on equity of 7.84%. The company had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $6.74 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th will be paid a $0.075 dividend. The ex-dividend date is Thursday, January 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. Freeport-McMoRan’s payout ratio is 21.13%.

About Freeport-McMoRan

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.