Freeport-McMoRan (NYSE:FCX) Trading Up 2.3% – Here’s What Happened

Freeport-McMoRan Inc. (NYSE:FCX)’s share price shot up 2.3% during trading on Friday . The company traded as high as $61.01 and last traded at $60.60. 20,084,069 shares were traded during trading, a decline of 19% from the average session volume of 24,820,914 shares. The stock had previously closed at $59.22.

Key Stories Impacting Freeport-McMoRan

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

• Positive Sentiment: Zacks Research materially raised EPS forecasts across several quarters and years — upgrades include higher Q4 2026/Q4 2027 and FY2026/FY2027 estimates (Zacks now sees FY2027 at ~$2.71 and FY2028 at ~$2.84), signaling analysts expect stronger earnings leverage if commodity prices hold.
• Positive Sentiment: Major price‑target bump: an analyst raise lifted FCX’s target (reported +10.45% to $62.23), which supports near‑term upside and helps explain bullish flow into the stock. Freeport-McMoRan (FCX) price target increased by 10.45% to 62.23
• Positive Sentiment: Commodity backdrop: coverage highlights Freeport benefiting from record/high copper prices and management’s focus on disciplined growth — a supportive macro/industry tailwind for revenue and margins if prices persist. Freeport-McMoRan Rides Record Copper Prices With Disciplined Growth Focus
• Neutral Sentiment: Valuation and earnings context: analysts and writeups are debating valuation after the recent run and the latest quarterly results — supportive earnings beats but valuations now reflect optimism, so outperformance may require continued strong copper and execution. Freeport-McMoRan (FCX) Valuation Check After Earnings And Copper Demand Optimism
• Negative Sentiment: Cautionary note after the rally: a recent analysis warns that despite a ~47% six‑month gain, higher operating costs and lower volumes in some periods could temper upside and argues for caution on further rallies absent improving fundamentals. Should You Buy, Sell or Hold FCX Stock After a 47% Rally in 6 Months?

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FCX shares. Citigroup lifted their price target on shares of Freeport-McMoRan from $48.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Freeport-McMoRan in a report on Thursday, January 22nd. BMO Capital Markets boosted their target price on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 14th. Wells Fargo & Company increased their target price on Freeport-McMoRan from $55.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. Finally, HSBC lifted their price target on Freeport-McMoRan from $48.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.40.

Freeport-McMoRan Stock Performance

The company has a current ratio of 2.29, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The stock has a market cap of $87.02 billion, a price-to-earnings ratio of 40.13, a PEG ratio of 0.72 and a beta of 1.47. The stock’s 50 day moving average is $53.65 and its two-hundred day moving average is $46.06.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 22nd. The natural resource company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.19. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The company had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same period in the previous year, the business posted $0.31 earnings per share. Freeport-McMoRan’s quarterly revenue was down 1.5% on a year-over-year basis. Analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Thursday, January 15th. This represents a $0.30 annualized dividend and a yield of 0.5%. Freeport-McMoRan’s dividend payout ratio is currently 19.87%.

Insider Activity at Freeport-McMoRan

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

Institutional Trading of Freeport-McMoRan

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Great Lakes Advisors LLC grew its stake in Freeport-McMoRan by 8.0% in the 3rd quarter. Great Lakes Advisors LLC now owns 1,551,258 shares of the natural resource company’s stock valued at $60,840,000 after acquiring an additional 115,285 shares during the last quarter. Callan Family Office LLC raised its position in Freeport-McMoRan by 229.9% during the second 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 during the last quarter. New York Life Investment Management LLC raised its position in Freeport-McMoRan by 11.8% during the second quarter. New York Life Investment Management LLC now owns 215,058 shares of the natural resource company’s stock worth $9,323,000 after acquiring an additional 22,766 shares during the last quarter. Summit Global Investments lifted its holdings in shares of Freeport-McMoRan by 278.4% in the third quarter. Summit Global Investments now owns 46,157 shares of the natural resource company’s stock valued at $1,810,000 after purchasing an additional 33,959 shares in the last quarter. Finally, Arrow Capital Pty Ltd grew 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 valued at $4,903,000 after purchasing an additional 53,100 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

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.