Freeport-McMoRan (NYSE:FCX) Price Target Raised to $80.00 at Bank of America

Freeport-McMoRan (NYSE:FCX) had its target price lifted by analysts at Bank of America from $74.00 to $80.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the natural resource company’s stock. Bank of America‘s target price would indicate a potential upside of 39.26% from the company’s current price.

Several other analysts also recently issued reports on FCX. Wall Street Zen raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Citigroup decreased their target price on Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Friday, May 1st. BNP Paribas Exane lifted their price target on Freeport-McMoRan from $71.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Weiss Ratings lowered Freeport-McMoRan from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Freeport-McMoRan in a research note on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and a consensus target price of $68.63.

Freeport-McMoRan Trading Down 3.2%

NYSE:FCX opened at $57.45 on Thursday. The stock has a fifty day simple moving average of $63.71 and a 200 day simple moving average of $61.58. The firm has a market capitalization of $82.58 billion, a price-to-earnings ratio of 30.56, a price-to-earnings-growth ratio of 0.61 and a beta of 1.37. Freeport-McMoRan has a 1-year low of $35.15 and a 1-year high of $72.28. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same period last year, the firm posted $0.24 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. Sell-side analysts forecast that Freeport-McMoRan will post 2.59 earnings per share for the current year.

Hedge Funds Weigh In On Freeport-McMoRan

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. lifted its position in shares of Freeport-McMoRan by 7.9% in the first quarter. Pinnacle Bancorp Inc. now owns 2,011 shares of the natural resource company’s stock worth $118,000 after buying an additional 147 shares during the last quarter. Steph & Co. boosted its position in shares of Freeport-McMoRan by 43.7% in the first quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock valued at $29,000 after acquiring an additional 150 shares during the period. Essex Bank grew its position in Freeport-McMoRan by 1.2% in the 1st quarter. Essex Bank now owns 14,104 shares of the natural resource company’s stock worth $829,000 after purchasing an additional 163 shares during the last quarter. Leo Wealth LLC grew its position in Freeport-McMoRan by 2.5% during the fourth quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company’s stock worth $347,000 after buying an additional 170 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. grew its position in Freeport-McMoRan by 0.9% during the first quarter. Klein Pavlis & Peasley Financial Inc. now owns 18,674 shares of the natural resource company’s stock worth $1,098,000 after buying an additional 175 shares in the last quarter. 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: Scotiabank raised its FY2026 EPS estimate for Freeport-McMoRan to $3.01 from $2.60, well above the current consensus of $2.59, while maintaining a Sector Outperform rating and a $77 price target.
• Positive Sentiment: Morgan Stanley lifted its price target on FCX to $70 from $66, reinforcing the view that the stock still has meaningful upside from current levels.
• Positive Sentiment: Articles focused on copper demand highlighted strong fundamentals from electrification, grid expansion, and data center growth, which support Freeport-McMoRan’s core copper business even as supply remains tight.
• Neutral Sentiment: Freeport-McMoRan declared a $0.15 per share cash dividend, which may attract income investors, but the headline was mostly framed as a valuation question rather than a clear catalyst. Freeport-McMoRan (FCX) Declared A Cash Dividend, Is It Still 19% Undervalued?
• Negative Sentiment: Reports noted output pressure at the key Grasberg mine, which could weigh on near-term production and raise concern about supply execution. Freeport McMoran (FCX) Faces Grasberg Output Pressure As Copper Demand Stays Strong
• Negative Sentiment: Recent commentary also suggested broader commodity forecasters are turning more cautious on metals, which could cap enthusiasm for FCX if copper prices soften.

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.