JPMorgan Chase & Co. Increases Freeport-McMoRan (NYSE:FCX) Price Target to $77.00

Freeport-McMoRan (NYSE:FCX) had its price target upped by equities researchers at JPMorgan Chase & Co. from $73.00 to $77.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the natural resource company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 25.33% from the company’s current price.

FCX has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Freeport-McMoRan in a research report on Friday, May 15th. Barclays started coverage on Freeport-McMoRan in a research report on Thursday, May 21st. They set an “overweight” rating and a $77.00 target price on the stock. Citigroup lowered their price target on shares of Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Friday, May 1st. BMO Capital Markets upped their price objective on Freeport-McMoRan from $68.00 to $78.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Finally, The Goldman Sachs Group cut their target price on shares of Freeport-McMoRan from $75.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.63.

Freeport-McMoRan Stock Up 1.5%

Shares of NYSE:FCX opened at $61.44 on Thursday. Freeport-McMoRan has a 12-month low of $35.15 and a 12-month high of $72.28. The company has a current ratio of 2.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $63.85 and a two-hundred day simple moving average of $61.66. The stock has a market capitalization of $88.32 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 0.62 and a beta of 1.37.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.10. The firm had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.Freeport-McMoRan’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. On average, research analysts anticipate that Freeport-McMoRan will post 2.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Freeport-McMoRan

Institutional investors and hedge funds have recently modified their holdings of the stock. Pinnacle Bancorp Inc. increased its stake in Freeport-McMoRan by 7.9% in the 1st 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 period. Steph & Co. lifted its holdings in Freeport-McMoRan by 43.7% during the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock valued at $29,000 after buying an additional 150 shares in the last quarter. Essex Bank boosted 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 valued at $829,000 after buying an additional 163 shares during the period. Leo Wealth LLC boosted its position in Freeport-McMoRan by 2.5% in the 4th quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company’s stock valued at $347,000 after buying an additional 170 shares during the period. Finally, Fiduciary Financial Group LLC grew its stake in Freeport-McMoRan by 2.6% in the 2nd quarter. Fiduciary Financial Group LLC now owns 6,788 shares of the natural resource company’s stock worth $427,000 after acquiring an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Key Headlines Impacting Freeport-McMoRan

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

• Positive Sentiment: Bank of America raised its price target on Freeport-McMoRan to $80 from $74 and kept a buy rating, while JPMorgan lifted its target to $77 and maintained an overweight view, signaling stronger Wall Street confidence in FCX’s upside. Freeport-McMoRan (NYSE:FCX) Given New $80.00 Price Target at Bank of America
• Positive Sentiment: Scotiabank also increased its FY2026 EPS estimate for FCX to $3.01 from $2.60 and reiterated a Sector Outperform rating, reinforcing the view that earnings expectations are improving. Freeport-McMoRan Inc. (NYSE:FCX)
• Positive Sentiment: Recent coverage notes that copper demand remains strong due to electrification, grid expansion, and data center growth, which is supportive for Freeport-McMoRan as a major copper producer. Freeport McMoRan (FCX) Faces Grasberg Output Pressure As Copper Demand Stays Strong
• Neutral Sentiment: Analysts continue to flag FCX as a closely watched materials stock, and several articles highlight valuation debates and fair-value estimates rather than a major new catalyst. Is Freeport-McMoRan (FCX) Stock Cheap After The 2026 Guidance Cut?
• Neutral Sentiment: Freeport-McMoRan’s board declared a $0.15 per share cash dividend, which may appeal to income investors but is not a major surprise for the stock. Freeport-McMoRan (FCX) Declared A Cash Dividend, Is It Still 19% Undervalued?
• Negative Sentiment: There are also ongoing concerns about output pressure at the Grasberg mine, which could limit near-term production even as demand stays firm. Freeport McMoRan (FCX) Faces Grasberg Output Pressure As Copper Demand Stays Strong

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.