FY2026 Earnings Estimate for FCX Issued By Erste Group Bank

Freeport-McMoRan Inc. (NYSE:FCX) – Investment analysts at Erste Group Bank raised their FY2026 earnings per share estimates for shares of Freeport-McMoRan in a report issued on Thursday, October 8th. Erste Group Bank analyst H. Engel now forecasts that the natural resource company will post earnings per share of $3.10 for the year, up from their previous estimate of $3.05. Erste Group Bank has a “Buy” rating on the stock. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $2.90 per share.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.12. The firm had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $6.62 billion. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.54 EPS.

Several other research analysts have also recently weighed in on FCX. BMO Capital Markets boosted their price target on shares of Freeport-McMoRan from $78.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, September 29th. BNP Paribas Exane increased their price objective on shares of Freeport-McMoRan from $71.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Weiss Ratings raised shares of Freeport-McMoRan from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Morgan Stanley lifted their target price on shares of Freeport-McMoRan from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 7th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Freeport-McMoRan in a research note on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.22.

Freeport-McMoRan Stock Down 3.8%

FCX opened at $69.65 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 0.92. The company’s 50-day moving average is $72.09 and its 200 day moving average is $66.50. Freeport-McMoRan has a fifty-two week low of $38.54 and a fifty-two week high of $80.24. The firm has a market capitalization of $100.01 billion, a P/E ratio of 34.31, a PEG ratio of 0.68 and a beta of 1.39.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be paid a dividend of $0.0750 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Thursday, October 15th. Freeport-McMoRan’s payout ratio is presently 14.78%.

Insiders Place Their Bets

In related news, EVP Douglas N. Currault II sold 80,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $78.56, for a total transaction of $6,284,800.00. Following the completion of the transaction, the executive vice president owned 211,016 shares in the company, valued at approximately $16,577,416.96. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lydia H. Kennard sold 3,798 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $79.11, for a total transaction of $300,459.78. Following the transaction, the director owned 122,702 shares of the company’s stock, valued at approximately $9,706,955.22. The trade was a 3.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 110,398 shares of company stock valued at $8,387,271. 0.73% of the stock is currently owned by company insiders.

Institutional Trading of Freeport-McMoRan

Several hedge funds have recently added to or reduced their stakes in FCX. State Street Corp lifted its holdings in Freeport-McMoRan by 3.6% during the second quarter. State Street Corp now owns 66,485,424 shares of the natural resource company’s stock valued at $4,181,268,000 after purchasing an additional 2,300,416 shares during the last quarter. Bank of America Corp DE boosted its position in Freeport-McMoRan by 20.0% during the first quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company’s stock worth $2,489,069,000 after purchasing an additional 7,044,775 shares during the period. Wellington Management Group LLP boosted its position in Freeport-McMoRan by 13.8% during the second quarter. Wellington Management Group LLP now owns 14,918,066 shares of the natural resource company’s stock worth $938,197,000 after purchasing an additional 1,810,698 shares during the period. Amundi boosted its position in Freeport-McMoRan by 10.5% during the second quarter. Amundi now owns 11,819,898 shares of the natural resource company’s stock worth $743,353,000 after purchasing an additional 1,125,982 shares during the period. Finally, Jupiter Topco LLC purchased a new position in shares of Freeport-McMoRan in the second quarter worth about $739,890,000. Institutional investors own 80.77% of the company’s stock.

Key Freeport-McMoRan News

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

• Positive Sentiment: Higher earnings forecasts: Scotiabank raised its FY2026 EPS estimate to $3.35 from $3.06 and its FY2027 estimate to $2.86 from $2.62. Erste Group also increased its FY2026 forecast to $3.10 and FY2027 forecast to $4.32; Erste maintains a “Buy” rating. The revisions suggest analysts see potential for stronger copper prices, production, or profitability. MarketBeat analyst estimate updates
• Positive Sentiment: Potentially tighter copper supply: A halt at Grasberg could restrict copper production and tighten global supply, potentially supporting copper prices and Freeport-McMoRan’s realized pricing. However, the benefit depends on how long the disruption lasts and the company’s ability to restore operations. Does the Grasberg Halt Tighten Copper Supply?
• Neutral Sentiment: Dividend remains unchanged: Freeport-McMoRan is scheduled to pay a quarterly dividend of $0.07 on November 2. The payment supports shareholder returns but is unlikely to be a major catalyst given its modest yield. Freeport-McMoRan quarterly dividend
• Negative Sentiment: Technical momentum is fading: Commentary that FCX’s rally appears tired and that consolidation may be likely is encouraging investors to lock in gains after the stock’s strong run toward its 52-week high. Freeport-McMoRan rally looks tired
• Negative Sentiment: Operational uncertainty and broader-market weakness: The Grasberg halt raises concerns about production, costs, and the timing of any recovery. FCX also underperformed the broader market in the latest session, indicating risk reduction in a volatile, high-beta mining stock. Freeport-McMoRan falls more steeply than the broader market

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc (NYSE: FCX) is a leading international mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Copper is its principal product and is used in electrical systems, construction, transportation, renewable energy infrastructure and other industrial applications. The company also produces copper cathodes and concentrates, gold, molybdenum products and certain quantities of silver and other byproducts.

Freeport-McMoRan operates a portfolio of mining and processing assets in North America, South America and Indonesia.