Royal Bank Of Canada Raises Freeport-McMoRan (NYSE:FCX) Price Target to $73.00

Posted by Grant Hamersma on Jul 24th, 2026

Freeport-McMoRan (NYSE:FCX – Get Free Report) had its price objective raised by investment analysts at Royal Bank Of Canada from $70.00 to $73.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the natural resource company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 19.05% from the company’s current price.

A number of other research firms have also commented on FCX. Barclays raised their price objective on shares of Freeport-McMoRan from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Wells Fargo & Company restated an “overweight” rating on shares of Freeport-McMoRan in a research report on Friday. Raymond James Financial decreased their price target on shares of Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. JPMorgan Chase & Co. lifted their price objective on Freeport-McMoRan from $73.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, Jefferies Financial Group lifted their price target on Freeport-McMoRan from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and an average target price of $70.18.

View Our Latest Stock Analysis on FCX

Freeport-McMoRan Stock Performance

Shares of FCX traded down $2.18 during mid-day trading on Friday, hitting $61.32. The stock had a trading volume of 2,726,924 shares, compared to its average volume of 17,517,666. The firm has a market cap of $88.15 billion, a P/E ratio of 32.69, a PEG ratio of 0.64 and a beta of 1.37. The business has a fifty day moving average price of $63.59 and a 200-day moving average price of $62.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. Freeport-McMoRan has a 52 week low of $35.15 and a 52 week high of $72.28.

Freeport-McMoRan (NYSE:FCX – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The natural resource company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.12. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The firm had revenue of $7.03 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, equities research analysts expect that Freeport-McMoRan will post 2.72 EPS for the current year.

Institutional Investors Weigh In On Freeport-McMoRan

Several institutional investors have recently bought and sold shares of FCX. Arrowstreet Capital Limited Partnership increased its stake in shares of Freeport-McMoRan by 98.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 19,973,108 shares of the natural resource company’s stock worth $1,014,434,000 after buying an additional 9,924,573 shares during the period. Franklin Resources Inc. boosted its stake in shares of Freeport-McMoRan by 31.2% during the 4th quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company’s stock valued at $1,897,202,000 after purchasing an additional 8,891,743 shares in the last quarter. Amundi increased its position in shares of Freeport-McMoRan by 102.5% during the fourth quarter. Amundi now owns 14,211,579 shares of the natural resource company’s stock valued at $721,806,000 after buying an additional 7,192,955 shares during the period. Bank of America Corp DE lifted its holdings in Freeport-McMoRan by 20.0% in 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 buying an additional 7,044,775 shares during the period. Finally, Janus Henderson Group PLC boosted its position in Freeport-McMoRan by 101.2% during the 1st quarter. Janus Henderson Group PLC now owns 11,498,267 shares of the natural resource company’s stock valued at $675,896,000 after acquiring an additional 5,784,156 shares in the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Key Freeport-McMoRan News

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

Positive Sentiment: FCX reported Q2 adjusted EPS of $0.74, above estimates of $0.62, on revenue of $7.03 billion versus expectations of about $6.6 billion, signaling better-than-expected operating performance. Freeport-McMoRan earnings transcript
Positive Sentiment: Higher realized metal prices helped offset lower copper and gold volumes, and reports highlighted a sharp increase in net income, reinforcing the earnings beat. FCX’s Q2 Earnings and Revenues Top Estimates on Higher Metal Prices
Positive Sentiment: Stifel Nicolaus raised its price target on FCX to $80, suggesting at least one analyst sees more upside after the results. Stifel Nicolaus Raises Freeport-McMoRan Price Target
Neutral Sentiment: Management’s update pointed to a softer near-term copper sales outlook, including a weaker Q3 view, which may temper enthusiasm even after the earnings beat. FCX Stock Falls Amid Soft Q3 Outlook As Copper Price Slips
Negative Sentiment: Lower operating rates at Grasberg weighed on revenue and contributed to investor concern about production momentum, helping explain why the stock has been under pressure despite the earnings beat. Freeport-McMoRan slips as lower Grasberg operating rates weigh on Q2 revenue

Freeport-McMoRan Company Profile

(Get Free Report)

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.