Freeport-McMoRan (NYSE:FCX) Stock Price Expected to Rise, Bank of America Analyst Says

Freeport-McMoRan (NYSE:FCX) had its price objective raised by equities researchers at Bank of America from $74.00 to $80.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the natural resource company’s stock. Bank of America‘s price target indicates a potential upside of 30.21% from the company’s current price.

A number of other research firms have also recently commented on FCX. Sanford C. Bernstein boosted their price objective on Freeport-McMoRan from $53.50 to $58.50 and gave the company a “market perform” rating in a research report on Wednesday, June 10th. CICC Research reduced their price objective on shares of Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating for the company in a research report on Tuesday, April 28th. Barclays began coverage on Freeport-McMoRan in a report on Thursday, May 21st. They issued an “overweight” rating and a $77.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Freeport-McMoRan in a report on Friday, May 15th. Finally, UBS Group lifted their price target on Freeport-McMoRan from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.63.

Freeport-McMoRan Trading Up 1.5%

FCX stock opened at $61.44 on Thursday. The company’s 50-day simple moving average is $63.85 and its 200-day simple moving average is $61.66. 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 has a 52-week low of $35.15 and a 52-week high of $72.28. The firm has a market cap of $88.32 billion, a P/E ratio of 32.68, a PEG ratio of 0.62 and a beta of 1.37.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, beating 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 revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 EPS. As a group, equities analysts forecast that Freeport-McMoRan will post 2.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Freeport-McMoRan

A number of institutional investors have recently bought and sold shares of the company. Family Wealth Partners LLC purchased a new stake in shares of Freeport-McMoRan in the 2nd quarter valued at approximately $208,000. Tema ETFs LLC raised its position in shares of Freeport-McMoRan by 10.4% during the 2nd quarter. Tema ETFs LLC now owns 27,662 shares of the natural resource company’s stock valued at $1,740,000 after buying an additional 2,610 shares during the period. Fiduciary Financial Group LLC raised its position in shares of Freeport-McMoRan by 2.6% during the 2nd quarter. Fiduciary Financial Group LLC now owns 6,788 shares of the natural resource company’s stock valued at $427,000 after buying an additional 173 shares during the period. Doliver Advisors LP lifted its holdings in Freeport-McMoRan by 13.6% in the second quarter. Doliver Advisors LP now owns 12,925 shares of the natural resource company’s stock valued at $813,000 after acquiring an additional 1,545 shares during the last quarter. Finally, Ausbil Investment Management Ltd lifted its holdings in Freeport-McMoRan by 102.5% in the second quarter. Ausbil Investment Management Ltd now owns 1,000 shares of the natural resource company’s stock valued at $61,000 after acquiring an additional 41,500 shares during the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

More Freeport-McMoRan News

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.