Freeport-McMoRan (NYSE:FCX) Price Target Raised to $75.00

Freeport-McMoRan (NYSE:FCX) had its price objective increased by stock analysts at Morgan Stanley from $70.00 to $75.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the natural resource company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 4.70% from the stock’s previous close.

FCX has been the subject of several other reports. Wall Street Zen lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Sanford C. Bernstein lowered their target price on Freeport-McMoRan from $50.00 to $47.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 9th. Freedom Broker cut shares of Freeport-McMoRan from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 3rd. BMO Capital Markets lifted their price objective 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. Finally, JPMorgan Chase & Co. increased their price target on Freeport-McMoRan from $73.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $74.92.

Freeport-McMoRan Trading Down 1.3%

Shares of NYSE:FCX traded down $0.93 during trading on Wednesday, reaching $71.63. The stock had a trading volume of 1,583,373 shares, compared to its average volume of 16,265,782. Freeport-McMoRan has a 52 week low of $38.54 and a 52 week high of $80.24. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 2.07. The firm’s fifty day moving average is $71.17 and its 200 day moving average is $65.78. The stock has a market cap of $102.86 billion, a price-to-earnings ratio of 35.29, a P/E/G ratio of 0.71 and a beta of 1.39.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.12. The business had revenue of $7.03 billion during 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%. Freeport-McMoRan’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 earnings per share. As a group, equities analysts forecast that Freeport-McMoRan will post 2.84 EPS for the current fiscal year.

Insider Buying and Selling

In other Freeport-McMoRan news, CAO Stephen Higgins sold 14,277 shares of Freeport-McMoRan stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $69.50, for a total transaction of $992,251.50. Following the completion of the transaction, the chief accounting officer owned 54,618 shares of the company’s stock, valued at $3,795,951. The trade was a 20.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Douglas Currault, II sold 80,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 211,016 shares of the company’s stock, valued at approximately $16,577,416.96. This represents a 27.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 110,398 shares of company stock worth $8,387,271 over the last quarter. 0.73% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Freeport-McMoRan

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp increased its stake in Freeport-McMoRan by 34.5% in the 1st quarter. Fifth Third Bancorp now owns 1,062,916 shares of the natural resource company’s stock worth $62,478,000 after acquiring an additional 272,726 shares during the last quarter. Iowa State Bank boosted its position in shares of Freeport-McMoRan by 50.7% during the 3rd quarter. Iowa State Bank now owns 50,144 shares of the natural resource company’s stock valued at $3,510,000 after acquiring an additional 16,868 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Freeport-McMoRan by 1.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,970,872 shares of the natural resource company’s stock valued at $627,068,000 after purchasing an additional 141,738 shares in the last quarter. HighTower Advisors LLC grew its stake in Freeport-McMoRan by 17.1% in the 2nd quarter. HighTower Advisors LLC now owns 1,249,858 shares of the natural resource company’s stock worth $78,604,000 after buying an additional 182,714 shares in the last quarter. Finally, Robinhood Asset Management LLC bought a new stake in shares of Freeport-McMoRan during the 2nd quarter worth $16,746,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Key Stories Impacting Freeport-McMoRan

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

• Positive Sentiment: Wells Fargo raised its price target to $87 from $70 and maintained an Overweight rating, implying roughly 20% upside from the referenced share price. The revision provides a near-term sentiment boost and reflects greater confidence in copper prices and Freeport’s operating outlook. Wells Fargo Adjusts Price Target on Freeport-McMoRan to $87 From $70, Maintains Overweight Rating
• Positive Sentiment: Deutsche Bank sees copper prices potentially reaching $10 per pound, citing aggressive demand from AI and electric vehicles. A sustained copper rally would generally benefit FCX through higher realized prices, cash flow and potentially stronger earnings. Three stocks to buy as Deutsche Bank says copper could hit $10 a pound
• Positive Sentiment: Analysts are highlighting Freeport-McMoRan’s history of earnings surprises and the possibility of another beat in its next quarterly report. Expectations for stronger-than-consensus results could support the stock ahead of earnings, although this remains a forecast rather than a confirmed result. Will Freeport-McMoRan Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: A trading-focused article identifies FCX as a relatively established way to gain copper exposure and suggests the stock may still have room to catch up with elevated copper prices. However, it also emphasizes that volatility and copper-price movements remain key risks. 3 Sectors Where Volatility Is Creating Entry Points, Not Exit Signals
• Negative Sentiment: Reports are examining how gold shipment deferrals and steady copper production could shape FCX’s risk profile. Any delays in gold shipments could pressure near-term revenue or cash flow, while steady—rather than rising—copper output may limit the benefit of higher prices. How Gold Shipment Deferrals and Steady Copper Output Could Shape Freeport-McMoRan’s Risk Profile

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.