Zacks Research Issues Pessimistic Estimate for FCX Earnings

Freeport-McMoRan Inc. (NYSE:FCX) – Equities researchers at Zacks Research reduced their Q3 2026 earnings per share (EPS) estimates for shares of Freeport-McMoRan in a research note issued on Wednesday, October 7th. Zacks Research analyst Team now forecasts that the natural resource company will post earnings per share of $0.61 for the quarter, down from their previous estimate of $0.63. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $2.84 per share. Zacks Research also issued estimates for Freeport-McMoRan’s Q2 2027 earnings at $0.85 EPS, Q3 2027 earnings at $0.91 EPS, Q4 2027 earnings at $0.86 EPS, FY2027 earnings at $3.47 EPS, Q1 2028 earnings at $0.74 EPS, Q2 2028 earnings at $0.91 EPS, Q3 2028 earnings at $0.91 EPS and FY2028 earnings at $3.41 EPS.

Freeport-McMoRan (NYSE:FCX) last issued 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. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. The firm had revenue of $7.03 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the prior year, the business earned $0.54 earnings per share. Freeport-McMoRan’s revenue for the quarter was down 7.3% on a year-over-year basis.

A number of other research analysts also recently commented on FCX. Morgan Stanley increased their target price on Freeport-McMoRan from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday. Stifel Nicolaus lifted their price objective on shares of Freeport-McMoRan from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Scotiabank upped their target price on shares of Freeport-McMoRan from $67.00 to $77.00 and gave the company a “sector outperform” rating in a research report on Monday, June 15th. UBS Group boosted their price objective on Freeport-McMoRan from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Finally, Sanford C. Bernstein cut 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. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and an average target price of $75.67.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock opened at $71.93 on Thursday. The firm has a market cap of $103.29 billion, a PE ratio of 35.43, a PEG ratio of 0.71 and a beta of 1.39. The stock has a 50 day moving average of $71.41 and a 200 day moving average of $65.91. The company has a current ratio of 2.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. Freeport-McMoRan has a 12 month low of $38.54 and a 12 month high of $80.24.

Freeport-McMoRan Dividend Announcement

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

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 4,773 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $334,110.00. Following the completion of the transaction, the chief accounting officer directly owned 36,000 shares in the company, valued at approximately $2,520,000. The trade was a 11.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Stephen T. Higgins sold 14,277 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $69.50, for a total transaction of $992,251.50. Following the transaction, the chief accounting officer owned 54,618 shares of the company’s stock, valued at approximately $3,795,951. This trade represents a 20.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 110,398 shares of company stock valued at $8,387,271 in the last ninety days. Company insiders own 0.73% of the company’s stock.

Institutional Trading of Freeport-McMoRan

A number of institutional investors have recently made changes to their positions in the business. American National Bank & Trust increased its position in Freeport-McMoRan by 5.5% during the 3rd quarter. American National Bank & Trust now owns 20,811 shares of the natural resource company’s stock valued at $1,457,000 after buying an additional 1,081 shares in the last quarter. Crumly & Associates Inc. grew its stake in shares of Freeport-McMoRan by 5.9% during the third quarter. Crumly & Associates Inc. now owns 4,648 shares of the natural resource company’s stock worth $325,000 after acquiring an additional 259 shares during the last quarter. Moody National Bank Trust Division increased its holdings in shares of Freeport-McMoRan by 6.1% during the third quarter. Moody National Bank Trust Division now owns 10,849 shares of the natural resource company’s stock valued at $759,000 after acquiring an additional 627 shares in the last quarter. Iowa State Bank boosted its stake in Freeport-McMoRan by 50.7% in the 3rd quarter. Iowa State Bank now owns 50,144 shares of the natural resource company’s stock worth $3,510,000 after purchasing an additional 16,868 shares in the last quarter. Finally, Eleva Capital SAS grew its position in Freeport-McMoRan by 638.9% during the 3rd quarter. Eleva Capital SAS now owns 16,684 shares of the natural resource company’s stock worth $1,168,000 after purchasing an additional 14,426 shares during the last quarter. Institutional investors and hedge funds 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: Analysts raised their valuation targets. JPMorgan increased its target from $77 to $92 and maintained an “overweight” rating. Wells Fargo also raised its target from $70 to $87 while keeping an “overweight” rating. Morgan Stanley lifted its target from $70 to $75, although it retained an “equal weight” rating.
• Positive Sentiment: Copper’s growth outlook is supporting FCX. Deutsche Bank expects copper’s rally to continue and sees a potential move to $10 per pound, citing strong demand from artificial intelligence infrastructure and electric vehicles. As a major copper producer, Freeport-McMoRan could benefit from higher realized prices and stronger cash flow. Three stocks to buy as Deutsche Bank says copper could hit $10 a pound
• Positive Sentiment: Earnings expectations remain constructive. Zacks highlighted FCX’s history of exceeding quarterly estimates and said the company currently has factors that could support another earnings beat. Will Freeport-McMoRan Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: Market commentary continues to identify FCX as a potential opportunity among copper stocks, including through options strategies, if commodity volatility remains favorable. 3 Sectors Where Volatility Is Creating Entry Points, Not Exit Signals
• Neutral Sentiment: FCX has become a heavily watched stock on Zacks, but the related coverage is primarily an investor-interest and valuation discussion rather than a new company catalyst. Is Trending Stock Freeport-McMoRan a Buy Now?
• Negative Sentiment: Reports warn that gold shipment deferrals could delay revenue or cash generation, while steady copper production may limit near-term volume growth. These operational timing issues could offset some of the benefit from higher copper prices. How Gold Shipment Deferrals and Steady Copper Output Could Shape Freeport-McMoRan’s Risk Profile

About Freeport-McMoRan

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.