Freeport-McMoRan (NYSE:FCX) Sets New 1-Year High on Analyst Upgrade

Freeport-McMoRan Inc. (NYSE:FCX)’s share price hit a new 52-week high during mid-day trading on Tuesday after CICC Research raised their price target on the stock from $50.40 to $64.40. CICC Research currently has an outperform rating on the stock. Freeport-McMoRan traded as high as $63.58 and last traded at $61.21, with a volume of 31583731 shares changing hands. The stock had previously closed at $60.41.

A number of other research firms have also commented on FCX. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Freeport-McMoRan in a research note on Wednesday, November 26th. Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $53.50 to $54.00 in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Freeport-McMoRan in a research note on Thursday, January 22nd. Johnson Rice lowered their target price on Freeport-McMoRan from $55.00 to $48.00 in a research note on Monday, September 29th. Finally, Citigroup boosted their target price on Freeport-McMoRan from $48.00 to $67.00 and gave the company a “buy” rating in a report on Monday, January 12th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.40.

Insider Activity at Freeport-McMoRan

In related news, CAO Ellie L. Mikes sold 9,572 shares of Freeport-McMoRan stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $47.66, for a total value of $456,201.52. Following the sale, the chief accounting officer directly owned 38,761 shares in the company, valued at $1,847,349.26. The trade was a 19.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Stephen T. Higgins sold 28,423 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $47.99, for a total value of $1,364,019.77. Following the completion of the transaction, the chief accounting officer owned 105,294 shares of the company’s stock, valued at $5,053,059.06. The trade was a 21.26% decrease in their position. The SEC filing for this sale provides additional information. 0.79% of the stock is owned by company insiders.

Key Headlines Impacting Freeport-McMoRan

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

• Positive Sentiment: Analyst upgrades from Scotiabank lifted the stock outlook and helped buying interest. Freeport-McMoRan (NYSE:FCX) Stock Price Expected to Rise, Scotiabank Analyst Says
• Positive Sentiment: CICC Research also raised its view, adding to the upgrade-driven momentum that traders are buying into. Freeport-McMoRan (NYSE:FCX) Stock Price Expected to Rise, CICC Research Analyst Says
• Positive Sentiment: Coverage of the upgrades pushed FCX to intraday strength and a fresh 52?week high, reinforcing momentum trading flows. Freeport-McMoRan (NYSE:FCX) Hits New 52-Week High on Analyst Upgrade
• Positive Sentiment: Freeport’s Q4 results beat estimates (Q4 EPS $0.47 vs. $0.28 est.; revenue $5.63B), showing leverage to higher copper prices and supporting cash?flow upside if prices hold. Freeport-McMoRan: What the Future Could Hold After a 70% Rebound
• Neutral Sentiment: Market narratives about a structural copper shortage (AI, electrification, shrinking supply) are enhancing sector interest and benefit pure?play copper names like FCX; this is a macro tailwind rather than company?specific news.
• Neutral Sentiment: Investor attention/flow: Zacks pieces highlight FCX as a momentum/trending stock, which can amplify short?term moves but does not change fundamentals. Here’s Why Freeport-McMoRan (FCX) is a Strong Momentum Stock
• Negative Sentiment: Operational risk remains: the Grasberg mudslide reduced output in 2025 and limits near?term volumes; production uncertainty can keep a premium on copper but also creates volatility for FCX results. Freeport-McMoRan: What the Future Could Hold After a 70% Rebound
• Negative Sentiment: Valuation and near?term copper risk: some forecasters (e.g., Goldman/S&P?cited views) expect pressure on copper near term and the consensus price target implies limited upside from current levels — meaning upside depends heavily on sustained commodity prices.

Hedge Funds Weigh In On Freeport-McMoRan

Several hedge funds have recently added to or reduced their stakes in FCX. Wellington Management Group LLP raised its holdings in Freeport-McMoRan by 190.9% in the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock valued at $1,431,326,000 after acquiring an additional 23,950,557 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Freeport-McMoRan by 89.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 17,569,169 shares of the natural resource company’s stock valued at $761,623,000 after purchasing an additional 8,292,873 shares during the period. Mizuho Markets Cayman LP purchased a new stake in shares of Freeport-McMoRan in the second quarter valued at $159,147,000. Crake Asset Management LLP increased its stake in Freeport-McMoRan by 60.6% in the second quarter. Crake Asset Management LLP now owns 9,522,673 shares of the natural resource company’s stock valued at $412,808,000 after purchasing an additional 3,593,050 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in Freeport-McMoRan by 289.0% during the third quarter. Voya Investment Management LLC now owns 3,844,504 shares of the natural resource company’s stock worth $150,781,000 after buying an additional 2,856,302 shares during the period. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Price Performance

The company has a 50-day moving average of $51.13 and a two-hundred day moving average of $45.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.29 and a quick ratio of 1.05. The stock has a market capitalization of $91.42 billion, a PE ratio of 42.17, a P/E/G ratio of 0.76 and a beta of 1.45.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 22nd. The natural resource company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.19. The company had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.42 billion. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. During the same quarter in the prior year, the company posted $0.31 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. Sell-side analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 19.87%.

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.