What is Zacks Research’s Forecast for FCX FY2026 Earnings?

Freeport-McMoRan Inc. (NYSE:FCX) – Investment analysts at Zacks Research lowered their FY2026 earnings per share (EPS) estimates for shares of Freeport-McMoRan in a research report issued to clients and investors on Wednesday, October 7th. Zacks Research analyst Team now anticipates that the natural resource company will post earnings per share of $2.50 for the year, down from their previous estimate of $2.52. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $2.87 per share. Zacks Research also issued estimates for Freeport-McMoRan’s Q1 2027 earnings at $0.84 EPS.

Several other research analysts also recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Freeport-McMoRan from $78.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, September 29th. BNP Paribas Exane upped their price objective on shares of Freeport-McMoRan from $71.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. Freedom Broker cut Freeport-McMoRan from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Wall Street Zen downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Sanford C. Bernstein lowered their price objective on Freeport-McMoRan from $50.00 to $47.00 and set a “market perform” rating for the company in a research note on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $76.22.

Freeport-McMoRan Stock Down 0.9%

Shares of NYSE:FCX opened at $71.19 on Friday. The company has a market capitalization of $102.24 billion, a price-to-earnings ratio of 35.07, a price-to-earnings-growth ratio of 0.69 and a beta of 1.39. The company has a 50 day moving average of $71.56 and a two-hundred day moving average of $66.05. Freeport-McMoRan has a 52-week low of $38.54 and a 52-week high of $80.24. The company has a quick ratio of 0.92, a current ratio of 2.07 and a debt-to-equity ratio of 0.25.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, July 23rd. The natural resource company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.62 by $0.12. The firm had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.62 billion. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%.Freeport-McMoRan’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 EPS.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. State Street Corp lifted its stake in Freeport-McMoRan by 3.6% during the second quarter. State Street Corp now owns 66,485,424 shares of the natural resource company’s stock worth $4,181,268,000 after purchasing an additional 2,300,416 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Freeport-McMoRan by 20.0% in the 1st quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company’s stock valued at $2,489,069,000 after buying an additional 7,044,775 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Freeport-McMoRan by 98.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 19,973,108 shares of the natural resource company’s stock valued at $1,014,434,000 after buying an additional 9,924,573 shares during the period. Wellington Management Group LLP grew its position in shares of Freeport-McMoRan by 13.8% during the 2nd quarter. Wellington Management Group LLP now owns 14,918,066 shares of the natural resource company’s stock valued at $938,197,000 after buying an additional 1,810,698 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Freeport-McMoRan by 28.9% during the 4th quarter. Victory Capital Management Inc. now owns 17,366,596 shares of the natural resource company’s stock valued at $882,050,000 after buying an additional 3,894,872 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Insider Activity at Freeport-McMoRan

In related news, EVP Douglas N. Currault II sold 80,000 shares of Freeport-McMoRan stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $78.56, for a total value of $6,284,800.00. Following the completion of the transaction, the executive vice president directly owned 211,016 shares in the company, valued at approximately $16,577,416.96. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Stephen T. Higgins sold 14,277 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $69.50, for a total value of $992,251.50. Following the completion of the sale, the chief accounting officer directly owned 54,618 shares of the company’s stock, valued at approximately $3,795,951. This represents a 20.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 110,398 shares of company stock worth $8,387,271. Company insiders own 0.73% of the company’s stock.

Freeport-McMoRan Announces Dividend

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

Freeport-McMoRan News Summary

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

• Positive Sentiment: Higher price targets support the stock: JPMorgan raised its target to $92 from $77 and maintained an “overweight” rating. Wells Fargo also lifted its target to $87 from $70 while keeping an “overweight” rating. Wells Fargo Adjusts Price Target
• Positive Sentiment: Potentially stronger copper demand is a catalyst: Deutsche Bank reportedly expects copper could reach $10 per pound, driven by artificial-intelligence infrastructure and electric-vehicle demand. Higher copper prices would generally improve Freeport-McMoRan’s realized pricing, revenue and cash flow. Copper Could Hit $10 a Pound
• Neutral Sentiment: Analyst attention remains elevated: FCX was highlighted in materials-sector research and appeared among stocks drawing significant investor interest. These reports may increase visibility but did not provide a clear new fundamental catalyst. Analysts Offer Insights on Materials Companies
• Negative Sentiment: Repeated earnings-estimate cuts weighed on sentiment: Zacks Research reduced its forecasts for third-quarter 2026 EPS to $0.61 from $0.63 and lowered FY2027 EPS to $3.47 from $3.54. It also cut FY2028 EPS to $3.41 from $3.52, along with several quarterly estimates. The revisions suggest analysts see somewhat weaker near- to medium-term profitability than previously expected. Zacks Research Earnings Estimates
• Negative Sentiment: Mixed valuation and market signals: FCX’s latest session close of $71.14 was near its 50-day average of $71.41 but well above its 200-day average of $65.91. With a reported P/E ratio above 35, further estimate reductions may be particularly sensitive for investors, despite long-term copper optimism. FCX Underperforms the General Market

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.