Erste Group Bank Has Strong Forecast for FCX FY2026 Earnings

Freeport-McMoRan Inc. (NYSE:FCX) – Analysts at Erste Group Bank upped their FY2026 earnings per share estimates for shares of Freeport-McMoRan in a research note issued to investors on Wednesday, October 21st. Erste Group Bank analyst H. Engel now anticipates that the natural resource company will post earnings of $3.19 per share for the year, up from their previous estimate of $3.10. Erste Group Bank currently has a “Buy” rating on the stock. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $2.99 per share.

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

A number of other research firms have also recently commented on FCX. 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 report on Tuesday, July 21st. Royal Bank Of Canada increased their price objective on shares of Freeport-McMoRan from $73.00 to $85.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 16th. Barclays raised their target price on shares of Freeport-McMoRan from $83.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday. Citigroup lifted their target price on shares of Freeport-McMoRan from $66.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, October 5th. Finally, Morgan Stanley lifted their target price on shares of Freeport-McMoRan from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 7th. One investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.27.

Freeport-McMoRan Trading Down 6.4%

Shares of Freeport-McMoRan stock opened at $64.50 on Friday. The business has a fifty day simple moving average of $72.04 and a two-hundred day simple moving average of $66.91. Freeport-McMoRan has a 1 year low of $38.54 and a 1 year high of $80.24. The company has a market capitalization of $92.62 billion, a price-to-earnings ratio of 31.77, a P/E/G ratio of 0.63 and a beta of 1.39. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 0.92.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors 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 0.5%. The ex-dividend date of this dividend is Thursday, October 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 14.78%.

Insider Transactions at Freeport-McMoRan

In related news, CAO Ellie Mikes sold 4,773 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $70.00, for a total value of $334,110.00. Following the completion of the sale, the chief accounting officer directly owned 36,000 shares in the company, valued at $2,520,000. The trade was a 11.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Stephen Higgins sold 14,277 shares of the company’s stock in a transaction on 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 transaction, the chief accounting officer directly owned 54,618 shares in the company, valued at approximately $3,795,951. This represents a 20.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 110,398 shares of company stock valued at $8,387,271. 0.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Freeport-McMoRan

A number of institutional investors have recently modified their holdings of FCX. NBH Bank acquired a new position in shares of Freeport-McMoRan in the second quarter valued at about $28,000. Cassaday & Co Wealth Management LLC acquired a new stake in Freeport-McMoRan in the 1st quarter worth about $29,000. Financial Life Planners bought a new stake in Freeport-McMoRan in the 1st quarter valued at about $34,000. Roxbury Financial LLC boosted its holdings in Freeport-McMoRan by 196.5% in the 2nd quarter. Roxbury Financial LLC now owns 593 shares of the natural resource company’s stock valued at $37,000 after purchasing an additional 393 shares during the period. Finally, SHP Wealth Management bought a new stake in Freeport-McMoRan in the 4th quarter valued at about $30,000. Institutional investors own 80.77% of the company’s stock.

About Freeport-McMoRan

Freeport-McMoRan Inc (NYSE: FCX) is a global mining company primarily engaged in the exploration, development, and production of copper. Copper is used extensively in electrical wiring, construction, transportation, renewable energy systems, and other industrial applications. The company also produces gold and molybdenum, a metal used in steelmaking and other industrial processes, as well as certain other byproducts.

Freeport-McMoRan operates a portfolio of mining and processing assets in North America, South America, and Indonesia.