Freeport-McMoRan (NYSE:FCX) Price Target Raised to $68.00

Freeport-McMoRan (NYSE:FCX) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $58.00 to $68.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the natural resource company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 22.41% from the stock’s current price.

Several other analysts have also commented on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Freeport-McMoRan in a report on Monday. UBS Group raised their price objective on shares of Freeport-McMoRan from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Wall Street Zen cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. HSBC dropped their price objective on shares of Freeport-McMoRan from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, November 19th. Finally, Johnson Rice decreased their price target on shares of Freeport-McMoRan from $55.00 to $48.00 in a research note on Monday, September 29th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Freeport-McMoRan has an average rating of “Buy” and an average target price of $50.97.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $55.55 on Thursday. The firm’s fifty day simple moving average is $45.39 and its 200 day simple moving average is $43.77. The stock has a market cap of $79.77 billion, a P/E ratio of 39.12, a price-to-earnings-growth ratio of 0.95 and a beta of 1.45. The company has a quick ratio of 1.19, a current ratio of 2.45 and a debt-to-equity ratio of 0.29. Freeport-McMoRan has a twelve month low of $27.66 and a twelve month high of $57.12.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.09. The company had revenue of $6.97 billion for the quarter, compared to analysts’ expectations of $6.74 billion. Freeport-McMoRan had a return on equity of 7.84% and a net margin of 7.97%.The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 earnings per share. As a group, research analysts predict that Freeport-McMoRan will post 1.68 EPS for the current year.

Insider Transactions at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 28,423 shares of the business’s stock in a transaction that occurred 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 directly owned 105,294 shares of the company’s stock, valued at approximately $5,053,059.06. The trade was a 21.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Ellie L. Mikes sold 9,572 shares of Freeport-McMoRan stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $47.66, for a total value of $456,201.52. Following the completion of the transaction, the chief accounting officer owned 38,761 shares of the company’s stock, valued at approximately $1,847,349.26. This represents a 19.80% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Freeport-McMoRan by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 128,760,188 shares of the natural resource company’s stock valued at $5,049,975,000 after buying an additional 1,776,241 shares during the period. Fisher Asset Management LLC boosted its position in shares of Freeport-McMoRan by 1.4% during the 3rd quarter. Fisher Asset Management LLC now owns 63,258,414 shares of the natural resource company’s stock worth $2,480,995,000 after acquiring an additional 899,699 shares in the last quarter. State Street Corp increased its stake in Freeport-McMoRan by 1.1% in the third quarter. State Street Corp now owns 62,477,910 shares of the natural resource company’s stock valued at $2,450,384,000 after purchasing an additional 690,736 shares during the last quarter. Wellington Management Group LLP raised its stake in Freeport-McMoRan by 190.9% during the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock worth $1,431,326,000 after acquiring an additional 23,950,557 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Freeport-McMoRan by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 21,671,223 shares of the natural resource company’s stock worth $849,945,000 after purchasing an additional 435,963 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan News Roundup

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

• Positive Sentiment: Brokerages lifting stance — FCX was assigned a consensus “Buy” from brokerages, supporting investor optimism on the stock. Read More.
• Positive Sentiment: Heavy bullish options flow — Traders bought an unusually large block of call options (reported ~101,726 contracts), signaling speculative bullish bets that can amplify upside interest in the shares. Read More.
• Positive Sentiment: Institutional analyst support and earnings outlook — Bank of America named Freeport a top North American mining pick for 2026, and Jefferies sees Q4 EPS upside driven by realized copper/gold prices and operational updates, which underpins positive forward earnings expectations. Read More. Read More.
• Positive Sentiment: Momentum/valuation interest — FCX recently hit a 52?week high and is being profiled as a long-term value play in recent market write-ups, drawing momentum and value-oriented buyers. Read More. Read More.
• Neutral Sentiment: Valuation check — Several analysts and media outlets are re?examining FCX’s valuation after recent share gains; that analysis could support further buying if multiples still look attractive or temper moves if stretched. Read More.
• Negative Sentiment: Legal overhang — Multiple law firms have announced securities?fraud investigations and class-action filings alleging disclosure failures (including safety issues at Grasberg and timing of disclosures). Numerous firms have reminder/deadline notices for potential lead plaintiffs, creating a persistent litigation risk that can pressure the stock or increase volatility. Read More. Read More. Read More.

About Freeport-McMoRan

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.