Freeport-McMoRan (NYSE:FCX) Price Target Raised to $63.00 at Scotiabank

Freeport-McMoRan (NYSE:FCX) had its price objective hoisted by Scotiabank from $47.00 to $63.00 in a report issued on Thursday,BayStreet.CA reports. They currently have an outperform rating on the natural resource company’s stock.

Other analysts have also issued reports about the stock. UBS Group raised their price objective on shares of Freeport-McMoRan from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, December 12th. HSBC decreased their target price on Freeport-McMoRan from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. Jefferies Financial Group restated a “buy” rating and set a $68.00 price target on shares of Freeport-McMoRan in a research report on Monday. Clarkson Capital raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Wednesday, November 19th. Finally, Wells Fargo & Company increased their price objective on Freeport-McMoRan from $47.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, December 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Freeport-McMoRan presently has an average rating of “Buy” and a consensus target price of $51.73.

Freeport-McMoRan Stock Down 2.4%

Shares of NYSE FCX opened at $54.19 on Thursday. The company has a current ratio of 2.45, a quick ratio of 1.19 and a debt-to-equity ratio of 0.29. Freeport-McMoRan has a 12 month low of $27.66 and a 12 month high of $57.12. The firm has a market capitalization of $77.81 billion, a PE ratio of 38.16, a price-to-earnings-growth ratio of 0.92 and a beta of 1.45. The firm has a fifty day simple moving average of $45.64 and a two-hundred day simple moving average of $43.84.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. Freeport-McMoRan had a net margin of 7.97% and a return on equity of 7.84%. The firm had revenue of $6.97 billion for the quarter, compared to analyst estimates of $6.74 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts expect that Freeport-McMoRan will post 1.68 earnings per share for the current year.

Freeport-McMoRan Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Thursday, January 15th will be issued a dividend of $0.075 per share. The ex-dividend date is Thursday, January 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.6%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 21.13%.

Insider Activity

In related news, CAO Ellie L. Mikes sold 9,572 shares of the company’s 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 transaction, the chief accounting officer owned 38,761 shares in the company, valued at $1,847,349.26. The trade was a 19.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Stephen T. Higgins sold 28,423 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $47.99, for a total transaction of $1,364,019.77. Following the sale, the chief accounting officer directly owned 105,294 shares in the company, valued at $5,053,059.06. This trade represents a 21.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Freeport-McMoRan

Several institutional investors and hedge funds have recently made changes to their positions in FCX. Vanguard Group Inc. lifted its position in 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 acquiring an additional 1,776,241 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Freeport-McMoRan by 1.4% in the third quarter. Fisher Asset Management LLC now owns 63,258,414 shares of the natural resource company’s stock worth $2,480,995,000 after purchasing an additional 899,699 shares during the last quarter. State Street Corp raised its stake in shares of 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 worth $2,450,384,000 after purchasing an additional 690,736 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Freeport-McMoRan by 190.9% during the third 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 purchasing an additional 23,950,557 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted 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 valued at $849,945,000 after buying an additional 435,963 shares during the last quarter. Institutional investors 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: Analyst upgrades and higher price targets from major banks boost upside expectations — JPMorgan raised its target to $68 and gave an overweight rating, while Scotiabank bumped its target to $63 and kept an outperform call. JPMorgan target raise (Benzinga) Scotiabank target raise (BayStreet.CA)
• Positive Sentiment: Broader positive industry calls — Bank of America named Freeport a top North American mining pick for 2026, reflecting favorable commodity outlooks (notably copper). Bank of America picks (Proactive Investors)
• Positive Sentiment: Momentum indicators and investor positioning remain constructive — FCX has jumped ~30% over three months on strong copper prices, and recent heavy call‑option buying plus a consensus “Buy” from brokerages signal continued bullish interest. 30% rally & analysis (Zacks) Call options flow (AmericanBankingNews)
• Neutral Sentiment: Short‑term price action context — market commentary notes FCX pulled back while broader markets improved; useful for gauging whether the move is stock‑specific or market‑wide. Price session note (Zacks)
• Neutral Sentiment: Valuation review — analysts and outlets are checking FCX valuation after recent momentum; this can moderate trading as investors reassess upside vs. fundamentals. Valuation check (Yahoo/Finance)
• Negative Sentiment: Multiple securities‑litigation notices and lead‑plaintiff deadlines (Jan. 12) have been circulated by several law firms and firms are soliciting potential lead plaintiffs — this increases legal overhang and potential costs/management distraction. Gross Law Firm notice (GlobeNewswire) Robbins Geller deadline (PR Newswire)
• Negative Sentiment: Operational cost pressures — company reported a 24% spike in unit cash costs in Q3 with expectation of higher costs in Q4, which could pressure margins if sustained. Unit cash costs (Zacks)

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.