Zacks Research Issues Optimistic Forecast for FCX Earnings

Freeport-McMoRan Inc. (NYSE:FCX) – Analysts at Zacks Research increased their Q1 2026 EPS estimates for Freeport-McMoRan in a research note issued to investors on Wednesday, February 4th. Zacks Research analyst Team now expects that the natural resource company will post earnings of $0.44 per share for the quarter, up from their previous forecast of $0.38. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $1.68 per share. Zacks Research also issued estimates for Freeport-McMoRan’s Q2 2026 earnings at $0.47 EPS, Q3 2026 earnings at $0.58 EPS, Q1 2027 earnings at $0.63 EPS, Q2 2027 earnings at $0.78 EPS and FY2028 earnings at $2.84 EPS.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.19. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The firm had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same period in the prior year, the company posted $0.31 earnings per share. Freeport-McMoRan’s revenue for the quarter was down 1.5% on a year-over-year basis.

A number of other research firms have also commented on FCX. Wells Fargo & Company lifted their price target on shares of Freeport-McMoRan from $55.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Freeport-McMoRan in a report on Thursday, January 22nd. Hsbc Global Res raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 16th. Raymond James Financial raised their price target on Freeport-McMoRan from $53.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. Finally, JPMorgan Chase & Co. boosted their price objective on Freeport-McMoRan from $58.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $58.40.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX opened at $59.29 on Thursday. The business’s 50-day simple moving average is $53.65 and its 200-day simple moving average is $46.06. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 2.29. Freeport-McMoRan has a 52 week low of $27.66 and a 52 week high of $69.44. The firm has a market cap of $85.14 billion, a price-to-earnings ratio of 39.27, a P/E/G ratio of 0.72 and a beta of 1.47.

Freeport-McMoRan Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Thursday, January 15th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Thursday, January 15th. Freeport-McMoRan’s dividend payout ratio is currently 19.87%.

Insider Activity

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 shares were sold at an average price of $47.66, for a total transaction of $456,201.52. Following the transaction, the chief accounting officer owned 38,761 shares of the company’s stock, valued at $1,847,349.26. This trade represents a 19.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Stephen T. Higgins sold 28,423 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer owned 105,294 shares of the company’s stock, valued at approximately $5,053,059.06. This represents a 21.26% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Freeport-McMoRan

Several institutional investors and hedge funds have recently made changes to their positions in the company. Leo Wealth LLC lifted its holdings in Freeport-McMoRan by 2.5% during the fourth quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company’s stock worth $347,000 after acquiring an additional 170 shares in the last quarter. Physician Wealth Advisors Inc. lifted its holdings in shares of Freeport-McMoRan by 23.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 924 shares of the natural resource company’s stock valued at $47,000 after purchasing an additional 176 shares in the last quarter. Castle Rock Wealth Management LLC lifted its holdings in shares of Freeport-McMoRan by 3.3% during the 4th quarter. Castle Rock Wealth Management LLC now owns 5,687 shares of the natural resource company’s stock valued at $289,000 after purchasing an additional 180 shares in the last quarter. Private Trust Co. NA grew its position in shares of Freeport-McMoRan by 6.7% in the 4th quarter. Private Trust Co. NA now owns 3,119 shares of the natural resource company’s stock valued at $158,000 after purchasing an additional 195 shares during the period. Finally, Nations Financial Group Inc. IA ADV increased its stake in Freeport-McMoRan by 0.3% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 64,438 shares of the natural resource company’s stock worth $3,273,000 after purchasing an additional 207 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Key Headlines Impacting Freeport-McMoRan

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

• Positive Sentiment: Zacks Research raised earnings estimates across multiple quarters and for FY2028, lifting Q1–Q3 and Q1–Q2 ’27 EPS forecasts (e.g., Q1 2027 to $0.63, Q2 2027 to $0.78) — a fundamental upgrade that supports higher future earnings expectations. Read More.
• Positive Sentiment: An analyst price target was increased about 10.45% (to $62.23), signaling some sell-side confidence in near-term upside. Read More.
• Positive Sentiment: News coverage highlights Freeport benefiting from record copper prices and a focus on disciplined growth — a supportive commodity backdrop for revenues and cash flow. Read More.
• Neutral Sentiment: Valuation articles are reviewing FCX after the rally — these pieces raise awareness of higher multiples and make the stock’s risk/reward more debated among investors. That increases sensitivity to any near-term earnings or copper-price swings. Read More.
• Negative Sentiment: Analyst/commentary pieces urging caution (e.g., “waiting for a better entry point”) reflect a portion of the market taking profits or avoiding exposure at current levels, which can pressure the share price despite positive fundamentals. Read More.

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.