Freeport-McMoRan (NYSE:FCX) Shares Gap Down Following Weak Earnings

Freeport-McMoRan Inc. (NYSE:FCX) gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $70.36, but opened at $62.27. Freeport-McMoRan shares last traded at $61.9340, with a volume of 7,154,592 shares traded.

The natural resource company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The firm had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same period in the prior year, the business earned $0.24 EPS. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. Freeport-McMoRan’s dividend payout ratio is 19.87%.

Key Freeport-McMoRan News

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

• Positive Sentiment: Q1 beat — FCX reported stronger-than-expected Q1 results (EPS beat and revenue roughly in line), driven by higher realized copper, gold and molybdenum prices which lifted margins and year-over-year profitability. Freeport‑McMoRan beats first‑quarter profit on higher copper prices
• Positive Sentiment: Analyst support/valuation momentum — Some brokers had recently raised targets and highlighted recovery momentum into the quarter, keeping buy-side interest amid stronger commodity tailwinds. Is Freeport‑McMoRan (FCX) the Best Beginner Stock to Buy Right Now?
• Neutral Sentiment: Corporate disclosure — Management released its Q1 press release and slide deck; the beat and the updated operating data give investors more clarity but contain mixed signals (prices up, volumes down). Freeport First‑Quarter 2026 Financial Release
• Negative Sentiment: Production and sales cut — Management trimmed 2026 (and 2027) copper sales guidance by ~300 million pounds after a slower-than-expected ramp at the Grasberg complex following last year’s mud‑rush incident; the weaker volume outlook materially offsets price strength. FCX Stock Dives On Copper Output Cut
• Negative Sentiment: Market reaction — The production-guidance cut and Grasberg delay triggered heavy selling despite the earnings beat; several reports note the stock plunged on the outlook change. Freeport McMoRan falls as Grasberg delay cuts 2026 output outlook
• Negative Sentiment: Analyst tweaks — Some firms trimmed FY estimates and highlighted the operational risk at Grasberg, which could pressure near‑term earnings multiples if volumes remain below prior plans. MarketBeat Freeport coverage

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. HSBC upped their price objective on shares of Freeport-McMoRan from $69.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. BMO Capital Markets upped their price objective on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. upped their price objective on shares of Freeport-McMoRan from $68.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Jefferies Financial Group set a $75.00 price objective on shares of Freeport-McMoRan in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Freeport-McMoRan in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $66.21.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 11,000 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $62.03, for a total transaction of $682,330.00. Following the completion of the sale, the chief accounting officer owned 40,773 shares of the company’s stock, valued at $2,529,149.19. This represents a 21.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Douglas N. Currault II sold 75,000 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $64.52, for a total transaction of $4,839,000.00. Following the sale, the executive vice president directly owned 219,181 shares of the company’s stock, valued at $14,141,558.12. The trade was a 25.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 565,145 shares of company stock worth $35,839,918 over the last ninety days. 0.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Freeport-McMoRan

Institutional investors have recently added to or reduced their stakes in the company. KBC Group NV raised its holdings in Freeport-McMoRan by 49.0% in the 4th quarter. KBC Group NV now owns 221,838 shares of the natural resource company’s stock worth $11,267,000 after purchasing an additional 73,002 shares in the last quarter. Great Lakes Advisors LLC raised its holdings in Freeport-McMoRan by 8.0% in the 3rd quarter. Great Lakes Advisors LLC now owns 1,551,258 shares of the natural resource company’s stock worth $60,840,000 after purchasing an additional 115,285 shares in the last quarter. Summit Global Investments raised its holdings in Freeport-McMoRan by 278.4% in the 3rd quarter. Summit Global Investments now owns 46,157 shares of the natural resource company’s stock worth $1,810,000 after purchasing an additional 33,959 shares in the last quarter. Wellington Management Group LLP raised its holdings in Freeport-McMoRan by 190.9% in 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 purchasing an additional 23,950,557 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Freeport-McMoRan in the 3rd quarter worth $1,066,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 12.6%

The company has a current ratio of 2.29, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $88.35 billion, a P/E ratio of 40.71, a price-to-earnings-growth ratio of 0.81 and a beta of 1.48. The company’s fifty day simple moving average is $62.50 and its 200 day simple moving average is $53.64.

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.