Raymond James Financial Lowers Freeport-McMoRan (NYSE:FCX) Price Target to $68.00

Freeport-McMoRan (NYSE:FCX) had its price target cut by equities research analysts at Raymond James Financial from $72.00 to $68.00 in a report released on Friday,MarketScreener reports. The firm presently has an “outperform” rating on the natural resource company’s stock. Raymond James Financial’s price objective indicates a potential upside of 11.27% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company upped their price objective on Freeport-McMoRan from $64.00 to $77.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. UBS Group dropped their price objective on Freeport-McMoRan from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, March 27th. JPMorgan Chase & Co. upped their price objective on Freeport-McMoRan from $68.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. HSBC upped their price objective on Freeport-McMoRan from $69.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Freeport-McMoRan in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.57.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $61.12 on Friday. The firm has a market cap of $87.83 billion, a price-to-earnings ratio of 32.51, a price-to-earnings-growth ratio of 0.71 and a beta of 1.48. The company has a quick ratio of 1.05, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $62.47 and a 200-day moving average price of $53.88. Freeport-McMoRan has a twelve month low of $34.45 and a twelve month high of $70.96.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $6.23 billion during the quarter, compared to analyst estimates of $6.40 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 earnings per share. As a group, equities research analysts predict that Freeport-McMoRan will post 2.54 EPS for the current fiscal year.

Insider Activity at Freeport-McMoRan

In related news, CFO Maree E. Robertson sold 48,500 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $61.55, for a total transaction of $2,985,175.00. Following the completion of the transaction, the chief financial officer directly owned 79,894 shares of the company’s stock, valued at approximately $4,917,475.70. This represents a 37.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ellie L. Mikes sold 11,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $62.03, for a total value of $682,330.00. Following the transaction, the chief accounting officer directly owned 40,773 shares of the company’s stock, valued at approximately $2,529,149.19. The trade was a 21.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 565,145 shares of company stock valued at $35,839,918 in the last 90 days. 0.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Freeport-McMoRan

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC boosted its stake in Freeport-McMoRan by 54.1% during the first quarter. Root Financial Partners LLC now owns 5,790 shares of the natural resource company’s stock valued at $340,000 after buying an additional 2,033 shares during the last quarter. CHICAGO TRUST Co NA boosted its stake in Freeport-McMoRan by 8.8% during the first quarter. CHICAGO TRUST Co NA now owns 11,470 shares of the natural resource company’s stock valued at $674,000 after buying an additional 930 shares during the last quarter. Fulton Bank N.A. boosted its stake in Freeport-McMoRan by 5.3% during the first quarter. Fulton Bank N.A. now owns 18,458 shares of the natural resource company’s stock valued at $1,085,000 after buying an additional 936 shares during the last quarter. TKG Advisors LLC purchased a new stake in Freeport-McMoRan during the first quarter valued at approximately $2,729,000. Finally, Financial Life Planners purchased a new stake in Freeport-McMoRan during the first quarter valued at approximately $34,000. 80.77% of the stock is owned by institutional investors.

Key Freeport-McMoRan News

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

• Positive Sentiment: Q1 beat and cash support — FCX reported stronger‑than‑expected Q1 results (EPS $0.57 vs. ~$0.47 est.) with revenue up ~8.7% YoY; management noted higher realized commodity prices and a ~$700M insurance payment that helped results. Freeport-McMoRan: Less Copper Supply Isn’t All Bad
• Positive Sentiment: Analyst upgrade — UBS raised its price target to $74 and kept a Buy rating, signaling upside based on commodity outlook and valuation. UBS Lifts Price Target on Freeport-McMoRan to $74
• Neutral Sentiment: Market/valuation debate — Several pieces question whether current share price already reflects copper optimism and the recent volatility; investors should weigh the outlook for copper prices vs. reduced volumes. Is Freeport-McMoRan (FCX) Pricing Fully Reflects Recent Copper Optimism And Share Volatility
• Neutral Sentiment: Company materials and call — The earnings presentation and transcript are available for review (useful for guidance detail, cost outlook and timing for Grasberg ramp). Freeport-McMoRan Inc. (FCX) Q1 2026 Earnings Call Transcript
• Negative Sentiment: Grasberg production setbacks — Management cut 2026 copper sales guidance (roughly a 300M lb reduction cited) after a slower Grasberg ramp following last year’s incident; lower volumes directly pressure near‑term revenue and triggered the sell‑off. Freeport McMoRan falls as Grasberg delay cuts 2026 output outlook
• Negative Sentiment: Analyst downgrades and target cuts — Multiple firms trimmed targets or ratings (Morgan Stanley downgraded to Equal Weight and cut its PT; others cut targets or estimates), increasing near‑term selling pressure despite some boutiques still bullish. Morgan Stanley Downgrades Freeport-McMoRan Bernstein Adjusts Price Target on Freeport-McMoRan
• Negative Sentiment: Stock reaction — The market punished FCX on the combination of the production cut and uncertain Grasberg timing (reports of a ~10% intraday drop were published), showing sensitivity to volume risk even with strong commodity prices. Freeport-McMoRan (FCX) Stock Plunges 10% After Slashing Production Forecasts

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.