Sanford C. Bernstein Has Lowered Expectations for Freeport-McMoRan (NYSE:FCX) Stock Price

Freeport-McMoRan (NYSE:FCX) had its price target dropped by research analysts at Sanford C. Bernstein from $54.00 to $53.50 in a note issued to investors on Friday,MarketScreener reports. The firm currently has a “market perform” rating on the natural resource company’s stock. Sanford C. Bernstein’s target price points to a potential downside of 12.46% from the stock’s current price.

Several other analysts have also recently issued reports on FCX. The Goldman Sachs Group assumed coverage on Freeport-McMoRan in a research report on Thursday, April 2nd. They set a “buy” rating and a $70.00 target price on the stock. Wells Fargo & Company increased their target price on Freeport-McMoRan from $64.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Raymond James Financial dropped their target price on Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating on the stock in a research report on Friday. Citigroup raised their price objective on Freeport-McMoRan from $48.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Finally, UBS Group lowered their price objective on Freeport-McMoRan from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and an average target price of $65.57.

Freeport-McMoRan Stock Down 0.6%

Shares of NYSE FCX opened at $61.12 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $87.83 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 0.71 and a beta of 1.48. The stock’s fifty day simple moving average is $62.47 and its two-hundred day simple moving average is $53.88. Freeport-McMoRan has a 12-month low of $34.45 and a 12-month high of $70.96.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.10. The business had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $6.40 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. As a group, analysts expect that Freeport-McMoRan will post 2.54 EPS for the current fiscal year.

Insider Transactions at Freeport-McMoRan

In other news, CAO Ellie L. Mikes sold 11,000 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $62.03, for a total value 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 trade represents a 21.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Stephen T. Higgins sold 29,654 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $63.00, for a total value of $1,868,202.00. Following the completion of the sale, the chief accounting officer directly owned 76,445 shares of the company’s stock, valued at $4,816,035. The trade was a 27.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 565,145 shares of company stock worth $35,839,918. 0.75% of the stock is currently owned by corporate 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 FCX. Brighton Jones LLC raised its stake in Freeport-McMoRan by 24.2% in the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after acquiring an additional 2,882 shares during the last quarter. Bison Wealth LLC raised its stake in Freeport-McMoRan by 5.6% in the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after acquiring an additional 507 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Freeport-McMoRan in the 2nd quarter worth $560,000. Brown Advisory Inc. raised its stake in Freeport-McMoRan by 27.0% in the 2nd quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock worth $539,000 after acquiring an additional 2,648 shares during the last quarter. Finally, Jump Financial LLC raised its stake in Freeport-McMoRan by 42.7% in the 2nd quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company’s stock worth $2,172,000 after acquiring an additional 14,992 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan News Summary

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.