Scotiabank Issues Pessimistic Forecast for Freeport-McMoRan (NYSE:FCX) Stock Price

Freeport-McMoRan (NYSE:FCX) had its price target reduced by stock analysts at Scotiabank from $71.00 to $67.00 in a research report issued on Friday,MarketScreener reports. The firm presently has a “sector perform” rating on the natural resource company’s stock. Scotiabank’s target price would indicate a potential upside of 9.63% from the stock’s current price. Scotiabank also issued estimates for Freeport-McMoRan’s FY2026 earnings at $2.36 EPS and FY2027 earnings at $2.44 EPS.

A number of other brokerages have also issued reports on FCX. Raymond James Financial cut 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. Argus raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Friday, February 13th. UBS Group cut their target price on Freeport-McMoRan from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. JPMorgan Chase & Co. boosted their target price on Freeport-McMoRan from $68.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Freeport-McMoRan in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average price target of $65.57.

Freeport-McMoRan Trading Down 0.6%

FCX opened at $61.12 on Friday. Freeport-McMoRan has a one year low of $34.45 and a one year high of $70.96. The stock has a market capitalization of $87.83 billion, a PE ratio of 32.51, a P/E/G ratio of 0.71 and a beta of 1.48. The business’s 50 day moving average price is $62.47 and its 200 day moving average price is $53.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.05 and a current ratio of 2.39.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The firm 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 firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 earnings per share. As a group, equities research analysts expect that Freeport-McMoRan will post 2.54 EPS for the current year.

Insider Buying and Selling at Freeport-McMoRan

In other news, CAO Stephen T. Higgins sold 29,654 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $63.00, for a total transaction of $1,868,202.00. Following the sale, the chief accounting officer owned 76,445 shares of the company’s stock, valued at approximately $4,816,035. This represents a 27.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Maree E. Robertson sold 48,500 shares of the business’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $61.55, for a total value of $2,985,175.00. Following the transaction, the chief financial officer directly owned 79,894 shares of the company’s stock, valued at $4,917,475.70. The trade was a 37.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 565,145 shares of company stock valued at $35,839,918. Insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Steigerwald Gordon & Koch Inc. acquired a new position in Freeport-McMoRan during the 3rd quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Freeport-McMoRan during the 4th quarter worth $25,000. Salomon & Ludwin LLC grew its stake in Freeport-McMoRan by 1,962.9% during the 3rd quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company’s stock worth $29,000 after purchasing an additional 687 shares in the last quarter. Steph & Co. grew its stake in Freeport-McMoRan by 43.7% during the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock worth $29,000 after purchasing an additional 150 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in Freeport-McMoRan during the 4th quarter worth $29,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan News Roundup

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.