Wells Fargo & Company Lowers Freeport-McMoRan (NYSE:FCX) Price Target to $68.00

Freeport-McMoRan (NYSE:FCX) had its target price lowered by equities researchers at Wells Fargo & Company from $77.00 to $68.00 in a research report issued on Friday,MarketScreener reports. The firm currently has an “overweight” rating on the natural resource company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 11.27% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Freeport-McMoRan from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Friday. JPMorgan Chase & Co. raised their price objective on shares of Freeport-McMoRan from $68.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. BMO Capital Markets raised their price objective on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 14th. Morgan Stanley reissued an “equal weight” rating and set a $66.00 price objective (down from $70.00) on shares of Freeport-McMoRan in a research note on Friday. Finally, BNP Paribas Exane raised their price objective on shares of Freeport-McMoRan from $56.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. One investment 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.57.

Freeport-McMoRan Trading Down 0.6%

Shares of FCX opened at $61.12 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.05. The firm has a 50 day simple moving average of $62.47 and a 200-day simple moving average of $53.88. Freeport-McMoRan has a 1-year low of $34.45 and a 1-year high of $70.96. The stock 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.

Freeport-McMoRan (NYSE:FCX) last issued 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. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same period last year, the company posted $0.24 EPS. The company’s revenue was up 8.8% on a year-over-year basis. Equities analysts forecast that Freeport-McMoRan will post 2.54 EPS for the current fiscal year.

Insider Activity

In related news, CAO Stephen T. Higgins sold 29,654 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were 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 in the company, valued at approximately $4,816,035. This trade represents a 27.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard C. Adkerson sold 152,960 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $64.65, for a total transaction of $9,888,864.00. Following the sale, the chairman owned 3,356,159 shares in the company, valued at approximately $216,975,679.35. This trade represents a 4.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 565,145 shares of company stock valued at $35,839,918 in the last 90 days. Insiders own 0.75% of the company’s stock.

Institutional Trading of Freeport-McMoRan

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

Key Stories Impacting Freeport-McMoRan

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.