Scotiabank Boosts Freeport-McMoRan (NYSE:FCX) Price Target to $72.00

Freeport-McMoRan (NYSE:FCX) had its target price boosted by research analysts at Scotiabank from $70.00 to $72.00 in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the natural resource company’s stock. Scotiabank’s price objective points to a potential upside of 11.91% from the company’s previous close.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. increased their price target on shares of Freeport-McMoRan from $58.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Wells Fargo & Company boosted their target price on Freeport-McMoRan from $55.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. UBS Group raised their price objective on shares of Freeport-McMoRan from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Freeport-McMoRan in a research report on Thursday, January 22nd. Finally, CICC Research lifted their price objective on Freeport-McMoRan from $50.40 to $64.40 and gave the stock an “outperform” rating in a report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan has an average rating of “Moderate Buy” and an average target price of $60.73.

Freeport-McMoRan Stock Up 2.8%

Shares of Freeport-McMoRan stock opened at $64.34 on Thursday. The company has a current ratio of 2.29, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. Freeport-McMoRan has a 12-month low of $27.66 and a 12-month high of $69.44. The company has a market cap of $92.38 billion, a P/E ratio of 42.61, a PEG ratio of 0.68 and a beta of 1.47. The company’s fifty day simple moving average is $57.58 and its two-hundred day simple moving average is $47.58.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.19. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The firm had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the previous year, the firm posted $0.31 EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Research analysts anticipate that Freeport-McMoRan will post 1.68 EPS for the current year.

Insider Buying and Selling at Freeport-McMoRan

In related news, Chairman Richard C. Adkerson sold 248,031 shares of Freeport-McMoRan stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $62.80, for a total transaction of $15,576,346.80. Following the transaction, the chairman owned 3,509,119 shares in the company, valued at approximately $220,372,673.20. The trade was a 6.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Douglas N. Currault II sold 75,000 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $64.52, for a total transaction of $4,839,000.00. Following the completion of the transaction, the executive vice president directly owned 219,181 shares of the company’s stock, valued at $14,141,558.12. This represents a 25.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 573,486 shares of company stock valued at $35,791,937. 0.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Freeport-McMoRan

Large investors have recently made changes to their positions in the business. Kemnay Advisory Services Inc. purchased a new position in Freeport-McMoRan in the 4th quarter worth approximately $29,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Freeport-McMoRan during the third quarter valued at approximately $25,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Freeport-McMoRan in the second quarter worth $28,000. Salomon & Ludwin LLC boosted its position in shares of Freeport-McMoRan by 1,962.9% during the third quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company’s stock worth $29,000 after acquiring an additional 687 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Freeport-McMoRan during the fourth quarter valued at $38,000. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Freeport-McMoRan

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

• Positive Sentiment: Freeport reached a Memorandum of Understanding with the Indonesian government to amend PT Freeport Indonesia’s special mining business license (IUPK) for a life‑of‑resource extension of operating rights — this materially reduces tenure/regulatory risk at Grasberg, bolsters the long‑term copper production and cash‑flow story, and is the main catalyst lifting sentiment. FCX Announces Agreement for Life of Resource Extension
• Positive Sentiment: Scotiabank raised its price target on FCX from $70 to $72 and kept an outperform rating — another broker lift that supports upside expectations and can attract buyer flows. Scotiabank PT raise
• Neutral Sentiment: Market and industry write‑ups are rotating capital into copper amid rising demand for wiring/infrastructure tied to AI and electrification; these macro narratives support commodity price tailwinds but benefit multiple miners, not just FCX. Copper demand/sector rotation
• Neutral Sentiment: Coverage and valuation pieces (Yahoo Finance, Zacks, Seeking Alpha) are re‑pricing FCX on the new Grasberg assumptions and stronger copper outlook — helpful context for investors but not a direct catalyst. Narrative shift article
• Negative Sentiment: Senior insiders sold stock this week: CFO Maree Robertson (48,500 shares) and CAO Ellie Mikes (11,000 shares) — sizable filings that can spook some investors even if sales are for diversification or tax planning. CFO SEC filing CAO SEC filing
• Negative Sentiment: Operational risk remains: analysts and sector commentary note the 2025 Grasberg mudflow’s lingering impact on near‑term production — delays to recovery would limit Freeport’s ability to immediately monetize stronger copper prices. Grasberg MOU and operational context

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.