Freeport-McMoRan (NYSE:FCX) Stock Price Target Lowered at JPMorgan Chase & Co.

Freeport-McMoRan (NYSE:FCX) had its price objective reduced by research analysts at JPMorgan Chase & Co. from $92.00 to $90.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the natural resource company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 35.28% from the stock’s previous close.

Several other analysts have also commented on FCX. Royal Bank Of Canada raised their price objective on shares of Freeport-McMoRan from $73.00 to $85.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 16th. UBS Group upped their target price on Freeport-McMoRan from $77.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, October 8th. Morgan Stanley upped their target price on Freeport-McMoRan from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 7th. Stifel Nicolaus increased their target price on Freeport-McMoRan from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, Erste Group Bank began coverage on Freeport-McMoRan in a research note on Thursday, August 27th. They issued a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and an average price target of $75.82.

Freeport-McMoRan Trading Up 0.9%

NYSE FCX traded up $0.58 during trading on Wednesday, hitting $66.53. 6,001,893 shares of the company’s stock traded hands, compared to its average volume of 15,903,192. The firm has a market cap of $95.53 billion, a P/E ratio of 32.65, a PEG ratio of 0.58 and a beta of 1.39. Freeport-McMoRan has a 12-month low of $38.54 and a 12-month high of $80.24. The stock has a fifty day moving average of $71.82 and a two-hundred day moving average of $65.11. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 0.92.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Tuesday, October 27th. The natural resource company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.36 billion. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 EPS. As a group, sell-side analysts expect that Freeport-McMoRan will post 3.05 EPS for the current year.

Insider Activity

In related news, CAO Stephen Higgins sold 14,277 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $69.50, for a total value of $992,251.50. Following the transaction, the chief accounting officer directly owned 54,618 shares of the company’s stock, valued at approximately $3,795,951. This represents a 20.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lydia Kennard sold 3,798 shares of Freeport-McMoRan stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $79.11, for a total value of $300,459.78. Following the completion of the sale, the director directly owned 122,702 shares of the company’s stock, valued at approximately $9,706,955.22. The trade was a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 110,398 shares of company stock worth $8,387,271. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Freeport-McMoRan

Several institutional investors have recently modified their holdings of FCX. NBH Bank purchased a new position in Freeport-McMoRan in the 2nd quarter worth about $28,000. Cassaday & Co Wealth Management LLC bought a new position in Freeport-McMoRan during the 1st quarter valued at about $29,000. Financial Life Planners purchased a new stake in shares of Freeport-McMoRan during the 1st quarter valued at about $34,000. Roxbury Financial LLC boosted its holdings in shares of Freeport-McMoRan by 196.5% during the 2nd quarter. Roxbury Financial LLC now owns 593 shares of the natural resource company’s stock valued at $37,000 after acquiring an additional 393 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Freeport-McMoRan in the first quarter worth approximately $39,000. 80.77% of the stock is 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: FCX reported third-quarter adjusted EPS of $0.88, above the $0.82 consensus, while revenue rose 8.2% year over year to $7.55 billion, exceeding estimates of $7.36 billion. Net income increased to approximately $1.2 billion from $674 million a year earlier as stronger copper and molybdenum prices offset weaker sales volumes. Freeport McMoRan Q3 revenue rises as copper prices boost earnings
• Positive Sentiment: Management outlined an ambitious growth plan targeting copper sales above 4 billion pounds by 2028. The Grasberg recovery, leaching technology and planned expansions could increase production and strengthen long-term exposure to tight copper supplies driven by data centers, electrification and infrastructure demand. FCX Q3 Earnings Call Highlights Grasberg Recovery and Growth Plans
• Positive Sentiment: Goldman Sachs raised its FCX price target to $83 from $81, signaling continued confidence in the company’s earnings and copper-price potential. Goldman Sachs Adjusts Price Target on Freeport-McMoRan
• Neutral Sentiment: Wells Fargo lowered its price target to $79 from $87 but retained an Overweight rating. The revision reflects a more cautious valuation view while still implying meaningful upside based on the reported price. Wells Fargo FCX price-target update
• Positive Sentiment: FCX is evaluating higher molybdenum production at its Colorado mine, which could provide an additional earnings contribution if expanded output is approved. Freeport-McMoRan weighs boosting molybdenum supply
• Negative Sentiment: Operational concerns remain: Indonesian production and sales volumes declined, costs increased, and gold sales fell sharply. These issues could pressure margins if copper and molybdenum prices weaken. A strong dollar and higher interest rates are also broader headwinds for mining stocks.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc (NYSE: FCX) is a global mining company primarily engaged in the exploration, development, and production of copper. Copper is used extensively in electrical wiring, construction, transportation, renewable energy systems, and other industrial applications. The company also produces gold and molybdenum, a metal used in steelmaking and other industrial processes, as well as certain other byproducts.

Freeport-McMoRan operates a portfolio of mining and processing assets in North America, South America, and Indonesia.