Scotiabank Predicts Increased Earnings for Freeport-McMoRan

Freeport-McMoRan Inc. (NYSE:FCX) – Scotiabank upped their FY2026 earnings per share (EPS) estimates for Freeport-McMoRan in a research report issued on Wednesday, March 19th. Scotiabank analyst O. Wowkodaw now expects that the natural resource company will earn $1.49 per share for the year, up from their previous forecast of $1.42. Scotiabank currently has a “Sector Perform” rating and a $45.00 target price on the stock. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $1.68 per share.

Several other equities research analysts also recently issued reports on FCX. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their price objective for the stock from $40.00 to $48.00 in a research note on Thursday, February 27th. BMO Capital Markets reduced their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Finally, Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.04.

Freeport-McMoRan Stock Down 1.0 %

Shares of Freeport-McMoRan stock opened at $40.31 on Monday. The stock has a 50-day moving average price of $38.03 and a 200 day moving average price of $41.97. The company has a market cap of $57.93 billion, a P/E ratio of 31.25, a P/E/G ratio of 0.87 and a beta of 1.87. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. Freeport-McMoRan has a 1 year low of $33.98 and a 1 year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%.

Institutional Investors Weigh In On Freeport-McMoRan

A number of large investors have recently added to or reduced their stakes in FCX. Continuum Advisory LLC raised its position in shares of Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after purchasing an additional 236 shares during the period. Coppell Advisory Solutions LLC raised its holdings in Freeport-McMoRan by 47.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company’s stock worth $32,000 after acquiring an additional 268 shares during the period. PFG Investments LLC lifted its position in Freeport-McMoRan by 1.3% during the 4th quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock worth $872,000 after acquiring an additional 283 shares during the last quarter. Larson Financial Group LLC lifted its position in Freeport-McMoRan by 14.6% during the 3rd quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock worth $112,000 after acquiring an additional 287 shares during the last quarter. Finally, Palogic Value Management L.P. lifted its position in Freeport-McMoRan by 1.5% during the 4th quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company’s stock worth $772,000 after acquiring an additional 292 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.