Scotiabank Increases Earnings Estimates for Freeport-McMoRan

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

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

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $48.00 to $52.00 in a research report on Thursday, March 20th. Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. BMO Capital Markets cut their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Finally, Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and lifted their price target for the company from $40.00 to $48.00 in a report on Thursday, February 27th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average price target of $52.04.

Freeport-McMoRan Stock Up 3.5 %

FCX opened at $43.08 on Monday. The firm has a market cap of $61.91 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 0.87 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The firm’s 50-day simple moving average is $38.15 and its 200-day simple moving average is $42.00. Freeport-McMoRan has a twelve month low of $33.98 and a twelve month high of $55.24.

Hedge Funds Weigh In On Freeport-McMoRan

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Continuum Advisory LLC boosted its position in shares of Freeport-McMoRan by 46.8% in the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after purchasing an additional 236 shares during the last quarter. Coppell Advisory Solutions LLC grew its position in shares of Freeport-McMoRan by 47.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company’s stock worth $32,000 after buying an additional 268 shares during the period. PFG Investments LLC increased its stake in shares of Freeport-McMoRan by 1.3% in the 4th quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock valued at $872,000 after acquiring an additional 283 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Freeport-McMoRan by 14.6% in the 3rd quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock valued at $112,000 after acquiring an additional 287 shares during the period. Finally, Palogic Value Management L.P. grew its holdings in Freeport-McMoRan by 1.5% during the fourth quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company’s stock valued at $772,000 after purchasing an additional 292 shares during the period. 80.77% of the stock is owned by institutional investors.

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.