Scotiabank Predicts Increased Earnings for Freeport-McMoRan

Freeport-McMoRan Inc. (NYSE:FCX) – Stock analysts at Scotiabank lifted their FY2026 earnings estimates for Freeport-McMoRan in a research report issued to clients and investors on Wednesday, March 19th. Scotiabank analyst O. Wowkodaw now anticipates that the natural resource company will earn $1.49 per share for the year, up from their prior estimate 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.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 EPS 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%.

A number of other research analysts have also commented on the stock. JPMorgan Chase & Co. raised shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $48.00 to $52.00 in a research report on Thursday. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their price target for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. Finally, Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $52.04.

Freeport-McMoRan Stock Down 1.0 %

Shares of FCX opened at $40.31 on Monday. The company has a 50-day simple moving average of $38.03 and a 200-day simple moving average of $41.97. The firm has a market capitalization 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 debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan has a 52 week low of $33.98 and a 52 week high of $55.24.

Institutional Trading of Freeport-McMoRan

Large investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its stake in Freeport-McMoRan by 9.7% during the third quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock worth $8,219,000 after buying an additional 14,501 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Freeport-McMoRan during the third quarter worth about $754,000. Madison Investment Advisors LLC bought a new stake in Freeport-McMoRan during the fourth quarter worth about $3,388,000. Principal Financial Group Inc. grew its stake in Freeport-McMoRan by 4.1% during the third quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company’s stock worth $84,085,000 after buying an additional 66,699 shares during the last quarter. Finally, Czech National Bank grew its stake in Freeport-McMoRan by 6.4% during the fourth quarter. Czech National Bank now owns 311,555 shares of the natural resource company’s stock worth $11,864,000 after buying an additional 18,852 shares during the last quarter. 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.