Freeport-McMoRan (NYSE:FCX) Given New $77.00 Price Target at JPMorgan Chase & Co.

Freeport-McMoRan (NYSE:FCX) had its price target upped by analysts at JPMorgan Chase & Co. from $73.00 to $77.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the natural resource company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 34.04% from the stock’s previous close.

A number of other research firms have also recently commented on FCX. Citigroup lowered their target price on Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, May 1st. UBS Group boosted their price objective on shares of Freeport-McMoRan from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. The Goldman Sachs Group set a $74.00 target price on shares of Freeport-McMoRan in a report on Wednesday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Freeport-McMoRan in a research note on Friday, May 15th. Finally, Barclays assumed coverage on shares of Freeport-McMoRan in a research note on Thursday, May 21st. They issued an “overweight” rating and a $77.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.63.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $57.45 on Thursday. The firm has a market capitalization of $82.58 billion, a price-to-earnings ratio of 30.56, a PEG ratio of 0.61 and a beta of 1.37. The stock has a fifty day moving average of $63.71 and a 200 day moving average of $61.58. Freeport-McMoRan has a 52 week low of $35.15 and a 52 week high of $72.28. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The firm had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period last year, the company posted $0.24 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, research analysts expect that Freeport-McMoRan will post 2.59 earnings per share for the current year.

Institutional Investors Weigh In On Freeport-McMoRan

Institutional investors and hedge funds have recently bought and sold shares of the company. Steph & Co. lifted its stake in Freeport-McMoRan by 43.7% in the first quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock worth $29,000 after acquiring an additional 150 shares during the period. Cassaday & Co Wealth Management LLC bought a new stake in shares of Freeport-McMoRan in the 1st quarter valued at about $29,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Freeport-McMoRan in the 4th quarter worth approximately $25,000. Kemnay Advisory Services Inc. bought a new position in shares of Freeport-McMoRan during the fourth quarter valued at approximately $29,000. Finally, Financial Life Planners purchased a new position in Freeport-McMoRan during the first quarter valued at approximately $34,000. 80.77% of the stock is owned by institutional investors.

Key Freeport-McMoRan News

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

• Positive Sentiment: Scotiabank raised its FY2026 EPS estimate for Freeport-McMoRan to $3.01 from $2.60, well above the current consensus of $2.59, while maintaining a Sector Outperform rating and a $77 price target.
• Positive Sentiment: Morgan Stanley lifted its price target on FCX to $70 from $66, reinforcing the view that the stock still has meaningful upside from current levels.
• Positive Sentiment: Articles focused on copper demand highlighted strong fundamentals from electrification, grid expansion, and data center growth, which support Freeport-McMoRan’s core copper business even as supply remains tight.
• Neutral Sentiment: Freeport-McMoRan declared a $0.15 per share cash dividend, which may attract income investors, but the headline was mostly framed as a valuation question rather than a clear catalyst. Freeport-McMoRan (FCX) Declared A Cash Dividend, Is It Still 19% Undervalued?
• Negative Sentiment: Reports noted output pressure at the key Grasberg mine, which could weigh on near-term production and raise concern about supply execution. Freeport McMoran (FCX) Faces Grasberg Output Pressure As Copper Demand Stays Strong
• Negative Sentiment: Recent commentary also suggested broader commodity forecasters are turning more cautious on metals, which could cap enthusiasm for FCX if copper prices soften.

Freeport-McMoRan Company Profile

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.