Freeport-McMoRan (NYSE:FCX) Price Target Lowered to $66.00 at Citigroup

02 May 2026, 13:10 by Renee Jackson · The Cerbat Gem

Freeport-McMoRan (NYSE:FCX – Free Report) had its price target reduced by Citigroup from $67.00 to $66.00 in a research note published on Friday,MarketScreener reports.

FCX has been the subject of a number of other reports. Bank of America lifted their price objective on shares of Freeport-McMoRan from $68.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Jefferies Financial Group set a $75.00 price target on shares of Freeport-McMoRan in a research note on Thursday, April 23rd. BNP Paribas Exane lowered their price target on shares of Freeport-McMoRan from $75.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday. Morgan Stanley reissued an “equal weight” rating and issued a $66.00 price target (down from $70.00) on shares of Freeport-McMoRan in a research note on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Freeport-McMoRan from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and a consensus target price of $65.14.

Read Our Latest Stock Analysis on Freeport-McMoRan

Freeport-McMoRan Price Performance

Shares of NYSE FCX traded down $1.14 during mid-day trading on Friday, reaching $56.64. 14,893,214 shares of the company were exchanged, compared to its average volume of 15,231,413. Freeport-McMoRan has a 52 week low of $35.15 and a 52 week high of $70.96. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $81.40 billion, a PE ratio of 30.13, a PEG ratio of 0.69 and a beta of 1.32. The company’s 50 day moving average price is $62.16 and its 200 day moving average price is $54.24.

Freeport-McMoRan (NYSE:FCX – Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the previous year, the firm posted $0.24 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. Sell-side analysts forecast that Freeport-McMoRan will post 2.55 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were paid a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $0.30 annualized dividend and a yield of 0.5%. Freeport-McMoRan’s payout ratio is currently 15.96%.

Insider Transactions at Freeport-McMoRan

In other Freeport-McMoRan news, CFO Maree E. Robertson sold 48,500 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $61.55, for a total value of $2,985,175.00. Following the transaction, the chief financial officer owned 79,894 shares in the company, valued at approximately $4,917,475.70. The trade was a 37.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ellie L. Mikes sold 11,000 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $62.03, for a total transaction of $682,330.00. Following the completion of the transaction, the chief accounting officer owned 40,773 shares in the company, valued at $2,529,149.19. The trade was a 21.25% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 565,145 shares of company stock valued at $35,839,918. Company insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Freeport-McMoRan

Hedge funds have recently modified their holdings of the company. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Freeport-McMoRan in the third quarter valued at about $25,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Freeport-McMoRan in the fourth quarter valued at about $25,000. Salomon & Ludwin LLC increased its position in shares of Freeport-McMoRan by 1,962.9% in the third quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company’s stock valued at $29,000 after acquiring an additional 687 shares during the period. Steph & Co. increased its position in shares of Freeport-McMoRan by 43.7% in the first quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock valued at $29,000 after acquiring an additional 150 shares during the period. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Freeport-McMoRan in the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

About Freeport-McMoRan

(Get Free Report)

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.