Freeport-McMoRan (NYSE:FCX) Trading Down 3.6% – Time to Sell?
by Amy Steele · The Cerbat GemFreeport-McMoRan Inc. (NYSE:FCX – Get Free Report)’s share price dropped 3.6% during mid-day trading on Tuesday . The stock traded as low as $67.46 and last traded at $67.6350. Approximately 16,987,697 shares were traded during mid-day trading, a decline of 15% from the average daily volume of 19,877,430 shares. The stock had previously closed at $70.18.
Key Freeport-McMoRan News
Here are the key news stories impacting Freeport-McMoRan this week:
- Positive Sentiment: Q1 beat: FCX reported adjusted EPS of $0.57 vs. $0.47 consensus and revenue of $6.23B, with profits helped by stronger commodity prices. FCX’s Q1 Earnings and Revenues Top Estimates
- Positive Sentiment: Commodity tailwinds: Higher copper, gold and molybdenum prices materially lifted margins and drove a large year-over-year profit increase despite weaker volumes. Freeport beats first-quarter profit
- Neutral Sentiment: Investor materials available: Management provided an earnings presentation and full call transcript for details on the production outlook and timing for Grasberg’s ramp-up. Review for guidance nuance. Q1 2026 Earnings Call Transcript
- Neutral Sentiment: Valuation/analyst context: Some firms had recently raised targets on recovery hopes, but analysts now are re‑rating near‑term production expectations — read for evolving consensus. Assessing Freeport-McMoRan Valuation
- Negative Sentiment: Production cut at Grasberg: FCX trimmed copper sales volume outlook by about 300 million pounds for 2026 and 2027, citing a slower ramp‑up after the Grasberg incident — this reduces near‑term supply and revenue visibility. FCX Stock Dives On Copper Output Cut
- Negative Sentiment: Market reaction: Despite the beat, shares plunged after management’s weaker production guidance — coverage and headlines focused on the output miss and Grasberg delay. Stock Plunges After Slashing Production Forecasts
- Negative Sentiment: Analyst tweaks and guidance risk: Some firms trimmed near‑term EPS forecasts after the update, highlighting that stronger metal prices may not fully offset lower volumes this year. Barron’s: Stock Falls After Earnings
Analysts Set New Price Targets
FCX has been the subject of several recent analyst reports. BNP Paribas Exane increased their price objective on shares of Freeport-McMoRan from $56.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Freeport-McMoRan from $58.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. JPMorgan Chase & Co. increased their price objective on shares of Freeport-McMoRan from $68.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Argus upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Friday, February 13th. Finally, HSBC raised their target price on shares of Freeport-McMoRan from $69.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.21.
View Our Latest Stock Analysis on FCX
Freeport-McMoRan Trading Down 12.6%
The company has a current ratio of 2.29, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The firm has a market cap of $88.35 billion, a PE ratio of 40.71, a P/E/G ratio of 0.78 and a beta of 1.48. The company’s 50-day moving average is $62.51 and its 200 day moving average is $53.58.
Freeport-McMoRan (NYSE:FCX – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.40 billion. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 EPS. As a group, sell-side analysts predict that Freeport-McMoRan Inc. will post 2.54 EPS for the current year.
Freeport-McMoRan Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, April 15th. Freeport-McMoRan’s dividend payout ratio is 19.87%.
Insider Buying and Selling
In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 11,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $62.03, for a total value of $682,330.00. Following the completion of the sale, the chief accounting officer owned 40,773 shares in the company, valued at $2,529,149.19. This represents a 21.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Stephen T. Higgins sold 29,654 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $63.00, for a total transaction of $1,868,202.00. Following the completion of the sale, the chief accounting officer owned 76,445 shares of the company’s stock, valued at approximately $4,816,035. The trade was a 27.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 565,145 shares of company stock worth $35,839,918. Insiders own 0.75% of the company’s stock.
Institutional Investors Weigh In On Freeport-McMoRan
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV increased its stake in shares of Freeport-McMoRan by 49.0% during the 4th quarter. KBC Group NV now owns 221,838 shares of the natural resource company’s stock worth $11,267,000 after purchasing an additional 73,002 shares during the last quarter. Great Lakes Advisors LLC increased its stake in shares of Freeport-McMoRan by 8.0% during the 3rd quarter. Great Lakes Advisors LLC now owns 1,551,258 shares of the natural resource company’s stock worth $60,840,000 after purchasing an additional 115,285 shares during the last quarter. Summit Global Investments increased its stake in shares of Freeport-McMoRan by 278.4% during the 3rd quarter. Summit Global Investments now owns 46,157 shares of the natural resource company’s stock worth $1,810,000 after purchasing an additional 33,959 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Freeport-McMoRan by 190.9% during the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock worth $1,431,326,000 after purchasing an additional 23,950,557 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Freeport-McMoRan during the 3rd quarter worth $1,066,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.
About Freeport-McMoRan
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.