Raymond James Forecasts Weaker Earnings for Freeport-McMoRan

Freeport-McMoRan Inc. (NYSE:FCX) – Equities research analysts at Raymond James decreased their FY2025 earnings estimates for shares of Freeport-McMoRan in a research note issued on Thursday, January 23rd. Raymond James analyst B. Macarthur now expects that the natural resource company will earn $1.67 per share for the year, down from their prior estimate of $1.79. Raymond James has a “Outperform” rating and a $57.00 price target on the stock. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $1.42 per share. Raymond James also issued estimates for Freeport-McMoRan’s Q1 2026 earnings at $0.52 EPS, Q2 2026 earnings at $0.54 EPS, Q3 2026 earnings at $0.54 EPS and Q4 2026 earnings at $0.56 EPS.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%.

A number of other research firms also recently commented on FCX. Jefferies Financial Group downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $48.00 to $40.00 in a report on Friday. BMO Capital Markets decreased their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Scotiabank reduced their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.46.

Freeport-McMoRan Stock Down 3.0 %

Shares of NYSE:FCX opened at $36.67 on Monday. The firm has a market cap of $52.70 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 2.39 and a beta of 1.87. The company has a fifty day simple moving average of $40.67 and a 200 day simple moving average of $43.74. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. Freeport-McMoRan has a 12-month low of $36.26 and a 12-month high of $55.24.

Institutional Investors Weigh In On Freeport-McMoRan

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Fisher Asset Management LLC raised its position in Freeport-McMoRan by 2.4% in the third quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock worth $2,965,717,000 after acquiring an additional 1,392,494 shares in the last quarter. Geode Capital Management LLC raised its position in Freeport-McMoRan by 1.9% in the third quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company’s stock worth $1,436,455,000 after acquiring an additional 529,099 shares in the last quarter. Franklin Resources Inc. raised its position in Freeport-McMoRan by 9.5% in the third quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock worth $1,348,522,000 after acquiring an additional 2,366,187 shares in the last quarter. Mountaineer Partners Management LLC raised its position in Freeport-McMoRan by 4,767.8% in the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock worth $595,702,000 after acquiring an additional 11,687,982 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Freeport-McMoRan by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,223,038 shares of the natural resource company’s stock worth $410,494,000 after acquiring an additional 127,251 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors.

About Freeport-McMoRan

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.