Freeport-McMoRan (NYSE:FCX) Price Target Raised to $76.00

Freeport-McMoRan (NYSE:FCX) had its price objective increased by Stifel Nicolaus from $52.00 to $76.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the natural resource company’s stock.

Other research analysts have also recently issued reports about the company. CICC Research upped their price objective on Freeport-McMoRan from $50.40 to $64.40 and gave the company an “outperform” rating in a report on Monday, January 26th. Morgan Stanley set a $70.00 price target on Freeport-McMoRan in a research note on Tuesday, January 27th. BNP Paribas Exane lowered their price target on Freeport-McMoRan from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, December 5th. Citigroup boosted their price objective on shares of Freeport-McMoRan from $48.00 to $67.00 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, BMO Capital Markets upped their target price on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average target price of $60.26.

Freeport-McMoRan Trading Up 1.3%

Shares of FCX opened at $62.82 on Wednesday. The company has a current ratio of 2.29, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. Freeport-McMoRan has a 12-month low of $27.66 and a 12-month high of $69.44. The firm has a 50-day moving average price of $55.94 and a 200 day moving average price of $46.82. The firm has a market capitalization of $90.21 billion, a P/E ratio of 41.60, a P/E/G ratio of 0.68 and a beta of 1.47.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 22nd. The natural resource company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.19. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The company had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same period in the previous year, the firm earned $0.31 earnings per share. Freeport-McMoRan’s quarterly revenue was down 1.5% compared to the same quarter last year. Sell-side analysts forecast that Freeport-McMoRan will post 1.68 EPS for the current year.

Freeport-McMoRan Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, January 15th. Freeport-McMoRan’s dividend payout ratio is currently 19.87%.

Insider Activity at Freeport-McMoRan

In related news, EVP Douglas N. Currault II sold 75,000 shares of Freeport-McMoRan stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $64.52, for a total transaction of $4,839,000.00. Following the sale, the executive vice president directly owned 219,181 shares in the company, valued at $14,141,558.12. This trade represents a 25.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard C. Adkerson sold 152,960 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $64.65, for a total transaction of $9,888,864.00. Following the completion of the sale, the chairman directly owned 3,356,159 shares of the company’s stock, valued at approximately $216,975,679.35. This trade represents a 4.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 513,986 shares of company stock worth $32,124,432 in the last ninety days. Company insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Freeport-McMoRan by 24.2% during the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after acquiring an additional 2,882 shares during the last quarter. Bison Wealth LLC lifted its stake in shares of Freeport-McMoRan by 5.6% in the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after acquiring an additional 507 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Freeport-McMoRan in the second quarter valued at about $560,000. Concurrent Investment Advisors LLC increased its stake in shares of Freeport-McMoRan by 41.2% during the second quarter. Concurrent Investment Advisors LLC now owns 48,088 shares of the natural resource company’s stock worth $2,085,000 after acquiring an additional 14,033 shares during the period. Finally, CWM LLC raised its holdings in Freeport-McMoRan by 111.7% during the second quarter. CWM LLC now owns 147,117 shares of the natural resource company’s stock worth $6,378,000 after purchasing an additional 77,620 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan News Roundup

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

• Positive Sentiment: BNP Paribas Exane raised its price target on FCX to $75 (from $56) and kept an “outperform” rating — a sizeable lift to upside expectations. Read More.
• Positive Sentiment: Argus upgraded FCX from “hold” to “buy,” reinforcing buy-side momentum and contributing to short‑term demand. Read More.
• Positive Sentiment: Other broker actions (Stifel raised its target to $76; UBS, Wells Fargo and Morgan Stanley have recently lifted targets) add to the analyst-driven narrative supporting higher valuations. Read More.
• Positive Sentiment: Zacks and other research outlets highlight rising earnings-estimate revisions and momentum characteristics for FCX, which can justify multiple expansion if commodity prices and volumes cooperate. Read More.
• Neutral Sentiment: Increased media and analyst attention (multiple Zacks pieces, MSN/Yahoo coverage) is amplifying flows into FCX but is informational rather than a direct operational catalyst. Read More.
• Negative Sentiment: Grasberg production setbacks materially reduced Q4 copper/gold volumes, a real operational headwind that can limit near-term revenue despite stronger prices. Read More.
• Negative Sentiment: Large insider sales: Chairman Richard Adkerson disclosed multi-hundred-thousand‑share disposals (Feb. 10–11 filings) totaling tens of millions of dollars — these trades can sap sentiment even if explained by diversification or tax planning. Read More.
• Negative Sentiment: EVP Douglas Currault II sold 75,000 shares (~$4.8M); insider selling at the executive level is a nearer-term negative for perception of internal conviction. Read More.

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.