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

Freeport-McMoRan (NYSE:FCX) had its target price lifted by JPMorgan Chase & Co. from $73.00 to $77.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the natural resource company’s stock.

FCX has been the topic of a number of other reports. Barclays initiated coverage on shares of Freeport-McMoRan in a research report on Thursday, May 21st. They issued an “overweight” rating and a $77.00 target price on the stock. Morgan Stanley lifted their price target on shares of Freeport-McMoRan from $66.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday. CICC Research dropped their price objective on shares of Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating on the stock in a research note on Tuesday, April 28th. HSBC upped their price objective on shares of Freeport-McMoRan from $72.00 to $75.00 in a report on Friday, June 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Freeport-McMoRan in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $68.63.

Freeport-McMoRan Trading Up 5.2%

NYSE FCX opened at $60.50 on Thursday. The firm has a market capitalization of $86.97 billion, a PE ratio of 32.18, a P/E/G ratio of 0.59 and a beta of 1.37. The stock’s 50 day moving average is $63.75 and its 200 day moving average is $61.66. Freeport-McMoRan has a twelve month low of $35.15 and a twelve month 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 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. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.24 earnings per share. Research analysts forecast that Freeport-McMoRan will post 2.63 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.075 per share. The ex-dividend date is Wednesday, July 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 15.96%.

Hedge Funds Weigh In On Freeport-McMoRan

A number of hedge funds have recently bought and sold shares of the company. Pinnacle Bancorp Inc. increased its stake in Freeport-McMoRan by 7.9% during the 1st quarter. Pinnacle Bancorp Inc. now owns 2,011 shares of the natural resource company’s stock valued at $118,000 after purchasing an additional 147 shares in the last quarter. Steph & Co. lifted its stake 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 worth $29,000 after buying an additional 150 shares in the last quarter. Essex Bank grew its holdings in shares of Freeport-McMoRan by 1.2% during the first quarter. Essex Bank now owns 14,104 shares of the natural resource company’s stock valued at $829,000 after buying an additional 163 shares during the last quarter. Leo Wealth LLC grew its holdings in shares of Freeport-McMoRan by 2.5% during the fourth quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company’s stock valued at $347,000 after buying an additional 170 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. increased its position in shares of Freeport-McMoRan by 0.9% during the first quarter. Klein Pavlis & Peasley Financial Inc. now owns 18,674 shares of the natural resource company’s stock valued at $1,098,000 after acquiring an additional 175 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan News Summary

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

• Positive Sentiment: JPMorgan raised its price target on Freeport-McMoRan from $73 to $77 and reiterated an overweight rating, signaling confidence in the company’s upside. JPMorgan target hike on Freeport-McMoRan
• Positive Sentiment: Bank of America also lifted its price target from $74 to $80 and kept a buy rating, which adds to bullish sentiment around FCX. Bank of America target hike on Freeport-McMoRan
• Positive Sentiment: Scotiabank raised FY2026 earnings estimates for Freeport-McMoRan and maintained a sector outperform rating with a $77 target, suggesting stronger profit expectations. Scotiabank earnings estimate update on FCX
• Positive Sentiment: Articles highlighting strong copper demand and supply pressure at the Grasberg mine are supporting the stock, since tighter supply can improve pricing power for a major copper producer like Freeport-McMoRan. Grasberg output pressure and copper demand article
• Neutral Sentiment: Freeport-McMoRan is also drawing attention from investors and screeners, but the search interest itself is not a fundamental catalyst. Zacks investor attention article
• Neutral Sentiment: Morgan Stanley kept a Hold rating on FCX, which tempers the bullish case somewhat but does not materially change the outlook. Morgan Stanley hold rating on FCX
• Negative Sentiment: Recent coverage also noted output pressure at Grasberg, which could weigh on near-term production and create some operational risk for investors. Grasberg output pressure article

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.