Scotiabank Has Bullish Forecast for FCX FY2026 Earnings

Freeport-McMoRan Inc. (NYSE:FCX) – Analysts at Scotiabank lifted their FY2026 earnings estimates for shares of Freeport-McMoRan in a report released on Wednesday, March 19th. Scotiabank analyst O. Wowkodaw now forecasts that the natural resource company will post earnings per share of $1.49 for the year, up from their prior forecast of $1.42. Scotiabank currently has a “Sector Perform” rating and a $45.00 price objective on the stock. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $1.68 per share.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%.

Several other analysts also recently weighed in on FCX. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. StockNews.com lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, March 20th. BMO Capital Markets lowered their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. raised shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $48.00 to $52.00 in a report on Thursday, March 20th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $52.04.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $41.66 on Monday. The company has a market capitalization of $59.87 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 0.87 and a beta of 1.87. Freeport-McMoRan has a 1-year low of $33.98 and a 1-year high of $55.24. The business has a 50-day moving average of $38.08 and a 200-day moving average of $41.97. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18.

Institutional Trading of Freeport-McMoRan

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Continuum Advisory LLC boosted its holdings in shares of Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after buying an additional 236 shares during the period. Coppell Advisory Solutions LLC raised its stake in Freeport-McMoRan by 47.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company’s stock valued at $32,000 after purchasing an additional 268 shares during the period. PFG Investments LLC lifted its holdings in shares of Freeport-McMoRan by 1.3% in the fourth quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock valued at $872,000 after purchasing an additional 283 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Freeport-McMoRan by 14.6% in the third quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock worth $112,000 after buying an additional 287 shares during the period. Finally, Palogic Value Management L.P. grew its holdings in shares of Freeport-McMoRan by 1.5% during the fourth quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company’s stock valued at $772,000 after buying an additional 292 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.