Freeport-McMoRan (NYSE:FCX) Trading Up 2.3% – Time to Buy?

by · The Markets Daily

Freeport-McMoRan Inc. (NYSE:FCX – Get Free Report) was up 2.3% during trading on Thursday . The company traded as high as $69.44 and last traded at $65.0780. Approximately 48,119,036 shares traded hands during trading, an increase of 100% from the average daily volume of 24,011,500 shares. The stock had previously closed at $63.63.

More Freeport-McMoRan News

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

  • Positive Sentiment: FCX hit an all-time high intraday, reflecting momentum as copper rallies and investor interest climbs. Article Title
  • Positive Sentiment: Freeport beat Q4 profit and revenue estimates and management outlined Grasberg restart plans that refocus investor debate toward recovery and higher future output. This beat underpins today’s buying. Article Title
  • Positive Sentiment: Macro tailwind: MarketBeat and other coverage highlight a structural copper shortage driven by electrification and AI data-center buildouts — a direct long-term demand driver for FCX. Article Title
  • Positive Sentiment: Multiple analyst upgrades and price-target revisions have been published in the last 48 hours, supporting upside momentum and likely contributing to today’s rally. Article Title
  • Positive Sentiment: Unusual options activity: ~174,970 call options traded today (about 65% above typical call volume), indicating speculative bullish positioning by options buyers. (No article link available)
  • Neutral Sentiment: Longer-term outlook pieces note Freeport’s 70% rebound since the September selloff and project solid multi-year upside if copper remains elevated — but they also emphasize output recovery timing as a key variable. Article Title
  • Negative Sentiment: Risks: production disruption at Grasberg (mudslide impacts), elevated valuation metrics after the rally, and the possibility of short-term profit-taking or a pullback if copper prices correct. These factors temper the near-term outlook. Article Title

Analyst Ratings Changes

FCX has been the topic of a number of recent analyst reports. Scotiabank boosted their price objective on shares of Freeport-McMoRan from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday. Morgan Stanley set a $70.00 target price on Freeport-McMoRan in a research report on Tuesday. UBS Group boosted their price target on Freeport-McMoRan from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Jefferies Financial Group restated a “buy” rating and set a $68.00 price objective on shares of Freeport-McMoRan in a research note on Monday, January 5th. Finally, Citigroup lifted their price objective on Freeport-McMoRan from $48.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.40.

Read Our Latest Stock Report on Freeport-McMoRan

Freeport-McMoRan Trading Up 2.3%

The stock has a market cap of $93.45 billion, a P/E ratio of 43.10, a price-to-earnings-growth ratio of 0.76 and a beta of 1.45. The firm’s 50 day simple moving average is $51.13 and its two-hundred day simple moving average is $45.34. The company has a quick ratio of 1.05, a current ratio of 2.29 and a debt-to-equity ratio of 0.29.

Freeport-McMoRan (NYSE:FCX – Get Free Report) last posted its quarterly earnings results on Thursday, January 22nd. The natural resource company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.28 by $0.19. The business had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.42 billion. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 EPS. As a group, equities research analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Thursday, January 15th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. Freeport-McMoRan’s dividend payout ratio is 19.87%.

Insider Buying and Selling

In related news, CAO Ellie L. Mikes sold 9,572 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $47.66, for a total value of $456,201.52. Following the sale, the chief accounting officer owned 38,761 shares of the company’s stock, valued at approximately $1,847,349.26. This trade represents a 19.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Stephen T. Higgins sold 28,423 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $47.99, for a total value of $1,364,019.77. Following the transaction, the chief accounting officer owned 105,294 shares of the company’s stock, valued at approximately $5,053,059.06. The trade was a 21.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.79% of the stock is currently owned by corporate insiders.

Institutional Trading of Freeport-McMoRan

Several hedge funds have recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of Freeport-McMoRan by 24.2% in the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock valued at $564,000 after purchasing an additional 2,882 shares during the period. Bison Wealth LLC grew its holdings in 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 buying an additional 507 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Freeport-McMoRan in the 2nd quarter worth approximately $560,000. V Square Quantitative Management LLC increased its position in Freeport-McMoRan by 29.3% in the 2nd quarter. V Square Quantitative Management LLC now owns 6,667 shares of the natural resource company’s stock valued at $289,000 after acquiring an additional 1,512 shares during the period. Finally, GC Wealth Management RIA LLC bought a new stake in Freeport-McMoRan during the 2nd quarter valued at $296,000. 80.77% of the stock is currently owned by institutional investors.

About Freeport-McMoRan

(Get Free Report)

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.

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