Zacks Research Has Pessimistic Outlook of FCX Q1 Earnings

Freeport-McMoRan Inc. (NYSE:FCX) – Analysts at Zacks Research lowered their Q1 2025 earnings per share estimates for shares of Freeport-McMoRan in a note issued to investors on Tuesday, February 25th. Zacks Research analyst A. Barman now forecasts that the natural resource company will post earnings of $0.22 per share for the quarter, down from their prior forecast of $0.24. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $1.68 per share. Zacks Research also issued estimates for Freeport-McMoRan’s FY2025 earnings at $1.64 EPS, Q1 2026 earnings at $0.51 EPS, Q3 2026 earnings at $0.61 EPS, FY2026 earnings at $2.12 EPS and FY2027 earnings at $2.94 EPS.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. dropped their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. BMO Capital Markets dropped their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Jefferies Financial Group downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating and dropped their price target for the company from $48.00 to $40.00 in a research report on Friday, January 24th. Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Scotiabank dropped their price target on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.46.

Freeport-McMoRan Stock Up 3.4 %

FCX stock opened at $38.03 on Thursday. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $54.64 billion, a PE ratio of 29.48, a PEG ratio of 0.87 and a beta of 1.85. Freeport-McMoRan has a twelve month low of $34.89 and a twelve month high of $55.24. The stock has a 50-day simple moving average of $38.37 and a two-hundred day simple moving average of $42.66.

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

Hedge Funds Weigh In On Freeport-McMoRan

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Freeport-McMoRan by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company’s stock valued at $4,692,191,000 after buying an additional 642,776 shares during the period. Fisher Asset Management LLC increased its stake in shares of Freeport-McMoRan by 2.4% during the third quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock valued at $2,965,717,000 after buying an additional 1,392,494 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Freeport-McMoRan by 21.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,885,531 shares of the natural resource company’s stock valued at $1,214,203,000 after buying an additional 5,735,171 shares during the period. Geode Capital Management LLC increased its stake in shares of Freeport-McMoRan by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 29,579,298 shares of the natural resource company’s stock valued at $1,122,922,000 after buying an additional 688,240 shares during the period. Finally, Franklin Resources Inc. grew its stake in Freeport-McMoRan by 8.0% in the fourth quarter. Franklin Resources Inc. now owns 29,502,220 shares of the natural resource company’s stock worth $1,123,445,000 after purchasing an additional 2,191,926 shares during the period. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Company Profile

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.