Scotiabank Revises Freeport-McMoRan Earnings Projection for 2026

Freeport-McMoRan Inc. (NYSE:FCX - Free Report) has recently seen an upward revision in earnings estimates by Scotiabank. In a research report published on March 19th, Scotiabank analyst O. Wowkodaw adjusted the forecast for the company's earnings per share (EPS) for FY2026. The new expectation is set at $1.49 per share, an increase from the prior prediction of $1.42.

Analyst Ratings and Price Target

Scotiabank maintains a "Sector Perform" rating on Freeport-McMoRan and has set a target price of $45.00 for the stock. In addition, the current consensus estimate for the company’s full-year earnings stands at $1.68 per share.

Recent Analyst Reports

In the last few weeks, several other research firms have also shared their views on Freeport-McMoRan. StockNews.com recently downgraded the company from a "buy" to a "hold" rating. Conversely, Jefferies Financial Group upgraded the stock from "hold" to "buy," raising their price target from $40.00 to $48.00. BMO Capital Markets lowered their price target from $54.00 to $50.00 but retained an "outperform" rating. Dbs Bank increased their rating from "hold" to "strong-buy," while Argus downgraded the stock from "buy" to "hold." Overall, six analysts rate Freeport-McMoRan as a hold, nine recommend a buy, and two suggest a strong buy. According to data from MarketBeat.com, the consensus rating for the stock is currently a "Moderate Buy" with an average target price of $52.04.

Stock Performance and Market Data

As of Monday, Freeport-McMoRan shares opened at $40.31. The stock's performance has shown a 50-day moving average price of $38.03 and a 200-day moving average price of $41.97. The company's market capitalization stands at $57.93 billion, with a price-to-earnings (P/E) ratio of 31.25. Additionally, Freeport-McMoRan has a P/E/G (price/earnings to growth) ratio of 0.87 and a beta of 1.87. The company’s current ratio is 2.42, quick ratio is 1.18, and it has a debt-to-equity ratio of 0.31. Over the past year, the stock has seen a low of $33.98 and a high of $55.24.

Earnings Results Background

Freeport-McMoRan's most recent earnings results were announced on January 23rd, where the company reported an EPS of $0.31 for the quarter, falling short of the consensus estimate of $0.36 by $0.05. The company recorded a net margin of 7.42% and a return on equity of 7.50%.

Institutional Investor Activity

Recently, various institutional investors have adjusted their holdings in Freeport-McMoRan. Continuum Advisory LLC increased its shareholdings by 46.8% in the third quarter, now owning 740 shares worth $37,000 after adding 236 shares during the period. Coppell Advisory Solutions LLC also raised its holdings by 47.4% during the fourth quarter, owning 833 shares valued at $32,000 after acquiring 268 additional shares. Other notable investors include PFG Investments LLC, which raised its stake by 1.3%, and Palogic Value Management L.P. with a 1.5% increase. Overall, institutional investors hold approximately 80.77% of the company’s stock.

Company Overview

Freeport-McMoRan Inc. engages primarily in the mining of mineral properties located in North America, South America, and Indonesia. The company primarily explores for metals such as copper, gold, molybdenum, and silver. Key assets of the firm include the Grasberg minerals district in Indonesia, as well as several mining operations in Arizona, New Mexico, Colorado, Peru, and Chile.

Freeport-McMoRan, Earnings, Investment, Analysts