Freeport-McMoRan Upgraded to Buy by StockNews.com

On March 15, 2025, StockNews.com announced an upgrade for Freeport-McMoRan (NYSE:FCX – Free Report), changing its rating from hold to buy. This upgrade reflects a positive outlook for the company moving forward.

Furthermore, Freeport-McMoRan has been featured in several other reports recently. On March 10, Dbs Bank also raised its rating on Freeport-McMoRan, elevating it from hold to a strong-buy rating. In addition, Jefferies Financial Group upgraded the company’s shares from hold to buy, increasing their price target from $40.00 to $48.00 in a report from February 27.

Additionally, Deutsche Bank Aktiengesellschaft moved their rating from hold to buy for Freeport-McMoRan and set a price target of $47.00 in a report on March 6. On the other hand, Scotiabank reduced its price target from $48.00 to $45.00 while maintaining a sector perform rating as reported on January 24. Argus, however, downgraded Freeport-McMoRan from buy to hold in a report dated January 31.

Overall, among equity research analysts, six have issued a hold rating for the stock, while nine have given it a buy rating. Additionally, two analysts have classified it as a strong buy. According to MarketBeat.com, the average rating for Freeport-McMoRan is a moderate buy, with an average price target set at $51.75.

Freeport-McMoRan's Current Performance

As of Wednesday, Freeport-McMoRan shares opened at $38.91. The company holds a market capitalization of $55.91 billion, with a price-to-earnings (P/E) ratio of 30.16 and a price-to-earnings to growth (PEG) ratio of 0.87. Its beta stands at 1.87, indicating higher volatility compared to the overall market.

The firm's 50-day moving average is $37.91, and its 200-day moving average is $42.15. Presently, Freeport-McMoRan's debt-to-equity ratio is 0.31, while its quick ratio is at 1.18 and the current ratio is 2.42. Over the past year, the stock has recorded a low of $33.98 and a high of $55.24.

In terms of earnings, Freeport-McMoRan reported quarterly results on January 23, where it announced earnings per share (EPS) of $0.31, which fell short of the consensus estimate of $0.36 by $0.05. The company had a net margin of 7.42% and a return on equity of 7.50%. Analysts are projecting that Freeport-McMoRan will achieve an EPS of 1.68 for the current year.

Institutional Investor Activity

Recently, various institutional investors and hedge funds have adjusted their positions in Freeport-McMoRan. Prospera Private Wealth LLC increased its shareholding by 4.4% in the third quarter, now owning 5,548 shares valued at approximately $277,000 following an additional purchase of 234 shares. Continuum Advisory LLC significantly raised its stake by 46.8% during the same quarter, now holding 740 shares valued at around $37,000 after acquiring an additional 236 shares.

Meanwhile, Intellectus Partners LLC slightly increased its position by 0.4%, now owning 71,758 shares worth $3,582,000 due to an additional acquisition of 256 shares. Coppell Advisory Solutions LLC also boosted its stake by 47.4% in the fourth quarter and now owns 833 shares valued at approximately $32,000. Lastly, PFG Investments LLC raised its position by 1.3% during the fourth quarter, holding a total of 22,910 shares valued at about $872,000. Notably, around 80.77% of Freeport-McMoRan stock is owned by institutional investors and hedge funds.

Overview of Freeport-McMoRan

Freeport-McMoRan Inc. is primarily engaged in the mining of mineral properties across North America, South America, and Indonesia. The company predominantly explores for a variety of metals, including copper, gold, molybdenum, silver, and more. Some of its notable assets comprise the Grasberg minerals district in Indonesia, as well as various locations in the United States such as Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona, Chino and Tyrone in New Mexico, and Henderson and Climax in Colorado. Additionally, Freeport-McMoRan possesses assets like Cerro Verde in Peru and El Abra in Chile.

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