Wall Street forecasters' projected share prices for Freeport-McMoRan's equities.
Let's dive into the rollercoaster ride of Freeport-McMoRan Inc. (FCX):
Situated in sunny Phoenix, Arizona, Freeport-McMoRan Inc., also known as FCX, is a mining titan that focuses on unearthing some of the world's most valuable resources, including copper, gold, molybdenum, silver, and more. With an impressive market cap of $52.3 billion, its operations stretch across North America, South America, and Indonesia.
However, the journey for this mineral-rich company hasn't been smooth lately. Over the past 52 weeks, FCX shares have faced a severe headwind, plummeting a hefty 27.1%, contrasting the 11.7% surge the broader S&P 500 Index has witnessed. Despite this, FCX has managed to remain slightly above water on a YTD basis, compared to SPX's 4.7% decline.
The US-China supply chain squeeze seems to have hit hard, as FCX has underperformed compared to the Ishares Copper and Metals Mining ETF (ICOP), dipping 14.5% over the same period and returning a mere 2.8% on a YTD basis.
But the Q1 2025 results, released on Apr. 24, brought a glimmer of hope. Despite a 9.4% year-over-year decline in revenue to $5.7 billion, the company managed to exceed analysts' expectations, with revenue of $5.3 billion forecasted. Copper sales clocked in at 872 million pounds, surpassing the company's January 2025 guidance. The company's adjusted EPS also met analysts' expectations, settling at $0.24.
For the current fiscal year, ending in December 2025, analysts predict FCX's adjusted EPS will surge an impressive 9.5% year-over-year to $1.62. Their earnings surprise history is a mixed bag, with the company beating or metting the consensus estimates in three out of the last four quarters, but slipping once.
As of May 2025, 17 analysts covering the stock are jointly giving it a "Moderate Buy" consensus rating. This breakdown includes 10 "Strong Buys," two "Moderate Buys," and five "Holds," making the overall sentiment somewhat bullish. This configuration is more optimistic than it was three months ago, as six "Moderate Buy" ratings were reported then.
On Apr. 25, Jefferies upped Freeport-McMoRan's price target to $50 while reiterating a "Buy" rating. As things stand, Freeport-McMoRan is currently trading below the mean price target of $46. The maximum potential upside, represented by the Street-high price target of $55, hovers at a significant 51.1%.
It's important to note that, at the time of publication, the author of this article had no direct or indirect positions in any of the securities mentioned. For a more detailed outlook, be sure to check out our website's Active Investor newsletter. Stay informed and make your move!
Data sourced from various financial news outlets and platforms, including MarketBeat, Nasdaq, TipRanks, and Benzinga. For specific details on data sources, consult our Disclosure Policy.
- Theimportance of Freeport-McMoRan Inc.'s (FCX) operations, situated in Phoenix, Arizona, lies in its focus on mining valuable resources like copper, gold, molybdenum, silver, and more.
- Despite Freeport-McMoRan's Q1 2025 financial results surpassing expectations, the company's shares have faced a steep decline over the past year, creating a contrast with the broader S&P 500 Index's rise.
- The US-China supply chain squeeze has indirectly affected Freeport-McMoRan's performance, causing it to underperform compared to the Ishares Copper and Metals Mining ETF (ICOP) over the same period.
- Investors, considering the current sentiment, may find an opportunity in Freeport-McMoRan Inc., as analysts predict its adjusted EPS to surge 9.5% year-over-year for the current fiscal year and numerous analysts have given the stock a "Moderate Buy" consensus rating, with a potential upside of 51.1%.
