Freeport-McMoRan Faces Challenges Despite Recent Earnings Report

Phoenix, Arizona-based Freeport-McMoRan Inc. (FCX) focuses on mining mineral properties, primarily exploring for copper, gold, molybdenum, silver, and other metals. The company boasts a market capitalization of $52.3 billion and operates in North America, South America, and Indonesia.

Share Performance Compared to the Market

Over the past 52 weeks, Freeport-McMoRan’s shares have underperformed relative to the broader market. FCX has declined 27.1%, while the S&P 500 Index ($SPX) gained 11.7%. On a year-to-date (YTD) basis, shares of FCX are down 4.4%, which is slightly better than the SPX’s 4.7% decline.

Comparison with Other Mining Stocks

Examining the performance further, Freeport-McMoRan has lagged behind the iShares Copper and Metals Mining ETF (ICOP), which saw a 14.5% drop over the last year and a 2.8% gain YTD.

Recent Earnings Results

Shares of FCX rose 6.9% following the strong Q1 2025 results announced on April 24. While quarterly revenue decreased 9.4% year-over-year to $5.7 billion, it exceeded the consensus estimate of $5.3 billion. The company reported copper sales of 872 million pounds, surpassing its January 2025 guidance. Adjusted earnings per share (EPS) met expectations at $0.24.

Analysts’ Predictions and Ratings

For the current fiscal year, ending in December 2025, analysts anticipate a 9.5% year-over-year increase in FCX’s adjusted EPS, projecting it to reach $1.62. The company’s earnings surprise history has been mixed; it met or exceeded consensus estimates in three of the last four quarters, missing once.

Among the 17 analysts monitoring Freeport-McMoRan, the consensus rating stands at “Moderate Buy,” supported by 10 “Strong Buy” ratings, two “Moderate Buys,” and five “Holds.” This is an improvement from three months ago, when there were only six “Moderate Buy” ratings.

Price Target Adjustments

On April 25, Jefferies raised Freeport-McMoRan’s price target to $50 while maintaining a “Buy” recommendation. Currently, FCX is trading below the average price target of $46, with the highest target set at $55, indicating a potential upside of 51.1% from current levels.

On the date of publication, Sohini Mondal did not hold either directly or indirectly positions in any of the mentioned securities. All information is for informational purposes only. For further details, please view the Barchart Disclosure Policy here.

The views and opinions expressed reflect the author’s perspective and may not represent those of Nasdaq, Inc.