With a market cap of $80.8 billion, Freeport-McMoRan Inc. (FCX) is an Arizona-based mining and metals company. Freeport’s core business is exploration, mining, and production of mineral resources, with a strategic emphasis on copper, a critical industrial metal used in electrical infrastructure, renewable energy, and electrification. The company is expected to announce its fiscal first-quarter earnings soon.
Ahead of the event, analysts expect the metal giant to report a profit of $0.49 per share on a diluted basis, up 104.2% from $0.24 per share in the year-ago quarter. The company beat or met consensus estimates in all four quarters over the past year.
For the current year, analysts expect FCX to report EPS of $2.55, up 44.1% from $1.77 in fiscal 2025. Its EPS is expected to rise 22.4% year over year to $3.12 in fiscal 2027.
FCX stock has climbed 42.2% over the past year, outpacing the S&P 500 Index’s ($SPX) 13.7% gains and the Materials Select Sector SPDR Fund’s (XLB) 15.4% rally over the same time frame.
Freeport-McMoRan declined over 2% on Mar. 26 as mining stocks broadly weakened, pressured by a sharp drop in precious metal prices, particularly gold and silver.
Analysts’ consensus opinion on FCX stock is highly bullish, with a “Strong Buy” rating overall. Out of 21 analysts covering the stock, 15 advise a “Strong Buy” rating, three suggest a “Moderate Buy,” and three give a “Hold.” FCX’s average analyst price target is $67.95, indicating a 24.3% potential upside from the current levels.
