Freeport-McMoRan Inc. (FCX), headquartered in Phoenix, Arizona, is a leading international metals company with the goal of being a leader in copper. With a market capitalization of $87.1 billion, the company operates mineral properties exploring copper, gold, molybdenum, silver and other metals.
Shares of this leading international metals company have outperformed the broader market over the past year. FCX has gained 56.3% during this period, while the broader S&P 500 index ($SPX) has risen almost 29.1%. In 2026, FCX stock is up 14.6%, outpacing the SPX’s 4.3% gain on a year-over-year basis.
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To narrow the focus, FCX’s underperformance is evident when compared to the iShares Copper and Metals Mining ETF (ICOP). The exchange-traded fund has gained about 84.4% over the past year. However, the stock’s year-to-date returns dwarf the ETF’s 11.6% gains over the same time period.
On April 23, FCX shares plunged 12.6% after reporting its first-quarter results. Its adjusted EPS of $0.57 beat Wall Street expectations of $0.47. The company’s revenue was $6.2 billion, beating Wall Street forecasts of $5.6 billion.
For the current fiscal year, which ends in December, analysts expect FCX’s earnings per share to grow 39.6% to $2.47 on a diluted basis. The company’s track record of earnings surprises is impressive. It beat the consensus estimate in each of the last four quarters.
Among the 22 analysts covering FCX stock, the consensus is a “Strong Buy.” This is based on 16 “Strong Buy” ratings, two “Moderate Buys” and four “Holds.”
This setup is more bullish than a month ago, with 15 analysts suggesting a “strong buy” and three analysts recommending a “moderate buy.”
On April 26, JPMorgan Chase & Co. (JPM) analyst Bill Peterson maintained a “Buy” rating on FCX ​​and set a price target of $76, implying a potential upside of 30.6% from current levels.
The average price target of $69.80 represents a 19.9% ​​premium to FCX’s current price levels. The Street’s high price target of $81 suggests a notable upside potential of 39.2%.
On the date of publication, Neha Panjwani had no (directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. This article was originally published on Barchart.com