
Freeport-McMoRan (FCX) Stock Forecast & Price Target
Freeport-McMoRan (FCX) Analyst Ratings
Bulls say
Freeport-McMoRan has demonstrated a strong operational capacity, selling approximately 1.1 million metric tons of copper and 530,000 ounces of gold in 2025, supported by its substantial ownership in key mines, including Grasberg and Cerro Verde. The company possesses about 25 years of copper reserves and is expected to increase its copper and gold sales significantly by 2030, projecting 1.3 million metric tons of copper and 610,000 ounces of gold. With a robust balance sheet, low debt leverage, and anticipated strong free cash flow of $2.5 billion in 2026, $4.7 billion in 2027, and $3.5 billion in 2028, Freeport-McMoRan is well-positioned for improved shareholder returns and a favorable re-rating of its shares.
Bears say
Freeport-McMoRan experienced a significant decline in its revised EBITDA estimates for 2025-2027, with an average reduction of 11% per annum, indicating weaker financial performance than expected. The updated production guidance for the Grasberg mine showed considerable shortfalls, with anticipated 2026 output falling approximately 8% and 14% below previous forecasts for copper and gold, respectively, and 2027 estimates demonstrating similar downward revisions of around 15% and 19%. Additionally, despite lower capital expenditures guidance, the company is projected to generate weaker but still growing free cash flow, suggesting ongoing financial challenges amid operational setbacks and production delays.
This aggregate rating is based on analysts' research of Freeport-McMoRan and is not a guaranteed prediction by Public.com or investment advice.
Freeport-McMoRan (FCX) Analyst Forecast & Price Prediction
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