
Freeport-McMoRan (FCX) Stock Forecast & Price Target
Freeport-McMoRan (FCX) Analyst Ratings
Bulls say
Freeport-McMoRan maintains a substantial presence in the copper mining industry, with a significant ownership stake in key operations including Grasberg, Cerro Verde, and Morenci, and reported sales of approximately 1.2 million metric tons of copper, 900,000 ounces of gold, and 70 million pounds of molybdenum in 2024. The company's robust asset base is underscored by approximately 25 years of copper reserves as of December 2024, with expectations to maintain similar copper sales volumes through 2029, positioning it well to meet ongoing demand amid potential market deficits. Additionally, Freeport's commitment to sustainable practices, including a 6% reduction in greenhouse gas emissions since 2018 and plans for renewable energy initiatives, enhances its operational efficiency and aligns with rising investor preferences for environmental stewardship.
Bears say
Freeport-McMoRan is facing a negative outlook primarily due to a projected decline in gold production from its Grasberg operations, with expected volumes decreasing to approximately 650,000 ounces by 2029. The company's valuation metrics reflect a 3% drop in its net asset value estimate, indicating challenges in sustaining historical production levels and profitability. Additionally, while Freeport trades below its historical EV/EBITDA multiple, it is still priced higher than its North American copper peers, which may raise concerns about its competitiveness in the market.
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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