
Freeport-McMoRan (FCX) Stock Forecast & Price Target
Freeport-McMoRan (FCX) Analyst Ratings
Bulls say
Freeport-McMoRan holds significant assets in copper, owning stakes in prominent mines, including a 49% share in Grasberg, which contributed to its sales of approximately 1.2 million metric tons of copper and 900,000 ounces of gold in 2024. The company has strong long-term fundamentals, with 25 years of copper reserves remaining as of December 2024 and expectations for continued significant copper sales midcycle in 2029. Additionally, Freeport's commitment to reducing greenhouse gas emissions and transitioning to renewable energy sources is expected to enhance its sustainability profile and operational efficiency, positioning the company favorably in the market.
Bears say
Freeport-McMoRan has faced significant challenges, particularly regarding the Grasberg operation, which is expected to see a 35% reduction in production levels by 2026, adversely impacting its valuation metrics. Consequently, the company's net asset value (NAV) estimate is projected to fall by 3%, indicating potential revenue pressures as gold production declines from 900,000 ounces in 2024 to approximately 650,000 ounces by 2029. Additionally, the company's trading position remains below its historical EV/EBITDA multiple and yet surpasses that of North American copper peers, suggesting concerns about competitiveness amidst operational and production hurdles.
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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