Is Wall Street Bullish or Bearish on Freeport-McMoRan Stock?

Company Overview - Freeport-McMoRan Inc. (FCX) has a market cap of $60.6 billion and is a leading international mining company focused on copper, gold, molybdenum, and silver production with major operations in North America, South America, and Indonesia, including the Grasberg mine, which holds the world's largest copper and gold reserves [1] Stock Performance - Over the past 52 weeks, FCX shares have declined nearly 9%, underperforming the S&P 500 Index, which gained 18.1%, while year-to-date, FCX shares increased by 9.9%, compared to the S&P 500's 17.2% return [2] - FCX shares have also lagged behind the Materials Select Sector SPDR Fund (XLB), which saw an 8.3% dip over the same period [3] Recent Financial Results - On October 23, FCX shares recovered 1.1% after reporting Q3 2025 adjusted EPS of $0.50 and revenue of $6.97 billion, driven by higher average realized copper prices of $4.68 per pound, up about 9% year-over-year, despite lower production due to a temporary suspension at the Grasberg mine [4] Earnings Expectations - For the fiscal year ending December 2025, analysts expect FCX's adjusted EPS to remain unchanged year-over-year at $1.48, with a strong earnings surprise history, having met or exceeded consensus estimates in the last four quarters [5] Analyst Ratings and Price Targets - Among 20 analysts covering FCX, the consensus rating is a "Moderate Buy," consisting of 12 "Strong Buy" ratings, three "Moderate Buys," and five "Holds" [5] - Scotiabank analyst Orest Wowkodaw raised FCX's price target to $51 while maintaining a "Sector Perform" rating, with a mean price target of $48.47 representing a 14.9% premium to current price levels, and a Street-high price target of $55 suggesting a 30.4% potential upside [6]