Freeport-McMoRan stock price target raised to $57 from $48 at CFRA
Investing.com
Published Jul 07, 2025 11:49AM ET
Investing.com - CFRA raised its price target on Freeport-McMoRan (NYSE:FCX) to $57.00 from $48.00 on Monday, while maintaining a Strong Buy rating on the copper mining giant. The $64.5 billion market cap company has seen 4 analysts revise their earnings estimates upward for the upcoming period, according to InvestingPro data.
The research firm increased its 2025 adjusted EPS estimate by $0.25 to $1.81 and its 2026 EPS forecast by $0.21 to $2.30, citing Freeport-McMoRan's position at the center of the global energy transition and infrastructure development.
CFRA noted that the company is well-positioned to benefit from structural copper deficits, with electric vehicles requiring three to four times more copper than traditional cars and renewable energy infrastructure demanding large quantities of the metal.
The firm highlighted additional copper demand coming from the AI boom, which is driving growth in copper-intensive data centers, creating a compelling long-term investment case for the mining company.
CFRA also pointed to Freeport-McMoRan's strong balance sheet, which allows management to return substantial cash to shareholders while simultaneously investing in high-return expansion projects. For deeper insights into FCX's financial health and growth prospects, access the comprehensive Pro Research Report, available exclusively on InvestingPro .
In other recent news, Freeport-McMoRan reported its first-quarter 2025 earnings, surpassing analyst expectations with an earnings per share (EPS) of $0.24, above the forecast of $0.23. The company also exceeded revenue projections, reporting $5.73 billion compared to the anticipated $5.67 billion. Additionally, shareholders approved a new 2025 Stock Incentive Plan, replacing the 2016 plan, which authorizes the issuance of up to 43,820,000 shares of common stock. In another development, Raymond James raised its price target for Freeport-McMoRan to $53 from $52, maintaining an Outperform rating, citing the company's strong portfolio of copper and gold assets. However, the firm noted the higher jurisdictional risk due to the location of the Grasberg asset in Indonesia. Meanwhile, CEO Kathleen Quirk expressed concerns about potential U.S. tariffs on copper imports, warning they could harm the industry despite currently benefiting from higher domestic prices. The company continues to innovate with new leaching techniques, aiming to expand its copper production capabilities.
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