Scotiabank Reiterates Buy Rating on Freeport-McMoRan
Scotiabank maintains its 'buy' rating on Freeport-McMoRan with a $77 price target.
Key Points
- Scotiabank reiterated its 'buy' rating for Freeport-McMoRan on June 15, 2026, setting a price target of $77.
- Freeport-McMoRan's stock is trading at $68.41, with a market cap of $98.34 billion and a P/E ratio of 36.20.
- Insider buying occurred on June 1, 2026, with several insiders purchasing 2,800 shares each.
Scotiabank has reiterated its 'buy' rating on Freeport-McMoRan Inc. (NYSE: FCX) with a price target of $77. This reaffirmation by analyst Orest Wowkodaw was made on June 15, 2026. The stock is currently trading at $68.41, reflecting the firm's confidence in its potential upside.
Freeport-McMoRan Stock Snapshot
Shares of NYSE:FCX traded near $68.41. Freeport-McMoRan has a market cap of approximately $98.34 billion. It boasts a P/E ratio of 36.20 and a forward P/E of 17.70. The stock's beta is 1.36, indicating moderate volatility. Over the past 52 weeks, the stock has ranged from $35.15 to $72.09. Its 50-day moving average is $64.02, while the 200-day moving average stands at $53.83. The company maintains a solid current ratio of 2.39 and a quick ratio of 0.86, with a debt-to-equity ratio of 33.01.
Recent Earnings
In its recent earnings report, Freeport-McMoRan posted revenue of $26.42 billion, reflecting a growth of 8.8%. The company reported an EPS of $1.89, with a net margin of 10.34% and a return on equity of 15.63%. Investors can look forward to the next earnings announcement scheduled for July 22, 2026.
Dividend
Freeport-McMoRan offers an annual dividend rate of $0.60, yielding 0.88%. The dividend payout ratio is 31.75%, indicating a balanced approach to returning value to shareholders.
Insider Buying and Selling at Freeport-McMoRan Inc.
There has been notable insider buying at Freeport-McMoRan. On June 1, 2026, several insiders, including Frances Townsend, Ryan Michael Lance, Dustan McCoy, David Abney, Hugh Grant, and Sara Grootwassink Lewis, each purchased 2,800 shares. These transactions were not conducted under a pre-planned trading program.
Analysts Set New Price Targets
On June 15, 2026, Scotiabank maintained its 'buy' rating with a $77 price target. Other analysts have also weighed in recently. Bernstein maintained a 'hold' rating with a $58.5 target on June 10, 2026. Meanwhile, Barclays initiated coverage with a 'buy' rating and a $77 target on May 22, 2026. UBS maintained its 'buy' rating with a $75 target on May 21, 2026. The consensus recommendation remains a 'buy', with an average target price of $68.86 across 22 analyst opinions.
About Freeport-McMoRan
Freeport-McMoRan Inc. is a leading mining company headquartered in Phoenix, Arizona. It specializes in the exploration and production of copper, gold, molybdenum, and other minerals. The company's operations span North America, South America, and Indonesia, with significant assets like the Grasberg minerals district in Indonesia and several mines across the United States and Peru. Led by CEO Kathleen Lynne Quirk, Freeport-McMoRan employs approximately 29,000 people.
Bottom Line
Scotiabank's reaffirmation of a 'buy' rating for Freeport-McMoRan highlights continued confidence in the company's growth prospects. As a major player in the copper industry, Freeport-McMoRan's performance is closely watched by investors. It's important to remember that analyst ratings are only one factor to consider, and past filings like 13F reports are historical and may not reflect current positions.
See Also
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