60/100BFreeport-McMoran stock forecast 2026–2030What is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Analysts' average 12-month price target for Freeport-McMoran is 74.00, 25.1% above the current price of 59.15. Their targets range from 47.00 to 88.00.
Of the 14 firms that rated Freeport-McMoran in the past 12 months, 10 rate it buy or strong buy, 4 hold and 0 sell or strong sell (each firm at its latest rating): a Buy consensus.
Analysts' 1-year price targets range from 47.00 to 88.00, with an average of 74.00.
| Buy | 10 | |
| Hold | 4 | |
| Sell | 0 |
12-month price target
| Highest target | 88.00 |
| Average target | 74.00 |
| Lowest target | 47.00 |
| Current price | 59.15 |
Freeport-McMoran price target historyWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Have analysts recently raised or lowered their Freeport-McMoran price target and rating?
How analysts rate Freeport-McMoran, month by monthWhat is the analyst rating? The analyst rating sums up what the analysts covering a stock recommend, from strong buy to strong sell, by the share of them rating it a buy.
10 of 14 firms rate it buy now, against 13 of 16 in December 2025.
Each month: every firm at its latest rating from the 12 months before. Strong buys count as buys, strong sells as sells.
Freeport-McMoran analyst upgrades, downgrades and price targets
The latest rating change came on 24 April 2026, when Morgan Stanley downgraded Freeport-McMoran from Overweight to Equal Weight. Its price target is 66.00, from 70.00. The most recent new target came from Scotiabank on 28 October 2026: 78.00.
| Date | Firm | Rating | Price target | Change | Price then |
|---|---|---|---|---|---|
| 28 Oct 2026 | Scotiabank | Reiterated · Sector Outperform | 71.00 → 78.00 | +9.9% | 65.64 |
| 8 Oct 2026 | UBS | Reiterated · Buy | 77.00 → 88.00 | +14.3% | 71.87 |
| 7 Oct 2026 | Morgan Stanley Carlos De Alba | Reiterated · Equal Weight | 66.00 → 75.00 | +13.6% | 71.28 |
| 6 Oct 2026 | Barclays | Reiterated · Overweight | 82.00 → 83.00 | +1.2% | 72.62 |
| 9 Sept 2026 | Bernstein | Reiterated · Market Perform | 58.50 → 47.00 | -19.7% | 76.63 |
| 27 Jul 2026 | Barclays Richard Garchitorena | Reiterated · Overweight | 80.00 → 82.00 | +2.5% | 62.62 |
| 24 Jul 2026 | RBC Capital | Reiterated · Sector Perform | 48.00 → 73.00 | +52.1% | 61.87 |
| 24 Jul 2026 | Wells Fargo Timna Tanners | Reiterated · Overweight | 77.00 → 70.00 | -9.1% | 63.53 |
| 23 Jul 2026 | BMO Capital Katja Jancic | — | 47.00 → 78.00 | +66.0% | 62.46 |
| 15 Jul 2026 | Barclays | — | 77.00 → 80.00 | +3.9% | 60.89 |
| 8 Jul 2026 | Goldman Sachs | — | 74.00 | — | 57.48 |
| 30 Jun 2026 | UBS | Reiterated · Buy | 75.00 → 77.00 | +2.7% | 62.49 |
| 10 Jun 2026 | Bernstein | Reiterated · Market Perform | 54.00 → 58.50 | +8.3% | 64.25 |
| 21 May 2026 | Barclays | — | 77.00 | — | 62.31 |
| 21 May 2026 | UBS Daniel Major | Reiterated · Buy | 74.00 → 75.00 | +1.4% | 61.00 |
| 24 Apr 2026 | UBS | — | 66.00 → 74.00 | +12.1% | 61.83 |
| 24 Apr 2026 | Morgan Stanley | Downgraded · Overweight → Equal Weight | 70.00 → 66.00 | -5.7% | 61.48 |
| 23 Apr 2026 | Jefferies | — | 68.00 → 75.00 | +10.3% | 61.48 |
| 15 Apr 2026 | Deutsche Bank | — | 72.00 | — | 68.73 |
| 15 Apr 2026 | Wells Fargo | Reiterated · Overweight | 64.00 → 77.00 | +20.3% | 68.31 |
| 14 Apr 2026 | Scotiabank | Reiterated · Sector Outperform | 72.00 → 71.00 | -1.4% | 68.09 |
| 27 Mar 2026 | UBS | Reiterated · Buy | 70.00 → 66.00 | -5.7% | 56.24 |
| 20 Feb 2026 | Scotiabank | Reiterated · Sector Outperform | 70.00 → 72.00 | +2.9% | 62.88 |
| 20 Feb 2026 | Freedom Broker | Upgraded · Hold → Buy | — | — | — |
| 13 Feb 2026 | Argus Research | Upgraded · Hold → Buy | — | — | — |
| 27 Jan 2026 | Morgan Stanley | — | 53.00 → 70.00 | +32.1% | 61.17 |
| 26 Jan 2026 | Scotiabank | Reiterated · Sector Outperform | 47.00 → 70.00 | +48.9% | 63.06 |
| 23 Jan 2026 | UBS Daniel Major | Reiterated · Buy | 60.00 → 70.00 | +16.7% | 60.29 |
| 23 Jan 2026 | Bernstein | Downgraded · Outperform → Market Perform | 54.00 | — | 58.90 |
| 13 Jan 2026 | Wells Fargo | Reiterated · Overweight | 55.00 → 64.00 | +16.4% | 58.70 |
| 5 Jan 2026 | Jefferies Christopher LaFemina | — | 46.00 → 68.00 | +47.8% | 54.41 |
| 23 Dec 2025 | Wells Fargo | Reiterated · Overweight | 47.00 → 55.00 | +17.0% | 50.64 |
| 15 Dec 2025 | Morgan Stanley Carlos De Alba | — | 46.00 → 53.00 | +15.2% | 47.55 |
| 12 Dec 2025 | UBS | Reiterated · Buy | 48.00 → 60.00 | +25.0% | 47.51 |
| 19 Nov 2025 | BMO Capital Katja Jancic | Reiterated · Outperform | 48.00 → 47.00 | -2.1% | 40.00 |
| 19 Nov 2025 | Scotiabank Orest Wowkodaw | Upgraded · Sector Perform → Sector Outperform | 51.00 → 47.00 | -7.8% | 40.00 |
Freeport-McMoran EPS and revenue estimatesWhat are estimate revisions? Estimate revisions are the changes analysts make to their EPS and revenue forecasts for the years ahead. They show whether expectations are rising or falling.
Analysts expect Freeport-McMoran's EPS to grow 47.7% a year until 2028. Over the last 5 years it grew 30.0% a year, and over the last 3 years it fell 14.0%.
Analysts expect Freeport-McMoran's revenue to grow 14.7% a year until 2028. Over the last 5 years it grew 13.2% a year, and over the last 3 years 3.3%.
Revenue
EPS
Does Freeport-McMoran beat earnings estimates?What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
On average, analysts' EPS estimate was 19.6% off the result, either way, and their revenue estimate 5.6%, over the last 12 quarters.
- EPS beats
- 88 / 135
- Revenue beats
- 76 / 118
- Average EPS surprise, last 12What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
- +17.3%
- Since
- January 1993
| Quarter | Report date | EPS estimate | Reported EPS | Surprise | Revenue estimate | Reported revenue | Surprise |
|---|---|---|---|---|---|---|---|
| Q3 FY2026 | 27 Oct 2026 | 0.82 | 0.88 | +8.0% | 7.36B | 7.55B | +2.5% |
| Q2 FY2026 | 22 Jul 2026 | 0.60 | 0.68 | +13.3% | 6.62B | 7.03B | +6.2% |
| Q1 FY2026 | 23 Apr 2026 | 0.47 | 0.57 | +22.2% | 5.73B | 6.23B | +8.8% |
| Q4 FY2025 | 22 Jan 2026 | 0.29 | 0.47 | +64.8% | 5.29B | 5.63B | +6.4% |
| Q3 FY2025 | 23 Oct 2025 | 0.42 | 0.50 | +18.7% | 6.71B | 6.97B | +3.9% |
| Q2 FY2025 | 23 Jul 2025 | 0.45 | 0.54 | +20.1% | 7.19B | 7.58B | +5.5% |
| Q1 FY2025 | 24 Apr 2025 | 0.24 | 0.24 | +1.0% | 5.39B | 5.73B | +6.3% |
| Q4 FY2024 | 23 Jan 2025 | 0.36 | 0.31 | -13.9% | 5.84B | 5.72B | -2.1% |
| Q3 FY2024 | 22 Oct 2024 | 0.36 | 0.38 | +6.4% | 6.45B | 6.79B | +5.3% |
| Q2 FY2024 | 23 Jul 2024 | 0.38 | 0.46 | +21.1% | 6.00B | 6.62B | +10.4% |
| Q1 FY2024 | 23 Apr 2024 | 0.26 | 0.32 | +23.1% | 5.70B | 6.21B | +8.9% |
| Q4 FY2023 | 24 Jan 2024 | 0.22 | 0.27 | +22.7% | 5.87B | 5.80B | -1.2% |
Freeport-McMoran stock price 2026–2030: scenariosHow are the stock price scenarios calculated? Bear, base and bull prices for the years ahead: the analysts' EPS estimates times the lowest, average and highest P/E of the stock today and at its last five year ends, or of its peers.
If Freeport-McMoran's earnings grow at the 40.9% a year analysts expect to FY2028, then 15.0% a year, it would earn about 6.47 a share in FY2030. At the P/E it has traded at over the last five years (14.2 to 33.3) that is 92.20 to 215.29 a share, or 162.32 at its average P/E of 25.1. This is arithmetic on the analysts' estimates, not a prediction.
| Fiscal year | EPS | Bear | Base | Bull |
|---|---|---|---|---|
| FY2026 | 3.13 | 44.59 | 78.50 | 104.12 |
| FY2027 | 4.32 | 61.59 | 108.44 | 143.83 |
| FY2028 | 4.89 | 69.71 | 122.74 | 162.79 |
| FY2029 (extrapolated) | 5.63 | 80.17 | 141.15 | 187.21 |
| FY2030 (extrapolated) | 6.47 | 92.20 | 162.32 | 215.29 |
Each year's EPS is the analysts' consensus to FY2028; the years after grow 15.0% a year (the analysts' growth, at most 15%). Bear, base and bull apply the lowest, average and highest P/E of today and the last five fiscal year ends, leaving out any above 60, the mark of a year of collapsed earnings (14.2, 25.1, 33.3).
Is Freeport-McMoran stock undervalued or overvalued?How does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
Freeport-McMoran's P/E of 24.9 is below the middle of its 5-year range (7.2 to 47.7, median 28.5). Analysts do not expect slower growth than in recent years, so it is cheaper than its usual level. Buyers pay less for each point of growth than usual: a PEG of 0.5 on expected growth against 1.0 on its median P/E and past five years' growth. Growing 47.7% a year, Freeport-McMoran earns a P/E of 25.0 at a PEG of 1 (at most 25): × the next twelve months' EPS of 4.17, a fair value of 104.19; the price, 59.15, is 43.2% below it. Its forward P/E, on the consensus for FY2026, is 18.9.
Fair value on growth is a P/E equal to the EPS growth analysts expect a year (a PEG of 1, at most 25) times the earnings per share of the next twelve months; the ends of the bar are a PEG of 0.75 and 1.25 (a P/E of 18.8 and 31.3). The price against its P/E range
- Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 24.85
- Five-year median P/EWhat is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 28.46
- Five-year P/E range
- 7.2 – 47.7
- Forward P/E (FY2026)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.
- 18.89
- PEG ratioWhat is the PEG ratio? The PEG ratio divides the P/E by the yearly earnings growth analysts expect, to show how much you pay for each point of growth.
- 0.61
- To the average targetWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
- +25.1%
Most undervalued US stocksHow does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
| Stock | Price | Fair value | Upside |
|---|---|---|---|
| 235.690 | 464.49205Price 235.69627 | +97.1% | |
| 28.860 | 56.2634Price 28.8696 | +94.9% | |
| 199.110 | 384.58163Price 199.112,644 | +93.1% | |
| 123.990 | 237.24178Price 123.99297 | +91.3% | |
| 157.820 | 297.58169Price 157.82471 | +88.6% | |
| 162.670 | 305.52160Price 162.67396 | +87.8% | |
| 216.610 | 405.38304Price 216.61507 | +87.1% |
Furthest below the fair value on each stock's page, updated every day.