- Freeport-McMoRan (FCX, Financial) saw a notable pre-market dip due to falling copper prices and geopolitical concerns.
- Analysts provide an optimistic outlook with a potential 23.93% upside from current levels.
- The stock maintains an "Outperform" rating, showing promising future growth potential.
Freeport-McMoRan Inc (FCX) experienced a 5.8% decrease in pre-market trading as copper prices plummeted. This decline was primarily driven by increasing concerns about China's economic stability and the strength of the U.S. dollar. Additional factors, including the contraction in the Chinese manufacturing sector and ongoing trade tensions with the U.S., have further stressed the metals market.
Wall Street Analysts Forecast
According to 18 analysts offering one-year price targets, Freeport-McMoRan Inc (FCX, Financial) is projected to reach an average price of $46.06. The highest estimate stands at $60.04, while the lowest is $30.12. This average target indicates a potential upside of 23.93% from the current price of $37.17. For more detailed estimate data, visit the Freeport-McMoRan Inc (FCX) Forecast page.
Based on recommendations from 22 brokerage firms, Freeport-McMoRan Inc's (FCX, Financial) average brokerage recommendation is 2.1, categorizing it as "Outperform." This rating uses a scale from 1 to 5, where 1 represents a Strong Buy and 5 signifies Sell.
GuruFocus Valuation Estimates
According to GuruFocus estimates, Freeport-McMoRan Inc (FCX, Financial) has an estimated GF Value of $46.19 in one year. This suggests a potential upside of 24.27% from the current price of $37.17. The GF Value represents GuruFocus' estimation of the fair stock value, derived from historical trading multiples, past business growth, and future business performance projections. More detailed data is available on the Freeport-McMoRan Inc (FCX) Summary page.
