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FCX

Freeport-McMoran Copper & Gold Inc

NYSE: FCX · BASIC MATERIALS · COPPER

$56.93
-2.20% today

Updated 2026-04-29

Market cap
$87.64B
P/E ratio
32.30
P/S ratio
3.32x
EPS (TTM)
$1.89
Dividend yield
0.98%
52W range
$34 – $71
Volume
17.7M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Freeport-McMoran Copper & Gold Inc (FCX) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$56.93
Consensus
$57,500.00
+100901.23%
2030 Target
—
—
DCF
$47.93
-36.57% MoS
17 analysts:
6 Buy2 Hold1 Sell

Management guidance

No specific CEO revenue targets disclosed in available documents. Management has emphasized confidence in copper demand despite geopolitical challenges (Iran conflict), positioning the company to benefit from structural deficits in global copper markets and anticipated macro tailwinds. Capital investment plans include $7.5B boost to Chile's El Abra copper output, indicating confidence in long-term production growth.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$656.77
—
Base case (2030)
$392.83
—
Bear case (2030)
$263.93
—

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)
Revenue$22.7B$25.5B$25.7B$29.4B$34.8B$40.8B$47.2B
Revenue growth—12.1%1.1%13.4%18.5%17.1%15.7%
EPS$1.53$1.47$1.75$2.95$3.86$4.75$5.48
P/S ratio———12.0x12.0x12.0x12.0x
Implied price———$245.52$294.62$343.73$392.83

Catalysts & risks

Growth catalysts
+ Copper supply deficit structural mismatch vs 50% demand surge by 2040 from AI/electrification
+ $7.5B El Abra expansion increasing Chilean production capacity significantly
+ Performance-based dividend framework improvement to incentivize shareholder returns
+ Goldman Sachs Buy initiation at $70 target (14% upside) citing copper structural thesis
+ Ambler Mining District Arctic/Bornite projects advancing with $85M budget and federal support
+ Copper price near record levels despite inventory concerns due to supply constraints
Key risks
- Geopolitical volatility (Iran conflict causing 20% copper price pullback recently)
- China demand slowdown concerns per Jim Cramer warnings and slower growth trajectory
- Ore grade decline across industry pressuring unit costs (FCX saw Q4 2025 cash cost surge)
- Indonesian policy risk affecting production from key assets
- Copper price cyclicality and macro sensitivity (current P/E 40.3x indicates valuation risk)
- Board transition with Robert Dudley not seeking re-election signals potential strategy shifts

Methodology

Freeport-McMoran Copper & Gold Inc's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 17 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 6, 2026.