Freeport-McMoRan Inc.

NYSE:FCX Stock Report

Market Cap: US$63.4b

Freeport-McMoRan Valuation

Is FCX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of FCX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FCX ($43.7) is trading below our estimate of fair value ($100.46)

Significantly Below Fair Value: FCX is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FCX?

Key metric: As FCX is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for FCX. This is calculated by dividing FCX's market cap by their current earnings.
What is FCX's PE Ratio?
PE Ratio31.5x
EarningsUS$2.00b
Market CapUS$63.40b

Price to Earnings Ratio vs Peers

How does FCX's PE Ratio compare to its peers?

The above table shows the PE ratio for FCX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average25.1x
SCCO Southern Copper
26.9x6.2%US$82.0b
NUE Nucor
13.8x10.1%US$34.0b
APD Air Products and Chemicals
19x1.4%US$72.9b
AEM Agnico Eagle Mines
40.9x9.9%US$41.2b
FCX Freeport-McMoRan
31.5x19.1%US$63.4b

Price-To-Earnings vs Peers: FCX is expensive based on its Price-To-Earnings Ratio (31.5x) compared to the peer average (25.1x).

Price to Earnings Ratio vs Industry

How does FCX's PE Ratio compare vs other companies in the US Metals and Mining Industry?

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
VITF.F Victoria Gold
2.1xn/aUS$23.43m
BMXI Brookmount Explorations
0.6xn/aUS$5.46m
RMRI Rocky Mountain Industrials
0.9xn/aUS$1.76m
ZCRM.F Zincore Metals
0.5xn/aUS$852.33k
FCX 31.5xIndustry Avg. 19.1xNo. of Companies5PE01020304050+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: FCX is expensive based on its Price-To-Earnings Ratio (31.5x) compared to the US Metals and Mining industry average (19.1x).

Price to Earnings Ratio vs Fair Ratio

What is FCX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FCX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio31.5x
Fair PE Ratio29.1x

Price-To-Earnings vs Fair Ratio: FCX is expensive based on its Price-To-Earnings Ratio (31.5x) compared to the estimated Fair Price-To-Earnings Ratio (29.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst FCX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$43.70
US$55.41
+26.8%
9.5%US$67.00US$43.08n/a20
Nov ’25US$45.59
US$55.41
+21.5%
9.5%US$67.00US$43.08n/a20
Oct ’25US$50.38
US$54.69
+8.6%
10.6%US$67.00US$43.08n/a19
Sep ’25US$44.28
US$54.48
+23.0%
10.0%US$63.00US$43.08n/a19
Aug ’25US$43.63
US$55.21
+26.6%
8.7%US$63.00US$44.00n/a19
Jul ’25US$48.41
US$55.21
+14.0%
9.6%US$65.00US$45.00n/a19
Jun ’25US$52.73
US$53.26
+1.0%
10.3%US$60.00US$45.00n/a20
May ’25US$49.91
US$51.70
+3.6%
10.9%US$60.00US$41.00n/a21
Apr ’25US$47.33
US$47.43
+0.2%
10.8%US$57.00US$39.00n/a21
Mar ’25US$37.93
US$46.21
+21.8%
11.0%US$57.00US$37.00n/a21
Feb ’25US$40.18
US$46.30
+15.2%
11.0%US$57.00US$37.00n/a21
Jan ’25US$42.57
US$45.49
+6.9%
11.9%US$57.00US$37.00n/a20
Dec ’24US$39.24
US$45.80
+16.7%
11.2%US$57.00US$37.00n/a20
Nov ’24US$33.71
US$46.95
+39.3%
10.5%US$57.00US$41.00US$45.5919
Oct ’24US$37.29
US$48.06
+28.9%
9.6%US$57.00US$42.00US$50.3818
Sep ’24US$41.49
US$45.73
+10.2%
15.3%US$57.00US$29.00US$44.2820
Aug ’24US$43.75
US$45.78
+4.6%
15.3%US$57.00US$29.00US$43.6320
Jul ’24US$40.00
US$45.93
+14.8%
15.0%US$57.00US$29.00US$48.4121
Jun ’24US$35.47
US$46.56
+31.3%
15.8%US$57.00US$29.00US$52.7320
May ’24US$37.63
US$45.86
+21.9%
15.8%US$60.00US$29.00US$49.9119
Apr ’24US$40.91
US$45.26
+10.6%
16.9%US$60.00US$24.00US$47.3318
Mar ’24US$43.00
US$44.87
+4.3%
17.4%US$60.00US$24.00US$37.9318
Feb ’24US$44.81
US$43.22
-3.5%
20.6%US$60.00US$24.00US$40.1818
Jan ’24US$38.00
US$37.27
-1.9%
20.2%US$55.00US$23.00US$42.5718
Dec ’23US$39.57
US$35.49
-10.3%
19.6%US$55.00US$23.00US$39.2418
Nov ’23US$32.90
US$34.81
+5.8%
20.5%US$55.00US$23.00US$33.7118

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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