Freeport-McMoRan Faces Class Action for Securities Fraud After Fatal Incident
Written by Emily J. Thompson, Senior Investment Analyst
Source: Globenewswire
Updated: 58 minutes ago0mins
- Lawsuit Background: Bleichmar Fonti & Auld LLP has filed a class action against Freeport-McMoRan and its executives for securities fraud following a safety incident, which has led to significant stock drops, reflecting serious investor concerns about corporate governance.
- Stock Volatility: On September 9, 2025, Freeport's stock fell from $46.66 to $43.89, a decline of over 5.9%, after a landslide at the Grasberg mine, indicating a loss of market confidence in the company's safety management capabilities.
- Subsequent Impact: On September 24, following the tragic news of two fatalities and operational suspensions, Freeport projected a 4% and 6% decrease in copper and gold sales, respectively, causing the stock to plummet to $37.67, a nearly 17% drop, exacerbating investor anxiety.
- Strained Government Relations: On September 25, reports indicated that the production halt could lead to increased demands for control from the Indonesian government, resulting in a further 6% drop in stock price, highlighting potential risks to the company's operations and profitability in the future.
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Analyst Views on FCX
Wall Street analysts forecast FCX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FCX is 48.35 USD with a low forecast of 44.00 USD and a high forecast of 58.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
17 Analyst Rating
15 Buy
2 Hold
0 Sell
Strong Buy
Current: 44.530
Low
44.00
Averages
48.35
High
58.00
Current: 44.530
Low
44.00
Averages
48.35
High
58.00
JPMorgan
NULL -> Overweight
maintain
$50 -> $58
2025-12-05
New
Reason
JPMorgan
Price Target
$50 -> $58
2025-12-05
New
maintain
NULL -> Overweight
Reason
JPMorgan raised the firm's price target on Freeport-McMoRan to $58 from $50 and keeps an Overweight rating on the shares. The firm adjusted price targets in the North America metals and mining group as part of its 2026 outlook.
Deutsche Bank
Buy
maintain
$45 -> $47
2025-11-26
Reason
Deutsche Bank
Price Target
$45 -> $47
2025-11-26
maintain
Buy
Reason
Deutsche Bank raised the firm's price target on Freeport-McMoRan to $47 from $45 and keeps a Buy rating on the shares as part of a 2026 outlook for the copper sector. Severe supply disruptions have pushed copper prices to near record levels, the analyst tells investors in a research note.
BofA
Buy
maintain
$50 -> $58
2025-11-24
Reason
BofA
Price Target
$50 -> $58
2025-11-24
maintain
Buy
Reason
BofA raised the firm's price target on Freeport-McMoRan to $58 from $50 and keeps a Buy rating on the shares. The firm is refreshing its price forecasts for North American Metals & Mining stocks under its coverage, the analyst tells investors. The firm sees the macro backdrop as challenging due to China's slowing commodity demand but notes this may be offset by a rebound in demand in U.S. and Europe.
BMO Capital
Outperform
to
NULL
downgrade
$48 -> $47
2025-11-19
Reason
BMO Capital
Price Target
$48 -> $47
2025-11-19
downgrade
Outperform
to
NULL
Reason
BMO Capital lowered the firm's price target on Freeport-McMoRan to $47 from $48 but keeps an Outperform rating on the shares. Following the Grasberg update, the firm is reducing its estimates to reflect the updated mine and production plans, the analyst tells investors in a research note. BMO adds however that while the updated production outlook was a bit lower-than-expected, it was explainable, and while some restart risks remain, execution should be key.
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About FCX
Freeport-McMoRan Inc. is an international metals company focused on copper. The Company operates geographically diverse assets with significant proven and probable mineral reserves of copper, gold and molybdenum. The Company's segments include the Morenci and Cerro Verde copper mines, the Indonesia operations (including the Grasberg minerals district and PT-FI’s downstream processing facilities), the Rod & Refining operations and Atlantic Copper Smelting & Refining. Its operations include North America, South America and Indonesia. In North America, it manages seven copper operations: Morenci, Bagdad, Safford (including Lone Star), Sierrita and Miami in Arizona, and Chino and Tyrone in New Mexico, and two molybdenum mines: Henderson and Climax in Colorado. It also operates a copper smelter in Miami, Arizona. In South America, it manages two copper operations: Cerro Verde in Peru and El Abra in Chile. In addition to copper, the Grasberg minerals district also produces gold and silver.
About the author
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Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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