Freeport-McMoRan Faces Class Action Over Safety Issues at Grasberg Mine
Written by Emily J. Thompson, Senior Investment Analyst
Source: PRnewswire
Updated: 1 day ago0mins
- Safety Concerns Exposed: Freeport-McMoRan's inadequate safety measures at the Grasberg mine in Indonesia led to seven workers being trapped on September 9, 2025, raising serious questions about the company's safety management and potentially increasing regulatory and reputational risks.
- Stock Price Plunge: Following the incident, Freeport's stock fell by 5.9% to $43.89 per share on September 9, 2025, and dropped another 17% to $37.67 on September 24 after two workers were confirmed dead, resulting in significant losses for investors.
- Legal Action Initiated: Faruqi & Faruqi LLP has filed a class action lawsuit against Freeport, urging investors to apply for lead plaintiff status by January 12, 2026, indicating that legal risks could have substantial implications for the company's future operations.
- Strained Government Relations: The halt in production is likely to intensify demands from the Indonesian government for greater control over Freeport, which analysts suggest could further impact the company's local operations and future profitability.
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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: 44.610
Low
44.00
Averages
48.35
High
58.00
Current: 44.610
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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