Freeport-McMoRan Inc. (FCX, Financial) is strategically assessing several substantial investment opportunities globally. The company's initiatives include a prospective expenditure of under $1 billion in leach technology advancements. Furthermore, Freeport-McMoRan is in the process of crafting a detailed estimate for the expansion efforts at Lone Star, indicating ongoing developmental evaluations.
In addition to these projects, the corporation is diligently reviewing a significant $7.5 billion investment proposal aimed at expanding its El Abra mining operations. This project signifies a major focus in the company's expansive strategy to bolster its production capabilities.
Moreover, the company reports that around $4 billion remains earmarked for the further development of the Kucing Liar project. This ongoing financial commitment underscores Freeport-McMoRan’s dedication to advancing its resource extraction capabilities on a global scale.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for Freeport-McMoRan Inc (FCX, Financial) is $45.99 with a high estimate of $60.04 and a low estimate of $30.12. The average target implies an upside of 25.73% from the current price of $36.58. More detailed estimate data can be found on the Freeport-McMoRan Inc (FCX) Forecast page.
Based on the consensus recommendation from 22 brokerage firms, Freeport-McMoRan Inc's (FCX, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Freeport-McMoRan Inc (FCX, Financial) in one year is $47.28, suggesting a upside of 29.25% from the current price of $36.58. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Freeport-McMoRan Inc (FCX) Summary page.
