Freeport-McMoRan (NYSE:FCX) Stock Falls 1.1% – Here’s What Happened

Freeport-McMoRan Inc. (NYSE:FCX)’s stock price was down 1.1% during mid-day trading on Tuesday. The stock traded as low as $71.51 and last traded at $72.4710. 7,095,568 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 16,178,953 shares. The stock had previously closed at $73.29.

Trending Headlines about Freeport-McMoRan

Here are the key news stories impacting Freeport-McMoRan this week:

• Positive Sentiment: Higher earnings forecasts: Scotiabank raised its FY2026 FCX EPS estimate to $3.35 from $3.06 and its FY2027 estimate to $2.86 from $2.62. Erste Group also lifted its FY2027 estimate to $4.32 from $4.00 and reiterated a Buy rating, reflecting expectations for stronger metal prices and cash generation. Analysts raise Freeport-McMoRan earnings estimates
• Positive Sentiment: Strong copper investment theme: BlackRock World Mining Trust listed Freeport-McMoRan as a major holding, citing copper demand from global electrification and artificial-intelligence infrastructure. The endorsement reinforces the long-term investment case for FCX as a major copper supplier. Freeport-McMoRan is a major holding in a mining trust
• Positive Sentiment: Elevated metal prices may support results: Zacks included FCX among mining companies considered likely to beat third-quarter 2026 earnings estimates, with higher copper and precious-metals prices providing a potential boost to revenue and profitability. Copper and precious-metals stocks likely to beat estimates
• Neutral Sentiment: Q3 production was broadly on plan: Freeport-McMoRan’s latest update indicated copper and gold volumes generally matched expectations. However, some Indonesian gold production was pushed into the fourth quarter, making the timing of reported results more important than an outright change in annual production expectations. Freeport-McMoRan Q3 production update
• Positive Sentiment: Potentially tighter copper supply: A halt at the Grasberg mine could constrain copper availability and support prices, which would benefit FCX if the disruption persists. The impact depends on the duration and operational recovery timeline. Grasberg halt and copper supply
• Negative Sentiment: Valuation and momentum concerns: After a substantial multiyear rally, analysts question whether FCX’s share price already discounts optimistic copper prices and future cash flow. The stock also recently declined more sharply than the broader market, indicating near-term profit-taking and sensitivity to commodity or operational news. Freeport-McMoRan valuation and cash flow analysis

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Erste Group Bank initiated coverage on Freeport-McMoRan in a research note on Thursday, August 27th. They issued a “buy” rating for the company. Citigroup increased their price target on shares of Freeport-McMoRan from $66.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, October 5th. BMO Capital Markets increased their price target on shares of Freeport-McMoRan from $78.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, September 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Freeport-McMoRan from $77.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $76.22.

Freeport-McMoRan Trading Up 0.5%

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 0.92. The stock has a market capitalization of $100.52 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 0.68 and a beta of 1.39. The business has a 50 day simple moving average of $72.09 and a 200-day simple moving average of $66.50.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.12. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%. The company had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the prior year, the company earned $0.54 earnings per share. The company’s revenue for the quarter was down 7.3% compared to the same quarter last year. As a group, equities analysts expect that Freeport-McMoRan Inc. will post 2.90 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be issued a dividend of $0.0750 per share. This represents a $0.30 annualized dividend and a yield of 0.4%. The ex-dividend date is Thursday, October 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 14.78%.

Insider Activity at Freeport-McMoRan

In other news, EVP Douglas N. Currault II sold 80,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $78.56, for a total value of $6,284,800.00. Following the completion of the transaction, the executive vice president owned 211,016 shares in the company, valued at $16,577,416.96. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ellie L. Mikes sold 4,773 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $70.00, for a total transaction of $334,110.00. Following the sale, the chief accounting officer directly owned 36,000 shares of the company’s stock, valued at $2,520,000. This represents a 11.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 110,398 shares of company stock valued at $8,387,271. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Freeport-McMoRan

A number of large investors have recently added to or reduced their stakes in FCX. State Street Corp increased its holdings in Freeport-McMoRan by 3.6% in the 2nd quarter. State Street Corp now owns 66,485,424 shares of the natural resource company’s stock worth $4,181,268,000 after purchasing an additional 2,300,416 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Freeport-McMoRan by 20.0% during the first quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company’s stock worth $2,489,069,000 after purchasing an additional 7,044,775 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Freeport-McMoRan by 13.8% in the second quarter. Wellington Management Group LLP now owns 14,918,066 shares of the natural resource company’s stock valued at $938,197,000 after buying an additional 1,810,698 shares during the period. Amundi increased its stake in shares of Freeport-McMoRan by 10.5% in the second quarter. Amundi now owns 11,819,898 shares of the natural resource company’s stock valued at $743,353,000 after buying an additional 1,125,982 shares during the period. Finally, Jupiter Topco LLC acquired a new position in shares of Freeport-McMoRan in the second quarter valued at approximately $739,890,000. Institutional investors own 80.77% of the company’s stock.

About Freeport-McMoRan

Freeport-McMoRan Inc (NYSE: FCX) is a leading international mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Copper is its principal product and is used in electrical systems, construction, transportation, renewable energy infrastructure and other industrial applications. The company also produces copper cathodes and concentrates, gold, molybdenum products and certain quantities of silver and other byproducts.

Freeport-McMoRan operates a portfolio of mining and processing assets in North America, South America and Indonesia.