Freeport-McMoRan, Inc. (FCX)

Freeport-McMoRan's stock price has been impacted by several events in the past six months. The shares saw a significant rally due to surging copper prices, supported by tightening global supply and strong demand. The company reported strong operational results in Q2 2025, exceeding guidance for copper and gold sales. A mud rush incident occurred at the Grasberg Block Cave underground mine in Indonesia, temporarily suspending mining operations. Analyst sentiment has been largely positive, with several firms raising price targets for FCX. Insider selling activity was reported, and the company declared a quarterly dividend of $0.075, payable in February 2026.

Demand for Freeport-McMoRan's products is largely driven by global industrial needs and economic trends rather than distinct seasonal patterns. The company is a "price-taker," meaning its profitability is directly tied to global commodity prices. Current strong demand for copper is linked to long-term trends such as global electrification, the development of AI infrastructure, and expansions of power grids. The nature of its products as essential industrial metals suggests a more consistent demand influenced by global economic growth and technological advancements.

Freeport-McMoRan Inc. (FCX) is an American international mining company headquartered in Phoenix, Arizona, operating in the Metals and Mining industry. The company explores, mines, and processes essential metals and is the world's largest producer of molybdenum and a major global producer of copper. Its primary products include copper, gold, and molybdenum, with copper being the main revenue driver. The company also engages in smelting and refining activities, including a new copper smelter and a precious metals refinery in Indonesia that began production in 2025.

Freeport-McMoRan operates across North America, South America, Indonesia, and Europe. In North America, it operates seven open-pit copper mines in Arizona and New Mexico, as well as two molybdenum mines in Colorado, and a copper smelter in Miami, Arizona. In South America, the company manages copper operations at Cerro Verde in Peru and El Abra in Chile. In Indonesia, Freeport-McMoRan operates the Grasberg minerals district, one of the world's largest copper and gold deposits, holding a 49% interest in PT Freeport Indonesia. In Europe, Freeport-McMoRan has copper operations in Spain, including its Atlantic Copper smelter.

Freeport-McMoRan emphasizes its commitment to safety, environmental stewardship, and community development. However, the company's reputation in the past year has been affected by the mud rush incident at the Grasberg mine in September 2025, which restricted evacuation routes for seven workers. Additionally, there have been mentions of potential legal challenges stemming from alleged misleading statements, which could also affect brand perception.

Freeport-McMoRan's ownership structure is primarily institutional, with institutional investors holding a significant majority of the company's stock. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., Fisher Asset Management, LLC, State Street Corp, Capital Research Global Investors, Wellington Management Group Llp, Bank Of America Corp /de/, and Geode Capital Management, Llc. Individual ownership remains relatively low. James C. Flores is noted as a significant individual shareholder.