Freeport-McMoRan, Inc. (FCX)

As of July 2025, FCX's stock has been weak, down approximately 11% over the past year, despite recent rallies in copper and gold prices. A fire at a new project in Indonesia impacted the stock, though the Indonesian government granted Freeport a 6-month permit to export copper concentrate while the new smelter is being repaired. The market has seemingly overlooked the rally in gold prices above $3000/oz. In April 2025, Freeport declared quarterly cash dividends of $0.15 per share, payable on August 1, 2025.

Demand for Freeport-McMoRan's primary products, copper, gold, and molybdenum, exhibits seasonality. Copper demand is stronger in the second and fourth quarters due to construction and manufacturing cycles. Gold demand is often strongest in the first three months of the year and from July to February due to jewelry restocking, wedding seasons, and holiday investment cycles. Molybdenum demand, influenced by the steel industry, usually declines during the summer months.

Freeport-McMoRan Inc. (FCX) is a leading international mining company focused on copper production, operating within the Materials sector, specifically the Metals and Mining industry. Its major products include copper, gold, molybdenum, and silver. The company's operations encompass exploration, mining, and production of mineral resources, as well as operating smelters to process copper concentrates.

Freeport-McMoRan maintains a global footprint with key mining operations in North America, including seven open-pit copper mines in Arizona and New Mexico, and two molybdenum mines in Colorado. In South America, it operates two copper mines, Cerro Verde in Peru and El Abra in Chile. The company also has operations in Indonesia, specifically the Grasberg minerals district, and operates a smelting and refinery facility in Spain (Atlantic Copper).

Freeport-McMoRan has a long-standing commitment to responsible and sustainable production practices, reflected in its environmental, social, and governance (ESG) initiatives. The company publishes annual reports on sustainability, detailing its ESG performance. FCX is a founding member of the International Council on Mining and Metals (ICMM) and has achieved the Copper Mark certification for responsible production practices at all 12 of its copper-producing sites globally. In 2022, Freeport-McMoRan was named among the top U.S. companies for ESG performance by Newsweek, ranking 419th on a list of 500. The company is also transitioning its Grasberg operations' power supply from coal to liquified natural gas and has signed an agreement for Cerro Verde to reach 100% renewable energy sources by 2026.

Freeport-McMoRan Inc. has a mixed ownership structure, with institutional investors holding a significant portion of the stock. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., State Street Corp., Fisher Asset Management, LLC, Capital Research Global Investors, Price T Rowe Associates Inc /md/, Franklin Resources Inc., and Bank Of America Corp /de/. Individual ownership accounts for a smaller percentage of the total shares.