Freeport-McMoRan, Inc. (FCX)

Over the past six months, Freeport-McMoRan's stock price has experienced some volatility. As of October 24, 2025, the share price was $41.37, representing an 11.47% decline from October 28, 2024, when it was $46.73, but the stock has shown recent upward movement, gaining approximately 16% in the past month. The year-to-date total return for FCX stock is 9.58%. Key events impacting the stock include Q2 2025 earnings where the company reported stronger-than-expected financial results, with EPS of $0.54 and revenue of $7.58 billion. The company reported adjusted earnings per share of $0.50 for Q3 2025, surpassing estimates, and revenues also rose by approximately 2.7% year-over-year to $6.97 billion. A mud rush event at the Grasberg Block Cave mine in Indonesia caused fatalities and interrupted operations, leading to an anticipated 4% lower copper sales and 6% lower gold sales for the third quarter compared to July estimates. The company announced a quarterly dividend of $0.15 per share, payable on November 3, 2025. Freeport's new Indonesian smelter is starting up ahead of schedule and is expected to reach full capacity by year-end. Several analysts have recently adjusted their ratings and price targets for FCX, with the stock currently having an average rating of "Moderate Buy" and an average price target of $46.92.

The demand for Freeport-McMoRan's primary products, copper, gold, and molybdenum, exhibits seasonal patterns. Gold demand is significantly influenced by cultural and festival seasons globally, such as the Indian wedding season and Diwali, Chinese New Year, and Western holiday jewelry demand. Copper prices typically perform well at the end of the year, coinciding with stock drawdowns, and are influenced by Chinese demand. Molybdenum demand is generally tied to industrial activity, particularly in steel production, which can have its own cyclical patterns.

Freeport-McMoRan Inc. (FCX) is a leading international mining company specializing in the exploration, mining, and production of essential minerals, operating within the Basic Materials sector, specifically in the Metals and Mining industry, with a primary focus on copper production. Headquartered in Phoenix, Arizona, FCX is one of the world's largest publicly traded copper producers and the largest producer of molybdenum. Its major products include copper cathode, copper concentrate, molybdenum concentrate, gold, and silver, which are crucial for various industries such as construction, electronics, and transportation, and are increasingly vital for renewable energy systems and electric vehicles.

Freeport-McMoRan has a geographically diverse portfolio of assets with significant proven and probable reserves. Major operations in North America are located in Arizona and New Mexico, with molybdenum mines in Colorado. In South America, FCX operates in Peru and Chile. The company's operations in Indonesia include the Grasberg minerals district, one of the world's largest copper and gold deposits. Additionally, Freeport-McMoRan has copper conversion facilities and rod mills in North America and operates the Atlantic Copper smelter in Spain.

Freeport-McMoRan maintains a strong reputation within the industry, recognized for its large-scale, long-life assets and geographic diversification. The company is committed to safety, environmental stewardship, and community development. Forbes has recognized Freeport-McMoRan in several lists for 2025, including "World's Best Employers," "Global 2000," "Net Zero Leaders," and "America's Best Large Employers," and "Most Trusted Companies in America". However, the company's reputation has been impacted by the mud rush event at the Grasberg Block Cave mine, which caused fatalities and interrupted operations. Historical controversies related to the Grasberg Mine, including safety, human rights, and environmental records, can influence long-term brand perception. Freeport-McMoRan gained a two-year exemption from stringent air pollution regulations, which could raise environmental concerns for some stakeholders.

Freeport-McMoRan Inc. has a mixed ownership structure comprising institutional, retail, and individual investors. Institutional investors hold a significant portion of the company's stock, with approximately 80.77% to 87% ownership. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., and Fisher Asset Management, LLC. The largest individual shareholder is James C. Flores, owning 10.89 million shares, representing 0.76% of the company. Insiders hold approximately 0.61% to 1.94% of the stock.