FCX

In the past six months (April to October 2026), Freeport-McMoRan's stock was impacted by several key events. The company benefited from significant gains in key commodity prices, with benchmark copper reaching a record high due to global supply tightness and strong secular demand, and gold prices rallying due to concerns over U.S. national debt and central bank purchases. Freeport-McMoRan reported better-than-expected fiscal Q2 2026 results, surpassing Wall Street estimates for both EPS and revenue, and provided a positive outlook with higher projected second-half copper sales and lower unit net cash cost estimates. The company made substantial progress in restoring full production at its Grasberg mine in Indonesia, with Q3 mill throughput reaching approximately two-thirds of normalized rates after a 2025 mining accident. Freeport's Q3 2026 copper and gold production was broadly in line with expectations, though gold sales were deferred to Q4, and U.S. operations experienced lower rates due to localized weather events. Analysts maintained a 'Moderate Buy' rating on FCX, with an average 12-month price target of $76.22, and several firms raised their targets. Freeport declared quarterly cash dividends on common stock, with the latest dividend per share being $0.08.