Freeport-McMoRan Inc. (FCX) Stock Price & Analysis
Freeport-McMoRan Inc. (FCX) closed at USD 64.59 on Thursday, October 22, 2026, down 6.26% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 68.9; the Oct 22, 2026 session ranged USD 64.16–66.6 on volume of 13,545,674 shares. Market capitalization is $92.75B, with a 52-week range of USD 38.54–80.24 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:57 UTC.
Also available as compact Markdown for AI agents: nexqual.com/FCX.md
Key facts (FCX)
- Last four reported quarters (through Jun 30, 2026): revenue $25.9B, net income $4.18B (16.2% margin) (SEC filings).
- Valuation: P/E 22.2x (avg 15.5x at the last 3 fiscal year-ends), EV/EBITDA 10.8x, net debt $5.31B.
- 1 of 80 tracked superinvestors hold FCX (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 5 Form 4 filings, $8.4M; 5 not under a Rule 10b5-1 plan ($8.4M); 1 by opportunistic insiders (1 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (23 analysts), mean target USD 79.2 (range 32–92).
- Total return with dividends: 1Y +58.1% vs S&P 500 +14.9%; 5Y +83.7% vs S&P 500 +80.3%.
- Next earnings: 2026-10-27, EPS estimate USD 0.83, revenue estimate $7.40B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (FCX)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $22.8B | $23.3B | $22.9B | $25.5B | $25.9B | $25.9B |
| Gross profit | $8.81B | $8.18B | $7.16B | $7.66B | $7.30B | — |
| Operating income | $8.37B | $7.04B | $6.22B | $6.86B | $6.52B | $6.92B |
| Net income | $5.37B | $4.48B | $3.75B | $4.40B | $4.15B | $4.18B |
| EPS (diluted) | $2.90 | — | — | — | — | — |
| Free cash flow | $5.60B | $1.67B | $455M | $2.35B | $1.12B | — |
| Gross margin | 38.6% | 35.2% | 31.3% | 30.1% | 28.2% | — |
| Operating margin | 36.6% | 30.2% | 27.2% | 27.0% | 25.2% | 26.7% |
| Net margin | 23.5% | 19.2% | 16.4% | 17.3% | 16.0% | 16.2% |
| Revenue growth | +60.9% | +1.9% | -1.8% | +11.4% | +1.8% | — |
| Cash + short-term investments | $8.07B | $8.15B | $4.76B | $3.92B | $3.82B | — |
| Total debt | $9.45B | $10.6B | $9.42B | $8.95B | $9.38B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (FCX)
P/E 22.2x · P/S 3.6x · EV/EBITDA 10.8x · EV/Sales 3.8x · P/B 4.6x · Earnings yield 4.51% · Dividend yield (paid, TTM) 0.93% · Buyback yield (TTM) 0.22% · Net debt $5.31B · EV $98.1B
P/E at fiscal year-ends: Dec 2025 17.7x, Dec 2024 12.5x, Dec 2023 16.4x.
Superinvestors (SEC 13F-HR, Q2 2026) (FCX)
1 of 80 tracked investors hold FCX. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Howard Marks | Oaktree Capital | 2.00% | $75.5M | Reduced -1.6% |
Insider sales (SEC Form 4, open-market, last ~7 months) (FCX)
0 of 5 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-27 | Kennard Lydia H | Director | 3,798 | $300K | 3% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-25 | Currault Douglas N. Ii | EVP & General Counsel | 80,000 | $6.3M | 27.5% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-08-05 | Mikes Ellie L. | Chief Accounting Officer | 4,773 | $334K | 11.7% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-05 | Higgins Stephen T. | EVP & CAO | 14,277 | $992K | 11.2% | No | Too little history (no open-market trades in 2023) |
| 2026-07-30 | Higgins Stephen T. | EVP & CAO | 7,550 | $476K | 5.6% | No | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (FCX)
Consensus Buy (mean 2.00 on a 1–5 scale), 23 analysts; mean target USD 79.2 (low 32, high 92).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-19 | Barclays | Target raised | Overweight | $83 → $84 |
| 2026-10-08 | UBS | Target raised | Buy | $77 → $78 |
| 2026-10-07 | JP Morgan | Target raised | Overweight | $77 → $92 |
| 2026-10-07 | Morgan Stanley | Target raised | Equal-Weight | $70 → $75 |
| 2026-10-06 | Barclays | Target raised | Overweight | $82 → $83 |
| 2026-10-06 | Wells Fargo | Target raised | Overweight | $70 → $87 |
| 2026-10-05 | Citigroup | Target raised | Buy | $66 → $84 |
| 2026-09-16 | RBC Capital | Target raised | Sector Perform | $73 → $85 |
| 2026-09-09 | Bernstein | Target lowered | Market Perform | $50 → $47 |
| 2026-07-27 | Barclays | Target raised | Overweight | $80 → $82 |
| 2026-07-24 | Wells Fargo | Target raised | Overweight | $68 → $70 |
| 2026-07-24 | RBC Capital | Target raised | Sector Perform | $70 → $73 |
Total return (dividends reinvested) (FCX)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +58.1% | +83.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +58.4% | +12.9% |
| Volatility (annualized) | 47.9% | 45.1% |
| Max drawdown | -24.3% (Feb 2026→Mar 2026) | -49.8% (Mar 2022→Jul 2022) |
FCX revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Rod and Refining | $2.24B | 31.9% | +31.6% |
| Cerro Verde | $1.49B | 21.2% | +44.5% |
| Grasberg | $1.48B | 21.1% | -56.6% |
| Atlantic Copper Smelting and Refining | $1.03B | 14.7% | +25.9% |
| Morenci | $756.0M | 10.8% | +21.5% |
| Total revenue | $7.03B | 100% | — |
FCX revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Copper Cathode | $2.65B | 37.7% | +21.8% |
| Refined Copper Products | $1.53B | 21.8% | +58.2% |
| Copper In Concentrates | $976.0M | 13.9% | -51.8% |
| Molybdenum | $728.0M | 10.4% | +52.0% |
| Gold | $640.0M | 9.1% | -65.1% |
| Silver & Other | $297.0M | 4.2% | +71.7% |
| Purchased Copper | $164.0M | 2.3% | -5.2% |
| Total revenue | $7.03B | 100% | — |
FCX revenue by region (quarter ended Sep 30, 2025)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| South America | $1.18B | 17.0% | +5.3% |
| North America | $58.0M | 0.8% | +11.5% |
| Total revenue | $6.97B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
FCX suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Rio Tinto (RIO) | “Pursuant to the divestment agreement and related documents, PT Mineral Industri Indonesia (MIND ID), an Indonesia state-owned enterprise, acquired all of Rio Tinto plc's (Rio Tinto) interests associated with its joint venture with PTFI (the former Rio Tinto Joint Venture) and 100% of FCX's interests in PT Indonesia Papua Metal Dan Mineral (PTI).” |
Quoted from the company's 10-K filed Feb 13, 2026.
Companies that name FCX in their SEC reports
| Relationship to FCX | Company | Filing | Sentence |
|---|---|---|---|
| partner | Sable Offshore Corp. (SOC) | 10-K Feb 27, 2026 | “Prior to Sable Permian Resources, LLC, from June 2013 to April 2017, Mr. Duenner was Vice President—International & New Ventures for Freeport-McMoRan Oil & Gas ("FM O&G"), a wholly owned subsidiary of Freeport-McMoRan Inc., where he had responsibility for the company's international commercial activities as well as new ventures and partnerships.” |
FCX customer concentration
In the period ended Dec 31, 2024, a single direct customer accounted for 17% of revenue, per the company's 10-K filed Feb 13, 2026. The company does not name it.
FCX company outlook (results filed Oct 2, 2026)
- “CONSOLIDATED RESULTS Third-quarter 2026 consolidated copper production of approximately 830 million pounds was in line with expectations, with slightly better results from international operations offsetting slightly lower production in the U.S.”
- “Third-quarter 2026 consolidated gold production of approximately 230 thousand ounces approximated expectations.”
- “FCX expects its consolidated copper sales for third-quarter 2026 to approximate its July 2026 estimate of 750 million pounds.”
- “FCX expects consolidated gold sales for third-quarter 2026 to approximate 100 thousand ounces, which is below its July 2026 estimate reflecting the impact of deferred gold sales.”
Quoted word-for-word from the SEC 8-K results press release.
FCX analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.83 | $0.78 | +6.6% | $7.40B | 13 |
| Next quarter (ends Dec 2026) | $1.14 | $0.87 | +30.6% | $9.27B | 10 |
| Current fiscal year (ends Dec 2026) | $3.20 | $3.10 | +3.4% | $30.14B | 14 |
| Next fiscal year (ends Dec 2027) | $4.36 | $4.03 | +8.0% | $36.53B | 17 |
FCX options: expected move
Options price a move of about ±7.0% (±$4.53) by Oct 30, 2026, which includes earnings on Oct 27, 2026. Over the last 8 reports the stock moved ±4.1% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 58.9% | ±7.0% |
| Nov 6, 2026 | 14 | 52.1% | ±8.5% |
| Nov 13, 2026 | 21 | 51.2% | ±10.1% |
| Nov 20, 2026 | 28 | 48.8% | ±11.0% |
| Nov 27, 2026 | 35 | 46.8% | ±12.5% |
| Dec 4, 2026 | 42 | 50.3% | ±13.8% |
| Dec 18, 2026 | 56 | 44.6% | ±14.1% |
| Jan 15, 2027 | 84 | 45.4% | ±17.5% |
30-day implied volatility 48.8% vs 32.6% realized over the last 30 trading days. Put/call ratio (volume) 1.32. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:57 UTC)
| Price | USD 64.59 |
|---|---|
| Change | ▼ 6.26% (down) |
| Previous Close | USD 68.9 |
| Open | USD 66.18 |
| Day Range | USD 64.16 – 66.6 |
| 52-Week Range | USD 38.54 – 80.24 |
| Volume | 13,545,674 shares |
| Market Cap | $92.75B |
| Exchange | NYQ |
Technical Analysis (FCX)
Nexqual's technical model rates FCX "SELL" based on 2 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 09:57 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 30.63 (neutral) |
| vs SMA50 | Below (USD 71.92) |
| MACD | -1.02 (negative) |
Analyst Ratings (FCX)
Wall Street analysts rate FCX "Buy" based on 23 analysts, with a mean price target of USD 79.2 (range USD 32–92), per Nexqual as of October 23, 2026 at 09:57 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 23 |
| Mean Target | USD 79.2 |
| High Target | USD 92 |
| Low Target | USD 32 |
| Buy / Hold / Sell | 18 / 4 / 1 |
Earnings (FCX)
| Next Earnings Date | 2026-10-27 |
|---|---|
| EPS Estimate | USD 0.83 |
| Revenue Estimate | $7.40B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.74 vs est 0.62 ▲ beat |
| 2026-03-31 | USD 0.57 vs est 0.47 ▲ beat |
| 2025-12-31 | USD 0.47 vs est 0.32 ▲ beat |
| 2025-09-30 | USD 0.5 vs est 0.41 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:57 UTC.
Financials & Fundamentals (FCX)
| Total Revenue | $25.87B |
|---|---|
| Revenue Growth (latest quarter, YoY) | -7.30% |
| Gross Margin | +38.27% |
| Operating Margin | +33.40% |
| Profit Margin | +11.39% |
| ROE | +14.75% |
| Debt / Equity | 0.32 |
| Current Ratio | 2.07 |
| Total Cash | $4.08B |
| Total Debt | $10.36B |
| Free Cash Flow (fiscal year ended Dec 2025, SEC 10-K) | $1.12B (4.3% of revenue) |
Source: Nexqual, October 23, 2026 at 09:57 UTC.
Financial Health Score (FCX)
Nexqual rates Freeport-McMoRan Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:57 UTC.
| Growth | Mixed — Revenue +1.8% YoY (annual), slow |
|---|---|
| Profitability | Solid — Gross margin 38%, operating 33% (last 12 months) |
| Balance Sheet | Strong — $4.08B cash and investments vs $9.39B debt (Jun 2026, SEC) |
| Cash Flow | Mixed — FCF $1.12B (FY ended Dec 2025, 10-K), slim 4.3% margin |
| Efficiency | Mixed — ROE 15%, ROA 7.6% |
Ownership (FCX)
| Insider Ownership | +0.72% |
|---|---|
| Institutional Ownership | +89.57% |
| Shares Outstanding | 1.44B |
| Float | 1.43B |
| Short % of Float | +1.76% |
Source: Nexqual, October 23, 2026 at 09:57 UTC.
Leadership (FCX)
Freeport-McMoRan Inc. is led by Kathleen Lynne Quirk, CEO, President & Director, per Nexqual as of October 23, 2026 at 09:57 UTC.
| CEO, President & Director | Kathleen Lynne Quirk |
|---|---|
| Executive VP & CFO | Maree E. Robertson |
| Vice President of Investor Relations | David Joint |
| Senior Vice President of International Relations & Federal Government Affairs | W. Russell King |
| Senior Vice President and President & COO of Freeport McMoRan Mining Services | A. Cory Stevens |
Major Backers & Investors (FCX)
Notable institutional backers of Freeport-McMoRan Inc. include Fisher Asset Management, LLC, Capital Group, Franklin Resources, Inc., according to Nexqual as of October 23, 2026 at 09:57 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Fisher Asset Management, LLC | 4.66% |
| Capital Group | 2.89% |
| Franklin Resources, Inc. | 2.6% |
| Bank of America Corporation | 2.53% |
| JPMorgan | 2.16% |
| Morgan Stanley | 1.81% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 8.49% |
| Vanguard Group | 6.54% |
| State Street | 4.63% |
| Geode Capital | 2.27% |
Source: Nexqual, October 23, 2026 at 09:57 UTC.
Legal & Regulatory Risks from Freeport-McMoRan Inc.'s Latest 10-K (filed 2026-02-13)
- The costs of compliance with environmental, health and safety laws and regulations applicable to our operations may constrain existing operations or expansion opportunities. Related permit and other approval requirements may delay or result in a suspension of our operations.
- New or revised environmental regulatory requirements are frequently proposed, many of which have resulted and may in the future result in substantially increased costs for our business, including those regarding financial obligations.
- We face complex and changing regulatory and stakeholder and other third-party expectations relating to our climate and energy transition plans, which may adversely affect our business.
- The physical impacts of changing climate conditions may adversely affect our mining operations, workforce, communities, biodiversity and ecosystems, supply chains and customers, which may result in increased costs.
Source: SEC EDGAR 10-K, Item 1A, official filing.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| SCCO | Southern Copper Corporation | USD 183.59 | ▼ 7.31% |
| TECK | Teck Resources Ltd | USD 58.9 | ▼ 6.18% |
| HBM | Hudbay Minerals Inc. | USD 21.89 | ▼ 8.75% |
| ERO | Ero Copper Corp. | USD 30.13 | ▼ 5.81% |
| TGB | Trekor Metals Limited | USD 7.3 | ▼ 8.29% |
| IE | Ivanhoe Electric Inc. | USD 7.89 | ▼ 7.07% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:57 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt