Freeport-McMoRan (NYSE:FCX) Releases Earnings Results, Beats Estimates By $0.19 EPS

Freeport-McMoRan (NYSE:FCX) released its quarterly earnings results on Thursday. The natural resource company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.28 by $0.19, Zacks reports. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The business had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter in the prior year, the business earned $0.31 earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year.

Here are the key takeaways from Freeport-McMoRan’s conference call:

• Grasberg block cave recovery is de‑risking — mud removal for PB2/PB3 is ~97% complete with a targeted restart in Q2 2026, management expects ~85% of district production restored in H2 2026 and staged returns for PB1S (mid‑2027) and PB1C (end‑2027).
• The company is scaling a low‑cost U.S. leach program as a key growth driver — targeting ~$250–$300M in 2026, ~$400M in 2027 and plans to scale toward ~$800M per year if field tests of additives and heated‑solution injections succeed.
• 2026 guidance assumes unit net cash costs of about $1.75 per pound (H2 run‑rate ~ $1.25/lb); modeled 2027–28 EBITDA ranges ~$11B–$19B at $4–$6/lb copper and the company is highly leveraged to copper price moves (≈ $415M EBITDA per $0.10/lb change).
• Freeport plans to invest for growth but maintain financial flexibility — 2026–27 CapEx of roughly $4.3–$4.5B (discretionary ~$1.6–$1.7B), an investment‑grade balance sheet, no material 2026 maturities, and $5.7B returned to shareholders to date.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $60.46 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.19 and a current ratio of 2.29. The stock has a market cap of $86.81 billion, a PE ratio of 40.04, a P/E/G ratio of 0.69 and a beta of 1.45. Freeport-McMoRan has a 1 year low of $27.66 and a 1 year high of $62.13. The stock has a fifty day moving average price of $49.78 and a 200 day moving average price of $45.01.

Freeport-McMoRan Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Thursday, January 15th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, January 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 21.13%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $53.50 to $54.00 in a research note on Friday. Wells Fargo & Company boosted their price target on shares of Freeport-McMoRan from $55.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. JPMorgan Chase & Co. raised their price objective on shares of Freeport-McMoRan from $58.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Clarkson Capital raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Wednesday, November 19th. Finally, CICC Research cut their target price on Freeport-McMoRan from $51.60 to $42.30 and set an “outperform” rating for the company in a research note on Friday, September 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.20.

Insiders Place Their Bets

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 9,572 shares of Freeport-McMoRan stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $47.66, for a total transaction of $456,201.52. Following the completion of the transaction, the chief accounting officer owned 38,761 shares in the company, valued at approximately $1,847,349.26. The trade was a 19.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Stephen T. Higgins sold 28,423 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $47.99, for a total transaction of $1,364,019.77. Following the completion of the sale, the chief accounting officer owned 105,294 shares in the company, valued at $5,053,059.06. This represents a 21.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Sivia Capital Partners LLC purchased a new stake in shares of Freeport-McMoRan in the second quarter valued at $560,000. Brighton Jones LLC increased its position in Freeport-McMoRan by 24.2% during the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after purchasing an additional 2,882 shares in the last quarter. Bison Wealth LLC raised its stake in Freeport-McMoRan by 5.6% in the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock valued at $366,000 after purchasing an additional 507 shares during the last quarter. Ausdal Financial Partners Inc. acquired a new position in Freeport-McMoRan in the 3rd quarter valued at about $238,000. Finally, Ancora Advisors LLC lifted its holdings in Freeport-McMoRan by 62.1% in the 3rd quarter. Ancora Advisors LLC now owns 5,996 shares of the natural resource company’s stock valued at $235,000 after purchasing an additional 2,296 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Freeport-McMoRan

Here are the key news stories impacting Freeport-McMoRan this week:

• Positive Sentiment: Q4 results beat consensus: FCX reported Q4 EPS above estimates and revenue topped expectations, driven by higher realized copper and gold prices which offset lower volumes. The company reiterated financial materials and hosted a conference call. MarketBeat Earnings Summary
• Positive Sentiment: Analyst upgrades and price targets lifted sentiment: recent upgrades and bullish targets helped push FCX to a new 12‑month high, supporting momentum in the stock. Analyst Upgrade/12‑Month High
• Positive Sentiment: Commodity tailwinds: rising copper and gold prices materially boosted profits in Q4 and underpin revenue upside potential for 2026, a key reason investors are favoring FCX as a leveraged way to play the metals rally. Reuters: Profit Beat, Commodity Impact
• Neutral Sentiment: Grasberg mine restart timeline: management said the Grasberg mine (Indonesia) is on track for a Q2 restart after the deadly mudslide — a positive operational milestone but still contains execution and permitting risks. MSN: Grasberg Restart
• Neutral Sentiment: Zacks/style coverage and valuation notes: Zacks flagged FCX as a top‑ranked value stock for certain investor styles, increasing visibility among value-focused funds. That can attract inflows but doesn’t change fundamentals. Zacks: Value Stock Callout
• Negative Sentiment: Volumes and guidance caveats: management trimmed 2026 copper sales volume guidance after Q4, and production was hurt in the quarter by the Grasberg suspension — factors that limit upside unless volumes recover. Investor’s Business Daily: Sales Outlook Trimmed
• Negative Sentiment: Operational and cash-flow pressures: while net income rose, gross and operating profit declined and operating cash flow fell year‑over‑year in Q4, highlighting cost and volume headwinds that could constrain margins if metal prices weaken. Yahoo Finance: Q4 Highlights
• Neutral Sentiment: Investor interest/longer-term performance: pieces on long‑term returns and valuation (e.g., Benzinga/MarketBeat articles) increase retail attention but are less likely to move the stock than fresh earnings/operational news. Benzinga: 5‑Year Returns

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.