Freeport-McMoRan is rated Buy, supported by resilient U.S. operations, a robust expansion pipeline, and discounted valuation at 7.6x EV/EBITDA FWD. Despite a 9% copper and 7% gold production cut at Grasberg, U.S. mines sustain results, with unit net cash costs at $1.91/lb and strong operating margins. FCX's growth pipeline—Bagdad, El Abra, Lone Star, and innovative leach—offers low execution risk and profitability even at conservative copper prices.
Freeport and Southern Copper push ahead with major projects leveraging strong cash flows and favorable copper prices.
Freeport-McMoRan Inc. (FCX) Presents at Bank of America Global Metals, Mining & Steel Conference 2026 Transcript
Despite the Zacks Mining - Non Ferrous industry's weak near-term outlook, stocks like SCCO, FCX and LUNMF are worth keeping an eye on given their growth potential.
FCX cuts 2026 copper sales outlook after Grasberg disruptions hit volumes, despite stronger copper and gold prices boosting Q1 results.
Freeport-McMoRan (FCX) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
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FCX has surged 48% in six months on strong copper prices and earnings, but higher costs and weaker volumes cloud its near-term outlook.
For copper mining giant Freeport McMoRan NYSE: FCX, 2025 proved to be a very strong year. The stock delivered a total return of over 35%, marking its best annual performance since 2021.
Zacks.com users have recently been watching Freeport-McMoRan (FCX) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
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Freeport-McMoRan remains bullish despite Grasberg mine setbacks, as reduced output supports higher copper prices amid robust demand. Q1'26 revenues rose 8.7% YoY to $6.23B, with EPS at $0.57 helped by a $700 million insurance payout, offsetting production declines. FCX now targets 2026 copper sales of 3.1 billion lbs, with Grasberg at 0.8 billion lbs and full capacity delayed to late 2027.