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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.
Mining stocks can be complex investments. But the structural case for Freeport-McMoRan Inc. NYSE: FCX heading into earnings was straightforward.
Freeport-McMoRan Inc. (FCX) Q1 2026 Earnings Call Transcript
FCX tops Q1 estimates as profits surge 150% and revenues beat forecasts, while higher copper, gold and molybdenum prices offset weaker volumes.
Freeport-McMoRan Inc (NYSE:FCX, XETRA:FPMB) shares fell on Thursday after the US copper miner reported quarterly results that beat profit expectations but flagged weaker production and a slower-than-expected recovery at its key Indonesian mine. The company reported first-quarter adjusted earnings per share of $0.57, above analyst expectations of $0.47, while revenue rose to $6.23 billion compared with estimates of $5.96 billion.
Although the revenue and EPS for Freeport-McMoRan (FCX) give a sense of how its business performed in the quarter ended March 2026, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Freeport-McMoRan (FCX) came out with quarterly earnings of $0.57 per share, beating the Zacks Consensus Estimate of $0.47 per share. This compares to earnings of $0.24 per share a year ago.