Freeport-McMoRan Inc. (FCX) is a global mining business that explores, develops and produces copper, gold, and molybdenum from extensive, long-term operations in various regions. Its portfolio includes significant mining sites in the US and Indonesia. The company’s main corporate headquarters are located in Phoenix, Arizona. It has a market capitalization of $97.84 billion, making it a “large-cap” stock.
FCX stock hit an all-time high of $69.75 on February 25, but is down 2.4% from that level. The stock has risen 61.5% in the past three months as prices for copper and other metals have risen, improving the company’s outlook. In contrast, the Dow Jones Broad Industrial Average ($DOWI) is up 3.3% over the same period. Therefore, the stock has outperformed the broader index over this period.
Over the past 52 weeks, the stock has gained 81.9%, while the Dow Jones index has risen 13.3%. FCX shares are up 34% year-to-date (YTD), while the index has gained 1.9%. The stock has been trading above its 50-day and 200-day moving averages since late November 2025.
On Jan. 22, FCX reported better-than-expected fourth-quarter results, generating $5.63 billion in revenue and $0.47 in adjusted EPS. The company’s real copper and gold sales were better than what it had previously expected.
Freeport remains on track to restart the Grasberg Block Cave underground mine in Indonesia, starting in the second quarter of this year. Last month, FCX announced a memorandum of understanding with the Indonesian government to extend operating rights to PT Freeport Indonesia (PTFI) for resource life in the Grasberg mineral district.
We compare Freeport-McMoRan’s performance to another basic materials stock, Rio Tinto Group ( RIO ), which has gained 63.6% over the past 52 weeks and 24.1% YTD. Therefore, FCX was a clear improvement in these periods.
Wall Street analysts are bullish on Freeport-McMoRan stock. The stock has a consensus rating of “Strong Buy” from the 21 analysts that cover it. An average price target of $65.71 implies a downside of 3.5% from current levels. However, the high street price target of $81 indicates a 19% upside.
As of the date of publication, Anushka Dutta had no position (either directly or indirectly) in any of the secrets mentioned in this article. All information and data in this article is for informational purposes only. This article was originally published on Barchart.com
