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

Freeport-McMoRan (NYSE:FCX) posted its quarterly earnings data on Thursday. The natural resource company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.19, FiscalAI reports. Freeport-McMoRan had a net margin of 7.97% and a return on equity of 7.84%. The company had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same period in the prior year, the firm posted $0.31 EPS. The company’s quarterly revenue was down 1.5% on a year-over-year basis.

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

NYSE FCX opened at $58.89 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.45 and a quick ratio of 1.19. The company has a fifty day moving average price of $49.37 and a 200-day moving average price of $44.91. Freeport-McMoRan has a 1 year low of $27.66 and a 1 year high of $62.13. The firm has a market cap of $84.56 billion, a price-to-earnings ratio of 41.47, a PEG ratio of 0.71 and a beta of 1.45.

Freeport-McMoRan Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, January 15th. Freeport-McMoRan’s payout ratio is currently 21.13%.

Freeport-McMoRan News Summary

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

• Positive Sentiment: Q4 results beat expectations — FCX reported $0.47 EPS vs. consensus ~$0.28 and revenue above estimates (~$5.6B vs ~$5.4B), driven by higher realized copper and gold prices that boosted net income. This is the primary catalyst lifting the stock. Freeport-McMoRan (FCX) Q4 Earnings and Revenues Beat Estimates
• Positive Sentiment: Analyst upgrades and higher price targets — HSBC and other houses have raised targets and reiterated buy/overweight views (HSBC bumped its target to $69), which is supporting momentum and investor interest. HSBC adjusts price target on Freeport-McMoRan to $69 from $48; maintains buy rating
• Positive Sentiment: Technical/market momentum — the shares recently hit a new 12‑month / 52‑week high amid the earnings/upgrade cycle, reinforcing momentum flows into the stock. Freeport-McMoRan (NYSE:FCX) Sets New 12-Month High Following Analyst Upgrade
• Neutral Sentiment: Management commentary and details available — the earnings call and full transcript provide color on volumes, costs and capital spending; investors will parse guidance and Q1/2026 outlook on the call transcript. Freeport-McMoRan (FCX) Q4 2025 Earnings Transcript
• Negative Sentiment: Trimmed 2026 copper‑sales outlook — Freeport trimmed its 2026 copper sales outlook after Q4 volume dynamics, which could limit upside if volumes remain pressured. Investors should watch revised production/volume guidance. FCX Earnings Beat; 2026 Copper Sales Outlook Trimmed
• Negative Sentiment: Operational headwinds at Grasberg and lower volumes — production was materially affected by a suspension at one mine (Grasberg), reducing volumes and pressuring some operating metrics despite price-driven profit gains. That operational risk could cap the share rally if unresolved. Freeport-McMoRan profit beats as high copper prices offset Grasberg hit

Insider Transactions at Freeport-McMoRan

In related news, CAO Ellie L. Mikes sold 9,572 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $47.66, for a total value of $456,201.52. Following the transaction, the chief accounting officer directly owned 38,761 shares of the company’s stock, valued at approximately $1,847,349.26. The trade was a 19.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Stephen T. Higgins sold 28,423 shares of Freeport-McMoRan stock in a transaction dated Thursday, December 11th. The stock was 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 directly owned 105,294 shares in the company, valued at approximately $5,053,059.06. This represents a 21.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Freeport-McMoRan

Hedge funds have recently modified their holdings of the stock. JPL Wealth Management LLC purchased a new position in shares of Freeport-McMoRan during the 3rd quarter valued at $33,000. WealthCollab LLC lifted its holdings in Freeport-McMoRan by 17.1% during the second quarter. WealthCollab LLC now owns 1,820 shares of the natural resource company’s stock valued at $79,000 after purchasing an additional 266 shares during the last quarter. Monetary Management Group Inc. bought a new position in Freeport-McMoRan during the second quarter worth about $87,000. Imprint Wealth LLC purchased a new position in shares of Freeport-McMoRan in the third quarter worth about $82,000. Finally, Transamerica Financial Advisors LLC raised its position in shares of Freeport-McMoRan by 77.4% in the second quarter. Transamerica Financial Advisors LLC now owns 3,130 shares of the natural resource company’s stock valued at $136,000 after purchasing an additional 1,366 shares during the period. Institutional investors own 80.77% of the company’s stock.

Analysts Set New Price Targets

FCX has been the topic of a number of recent analyst reports. Citigroup boosted their price objective on Freeport-McMoRan from $48.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Wells Fargo & Company increased their price target on Freeport-McMoRan from $55.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating in a research report on Friday. UBS Group increased their target price on shares of Freeport-McMoRan from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Freeport-McMoRan from $58.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.30.

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.