FCX
Freeport-McMoRan Inc.

Freeport-McMoRan Inc.FCX

Basic Materials · Copper
74.35USD
+3.03%
Sep 23, 2026
FCX overview ready
Large-Scale Copper Producer Supporting Electrification with Global Mining Operations
Large-scale primary copper producer with operating mines in the United States, Peru and Indonesia, plus meaningful gold and molybdenum by-products.
Strong narrative exposure
Exposed to the Critical Minerals Supply Security narrative through Large-Scale Copper Mine Supply for Electrification — pure play.
Constructive pullback in an uptrend
Longer-term context reads mature trend, with a near-term setup of constructive pullback.
Demanding valuation
The price embeds expectations that run ahead of the growth it delivers per turn of revenue multiple.
Unremarkable fundamentals
Primary risk
Volatility in commodity prices.
Market Sep 22Filing Jun 30Price action Sep 22Research Sep 1

Conviction Level

NarrativeHeat7.5ThemeHeat7.8PriceAction8.6Valuation3.2CompanyPosition7.3
Price
Loading price history…

Price Action

Constructive pullback in an uptrend
Longer-term context reads mature trend, with a near-term setup of constructive pullback.
EntryReset + recovery

The stock remains extended from its long-term weekly base, but the recent reset toward the daily SMA100 aligned with support at the weekly EMA21. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$106.8B
Avg Volume (60D)
13.5M
60 sessions
Revenue Growth YoY
+0.1%
FY2025 vs FY2024
Gross Margin
+24.6%
Trailing twelve months
Operating Margin
+27.4%
Trailing twelve months
Free Cash Flow Yield
+1.5%
Distance from 200DMA
+19.1%
Next Earnings
2026-10-22
P/E
21.8x
EV / EBITDA
12.4x
EV / Sales
4.4x
Market metrics as of Sep 22, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026

Fundamentals & Valuation

One of the two valuation perspectives says expensive; peers is the dissenting view.
Freeport-McMoRan Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of the growth it delivers per turn of revenue multiple.

Company Research

Thesis
Large-scale primary copper producer with operating mines in the United States, Peru and Indonesia, plus meaningful gold and molybdenum by-products. The exposure is adjacent rather than pure-play: the company sells into the same demand, alongside a broader business.
Opportunity
Moderate opportunity
The need to develop, operate and extend large, long-lived copper mines as power-grid expansion, electrification, industrial investment and digital infrastructure increase copper demand while new supply remains difficult and slow to bring online.
Key risk
Volatility in commodity prices.

Narrative & Theme

Critical Minerals Supply Security
Part of Large-Scale Copper Mine Supply for Electrification, with strong fit.
FCX is a copper-centered global miner rather than a uranium company or a lithium/rare-earth processor.
Narrative HeatHeating up7.5 / 10
Theme HeatHeating up7.8 / 10

Business & Markets

Basic Materials · Copper
What they do

Freeport-McMoRan Inc. operates large-scale mining operations primarily focused on copper, gold, molybdenum, silver, and other metals across North America, South America, and Indonesia.

How it earns

The company generates revenue through the sale of mined metals on global commodity markets.

Products & services
Copper
Gold
Molybdenum
Silver
Customers & end markets
Industrial manufacturers
Metals and mining commodity markets
Market position

Freeport-McMoRan is a leading global copper producer with significant mining assets in multiple key regions.

Demand drivers
High cyclicality

Mining commodity prices and demand are highly cyclical and sensitive to global economic conditions.

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