FCX
Freeport-McMoRan Inc.

Freeport-McMoRan Inc.FCX

Basic Materials · Copper
59.42USD
+2.63%
Nov 08, 2026
FCX overview ready
Large-Scale Copper Mine Supply for Electrification Infrastructure
FCX is a large-scale global copper producer with major mining operations in the United States, South America and Indonesia, plus associated gold and molybdenum output and downstream Indonesian copper processing.
Primary theme is lagging
Critical Materials is lagging (-15.2pp vs SPY over 21 sessions; 0 of 14 members ahead of SPY).
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
Fair valuation
The price broadly reflects the level and quality of its cash generation, with upside and risk reasonably balanced.
Solid fundamentals
Ev / ebitda is strong.
Primary risk
Volatility in copper prices.
Market Nov 6Filing Sep 30Price action Nov 7Research Oct 2

Conviction Level

PriceAction3.4BusinessPerformance—BusinessQuality7.4Valuation4.0ThemeMomentum1.0This company's quarterly figures could not be reconciled to its filed statement totals, so no performance read is shown.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−15.2pp
Theme return
−20.2%
Beating SPY
0 of 14
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
EntryWeak / unconfirmed recovery

The daily chart may be improving, but the weekly fast averages have not been reclaimed — the recovery is not yet confirmed on the higher timeframe.

Key Financials

Market Cap
$85.3B
Avg Volume (60D)
11.8M
60 sessions
Revenue Growth YoY
+0.1%
FY2025 vs FY2024
Gross Margin
+38.9%
Operating Margin
+28.2%
Trailing twelve months
Free Cash Flow Yield
+2.2%
Distance from 200DMA
-8.6%
Next Earnings
2027-01-21
P/E
25.1x
EV / EBITDA
9.7x
EV / Sales
3.5x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Insufficient evidence

This company's quarterly figures could not be reconciled to its filed statement totals, so no performance read is shown.

Business Quality

7.4 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

All three valuation perspectives agree this company is fair.
Freeport-McMoRan Inc. has a Fair valuation stance because the price broadly reflects the level and quality of its cash generation, with upside and risk reasonably balanced.

Company Research

Thesis
FCX is a large-scale global copper producer with major mining operations in the United States, South America and Indonesia, plus associated gold and molybdenum output and downstream Indonesian copper processing.
Opportunity
Moderate opportunity
Large, long-lived copper mine supply and brownfield expansion capacity needed to serve rising copper intensity in electricity grids, generation, industrial electrification, transport and digital infrastructure amid difficult project permitting, declining ore grades and constrained discovery pipelines.
Key risk
Volatility in copper prices.

Economic classification

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Business & Markets

Basic Materials · Copper
What they do

Freeport-McMoRan Inc. operates large-scale mining operations primarily focused on copper, along with gold, molybdenum, silver, and other metals, across North America, South America, and Indonesia. It manages both extraction and downstream copper processing activities.

How it earns

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

Products & services
Copper
Gold
Molybdenum
Silver
Downstream copper processing
Customers & end markets
Industrial metal consumers
Electricity grid and infrastructure sectors
Transport and digital infrastructure industries
Market position

Leader in large-scale copper mining with significant global operations and expansion capacity.

Demand drivers
High cyclicality

Revenues and earnings are closely tied to volatile global copper prices and demand cycles.

Peers

Companies validated as economically comparable to FCX — similar business, revenue model and scale.
PRICE ACTIONVALUATIONTHEME
Southern Copper CorporationTrend Under Pressure — Failed ReclaimFair8.0HighUnavailableNot in RS poolLocked$167.27+1.14%
Hudbay Minerals Inc.Trend Under Pressure — Distribution PressureFair8.0HighUnavailableNot in RS poolLocked$20.91+1.60%