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FCX US​
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FCX US​
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Freeport-mcmoran Inc(FCX US)

$61.83-1.141.81%(Market Open · 18:45:12 UTC)
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Freeport-mcmoran Inc(FCX US)

$61.83-1.141.81%(Market Open · 18:45:12 UTC)
Ask AI
Doc SearchProfileEntity StructureFinancialsChartingShort InterestEmployees

Overview

ProfileEntity Structure

Documents

SEC Filings

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FinancialsChartingShort InterestEmployees

Financials & Metrics

FinancialsChartingShort InterestEmployees

Freeport-mcmoran Inc — Company Profile

Freeport-McMoRan Inc. is a prominent mining enterprise conducting extensive operations across North America, South America, and Indonesia. The company primarily focuses on the exploration and extraction of key mineral resources such as copper, gold, molybdenum, and silver, alongside other valuable metals. Additionally, it maintains a significant presence in the oil and gas sector. Its diverse portfolio of assets features the notable Grasberg minerals district in Indonesia; numerous sites in the United States including Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado. In South America, its holdings include Cerro Verde in Peru and El Abra in Chile. Beyond its mineral interests, Freeport-McMoRan operates a collection of oil and gas properties, predominantly situated off the coasts of California and in the Gulf of Mexico, managing approximately 135 wells as of December 31, 2021. Founded in 1987 and headquartered in Phoenix, Arizona, the company adopted its current name, Freeport-McMoRan Inc., in July 2014, having previously operated as Freeport-McMoRan Copper & Gold Inc.

Exchange
UN
CEO
Kathleen L. Quirk
Headquarters
Phoenix, AZ, US
IPO Date
Jul 10, 1995
Employees
29,000
Website
fcx.com

Key Metrics

Price
$72.30
Market Cap
$103.94B
Revenue (TTM)
$0.00
Net Income (TTM)
$0.00
EPS (TTM)
0.00
P/E (TTM)
38.03
P/B (TTM)
5.33
Dividend Yield
0.00%
ROE (TTM)
0.00%
ROA (TTM)
0.00%
Operating Margin
0.00%
Beta
0.00

Dividends

Last Dividend
$0.00
Last Yield
0.00%

Summary

Freeport-McMoRan Inc. is a prominent mining enterprise conducting extensive operations across North America, South America, and Indonesia. The company primarily focuses on the exploration and extraction of key mineral resources such as copper, gold, molybdenum, and silver, alongside other valuable metals. Additionally, it maintains a significant presence in the oil and gas sector. Its diverse portfolio of assets features the notable Grasberg minerals district in Indonesia; numerous sites in the United States including Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado. In South America, its holdings include Cerro Verde in Peru and El Abra in Chile. Beyond its mineral interests, Freeport-McMoRan operates a collection of oil and gas properties, predominantly situated off the coasts of California and in the Gulf of Mexico, managing approximately 135 wells as of December 31, 2021. Founded in 1987 and headquartered in Phoenix, Arizona, the company adopted its current name, Freeport-McMoRan Inc., in July 2014, having previously operated as Freeport-McMoRan Copper & Gold Inc.

Website
fcx.com
Location
Phoenix, AZ, US
Phone602 366 8100
Employees29,000
CEOKathleen L. Quirk
IPO DateJul 10, 1995

Ask AI

Company overview
Business model, segments, and competition.
Peer comparison
Metrics vs closest competitors.
Guidance & outlook
Forward guidance and assumptions.
Bull vs bear case
Upside drivers and key risks.
Valuation snapshot
Multiples vs history and peers.
Competitive moat
Defensibility and market position.
Management track record
Leadership and capital allocation history.
How it makes money
A short diagram of the business model.

Latest Documents

SEC Filings(2.4K)

Expand
  • 8-KResults of Operations and Financial Condition27 Oct
  • 8-K1 Freeport Provides Third-Quarter 2026 Operational Update  Third-quarter 2026 consolidated copper and gold production approximated expectations  Third-quarter 2026 consolidated copper sales expected to approximate July estimates; consolidated gold sales impacted by timing in Indonesia  Mining operations in the Grasberg minerals district proceeding in line with expectations  Operations at PTFI’s smelter re-commenced in late August 2026  Positioned for future growth PHOENIX, AZ, October 2, 2026 - Freeport (NYSE: FCX) today provided an update on its third-quarter 2026 operating results. CONSOLIDATED RESULTS Third-quarter 2026 consolidated copper production of approximately 830 million pounds was in line with expectations, with slightly better results from international operations offsetting slightly lower production in the U.S. Third-quarter 2026 consolidated gold production of approximately 230 thousand ounces approximated expectations. Changes in the timing of gold sales at PT Freeport Indonesia (PTFI) resulted in the deferral of approximately 60 thousand ounces of refined gold from third-quarter 2026 to fourth-quarter 2026. FCX expects its consolidated copper sales for third-quarter 2026 to approximate its July 2026 estimate of 750 million pounds. FCX expects consolidated gold sales for third-quarter 2026 to approximate 100 thousand ounces, which is below its July 2026 estimate reflecting the impact of deferred gold sales. Consolidated unit net cash costs (net of by-product credits and excluding idle facility and restoration costs associated with the phased ramp-up of the Grasberg Block Cave underground mine) for third-quarter 2026 are currently expected to be approximately 5% above the July 2026 estimate of $2.00 per pound of copper, principally reflecting lower by-product credits resulting from the impact of deferred gold sales. FCX estimates its third-quarter 2026 consolidated average realized price to exceed $6.50 per pound of copper. The U.S. operations experienced lower than planned operating rates in third-quarter 2026 associated with an increased frequency of localized flooding, power outages and strong winds. In Indonesia, abnormally dry weather conditions have been generally favorable for mining but present various challenges in the milling process which are being actively managed with limited impact to date.{N4163160.1} 2 GRASBERG UPDATE Significant progress continued for the phased ramp-up of the Grasberg Block Cave underground mine. During third-quarter 2026, mill throughput averaged approximately 140,000 metric tons of ore per day (approximating 67% of normalized rates prior to the September 2025 incident), including approximately 70,000 metric tons of ore per day from the Grasberg Block Cave. Upgrades to the material handling system at the Grasberg Block Cave haulage level are progressing toward completion by early 2027, and preparations continue for the targeted restart of production from Production Block 1S by mid-2027. FCX continues to expect to reach 80% of capacity in mid-2027 and approach full capacity by year-end 2027. PTFI’s smelter in Eastern Java, which was temporarily suspended following the September 2025 Grasberg incident, successfully re-commenced operations in late August 2026. Ramp-up activities are proceeding in line with expectations. A recent video highlighting the operation is available on fcx.com. PTFI has combined smelting capacity, including PT Smelting, to produce up to approximately 800,000 metric tons of cathode per annum and a precious metals refinery capable of processing all of PTFI’s gold production. FUTURE GROWTH FCX is strongly positioned for future growth opportunities with ongoing progress on the Grasberg recovery, innovation-led growth and potential organic brownfield development opportunities. During third-quarter 2026, FCX continued to progress its America’s Copper ChampionTM growth plans, including advancing projects to scale its innovative leach initiative and finalizing work to reach an investment decision by year-end 2026 to double the capacity of its Bagdad operation in Northwest Arizona. In addition, FCX continues to advance the regulatory process for a potential transformative expansion of its El Abra mine in Chile. FCX plans to release its third-quarter 2026 earnings results before the market opens on Tuesday, October 27, 2026, and will hold a conference call to discuss the results at 10:00 a.m. Eastern Time. FREEPORT: Foremost in Copper FCX is a leading international metals company with the objective of being foremost in copper. Headquartered in Phoenix, Arizona, FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is one of the world’s largest publicly traded copper producers. FCX’s portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits; and significant operations in the U.S. and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru. By supplying responsibly produced copper, FCX is proud to be a positive contributor to the world well beyond its operational boundaries. Additional information about FCX is available on FCX's website at fcx.com. Cautionary Statement: This press release contains forward-looking statements in which FCX discusses its potential future performance, operations and projects. Forward-looking statements are all statements other than statements of historical facts, such as plans, projections or expectations relating to business outlook, strategy, goals or targets; restoration and remediation efforts, and phased ramp-up of production and downstream processing following the September 2025 external mud rush incident at PTFI’s Grasberg Block Cave underground mine and the anticipated impact on our business, production, sales, results of operations and operating plans; ore grades and milling rates; production and sales volumes; unit net cash costs; timing of sales of inventoried production; improvements in operating procedures and technology innovations and applications; development and production activities, rates and costs; future organic growth opportunities and investment decisions; and the impact of copper and gold price changes. The words “anticipates,” “may,” “can,” “plans,” “believes,” “estimates,” “expects,” “projects,” "targets," “intends,” “likely,” “will,” “should,” “to be,” “potential" and any similar expressions are intended to identify those assertions as forward-looking statements.{N4163160.1} 3 FCX cautions readers that forward-looking statements are not guarantees of future performance and actual results may differ materially from those anticipated, expected, projected or assumed in the forward-looking statements. Important factors that can cause FCX's actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, supply of and demand for, and prices of the commodities FCX produces, primarily copper and gold; changes in export duties and tariff rates; production rates; timing of shipments and sales; reduced customer demand or capacity; changes in the terms of arrangements or contracts; PTFI’s ability to repair mud rush incident-related damage, implement enhanced operating procedures, safely restart with a phased ramp-up and achieve full operating rates of production and downstream processing on the expected timeline and optimize production plans; changes in mine plans or operational modifications, delays, deferrals or cancellations, including the ability to smelt and refine or inventory production; weather- and climate-related risks; and other factors described in more detail under the heading “Risk Factors” in FCX's Annual Report on Form 10-K for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (SEC). Investors are cautioned that many of the assumptions upon which FCX's forward-looking statements are based are likely to change after the date the forward-looking statements are made, including for example commodity prices, which FCX cannot control, and production volumes and costs, some aspects of which FCX may not be able to control. Further, FCX may make changes to its business plans that could affect its results. FCX undertakes no obligation to update any forward-looking statements, which speak only as of the date made, notwithstanding any changes in its assumptions, changes in business plans, actual experience or other changes. The operational estimates in this press release are subject to further changes upon completion of FCX’s normal quarterly closing process and procedures. # # #2 Oct
  • 4GRANT HUGH1 Oct
  • 4STEPHENS JOHN JOSEPH1 Oct
  • SDSD24 Sep
  • 8-KOther Events8 Sep
  • 4KENNARD LYDIA H28 Aug
  • 144KENNARD LYDIA H27 Aug
  • 4Currault Douglas N. II26 Aug
  • 144Currault Douglas N. II25 Aug
  • 10-QQ2ended 30 Jun 20266 Aug
  • 4Mikes Ellie L.5 Aug
  • 4Higgins Stephen T.5 Aug
  • 144Higgins Stephen T.5 Aug
  • 144Mikes Ellie L.5 Aug
  • 4Higgins Stephen T.3 Aug
  • 144Higgins Stephen T.30 Jul
  • 8-KResults of Operations and Financial Condition23 Jul
  • 4STEPHENS JOHN JOSEPH1 Jul
  • 4GRANT HUGH1 Jul

News

  • Freeport-McMoRan: Grasberg Remains On Schedule, And I Remain At Buy05:05AM
  • BOCHK Asset Management Ltd Acquires 46,500 Shares of Freeport-McMoRan Inc. $FCX04:19AM
  • Freeport-McMoRan Inc. $FCX Holdings Decreased by Bank Julius Baer & Co. Ltd Zurich03:45AM
  • C3 Metals Intersects 64.9 Metres at 3.45% Copper Equivalent, Including 23.3 Metres at 6.64% Copper Equivalent at its Khaleesi Project, Peru - Highest Grade Copper and Gold Mineralization Intersected to Date at Khaleesi2 Nov
  • 75,839 Shares of Freeport-McMoRan Inc. $FCX Purchased by International Assets Investment Management LLC2 Nov
  • Copper Is Priced Like an AI Stock Now. What the Sell-off Means for Freeport-McMoRan.1 Nov
  • Freeport-McMoRan Inc. $FCX Stock: Bokf Na Reduces Holdings31 Oct
  • 5 Non-Ferrous Metal Mining Stocks to Watch in a Challenging Industry30 Oct
  • Freeport-McMoRan Q3: Grasberg Is Coming Back, But The Price Got There First (Rating Downgrade)29 Oct
  • FCX Q3 Earnings Call Highlights Grasberg Recovery and Growth Plans28 Oct
  • What Freeport-McMoRan (FCX) Said on Its Q3 Earnings Call27 Oct
  • Freeport-McMoRan Inc. (FCX) Q3 2026 Earnings Call Transcript27 Oct
  • FCX Q3 Earnings Beat Estimates on Strong Copper Pricing27 Oct
  • Compared to Estimates, Freeport-McMoRan (FCX) Q3 Earnings: A Look at Key Metrics27 Oct
  • Freeport-McMoRan (FCX) Q3 Earnings and Revenues Surpass Estimates27 Oct
  • Freeport beats Q3 earnings expectations despite rising costs and sharp drop in gold sales27 Oct
  • Freeport-McMoRan Inc (FCX) Q3 2026 Earnings Report: EPS at $0.81, Revenue Reaches $7.5 Billion, Exceeding Estimates27 Oct
  • Freeport Third-Quarter and Nine-Month 2026 Financial and Operating Results Release Available on Its Website27 Oct
  • Q3 Peak Season Arrives: Strong Beats, Sky-High AI Scrutiny26 Oct
  • Why Investors Need to Take Advantage of These 2 Basic Materials Stocks Now26 Oct

Mentions in Filings

  • The following is a summary of the terms of the notes offered by the preliminary pricing supplement hyperlinked below. Summary of Terms Issuer: JPMorgan Chase Financial Company LLC Guarantor: JPMorgan Chase & Co. Minimum Denomination: $1,000 Reference Stock: Common stock of Freeport - McMoRan Inc. Pricing Date: November 5, 2026 Final Review Date: November 6, 2028 Maturity Date: November 9, 2028 Review Dates: Quarterly Contingent Interest Rate: At …
    JPMorgan Chase Financial Co. LLCFreeport-mcmoran Inc·FWP - FACT SHEET·Q4 26·2 Nov
  • The following is a summary of the terms of the notes offered by the preliminary pricing supplement hyperlinked below. Summary of Terms Issuer: JPMorgan Chase Financial Company LLC Guarantor: JPMorgan Chase & Co. Minimum Denomination: $1,000 Reference Stock: Common stock of Freeport - McMoRan Inc. Pricing Date: November 5, 2026 Final Review Date: November 6, 2028 Maturity Date: November 9, 2028 Review Dates: Quarterly Contingent Interest Rate: At …
    JPMORGAN CHASE & COFreeport-mcmoran Inc·FWP - FACT SHEET·Q4 26·2 Nov
  • … hucchacua\*, Julcani\*, Tambomayo\*, La Zanja\*, San Gabriel\*, El Brocal and Coimolache). The Company holds a 19.58% ownership interest in Sociedad Minera Cerro Verde, a major Peruvian copper producer, alongside <strong>Freeport-McMoRan Inc.</strong> and Sumitomo Corporation. (\*) Wholly owned operations. For a printed copy of the Company’s 2025 Form 20-F, please contact Investor Relations or download the PDF version from the Company’s website at www.buenaven …
    BUENAVENTURA MINING CO INCFreeport-mcmoran Inc·6-K - Current report (foreign private issuer)·Q4 26·29 Oct
  • … n advantaged asset footprint in the Permian Basin and recently signed a 20-year agreement with ExxonMobil to provide critical infrastructure to support their growing Permian production. In Materials, our position in <strong>Freeport-McMoran</strong> was a source of relative strength. As one of the world’s largest copper miners, the company benefited from steady strength in copper prices, which achieved a 20-year high in September. The company’s continued progres …
    ADAMS NATURAL RESOURCES FUND, INC.Freeport-mcmoran Inc·N-30B-2·Q3 26·21 Oct
  • … ftware integral to the evolution of AI through our holdings in Palo Alto Networks and Snowflake, respectively. In Materials, the Fund generated a 2.6% return compared to the benchmark’s -2.8% return. Our position in <strong>Freeport-McMoran</strong> was a source of relative strength. As one of the world’s largest copper miners, the company benefited from steady strength in copper prices, which achieved a 20-year high in September. The company’s continued progres …
    ADAMS DIVERSIFIED EQUITY FUND, INC.Freeport-mcmoran Inc·N-30B-2·Q3 26·21 Oct
  • … an, Kemess South and Gibraltar, all of which are porphyry copper±gold deposits that are currently producing or were formerly producing mines. Recently, Amarc Resources, an HDI-associated company, with funding from <strong>Freeport-McMoran Inc.</strong>, announced the exciting discovery of the Tier One AuRORA gold-copper porphyry deposit also in British Columbia. Other well-known projects with HDI involvement include Sisson, Duke and Prosperity in Canada, Pebble a …
    QUARTZ MOUNTAIN RESOURCES LTDFreeport-mcmoran Inc·EX-99.1 - 6-K - PRESS RELEASE·Q1 27·19 Oct

Key Stats

Trading

Px/Chg 1D$72.30 / +0.36%
52 Wk H$0.00
52 Wk L$0.00
Avg Volume0.00
Beta0.00
Mkt Cap103.94B

Float

Shrs Out/Float1.44B / 1.43B
Short Float0.00%
Days to Cover0.00
Stock Repurchased$0.00

Current Valuation

EV122.33B
EV/EBITDA12.75
EV/Sales4.63
P/B5.33
P/S3.93
FCF Yield0.50%
ROE0.00%
ROA0.00%
Current Ratio0.00

Estimates

P/E38.03
Est P/EN/A
Est EPSN/A
Est PEGN/A

Valuation

Metric5Yr AvgMay '23May '24May '25May '26Oct '26
PRICE-BASED RATIOS
Price / Earnings83.3915.1340.0128.41215.42117.97
Price / Sales7.962.243.252.1015.5316.67
Price / Book Value4.163.374.413.044.635.33
Price / Free Cash Flow93.0331.35161.9622.7450.01199.11
ENTERPRISE VALUE METRICS
Enterprise Value90,724.964,473.588,844.370,505.9107,475.2122,325.6
Enterprise Value / Sales9.632.763.912.7719.0819.62
Enterprise Value / EBITDA32.986.9410.347.4594.1945.95
Enterprise Value / EBIT50.618.8613.629.76163.8356.95

Financials

Full Financials
Millions USD5Yr CAGR (%)Dec '21Dec '22Dec '23Dec '24Dec '25
INCOME STATEMENT
Revenue3.6%22,357.023,334.022,707.025,455.025,741.0
Gross Income-4.3%8,287.08,093.06,881.07,503.06,945.0
EBITDA-3.9%10,259.09,294.08,589.09,467.08,757.0
EBIT-5.8%8,261.07,275.06,521.07,226.06,513.0
Net Income-15.4%4,299.03,461.01,842.01,883.02,204.0
EPS (Diluted)-14.9%2.902.391.281.301.52
BALANCE SHEET
Cash & ST Inv-15.8%8,068.08,146.05,966.03,923.04,054.0
Total Assets4.9%48,022.051,093.052,506.054,848.058,167.0
Total Liabilities2.3%25,003.026,222.025,196.026,070.027,401.0
Total Shareholder Equity7.8%13,980.015,555.016,693.017,581.018,899.0
CASH FLOW
Net Operating Cash Flow-7.7%7,715.05,139.05,279.07,160.05,610.0
Cap Ex20.7%-2,115.0-3,469.0-4,824.0-4,808.0-4,494.0
Free Cash Flow-33.2%5,600.01,670.0455.02,352.01,116.0

Enterprise Value Bridge

Millions USD23 Oct '26
Price (As of 23 Oct '26)65.33
Basic Shares1,437.56
Market Cap93,908.6
Diluted Shares1,444.00
Fully Diluted Shares Outstanding1,444.00
Fully Diluted Market Cap94,329.3
+Consolidated Debt10,401.0
−In-the-Money Convertible Debt—
+Capital Leases987.0
+Operating Leases—
−Cash & Equivalents-4,017.0
−Short-term Investments-
+Total Preferred-
−In-the-Money Convertible Preferred—
−Investments in Unconsolidated Subs—
+Non-Controlling Interest12,006.0
+Pension Liabilities—
Enterprise Value112,298.6

Segment data

Revenue

by Products and services

  • Copper Cathode31%
  • Copper In Concentrates24%
  • Refined Copper Products17%
  • Gold15%
  • Molybdenum8%

Revenue

by Geography

  • United States36%
  • Switzerland21%
  • Japan11%
  • Indonesia9%
  • Singapore5%

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MAADEN AB

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ANFGF US

China Molybdenum Co., Ltd.

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Fortescue Metals Group Limited

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Freeport-mcmoran Inc — Company Profile

Freeport-McMoRan Inc. is a prominent mining enterprise conducting extensive operations across North America, South America, and Indonesia. The company primarily focuses on the exploration and extraction of key mineral resources such as copper, gold, molybdenum, and silver, alongside other valuable metals. Additionally, it maintains a significant presence in the oil and gas sector. Its diverse portfolio of assets features the notable Grasberg minerals district in Indonesia; numerous sites in the United States including Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado. In South America, its holdings include Cerro Verde in Peru and El Abra in Chile. Beyond its mineral interests, Freeport-McMoRan operates a collection of oil and gas properties, predominantly situated off the coasts of California and in the Gulf of Mexico, managing approximately 135 wells as of December 31, 2021. Founded in 1987 and headquartered in Phoenix, Arizona, the company adopted its current name, Freeport-McMoRan Inc., in July 2014, having previously operated as Freeport-McMoRan Copper & Gold Inc.

Exchange
UN
CEO
Kathleen L. Quirk
Headquarters
Phoenix, AZ, US
IPO Date
Jul 10, 1995
Employees
29,000
Website
fcx.com

Key Metrics

Price
$72.30
Market Cap
$103.94B
Revenue (TTM)
$0.00
Net Income (TTM)
$0.00
EPS (TTM)
0.00
P/E (TTM)
38.03
P/B (TTM)
5.33
Dividend Yield
0.00%
ROE (TTM)
0.00%
ROA (TTM)
0.00%
Operating Margin
0.00%
Beta
0.00

Dividends

Last Dividend
$0.00
Last Yield
0.00%

Summary

Freeport-McMoRan Inc. is a prominent mining enterprise conducting extensive operations across North America, South America, and Indonesia. The company primarily focuses on the exploration and extraction of key mineral resources such as copper, gold, molybdenum, and silver, alongside other valuable metals. Additionally, it maintains a significant presence in the oil and gas sector. Its diverse portfolio of assets features the notable Grasberg minerals district in Indonesia; numerous sites in the United States including Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado. In South America, its holdings include Cerro Verde in Peru and El Abra in Chile. Beyond its mineral interests, Freeport-McMoRan operates a collection of oil and gas properties, predominantly situated off the coasts of California and in the Gulf of Mexico, managing approximately 135 wells as of December 31, 2021. Founded in 1987 and headquartered in Phoenix, Arizona, the company adopted its current name, Freeport-McMoRan Inc., in July 2014, having previously operated as Freeport-McMoRan Copper & Gold Inc.

Website
fcx.com
Location
Phoenix, AZ, US
Phone602 366 8100
Employees29,000
CEOKathleen L. Quirk
IPO DateJul 10, 1995

Ask AI

Company overview
Business model, segments, and competition.
Peer comparison
Metrics vs closest competitors.
Guidance & outlook
Forward guidance and assumptions.
Bull vs bear case
Upside drivers and key risks.
Valuation snapshot
Multiples vs history and peers.
Competitive moat
Defensibility and market position.
Management track record
Leadership and capital allocation history.
How it makes money
A short diagram of the business model.

Latest Documents

SEC Filings(2.4K)

Expand
  • 8-KResults of Operations and Financial Condition27 Oct
  • 8-K1 Freeport Provides Third-Quarter 2026 Operational Update  Third-quarter 2026 consolidated copper and gold production approximated expectations  Third-quarter 2026 consolidated copper sales expected to approximate July estimates; consolidated gold sales impacted by timing in Indonesia  Mining operations in the Grasberg minerals district proceeding in line with expectations  Operations at PTFI’s smelter re-commenced in late August 2026  Positioned for future growth PHOENIX, AZ, October 2, 2026 - Freeport (NYSE: FCX) today provided an update on its third-quarter 2026 operating results. CONSOLIDATED RESULTS Third-quarter 2026 consolidated copper production of approximately 830 million pounds was in line with expectations, with slightly better results from international operations offsetting slightly lower production in the U.S. Third-quarter 2026 consolidated gold production of approximately 230 thousand ounces approximated expectations. Changes in the timing of gold sales at PT Freeport Indonesia (PTFI) resulted in the deferral of approximately 60 thousand ounces of refined gold from third-quarter 2026 to fourth-quarter 2026. FCX expects its consolidated copper sales for third-quarter 2026 to approximate its July 2026 estimate of 750 million pounds. FCX expects consolidated gold sales for third-quarter 2026 to approximate 100 thousand ounces, which is below its July 2026 estimate reflecting the impact of deferred gold sales. Consolidated unit net cash costs (net of by-product credits and excluding idle facility and restoration costs associated with the phased ramp-up of the Grasberg Block Cave underground mine) for third-quarter 2026 are currently expected to be approximately 5% above the July 2026 estimate of $2.00 per pound of copper, principally reflecting lower by-product credits resulting from the impact of deferred gold sales. FCX estimates its third-quarter 2026 consolidated average realized price to exceed $6.50 per pound of copper. The U.S. operations experienced lower than planned operating rates in third-quarter 2026 associated with an increased frequency of localized flooding, power outages and strong winds. In Indonesia, abnormally dry weather conditions have been generally favorable for mining but present various challenges in the milling process which are being actively managed with limited impact to date.{N4163160.1} 2 GRASBERG UPDATE Significant progress continued for the phased ramp-up of the Grasberg Block Cave underground mine. During third-quarter 2026, mill throughput averaged approximately 140,000 metric tons of ore per day (approximating 67% of normalized rates prior to the September 2025 incident), including approximately 70,000 metric tons of ore per day from the Grasberg Block Cave. Upgrades to the material handling system at the Grasberg Block Cave haulage level are progressing toward completion by early 2027, and preparations continue for the targeted restart of production from Production Block 1S by mid-2027. FCX continues to expect to reach 80% of capacity in mid-2027 and approach full capacity by year-end 2027. PTFI’s smelter in Eastern Java, which was temporarily suspended following the September 2025 Grasberg incident, successfully re-commenced operations in late August 2026. Ramp-up activities are proceeding in line with expectations. A recent video highlighting the operation is available on fcx.com. PTFI has combined smelting capacity, including PT Smelting, to produce up to approximately 800,000 metric tons of cathode per annum and a precious metals refinery capable of processing all of PTFI’s gold production. FUTURE GROWTH FCX is strongly positioned for future growth opportunities with ongoing progress on the Grasberg recovery, innovation-led growth and potential organic brownfield development opportunities. During third-quarter 2026, FCX continued to progress its America’s Copper ChampionTM growth plans, including advancing projects to scale its innovative leach initiative and finalizing work to reach an investment decision by year-end 2026 to double the capacity of its Bagdad operation in Northwest Arizona. In addition, FCX continues to advance the regulatory process for a potential transformative expansion of its El Abra mine in Chile. FCX plans to release its third-quarter 2026 earnings results before the market opens on Tuesday, October 27, 2026, and will hold a conference call to discuss the results at 10:00 a.m. Eastern Time. FREEPORT: Foremost in Copper FCX is a leading international metals company with the objective of being foremost in copper. Headquartered in Phoenix, Arizona, FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is one of the world’s largest publicly traded copper producers. FCX’s portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits; and significant operations in the U.S. and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru. By supplying responsibly produced copper, FCX is proud to be a positive contributor to the world well beyond its operational boundaries. Additional information about FCX is available on FCX's website at fcx.com. Cautionary Statement: This press release contains forward-looking statements in which FCX discusses its potential future performance, operations and projects. Forward-looking statements are all statements other than statements of historical facts, such as plans, projections or expectations relating to business outlook, strategy, goals or targets; restoration and remediation efforts, and phased ramp-up of production and downstream processing following the September 2025 external mud rush incident at PTFI’s Grasberg Block Cave underground mine and the anticipated impact on our business, production, sales, results of operations and operating plans; ore grades and milling rates; production and sales volumes; unit net cash costs; timing of sales of inventoried production; improvements in operating procedures and technology innovations and applications; development and production activities, rates and costs; future organic growth opportunities and investment decisions; and the impact of copper and gold price changes. The words “anticipates,” “may,” “can,” “plans,” “believes,” “estimates,” “expects,” “projects,” "targets," “intends,” “likely,” “will,” “should,” “to be,” “potential" and any similar expressions are intended to identify those assertions as forward-looking statements.{N4163160.1} 3 FCX cautions readers that forward-looking statements are not guarantees of future performance and actual results may differ materially from those anticipated, expected, projected or assumed in the forward-looking statements. Important factors that can cause FCX's actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, supply of and demand for, and prices of the commodities FCX produces, primarily copper and gold; changes in export duties and tariff rates; production rates; timing of shipments and sales; reduced customer demand or capacity; changes in the terms of arrangements or contracts; PTFI’s ability to repair mud rush incident-related damage, implement enhanced operating procedures, safely restart with a phased ramp-up and achieve full operating rates of production and downstream processing on the expected timeline and optimize production plans; changes in mine plans or operational modifications, delays, deferrals or cancellations, including the ability to smelt and refine or inventory production; weather- and climate-related risks; and other factors described in more detail under the heading “Risk Factors” in FCX's Annual Report on Form 10-K for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (SEC). Investors are cautioned that many of the assumptions upon which FCX's forward-looking statements are based are likely to change after the date the forward-looking statements are made, including for example commodity prices, which FCX cannot control, and production volumes and costs, some aspects of which FCX may not be able to control. Further, FCX may make changes to its business plans that could affect its results. FCX undertakes no obligation to update any forward-looking statements, which speak only as of the date made, notwithstanding any changes in its assumptions, changes in business plans, actual experience or other changes. The operational estimates in this press release are subject to further changes upon completion of FCX’s normal quarterly closing process and procedures. # # #2 Oct
  • 4GRANT HUGH1 Oct
  • 4STEPHENS JOHN JOSEPH1 Oct
  • SDSD24 Sep
  • 8-KOther Events8 Sep
  • 4KENNARD LYDIA H28 Aug
  • 144KENNARD LYDIA H27 Aug
  • 4Currault Douglas N. II26 Aug
  • 144Currault Douglas N. II25 Aug
  • 10-QQ2ended 30 Jun 20266 Aug
  • 4Mikes Ellie L.5 Aug
  • 4Higgins Stephen T.5 Aug
  • 144Higgins Stephen T.5 Aug
  • 144Mikes Ellie L.5 Aug
  • 4Higgins Stephen T.3 Aug
  • 144Higgins Stephen T.30 Jul
  • 8-KResults of Operations and Financial Condition23 Jul
  • 4STEPHENS JOHN JOSEPH1 Jul
  • 4GRANT HUGH1 Jul

News

  • Freeport-McMoRan: Grasberg Remains On Schedule, And I Remain At Buy05:05AM
  • BOCHK Asset Management Ltd Acquires 46,500 Shares of Freeport-McMoRan Inc. $FCX04:19AM
  • Freeport-McMoRan Inc. $FCX Holdings Decreased by Bank Julius Baer & Co. Ltd Zurich03:45AM
  • C3 Metals Intersects 64.9 Metres at 3.45% Copper Equivalent, Including 23.3 Metres at 6.64% Copper Equivalent at its Khaleesi Project, Peru - Highest Grade Copper and Gold Mineralization Intersected to Date at Khaleesi2 Nov
  • 75,839 Shares of Freeport-McMoRan Inc. $FCX Purchased by International Assets Investment Management LLC2 Nov
  • Copper Is Priced Like an AI Stock Now. What the Sell-off Means for Freeport-McMoRan.1 Nov
  • Freeport-McMoRan Inc. $FCX Stock: Bokf Na Reduces Holdings31 Oct
  • 5 Non-Ferrous Metal Mining Stocks to Watch in a Challenging Industry30 Oct
  • Freeport-McMoRan Q3: Grasberg Is Coming Back, But The Price Got There First (Rating Downgrade)29 Oct
  • FCX Q3 Earnings Call Highlights Grasberg Recovery and Growth Plans28 Oct
  • What Freeport-McMoRan (FCX) Said on Its Q3 Earnings Call27 Oct
  • Freeport-McMoRan Inc. (FCX) Q3 2026 Earnings Call Transcript27 Oct
  • FCX Q3 Earnings Beat Estimates on Strong Copper Pricing27 Oct
  • Compared to Estimates, Freeport-McMoRan (FCX) Q3 Earnings: A Look at Key Metrics27 Oct
  • Freeport-McMoRan (FCX) Q3 Earnings and Revenues Surpass Estimates27 Oct
  • Freeport beats Q3 earnings expectations despite rising costs and sharp drop in gold sales27 Oct
  • Freeport-McMoRan Inc (FCX) Q3 2026 Earnings Report: EPS at $0.81, Revenue Reaches $7.5 Billion, Exceeding Estimates27 Oct
  • Freeport Third-Quarter and Nine-Month 2026 Financial and Operating Results Release Available on Its Website27 Oct
  • Q3 Peak Season Arrives: Strong Beats, Sky-High AI Scrutiny26 Oct
  • Why Investors Need to Take Advantage of These 2 Basic Materials Stocks Now26 Oct

Mentions in Filings

  • The following is a summary of the terms of the notes offered by the preliminary pricing supplement hyperlinked below. Summary of Terms Issuer: JPMorgan Chase Financial Company LLC Guarantor: JPMorgan Chase & Co. Minimum Denomination: $1,000 Reference Stock: Common stock of Freeport - McMoRan Inc. Pricing Date: November 5, 2026 Final Review Date: November 6, 2028 Maturity Date: November 9, 2028 Review Dates: Quarterly Contingent Interest Rate: At …
    JPMorgan Chase Financial Co. LLCFreeport-mcmoran Inc·FWP - FACT SHEET·Q4 26·2 Nov
  • The following is a summary of the terms of the notes offered by the preliminary pricing supplement hyperlinked below. Summary of Terms Issuer: JPMorgan Chase Financial Company LLC Guarantor: JPMorgan Chase & Co. Minimum Denomination: $1,000 Reference Stock: Common stock of Freeport - McMoRan Inc. Pricing Date: November 5, 2026 Final Review Date: November 6, 2028 Maturity Date: November 9, 2028 Review Dates: Quarterly Contingent Interest Rate: At …
    JPMORGAN CHASE & COFreeport-mcmoran Inc·FWP - FACT SHEET·Q4 26·2 Nov
  • … hucchacua\*, Julcani\*, Tambomayo\*, La Zanja\*, San Gabriel\*, El Brocal and Coimolache). The Company holds a 19.58% ownership interest in Sociedad Minera Cerro Verde, a major Peruvian copper producer, alongside <strong>Freeport-McMoRan Inc.</strong> and Sumitomo Corporation. (\*) Wholly owned operations. For a printed copy of the Company’s 2025 Form 20-F, please contact Investor Relations or download the PDF version from the Company’s website at www.buenaven …
    BUENAVENTURA MINING CO INCFreeport-mcmoran Inc·6-K - Current report (foreign private issuer)·Q4 26·29 Oct
  • … n advantaged asset footprint in the Permian Basin and recently signed a 20-year agreement with ExxonMobil to provide critical infrastructure to support their growing Permian production. In Materials, our position in <strong>Freeport-McMoran</strong> was a source of relative strength. As one of the world’s largest copper miners, the company benefited from steady strength in copper prices, which achieved a 20-year high in September. The company’s continued progres …
    ADAMS NATURAL RESOURCES FUND, INC.Freeport-mcmoran Inc·N-30B-2·Q3 26·21 Oct
  • … ftware integral to the evolution of AI through our holdings in Palo Alto Networks and Snowflake, respectively. In Materials, the Fund generated a 2.6% return compared to the benchmark’s -2.8% return. Our position in <strong>Freeport-McMoran</strong> was a source of relative strength. As one of the world’s largest copper miners, the company benefited from steady strength in copper prices, which achieved a 20-year high in September. The company’s continued progres …
    ADAMS DIVERSIFIED EQUITY FUND, INC.Freeport-mcmoran Inc·N-30B-2·Q3 26·21 Oct
  • … an, Kemess South and Gibraltar, all of which are porphyry copper±gold deposits that are currently producing or were formerly producing mines. Recently, Amarc Resources, an HDI-associated company, with funding from <strong>Freeport-McMoran Inc.</strong>, announced the exciting discovery of the Tier One AuRORA gold-copper porphyry deposit also in British Columbia. Other well-known projects with HDI involvement include Sisson, Duke and Prosperity in Canada, Pebble a …
    QUARTZ MOUNTAIN RESOURCES LTDFreeport-mcmoran Inc·EX-99.1 - 6-K - PRESS RELEASE·Q1 27·19 Oct

Key Stats

Trading

Px/Chg 1D$72.30 / +0.36%
52 Wk H$0.00
52 Wk L$0.00
Avg Volume0.00
Beta0.00
Mkt Cap103.94B

Float

Shrs Out/Float1.44B / 1.43B
Short Float0.00%
Days to Cover0.00
Stock Repurchased$0.00

Current Valuation

EV122.33B
EV/EBITDA12.75
EV/Sales4.63
P/B5.33
P/S3.93
FCF Yield0.50%
ROE0.00%
ROA0.00%
Current Ratio0.00

Estimates

P/E38.03
Est P/EN/A
Est EPSN/A
Est PEGN/A

Valuation

Metric5Yr AvgMay '23May '24May '25May '26Oct '26
PRICE-BASED RATIOS
Price / Earnings83.3915.1340.0128.41215.42117.97
Price / Sales7.962.243.252.1015.5316.67
Price / Book Value4.163.374.413.044.635.33
Price / Free Cash Flow93.0331.35161.9622.7450.01199.11
ENTERPRISE VALUE METRICS
Enterprise Value90,724.964,473.588,844.370,505.9107,475.2122,325.6
Enterprise Value / Sales9.632.763.912.7719.0819.62
Enterprise Value / EBITDA32.986.9410.347.4594.1945.95
Enterprise Value / EBIT50.618.8613.629.76163.8356.95

Financials

Full Financials
Millions USD5Yr CAGR (%)Dec '21Dec '22Dec '23Dec '24Dec '25
INCOME STATEMENT
Revenue3.6%22,357.023,334.022,707.025,455.025,741.0
Gross Income-4.3%8,287.08,093.06,881.07,503.06,945.0
EBITDA-3.9%10,259.09,294.08,589.09,467.08,757.0
EBIT-5.8%8,261.07,275.06,521.07,226.06,513.0
Net Income-15.4%4,299.03,461.01,842.01,883.02,204.0
EPS (Diluted)-14.9%2.902.391.281.301.52
BALANCE SHEET
Cash & ST Inv-15.8%8,068.08,146.05,966.03,923.04,054.0
Total Assets4.9%48,022.051,093.052,506.054,848.058,167.0
Total Liabilities2.3%25,003.026,222.025,196.026,070.027,401.0
Total Shareholder Equity7.8%13,980.015,555.016,693.017,581.018,899.0
CASH FLOW
Net Operating Cash Flow-7.7%7,715.05,139.05,279.07,160.05,610.0
Cap Ex20.7%-2,115.0-3,469.0-4,824.0-4,808.0-4,494.0
Free Cash Flow-33.2%5,600.01,670.0455.02,352.01,116.0

Enterprise Value Bridge

Millions USD23 Oct '26
Price (As of 23 Oct '26)65.33
Basic Shares1,437.56
Market Cap93,908.6
Diluted Shares1,444.00
Fully Diluted Shares Outstanding1,444.00
Fully Diluted Market Cap94,329.3
+Consolidated Debt10,401.0
−In-the-Money Convertible Debt—
+Capital Leases987.0
+Operating Leases—
−Cash & Equivalents-4,017.0
−Short-term Investments-
+Total Preferred-
−In-the-Money Convertible Preferred—
−Investments in Unconsolidated Subs—
+Non-Controlling Interest12,006.0
+Pension Liabilities—
Enterprise Value112,298.6

Segment data

Revenue

by Products and services

  • Copper Cathode31%
  • Copper In Concentrates24%
  • Refined Copper Products17%
  • Gold15%
  • Molybdenum8%

Revenue

by Geography

  • United States36%
  • Switzerland21%
  • Japan11%
  • Indonesia9%
  • Singapore5%

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