Freeport-McMoRan (NYSE:FCX) Issues Earnings Results, Beats Estimates By $0.10 EPS

Freeport-McMoRan (NYSE:FCX) released its earnings results on Thursday. The natural resource company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10, Briefing.com reports. The business had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $6.40 billion. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 earnings per share.

Here are the key takeaways from Freeport-McMoRan’s conference call:

• Freeport disclosed a material handling bottleneck at Grasberg after restart — higher-than-expected wet drawpoints limit output to ~60,000 t/d in H2 2026 (vs prior 100,000 t/d target) and delays full throughput to ~90,000 t/d by mid‑2027, trimming ~9% copper and ~7% gold from the five‑year Grasberg profile.
• Management says there is a defined engineering fix (chute flow regulators or “spillmanators”), modest incremental CapEx (~$60–$70M), and a $700M insurance recovery expected in Q2, and frames the issue as a timing problem (not lost resource), giving confidence production can be fully restored.
• Company revised its full‑year net unit cost outlook to about $1.95 per lb (from $1.75) after incorporating lower Grasberg volumes and recent fuel/consumable cost inflation (diesel volatility and higher acid prices).
• Freeport highlighted its innovative leach program and other U.S. growth options — aiming for 300–400M lb p.a. in 2026–27 with a path to ~800M lb by 2030 via additives + heat, and potential to materially raise U.S. production and margins.
• The macro backdrop remains supportive with copper averaging >$5.80/lb YTD and management noting high price leverage (roughly $400M of annual EBITDA per $0.10/lb move), underlining strong cash‑flow potential if prices persist.

Freeport-McMoRan Trading Down 0.5%

Shares of Freeport-McMoRan stock traded down $0.29 during trading on Friday, reaching $61.19. 3,244,770 shares of the stock were exchanged, compared to its average volume of 19,804,770. The company has a quick ratio of 1.05, a current ratio of 2.29 and a debt-to-equity ratio of 0.29. The stock’s fifty day moving average is $62.50 and its 200 day moving average is $53.64. The firm has a market cap of $87.94 billion, a price-to-earnings ratio of 40.33, a price-to-earnings-growth ratio of 0.81 and a beta of 1.48. Freeport-McMoRan has a 1 year low of $34.45 and a 1 year high of $70.96.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, April 15th. Freeport-McMoRan’s dividend payout ratio is currently 19.87%.

Insider Activity at Freeport-McMoRan

In other news, Chairman Richard C. Adkerson sold 152,960 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $64.65, for a total transaction of $9,888,864.00. Following the completion of the sale, the chairman directly owned 3,356,159 shares in the company, valued at approximately $216,975,679.35. This represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Ellie L. Mikes sold 11,000 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $62.03, for a total transaction of $682,330.00. Following the sale, the chief accounting officer owned 40,773 shares of the company’s stock, valued at approximately $2,529,149.19. This represents a 21.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 565,145 shares of company stock valued at $35,839,918 in the last quarter. 0.75% of the stock is currently owned by company insiders.

Institutional Trading of Freeport-McMoRan

A number of institutional investors have recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new stake in Freeport-McMoRan in the fourth quarter worth about $29,000. JPL Wealth Management LLC purchased a new stake in Freeport-McMoRan in the third quarter worth about $33,000. Acumen Wealth Advisors LLC purchased a new stake in Freeport-McMoRan in the fourth quarter worth about $48,000. Galaxy Group Investments LLC purchased a new stake in Freeport-McMoRan in the fourth quarter worth about $51,000. Finally, Sfam LLC purchased a new stake in Freeport-McMoRan in the fourth quarter worth about $52,000. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. HSBC increased their target price on Freeport-McMoRan from $69.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Jefferies Financial Group set a $75.00 price objective on Freeport-McMoRan in a research note on Thursday. Sanford C. Bernstein reduced their price objective on Freeport-McMoRan from $54.00 to $53.50 and set a “market perform” rating on the stock in a research note on Friday. CICC Research raised their price objective on Freeport-McMoRan from $50.40 to $64.40 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, BNP Paribas Exane raised their price objective on Freeport-McMoRan from $56.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $65.66.

Freeport-McMoRan News Roundup

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

• Positive Sentiment: Q1 EPS and revenue beat estimates (EPS $0.57 vs. ~$0.47 consensus) driven by higher copper, gold and molybdenum prices, supporting near-term profitability. Article Title
• Positive Sentiment: Commodity tailwinds: rising copper prices were a key driver of the beat and underpin medium-term cash flow expectations for FCX. Article Title
• Positive Sentiment: Upgraded analyst views and higher price targets ahead of the quarter (e.g., Deutsche Bank raised its target), supporting longer-term bullish thesis. Article Title
• Neutral Sentiment: Company released Q1 presentation, press release and full earnings call transcript — useful for modeling but not market-moving by itself. Article Title
• Neutral Sentiment: Full earnings call transcripts are available for deeper read on management commentary and timeline for Grasberg ramp. Article Title
• Negative Sentiment: Company cut 2026 (and 2027) copper sales volume by ~300 million pounds due to a slower-than-expected ramp at Grasberg after last year’s fatal mud rush — this materially reduces near-term supply and revenue outlook. Article Title
• Negative Sentiment: Market reaction: shares plunged (~10% intraday reported) after the production downgrade despite the earnings beat — the production miss dominates near-term valuation. Article Title
• Negative Sentiment: Analyst downward revisions: some firms (e.g., Scotiabank) trimmed earnings estimates following the weaker output outlook, adding pressure to near-term sentiment and target-price revisions. Article Title

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.