Freeport-McMoRan (NYSE:FCX) Shares Gap Down – Here’s Why

Freeport-McMoRan Inc. (NYSE:FCX)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $76.23, but opened at $70.25. Freeport-McMoRan shares last traded at $70.3370, with a volume of 6,649,208 shares.

Freeport-McMoRan News Summary

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

• Positive Sentiment: Freeport-McMoRan CEO highlighted copper’s strategic importance for future economic growth, supporting the long-term demand case for the company’s primary commodity. Copper is very important commodity as we look toward the future, says Freeport-McMoRan CEO
• Positive Sentiment: Goldman Sachs described FCX as attractively valued following the recent decline and ongoing uncertainty around White House copper-tariff policy, potentially limiting downside if copper fundamentals remain strong. Freeport-McMoRan attractively valued after White House copper tariff uncertainty, Goldman says
• Neutral Sentiment: FCX has gained about 20% over six months, supported by higher copper prices and strong earnings, but analysts point to rising costs and weaker production volumes as risks to near-term results. FCX’s Shares Up 20% in 6 Months: What Should Investors Do Now?
• Neutral Sentiment: At the Jefferies Global Industrials Conference, management’s remarks provided investors with additional commentary on the company’s operations and copper-market outlook. Freeport-McMoRan Inc. Presents at Jefferies Global Industrials Conference 2026
• Negative Sentiment: Copper-mining shares sold off sharply as doubts about possible U.S. tariffs prompted a reversal in copper’s record rally. Because copper prices directly influence FCX’s revenue and cash flow, the uncertainty was a key catalyst for the stock’s decline. Freeport-McMoRan Stock Drops on Copper Tariff Uncertainty
• Negative Sentiment: Erste Group Bank made a modest reduction to its FY2027 EPS forecast, from $4.01 to $4.00, although it maintained a Buy rating. The small estimate cut signals limited near-term impact but reflects some caution. Freeport-McMoRan analyst estimate update

Analyst Ratings Changes

FCX has been the topic of a number of recent analyst reports. Citigroup reaffirmed a “positive” rating on shares of Freeport-McMoRan in a research report on Wednesday, July 15th. Jefferies Financial Group upped their price objective on shares of Freeport-McMoRan from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Wells Fargo & Company raised their price objective on Freeport-McMoRan from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Royal Bank Of Canada lifted their target price on Freeport-McMoRan from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Friday, July 24th. Finally, HSBC boosted their target price on Freeport-McMoRan from $72.00 to $75.00 in a report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.75.

Freeport-McMoRan Stock Performance

The stock has a market cap of $102.07 billion, a PE ratio of 35.01, a P/E/G ratio of 0.70 and a beta of 1.41. The firm’s 50-day moving average is $67.62 and its 200 day moving average is $64.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 2.07.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.12. The company had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $6.62 billion. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. Freeport-McMoRan’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.54 EPS. As a group, research analysts anticipate that Freeport-McMoRan Inc. will post 2.81 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Wednesday, July 15th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, July 15th. Freeport-McMoRan’s payout ratio is 14.78%.

Insider Buying and Selling

In other Freeport-McMoRan news, CAO Ellie Mikes sold 4,773 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $70.00, for a total transaction of $334,110.00. Following the completion of the sale, the chief accounting officer directly owned 36,000 shares of the company’s stock, valued at $2,520,000. This represents a 11.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Stephen Higgins sold 14,277 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $69.50, for a total value of $992,251.50. Following the sale, the chief accounting officer directly owned 54,618 shares of the company’s stock, valued at $3,795,951. The trade was a 20.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 110,398 shares of company stock valued at $8,387,271 in the last quarter. 0.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Freeport-McMoRan

Hedge funds and other institutional investors have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Freeport-McMoRan in the 4th quarter worth $25,000. NBH Bank acquired a new position in shares of Freeport-McMoRan during the second quarter worth about $28,000. Steph & Co. raised its holdings in Freeport-McMoRan by 43.7% during the first quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock worth $29,000 after purchasing an additional 150 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in Freeport-McMoRan during the first quarter worth about $29,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in Freeport-McMoRan in the fourth quarter valued at about $29,000. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a global mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Copper is its principal product and is used in electrical wiring, construction, transportation, industrial equipment and renewable-energy technologies. The company also produces gold as a byproduct of its copper operations and molybdenum, an alloying metal used in steelmaking and other industrial applications.

Freeport-McMoRan operates major mining and processing assets in North America, South America and Indonesia.