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Freeport-McMoRan ( (FCX) ) has issued an update.
Freeport-McMoRan reported that in the second quarter of 2026 it generated net income attributable to common stock of $984 million, or $0.68 per share, with adjusted net income of $1.1 billion, or $0.74 per share, on revenues of $7.03 billion. The miner delivered strong operational execution, with consolidated copper production of 786 million pounds and sales of 710 million pounds, average copper prices of $6.17 per pound, unit net cash costs of $1.97 per pound, and robust operating cash flows of $2.0 billion.
Management highlighted steady progress ramping up the Grasberg Block Cave underground mine and strong performance from its Americas operations, contributing to improved year-on-year profitability and margins. Freeport increased its stake in Peru’s Cerro Verde mine, continued share repurchases, and advanced organic copper growth projects in the U.S. and Chile, underscoring its strategy to expand low-cost copper supply, strengthen its balance sheet and support long-term value creation for shareholders as demand for copper grows.
The most recent analyst rating on (FCX) stock is a Buy
with a $80.00 price target.
To see the full list of analyst forecasts on Freeport-McMoRan stock,
see the FCX Stock Forecast page.
Spark’s Take on FCX Stock
According to Spark, TipRanks’ AI Analyst, FCX is a Neutral.
The score is driven primarily by solid underlying financial performance (profitability, cash generation, and manageable leverage) but moderated by cyclical variability. Near-term operational/cost headwinds from the earnings call (Grasberg ramp timing and higher unit costs) and a demanding valuation (high P/E with low yield) further cap the score, while technicals indicate a supported but not strongly bullish momentum backdrop.
To see Spark’s full report on FCX stock,
click here.
More about Freeport-McMoRan
Freeport-McMoRan is a U.S.-based mining company and one of the world’s largest producers of copper, with additional output of gold and molybdenum. The company operates large-scale, geographically diverse mines, including its flagship Grasberg operation in Indonesia and significant assets across the Americas, positioning it as a key supplier to the global copper market and what it calls “America’s Copper Champion.”
Average Trading Volume: 14,557,845
Technical Sentiment Signal: Strong Buy
Current Market Cap: $89.93B
See more data about FCX stock on TipRanks’ Stock Analysis page.