Freeport-McMoRan Inc. (FCX) AI Stock Analysis

Freeport-McMoRan Inc. is engaged in the mining and production of mineral properties across North America, South America, and Indonesia. The company focuses on extracting copper, gold, molybdenum, silver, and other metals, along with oil and gas. Key mining assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; Henderson and Climax in Colorado; Cerro Verde in Peru; and El Abra in Chile. Freeport-McMoRan also maintains a portfolio of oil and gas properties, primarily located offshore in California and the Gulf of Mexico, operating roughly 135 wells as of December 31, 2021.

Freeport-McMoRan grew revenue from $22.36B in FY2021 to $25.74B in FY2025, posting a 5-year revenue CAGR of 13.2% from FY2020 to FY2025. Net income was $2.20B in FY2025, recovering from $1.88B in FY2024 and $1.84B in FY2023, though below the $4.30B reported in FY2021. Gross margin narrowed from 37.1% in FY2021 to 27.0% in FY2025, while operating margin was 24.4% in FY2025. Over the trailing twelve months, revenue reached $25.87B with a 33.4% operating margin. In the quarter ended June 30, 2026, quarterly revenue fell 7.3% year-over-year, while quarterly earnings grew 28.1%.

As of June 30, 2026, Freeport-McMoRan held $4.08B in cash and short-term investments against total debt of $10.36B, leaving net debt at $6.28B. Liquidity is supported by a current ratio of 2.07 and a debt-to-equity ratio of 0.52 on shareholders' equity of $20.11B. In FY2025, the company generated $5.61B in operating cash flow and $1.12B in free cash flow. Cash deployment in FY2025 included $4.49B in capital expenditures, $865.0M in dividends paid, and $107.0M in share buybacks.

FCX trades at a trailing P/E of 34.3x and a forward P/E of 18.1x, compared to medians of 30.9x and 13.6x, respectively, for the median of its S&P 500 Basic Materials peers. Its enterprise value stands at $110.51B, yielding an EV/EBITDA of 12.0x, which sits below the peer median of 14.9x. The stock has a price-to-sales multiple of 3.9x compared to the peer median of 2.4x. Over the past year, FCX returned 68.3%, outperforming the 16.8% return of the S&P 500 (SPY), and has gained 92.8% over the past five years.

Freeport-McMoRan pays a forward annual dividend of $0.60 per share, which equates to a 0.86% dividend yield. The payout ratio stands at 26.3%, and the company has paid dividends for 9 consecutive years. Dividend distributions grow at an annualized 5-year rate of 64.4%, and its most recent ex-dividend date was October 15, 2026.

Wall Street sentiment shows 12 Strong Buy, 6 Buy, 4 Hold, 0 Sell, and 1 Strong Sell ratings. The mean price target is $79.07, representing 13.7% upside relative to the last close of $69.54. Analysts estimate full-year FY2026 EPS of $3.19 (up 80.5%) on revenue of $30.12B, and FY2027 EPS of $4.33 on revenue of $36.48B. The company beat EPS expectations in all 4 of the last 4 quarters, with next earnings scheduled for October 27, 2026.

This page is an AI-written research summary of Freeport-McMoRan Inc. (FCX). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: FCX income statement, FCX balance sheet, FCX key metrics, FCX analyst forecast, FCX chart. See the FCX stock overview for the latest quote and news.