Freeport-McMoRan (NYSE:FCX) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Key Points

• Freeport-McMoRan beat quarterly expectations, reporting EPS of $0.74 versus the $0.60 consensus estimate. Revenue also came in above forecasts at $7.03 billion, though it was still down 7.3% year over year.
• The stock fell 2.8% on the day despite the earnings beat, trading at $63.15 as investors weighed broader market and commodity pressures.
• Analyst sentiment remains favorable, with multiple firms reiterating or upgrading to Buy and raising price targets, including Jefferies at $85 and Bank of America at $80.

Freeport-McMoRan (NYSE:FCX - Get Free Report) announced its earnings results on Thursday. The natural resource company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.14, FiscalAI reports. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The business had revenue of $7.03 billion during the quarter, compared to analysts' expectations of $6.71 billion. During the same period in the prior year, the company earned $0.54 earnings per share. The firm's revenue was down 7.3% on a year-over-year basis.

Freeport-McMoRan Stock Down 2.8%

FCX traded down $1.85 during trading on Thursday, reaching $63.15. The company had a trading volume of 2,624,610 shares, compared to its average volume of 17,501,869. The company has a market cap of $90.79 billion, a P/E ratio of 34.07, a PEG ratio of 0.63 and a beta of 1.37. The business's fifty day moving average price is $63.64 and its 200 day moving average price is $62.25. Freeport-McMoRan has a 12 month low of $35.15 and a 12 month high of $72.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. Freeport-McMoRan's dividend payout ratio is 15.96%.

Analyst Ratings Changes

FCX has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Freeport-McMoRan in a research note on Friday, May 15th. Wall Street Zen raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. Citigroup reiterated a "positive" rating on shares of Freeport-McMoRan in a research note on Wednesday, July 15th. Jefferies Financial Group lifted their price target on shares of Freeport-McMoRan from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 8th. Finally, Bank of America increased their target price on Freeport-McMoRan from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $68.95.

Freeport-McMoRan News Summary

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

• Positive Sentiment: Freeport-McMoRan reported Q2 EPS of $0.74, beating analyst estimates of $0.60, while revenue of $7.03 billion also topped expectations; the results were helped by rising copper prices. Freeport-McMoRan Earnings Beat Estimates on Rising Copper Prices
• Positive Sentiment: Stifel Nicolaus raised its price target on FCX to $80 from $76 and reiterated a Buy rating, signaling analyst confidence after the earnings release. Stifel Nicolaus Raises Freeport-McMoRan Price Target to $80.00
• Positive Sentiment: Several pre-earnings notes suggested FCX could benefit from firmer copper prices and a broader mining-sector earnings beat driven by stronger commodity pricing. Watch These 3 Copper Stocks Amid Massive Global AI Data Center Boom
• Neutral Sentiment: Freeport also posted its second-quarter and six-month 2026 financial and operating results on its investor relations website, a routine disclosure that typically confirms the earnings details already reported. Freeport Second-Quarter and Six-Month 2026 Financial and Operating Results Release Available on Its Website
• Neutral Sentiment: Commentary ahead of the report noted that higher copper prices were being offset by lower volumes and higher costs, which may limit how much the earnings beat helps the stock. FCX to Report Q2 Earnings: What's in the Offing for the Stock?
• Negative Sentiment: Recent commentary noted copper futures pulled back sharply from recent highs, which can weigh on FCX because its earnings are highly sensitive to copper pricing. Copper's Biggest Intraday Drop in 2026: 5 Stocks Most at Risk Today

Institutional Investors Weigh In On Freeport-McMoRan

A number of large investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. increased its stake in shares of Freeport-McMoRan by 9.2% during the fourth quarter. Sunbelt Securities Inc. now owns 10,807 shares of the natural resource company's stock worth $549,000 after purchasing an additional 913 shares during the period. Cambient Family Office LLC bought a new stake in Freeport-McMoRan in the 4th quarter valued at about $205,000. Compound Planning Inc. lifted its position in shares of Freeport-McMoRan by 5.2% during the 4th quarter. Compound Planning Inc. now owns 53,351 shares of the natural resource company's stock valued at $2,710,000 after acquiring an additional 2,639 shares during the period. Invesco Ltd. grew its holdings in shares of Freeport-McMoRan by 6.8% during the 4th quarter. Invesco Ltd. now owns 9,684,194 shares of the natural resource company's stock valued at $491,860,000 after purchasing an additional 614,560 shares during the last quarter. Finally, Axxcess Wealth Management LLC grew its holdings in Freeport-McMoRan by 29.6% during the 4th quarter. Axxcess Wealth Management LLC now owns 25,537 shares of the natural resource company's stock worth $1,297,000 after acquiring an additional 5,836 shares during the last quarter. Institutional investors own 80.77% of the company's stock.

About Freeport-McMoRan

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.

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