FCX
Freeport-McMoRan
September 14, 2026 · pre-market open
- Rarity
- 1.06
- Peak move
- −5.77%
- Float cap
- $101.4B
Freeport-McMoRan is an international mining company centered on copper, operating large open-pit mines and processing facilities in Arizona, New Mexico, Peru, Chile and Indonesia. Its Grasberg minerals district in Indonesia also yields significant gold and silver, while Colorado operations produce molybdenum. The company sells copper concentrate, refined cathode and copper rod to construction, electrical, manufacturing and automotive customers worldwide.
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What we found
13 events · 0 from SEC or newswire · 0 timed with the movenotable_investor_commentKevin Simpson, founder and CEO of Capital Wealth Planning, picked Freeport-McMoRan on CNBC's "Halftime Report Final Trades," citing the recent pullback in copper.
- Key event
analyst_ratingMorgan Stanley cut its Freeport-McMoRan price target to $40 from $48, saying the September 8 Grasberg Block Cave mudflow will cut 2026 copper supply by ~600 million lb, or 1.2% of mined supply, and lowered its 2026 EPS estimate 18% to $2.46.
analyst_ratingAnalysts at Jefferies said they expect copper futures to rise above $5 per pound after the metal rose 3.8% to $4.82/lb.
- Key event
commodity_eventCopper prices fell sharply after reports the White House had not decided on refined copper tariffs, with LME three-month copper down 3.1% to $14,312/tonne after touching a record $14,875 and Comex December copper falling as much as 5.4% from a record settlement.
- Key event
commodity_eventThe proposed US copper tariff on copper cathodes was expected to begin phasing in during 2027, but roughly 200,000 tons of refined copper flowed into the US in July, the largest monthly inflow on record, pushing Comex inventories above 1 million tons as buyers raced to beat a possible January duty.
notable_investor_commentAnalyst Andrew Hecht named Freeport-McMoRan and Southern Copper as the two purest copper-price-levered miners, saying copper's bull market since 2001 remains intact and the recent pullback is normal.
commodity_eventCOMEX copper rose 0.5% but stalled below its 12-day moving average at $6.65/lb, closing at $6.56/lb on Sept 11, while imported copper concentrate indices fell to about negative $182 per dry tonne.
executive_remarkFreeport-McMoRan is preparing its ~$4.5-4.55 billion Bagdad copper mine expansion in Arizona, about 30% above the prior $3.5 billion estimate, for board consideration; the project could add 200-250 million lb of copper annually.
executive_remarkAt the Jefferies Global Industrials Conference, Freeport-McMoRan CEO Kathleen Quirk outlined plans to lift leaching output from about 200 million to 800 million pounds per year, said the Bagdad expansion is being prepared for board consideration, and noted a new Indonesian copper smelter started up.
policy_changeCopper miners fell broadly on Sept 10-11 as US Treasury yields rose and the White House had not decided on proposed copper cathode tariffs, with Freeport-McMoRan dropping 8.2% on Sept 10 and 6.7% on Sept 11 as the Global X Copper Miners ETF fell 7%.
policy_changeThe White House remains undecided on proposed tariffs on refined copper cathodes, a measure planned to phase in from 2027 that Freeport-McMoRan management had said would benefit its US operations.
commodity_eventLME three-month copper hit a record near US$14,700 a ton, capping its longest weekly winning streak since 1994, as global mine output fell 1.1% in H1 2026 and inventory drained, with Freeport's Grasberg complex still running below half of normal capacity after the Sept 2025 mudflow.
commodity_eventCopper concentrate treatment charges collapsed to historic lows with the annual benchmark settling effectively at zero, as smelting capacity expanded far faster than mine feed and the Grasberg disruption removed a large volume of concentrate from the market.