FCX
Freeport-McMoRan shares slip despite second quarter earnings beat as copper outlook softens
Article Summary
BUY- Freeport-McMoRan Inc. (NYSE: FCX, XETRA:FPMB) reported stronger-than-expected second quarter 2026 results with earnings and revenue topping Wall Street expectations, although shares edged about 2% lower as investors weighed slightly reduced near-term copper sales outlook.
- Freeport-McMoRan reported adjusted earnings per share of $0.74 ahead of analyst estimates of $ 0.62, while revenue came in at $7.03 billion exceeding consensus expectations of $6.71 billion, with production reaching 786 million pounds of copper, 192,000 ounces of gold and 23 million tonnes of molybdenum during the quarter.
- Jefferies reiterated its 'Buy' rating on Freeport following the results, noting second-quarter EBITDA came in 12% above consensus estimates supported by higher copper sales and lower unit net cash costs.
- Full-year copper sales guidance remained unchanged at approximately 3.1 billion pounds but lowered third-quarter sales outlook to 750 million pounds.
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Growth Stock Scoring Breakdown
| METRIC | VALUE | WEIGHT | ANALYSIS |
|---|---|---|---|
| Sales Growth TTM ? | 5.4% | 25% | 35.0 ptsBelow Screener (5.4%) - Weak growth |
| EPS Growth Next 5Y ? | 36.0% | 25% | 90.0 ptsExcellent (36.0%) - Strong outlook |
| Target Price Upside ? | 15.1% | 20% | 60.0 ptsModerate Upside (15.1%) - Target: $73.06 vs Current: $63.50 |
| Gross Margin % ? | 25.8% | 15% | 40.0 ptsModerate (25.8%) - Adequate margins |
| Drawdown from 52-Wk High ? | -12.0% | 15% | 40.0 ptsMild Pullback (-12.0%) - Light entry opportunity |
Disclaimer: This rating is for informational purposes only and is not financial advice.
All data sourced from Finviz.
Always conduct your own research and consult with a financial advisor before making investment decisions.
Past performance does not guarantee future results.
About FCX
- Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia.
- The company primarily explores for copper, gold, molybdenum, silver, and other metals.
- Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.
- The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014.
- The company was incorporated in 1987 and is headquartered in Phoenix, Arizona.