Freeport-McMoRan
Mines copper across the Americas and Indonesia, with integrated processing and by-product gold.
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Profile
Mines copper across the United States, South America and Indonesia, with gold and molybdenum as additional products, and sells copper as concentrate, cathode and rod. Morenci, Cerro Verde and Grasberg anchor an integrated portfolio whose output depends on ore grades, metals prices, permits and Indonesian operating rights.
Extracts copper, gold and molybdenum from large mines in the United States, South America and Indonesia, selling copper as concentrate, cathode and rod. Core operations include Morenci, Cerro Verde, El Abra and the underground Grasberg minerals district; smelting and refining extend to the United States, Indonesia and Atlantic Copper in Spain.
Scale comes from long-lived ore bodies paired with concentrators, leaching systems, smelters, refineries and rod mills. Gold is principally a Grasberg by-product, while molybdenum comes from Colorado mines and selected copper operations.
Results depend on ore grades, copper prices, safe underground and open-pit execution, environmental permits and operating rights. Grasberg is managed through minority-owned PT Freeport Indonesia, making Indonesian licensing, government arrangements and downstream processing central structural dependencies.
Company facts
Key statistics
Year to date +47.2% · Average volume (30d) 14.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Jul 27, 2026 | Barclays | Reiterate | Overweight | $80 | $82 |
| Jul 24, 2026 | RBC Capital | Reiterate | Sector Perform | $48 | $73 |
| Jul 24, 2026 | Wells Fargo | Reiterate | Overweight | $77 | $70 |
| Jul 23, 2026 | BMO Capital | Reiterate | Outperform | $47 | $78 |
| Jul 15, 2026 | Barclays | Reiterate | Overweight | $77 | $80 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 22, 2026Q2 FY26 | $0.60 | $0.68 | +13.3% | $6.62B | $7.03B | +6.2% | −2.31% |
| Apr 23, 2026Q1 FY26 | $0.47 | $0.57 | +22.2% | $5.73B | $6.23B | +8.8% | −0.70% |
| Jan 22, 2026Q4 FY25 | $0.29 | $0.47 | +64.8% | $5.29B | $5.63B | +6.4% | +2.65% |
| Oct 23, 2025Q3 FY25 | $0.42 | $0.50 | +18.7% | $6.71B | $6.97B | +3.9% | +0.34% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $5.55B | $7.58B | $6.97B | $5.63B | $6.23B | $7.03B | |
| Gross profit | $1.26B | $2.59B | $2.09B | $1.02B | $1.66B | $2.19B | |
| Operating income | $1.09B | $2.43B | $1.96B | $811.0M | $2.14B | $2.00B | |
| Net income | $346.0M | $772.0M | $674.0M | $406.0M | $881.0M | $984.0M | |
| Diluted EPS | $0.24 | $0.53 | $0.47 | $0.28 | $0.61 | $0.68 | |
| Gross margin | 22.6% | 34.1% | 29.9% | 18.1% | 26.5% | 31.1% | |
| Operating margin | 19.6% | 32.1% | 28.1% | 14.4% | 34.3% | 28.5% |
Fiscal years (4-quarter sums)FY21 $22.36B · FY22 $23.35B · FY23 $22.71B · FY24 $25.14B · FY25 $25.74B
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $4.08B · Total debt $10.36B · Total assets $59.73B · Shareholders' equity $20.11B
Dividends
Raised for 3 straight years — most recently to $0.15 from $0.075 in Jul 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 15, 2026 | Jul 15 | Aug 3 | $0.15 | raised from $0.075 |
| Apr 15, 2026 | Apr 15 | May 1 | $0.15 | special dividend |
| Jan 15, 2026 | Jan 15 | Feb 2 | $0.15 | special dividend |
| Oct 15, 2025 | Oct 15 | Nov 3 | $0.15 | special dividend |
| Jul 15, 2025 | Jul 15 | Aug 1 | $0.15 | special dividend |
| Apr 15, 2025 | Apr 15 | May 1 | $0.15 | special dividend |
| Jan 15, 2025 | Jan 15 | Feb 3 | $0.15 | special dividend |
| Oct 15, 2024 | Oct 15 | Nov 1 | $0.15 | special dividend |
Ownership
Shares outstanding 1.44B · Float 1.43B · 99.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 121.95M | 8.48% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 93.91M | 6.53% | 13F | Aug 13, 2026 |
| Fisher Asset Management, LLC | 66.92M | 4.66% | 13F | Aug 4, 2026 |
| State Street Corp | 66.49M | 4.62% | 13F | Aug 7, 2026 |
| Capital Research Global Investors | 41.50M | 2.89% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 27, 2026 | Lydia H. Kennard | director | −3,798 | $79.11 |
| Aug 25, 2026 | Douglas N. II Currault | officer: EVP & General Counsel | −80,000 | $78.56 |
| Aug 5, 2026 | Stephen T. Higgins | officer: EVP & CAO | −14,277 | $69.50 |
| Aug 5, 2026 | Ellie L. Mikes | officer: Chief Accounting Officer | −4,773 | $70.00 |
| Jul 30, 2026 | Stephen T. Higgins | officer: EVP & CAO | −7,550 | $63.00 |
Peers
- BHP (ADR)
Scale rival in copper; Escondida is the world's largest copper mine by output.
- Southern Copper
Pure-play Americas copper rival with the world's largest stated copper reserves.
- Teck
Canada copper miner; record 446 kt in 2024; merging with Anglo American.
- Vale (ADR)
Iron ore giant with a growing copper segment via Salobo and Sossego.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Freeport-McMoRan | $76.29 | −0.20% | $109.92B | 37.5 | 21.6 | 4.2 | −7.3% |
| BHP (ADR) | $94.75 | −0.42% | $241.71B | 24.5 | — | 4.2 | +19.9% |
| Southern Copper | $212.73 | +1.39% | $175.04B | 30.7 | 29.6 | 11.1 | +40.6% |
| Teck | $69.57 | +0.33% | $33.49B | 19.0 | 21.0 | 3.3 | +70.8% |
| Vale (ADR) | $15.10 | +0.40% | $64.10B | 31.3 | 8.3 | 1.6 | +19.2% |
| Median | 27.6 | 21.0 | 3.7 | +30.3% |