Freeport-McMoRan Inc. (FCX) is a major global mining company that extracts copper, gold, and molybdenum. It operates extensive mining assets, including seven open-pit copper mines and two molybdenum mines in North America, as well as significant international operations such as the Grasberg mine in Indonesia.

The company manages large-scale, long-lasting deposits with advanced processing facilities. Its headquarters are located in Phoenix, Arizona, serving as the central base for its worldwide mining activities and operations management. The company has a market capitalization of $58.57 billion, which classifies it as a “large-cap” stock. 

Freeport’s stock had reached a 52-week high of $49.12 on July 8, but it is down almost 17% from that level. Cautious market sentiments have led to the stock declining by 5.8% over the past three months. This was also driven by a tragic mud-rush incident at the Grasberg Block Cave mine (GBC) in Indonesia, which caused loss of lives. On the other hand, the broader Nasdaq Composite ($NASX) index gained 6.2% in the same period. 

Over the longer term, this underperformance persists. Over the past 52 weeks, Freeport’s stock dropped by 6.7%, while it is up 4.5% over the past six months. On the other hand, the Nasdaq Composite gained 19% and 19.7% over the same periods, respectively. The stock has been hovering near its 50-day and 200-day moving averages. 

On Oct. 23, Freeport reported its third-quarter results for fiscal 2025. The company’s revenues increased 2.7% year-over-year (YOY) to $6.97 billion, exceeding the $6.54 billion that Wall Street analysts had expected. Its bottom line also increased with the topline rise. 

Its EPS for the quarter was $0.46, up 27.8% annually, while adjusted EPS rose 31.6% YOY to $0.50. The figure was higher than the $0.41 that Street analysts had expected. Freeport’s stock rose 1.1% intraday on Oct. 23. However, the company’s solid results were overshadowed by the incident at the GCB mine in September. 

We compare Freeport’s performance with that of copper miner Southern Copper Corporation (SCCO), which has climbed 27.1% over the past 52 weeks and gained 37.3% over the past six months. Therefore, Freeport is the clear underperformer here.

Wall Street analysts are strongly bullish on Freeport’s stock. The stock has a consensus rating of “Strong Buy” from the 20 analysts covering it. The mean price target of $48.47 indicates an 18.8% upside compared to current levels. Moreover, the Street-high price target of $58 indicates a 42.2% upside. 

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