Companies · FCX
Freeport-McMoRan
AI-generated · informational only · not investment advice · verify before relying.
Latest analysis
Updated Nov 6, 2026
FCX posts $7.5B Q3 2026 revenue on 40% higher copper prices while approving $4.5B Bagdad expansion and advancing Indonesia mine ramp-up.
Freeport-McMoRan delivered Q3 2026 revenues of $7.5 billion and net income attributable to common stockholders of $1.2 billion, both materially above Q3 2025, driven by copper prices averaging $6.48/lb on COMEX — a 40% year-over-year increase — that more than offset lower Indonesia volumes during the Grasberg Block Cave ramp-up. The Board approved a $4.5 billion Bagdad expansion in November 2026 that would more than double mining and milling rates and position Bagdad as the second-largest U.S. copper mine by mid-2030. A new FCPA investigation disclosure related to PT Smelting — a joint venture with Mitsubishi Materials Corporation — was added to the risk factor update and remains unresolved despite the SEC declining enforcement.
Tone: bullishRevenue
$25.9B
FCX 10-K · FY 2025
Revenue FY2024
$25.5B
Headquarters
Phoenix, AZ
Profile
FCX 10-K Item 1 · Feb 13, 2026Freeport-McMoRan Inc. is a leading international mining company with significant operations producing copper, gold, and molybdenum. Its principal operations include large-scale mining in the United States, South America, and Indonesia, anchored by the Grasberg minerals district in Indonesia. The company is one of the world's largest publicly traded copper producers.
Read filing description ↓ Collapse description ↑
Freeport-McMoRan Inc. is a premier U.S.-based natural resources company with a portfolio of mineral assets. The company's operations include copper mines in North America (including Morenci, Safford, Lone Star, and Sierrita in Arizona), South America (including Cerro Verde in Peru and El Abra in Chile), and Indonesia (the Grasberg minerals district operated through PT Freeport Indonesia). The company also produces molybdenum and gold as significant co-products. Freeport-McMoRan characterizes copper as central to the global transition to renewable power, electric vehicles, data centers, artificial intelligence developments, and continued urbanization in developing countries. The company operates smelting and refining facilities, including through PT Smelting in Indonesia, enabling downstream processing of its concentrates. Its Indonesian operations are conducted under a special mining business license (IUPK) through PT Freeport Indonesia (PTFI). The company pursues organic growth through mine development and exploration, and has articulated sustainability commitments including 2030 climate targets and a 2050 net zero aspiration. Freeport-McMoRan operates as a holding company with subsidiaries conducting its mining, smelting, and refining activities across multiple continents.
Primary products
- Copper
- Gold
- Molybdenum
Business segments
End markets
Geographies
Revenue commentary · FY 2025
Revenues increased from $25,455 million in 2024 to $25,915 million in 2025, reflecting modest year-over-year growth driven by the company's copper, gold, and molybdenum production.
The rest of FCX is for subscribers
Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.