Stock of the Day

January 13, 2026

Freeport-McMoRan (FCX)

$69.44
-$0.62 (-0.9%)
Market Cap: $99.91B

About Freeport-McMoRan

Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's 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. Freeport-McMoRan Inc. was incorporated in 1987 and is headquartered in Phoenix, Arizona.

Freeport-McMoRan Bull Case

Here are some ways that investors could benefit from investing in Freeport-McMoRan Inc.:

  • Analysts at Scotiabank and Erste Group Bank recently raised their earnings forecasts for the company, with Scotiabank increasing its FY2026 EPS estimate to $3.35 and Erste Group Bank lifting its FY2027 estimate to $4.32, suggesting that the market expects stronger future profitability from the copper and gold producer.
  • The stock is currently trading at $69.65, which is below the average analyst price target of $76.22, indicating that the current market price may be undervalued relative to the consensus view of the company's worth.
  • Freeport-McMoRan Inc. has consistently beaten earnings expectations in recent quarters, reporting $0.74 in EPS for the quarter ended July 23rd compared to a consensus estimate of $0.62, demonstrating strong operational performance and revenue generation of $7.03 billion.
  • Institutional investors have shown confidence in the company, with major funds like State Street Corp and Bank of America Corp increasing their holdings in the first and second quarters, which often signals that professional investors see long-term value in the stock.
  • The company maintains a low debt-to-equity ratio of 0.25 and a current ratio of 2.07, indicating a strong balance sheet and financial stability that can help the company navigate market volatility and invest in growth opportunities.

Freeport-McMoRan Bear Case

Investors should be bearish about investing in Freeport-McMoRan Inc. for these reasons:

  • Technical analysts have warned that the recent rally in the stock appears tired and that consolidation may follow, suggesting that near-term upside could be limited despite the longer-term positive earnings outlook.
  • Corporate insiders have been selling shares recently, with EVP Douglas Currault, II selling 80,000 shares and Director Lydia Kennard selling 3,798 shares in late August, which can be interpreted as a lack of confidence from those who know the company best.
  • The stock has a high beta of 1.39, meaning it is more volatile than the overall market and may experience larger price swings, which could be risky for investors who prefer stability in their portfolio.
  • Short interest in the stock has been increasing, with the number of shares shorted rising to 25.1 million in the most recent reporting period, indicating that some traders are betting against the stock's future performance.
  • The company's revenue has declined by 7.3% year-over-year in the most recent quarter, which could signal underlying challenges in the business that may impact future earnings growth despite the strong EPS results.

Gold, Silver, and Copper Are Surging—Here Are 3 Smart Ways to Play It

Written By Nathan Reiff on 12/31/2025

Gold, silver, and copper sit on a trading floor backdrop, reflecting rising demand across key precious-metal markets.

Despite an end-of-year fall after derivatives exchange company CME Group Inc. (NASDAQ: CME) increased its precious metals contract margin requirements, metals including gold, silver, and copper have been on an incredibly run in recent months. The pace of the rally may provoke concern among investors worried that rising metals prices signal trouble for equities or the economy more broadly. However, at the same time, tremendous gains in these safe haven assets means big boosts for investors exposed to them—and to the share price of many companies involved in their production.

If choosing between an investment related to gold, silver, or copper is too difficult as multiple metals race to the stratosphere, consider the options below. Each is a strong play that leans toward one or the other of these fast-rising precious metals.

Freeport-McMoRan's Potential in the Wake of a Mine Disaster

Freeport-McMoRan Inc. (NYSE: FCX) ranks among the top copper producers globally, though it also provides more modest exposure to gold and other metals. Despite the price of copper surging by about 41% in 2025, FCX shares lagged slightly behind with an increase of about 36% in the same period.

A mining disaster in Indonesia sent Freeport's shares tumbling in September, but the company has more than made up for that dip in the last several weeks based on its sharp ascent.

Investors may rightly hold off on FCX given the company's failure to detect conditions that led to the deaths of multiple workers in the Grasberg mine this fall. Outside of this concern, however, Freeport demonstrated its operational resilience even as production fell in the third quarter, following the incident.

Management reiterated a healthy financial outlook in the latest earnings report and pointed to the firm's extensive efforts to improve mitigation and monitoring. The company will also undergo a phased reopening of multiple mining operations after the disaster, with production expected to significantly ramp up starting in 2027.

This ambitious growth plan appeals to analysts—about 88% of ratings for FCX shares are a Buy—and may attract investors with a long-term bullish view on copper prices.

Wheaton's Indirect Approach, Strong Margins Could Boost Shares Along With Silver

About 39% of record third-quarter revenue for Wheaton Precious Metals Corp. (NYSE: WPM) came from silver, and the company also provides exposure to gold, palladium, and cobalt. However, Wheaton is unlike other miners because it doesn't operate its own mines. Rather, it provides funding for other miners in trade for a percentage of the metals produced.

Wheaton's lack of direct exposure to any specific metal means that it can be insulated to some extent in the event of a crash in prices. It's also highly diversified in terms of its geography and operations, with partnerships involving dozens of mining firms around the world.

It also sports some of the best margins in the industry as a result of its hands-off approach. Additionally, as a Canadian firm, Wheaton could stand to benefit from a scenario in 2026 in which the USD strengthens relative to the CAD.

Eleven out of 13 analysts support WPM shares with a Buy (or equivalent) rating, and the stock is expected to grow by some 12% despite already doubling in price in 2025, a result in part of its heavy involvement in silver mining.

Franco-Nevada's Impressive Financials and Acquisitions Set It Up for 2026 Success

Franco-Nevada Corp. (NYSE: FNV) adopts an approach similar to Wheaton's, acquiring royalty and streaming agreements with other miners in exchange for upfront financing. This firm's focus is gold, but it also has contracts involving silver and other metals.

With gold prices up nearly two-thirds in 2025, Franco-Nevada's expansion into six new gold acquisitions in the latest quarter gives it a crucial advantage heading into the new year. The company's financial performance is already strong, having achieved a 77% year-over-year revenue improvement in the third quarter and 81% growth in adjusted EBITDA during the same period. What's more, its financial position remains enviable.

Franco-Nevada ended the quarter with no debt and about $1.8 billion in available capital, ensuring it should have plenty of breathing room to continue to adjust its exposure based on opportunities and metals pricing into 2026 and beyond. A majority of analysts rating FNV shares call them a Buy, and Wall Street expects the stock to rise by another 12%, on top of its 72% growth year-to-date.

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