Freeport-McMoRan (FCX)
NYSEMaterialsCopperSnapshot 2026-09-15
$69.38+0.06%
Close 2026-09-15 · 1-day change
NYSEMaterialsCopperSnapshot 2026-09-15
Research Workspace
Put FCX beside peers and holdings, graph the same metric, and keep your notes with the evidence.
Daily closes. Earnings/event dots are placed inline.
Industries move in repeating boom-and-bust cycles. This shows where this stock’s industry sits in that cycle, stage by stage (recovery → expansion → supercycle → steady → deceleration → contraction), from its fundamentals (orders, revenue, capital spending), not the stock’s price.
A booming industry is a tailwind for the names in it; a contracting one is a headwind. Companies in the same industry tend to rise and fall together with the cycle, the way a tide lifts and lowers every boat in the harbor at once, so a large part of a stock’s swing can come from where its industry sits rather than from the company itself. It’s context for reading the company’s results, not a buy/sell call. Full explanation →
Materials: fringe margins under pressure (0q confirmed)
The stage band shows the industry’s cycle over the chart’s timeline (each color a stage); a ▼ marks a quarter its growth inflected down — amber is an unconfirmed watch, red is confirmed the next quarter. Use “Overlay cycle on chart” to tint the price chart by stage. The industry’s fundamentals, not a signal on this stock.
The reason to own it still holds.
View ThesisRevenue growth is slowing — up about 0% over the past year and decelerating.
View GrowthMiddle-of-the-pack quality for its industry.
View QualityManagement screens strong on capital allocation, earnings delivery, margins.
View ManagementExpectations look reasonable — what the market is pricing in sits in line with or below what analysts forecast.
View ValuationThis stock is volatile — it swings about 2% on a typical day and fell roughly 24% in its worst 12-month stretch.
View RiskFCX's growth depends on rising copper demand, especially from AI. The Grasberg ramp-up supports this growth. Revenue grew 8% year over year, and the last quarter beat expectations. FCX trades at 30× P/E versus a 17× peer median. This suggests the price reflects modest growth expectations. A risk is that FCX may cut guidance on the next call. Our model puts the next-quarter miss near 18%. Peer multiples imply a price about 33% below where it trades. This read is provisional.
Trailing returns as of 2026-09-15. FCX is total return (includes dividends); the S&P 500 benchmark is price return (the index excludes dividends).
Based on 23 analysts currently covering FCX (as of Sep 2026).
Based on 7 Wall Street analysts offering 12-month price targets for FCX in the last 4 months.
Continue this research
Compare FCX with peers and holdings, graph the same reported metric, keep your questions beside the evidence, and return when the facts change.
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| Compare | Company | Living FV | P/E | Revenue % | Quality |
|---|---|---|---|---|---|
| FCX Selected company | Graph | Compare | Trend | Review | |
| Peer Add a competitor | Graph | Compare | Trend | Review | |
| Holding Compare a holding | Graph | Compare | Trend | Review |
Selected metric trend
Quarterly · checked companies · value or % of revenue
A consensus fair price across 12 valuation methods, at three horizons. As of 2026-09-15. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
Today's peer multiple on trailing earnings, with no growth credited. This is the headline read.
Adds projected growth, so it leans optimistic by design. Read it as upside context, not a base case.
A price-focused, side-by-side fair-value read versus Materials (broad) — fair value, gap to price, and forward P/E.
Compare the value case
Put FCX next to peers and holdings, compare Living FV and multiples, then graph the driver behind the difference.
Tariff doubts could impact copper pricing and production outlook.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
End-of-day figures as of 2026-09-15. EPS is implied from price ÷ P/E. Not investment advice.
Current $69.38
The last 12 months of price, then the range of analyst 12-month targets from today’s $69.38.
Analyst ratings and price targets are third-party Wall Street estimates, not QuarterlyIQ’s view. Not investment advice.
A long-thesis check that carries the widest uncertainty of the three horizons.
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.
Advances: Advance organic copper growth projects
Grasberg ramp-up supports organic copper growth objectives.
Advances: Advance organic copper growth projects
Growth initiatives discussed at a major conference.
Copper price drop impacts overall market sentiment.
Advances: Optimize consolidated unit net cash costs around $1.90-$1.95 per pound
Higher copper prices enhance revenue and support cost optimization.
Advances: Advance organic copper growth projects
Upgrade indicates positive outlook on copper growth projects.
Advances: Advance organic copper growth projects
Strong Q2 and copper prices support growth objectives.
Threatens: Increase copper production
Delays could hinder copper production growth objectives.
