Freeport-McMoRan (FCX)
NYSEMaterialsCopperSnapshot 2026-10-30
$62.45-5.58%
Close 2026-10-30 · 1-day change
NYSEMaterialsCopperSnapshot 2026-10-30
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.
Management is running behind on a stated commitment.
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 1% on a typical day and fell roughly 24% in its worst 12-month stretch.
View RiskFCX is a copper-growth thesis built on leaching technology, organic projects, and Grasberg recovery. Copper growth must continue to support the premium valuation. Q3 2026 non-GAAP EPS beat by 10%, following a Q2 beat of 23.3%. The desk reports strong recent performance and cash-backed profits, but provides no revenue growth figures. FCX trades at 23.5× P/E versus a 16.4× peer median. The price reflects less growth than our forecast, despite that premium. Management is running behind on a stated commitment, and our model puts the next-quarter miss probability near 19%. Peer multiples imply a price roughly in line with where it trades (about fair); the thesis is on watch, and this read is provisional.
Trailing returns as of 2026-10-30. 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 Oct 2026).
Based on 9 Wall Street analysts offering 12-month price targets for FCX in the last 4 months.
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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 2026-10-30. 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.
Advances: Advance organic copper growth projects
Slides outline a long-term copper growth target, supporting organic growth and production objectives.
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 2026-10-30. EPS is implied from price ÷ P/E. Not investment advice.
Current $62.45
The last 12 months of price, then the range of analyst 12-month targets from today’s $62.45.
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: Leverage innovative leaching and technology initiatives
Leach breakthrough supports innovative technology initiatives.
Tariff doubts could impact copper pricing and production outlook.
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.
