Freeport-McMoRan Inc. (NYSE:FCX) is one of the 8 Best American Mining Stocks to Buy Right Now.
On May 4, 2026, Citi lowered the firm’s price target on Freeport-McMoRan Inc. (NYSE:FCX) to $66 from $67 while maintaining a Buy rating on the shares. Jefferies also lowered the firm’s price target on Freeport-McMoRan Inc. (NYSE:FCX) to $75 from $76 and kept a Buy rating. The firm updated its model to reflect changes to Grasberg guidance and estimated the net present value impact at negative $2.2B. Jefferies added that while it may take time for the company to recover from the operational weakness, Freeport remains positioned to benefit from rising copper prices over the longer term.
On April 23, 2026, Freeport-McMoRan Inc. (NYSE:FCX) reported Q1 adjusted EPS of 57c, versus the consensus estimate of 47c. Revenue totaled $6.23B, versus the consensus estimate of $5.96B. President and CEO Kathleen Quirk said the company delivered stronger revenues, cash flow, and earnings year over year despite reduced capacity at its Indonesia operations. Quirk added that Freeport continues to focus on restoring operations at Grasberg safely and sustainably, improving efficiency across its Americas operations, and advancing its portfolio of organic growth projects. Quirk also described Freeport as “America’s Copper Champion” and highlighted the company’s geographically diversified asset base and long-term copper growth pipeline.
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Consolidated production during the quarter totaled 662M pounds of copper, 97,000 ounces of gold, and 22M pounds of molybdenum, while consolidated sales reached 657M pounds of copper, 121,000 ounces of gold, and 24M pounds of molybdenum. Freeport-McMoRan Inc. (NYSE:FCX) expects full-year 2026 sales of approximately 3.1B pounds of copper, 650,000 ounces of gold, and 90M pounds of molybdenum. The company said revised 2026 sales estimates primarily reflect timing adjustments related to the Grasberg Block Cave ramp-up schedule.
Operating cash flow totaled $1.5B during Q1 2026. Assuming commodity prices of $6.00 per pound for copper, $4,500 per ounce for gold, and $25.00 per pound for molybdenum for the remainder of the year, the company expects full-year operating cash flow of approximately $8.7B. Capital expenditures totaled $1.0B during the quarter, including $0.6B tied to major mining projects, while full-year capital expenditures are expected to reach approximately $4.3B.
Freeport-McMoRan Inc. (NYSE:FCX) mines mineral properties across North America, South America, and Indonesia.
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