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Freeport-McMoRan (FCX): The Best American Mining Stock to Buy Right Now

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.

Image by Tshekiso Tebalo from Pixabay

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.

While we acknowledge the risk and potential of FCX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than FCX and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. 

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The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

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