Is Freeport-McMoRan Stock Underperforming the Nasdaq?

Core Viewpoint - Freeport-McMoRan Inc. has reported a mixed performance in its recent financial results, with revenue growth overshadowed by market challenges and a tragic incident at its Grasberg mine [5][6]. Company Overview - Freeport-McMoRan Inc. is a major global mining company focused on extracting copper, gold, and molybdenum, operating extensive mining assets including seven open-pit copper mines and two molybdenum mines in North America, as well as significant international operations like the Grasberg mine in Indonesia [1]. - The company is headquartered in Phoenix, Arizona, and has a market capitalization of $58.57 billion, classifying it as a "large-cap" stock [2]. Stock Performance - Freeport's stock reached a 52-week high of $49.12 on July 8 but has since declined nearly 17%, with a 5.8% drop over the past three months, contrasting with a 6.2% gain in the Nasdaq Composite index during the same period [3]. - Over the past 52 weeks, Freeport's stock has dropped by 6.7%, while it has increased by 4.5% over the past six months, compared to the Nasdaq Composite's gains of 19% and 19.7% respectively [4]. Financial Results - For the third quarter of fiscal 2025, Freeport reported revenues of $6.97 billion, a 2.7% year-over-year increase, surpassing Wall Street's expectations of $6.54 billion [5]. - The company's earnings per share (EPS) for the quarter was $0.46, reflecting a 27.8% annual increase, while adjusted EPS rose 31.6% year-over-year to $0.50, exceeding the expected $0.41 [6]. Comparative Performance - In comparison to Southern Copper Corporation, which has seen a 27.1% increase over the past 52 weeks and a 37.3% gain over the past six months, Freeport is identified as a clear underperformer [7].