Earnings Preview: What To Expect From Freeport-McMoRan’s Report

Company Overview - Freeport-McMoRan Inc. (FCX) is an Arizona-based mining and metals company with a market cap of $58.4 billion, focusing on exploration, mining, and production of mineral resources, particularly copper [1] Earnings Expectations - Analysts expect FCX to report a profit of $0.21 per share on a diluted basis for the fiscal fourth quarter, which represents a 32.3% decrease from $0.31 per share in the same quarter last year [2] - For the current fiscal year, analysts project FCX's EPS to be $1.49, slightly up from $1.48 in fiscal 2024, with an anticipated rise of 31.5% year over year to $1.96 in fiscal 2026 [3] Stock Performance - FCX stock has increased by 30.3% over the past year, outperforming the S&P 500 Index's 16% gains and the Materials Select Sector SPDR Fund's 6.7% rally during the same period [4] Market Drivers - The company's strong performance is attributed to rising copper prices, which are driven by tightening global supply and increasing demand from sectors such as electrification, renewable energy, and data-center infrastructure [5] - FCX has also benefited from favorable pricing dynamics in the U.S. market, which have supported margins despite operational variability [5] Recent Developments - On December 15, shares of Freeport-McMoRan rose by more than 1% due to a broad rally in mining stocks, supported by significant gains in copper prices exceeding 1% and an upswing in precious metals [6] Analyst Ratings - The consensus opinion among analysts on FCX stock is highly bullish, with a "Strong Buy" rating overall; out of 20 analysts, 14 recommend a "Strong Buy," three suggest a "Moderate Buy," and three give a "Hold" rating [7] - The average analyst price target for FCX is $50.95, indicating a marginal potential upside from current levels [7]