Freeport-McMoRan Inc. (FCX) is a serious international mining firm that extracts copper, gold, and molybdenum. It operates intensive mining belongings, together with seven open-pit copper mines and two molybdenum mines in North America, in addition to vital worldwide operations such because the Grasberg mine in Indonesia.
The corporate manages large-scale, long-lasting deposits with superior processing amenities. Its headquarters are situated in Phoenix, Arizona, serving because the central base for its worldwide mining actions and operations administration. The corporate has a market capitalization of $58.57 billion, which classifies it as a “large-cap” inventory.
Freeport’s inventory had reached a 52-week excessive of $49.12 on July 8, however it’s down virtually 17% from that stage. Cautious market sentiments have led to the inventory declining by 5.8% over the previous three months. This was additionally pushed by a tragic mud-rush incident on the Grasberg Block Cave mine (GBC) in Indonesia, which prompted lack of lives. Then again, the broader Nasdaq Composite ($NASX) index gained 6.2% in the identical interval.
Over the long term, this underperformance persists. Over the previous 52 weeks, Freeport’s inventory dropped by 6.7%, whereas it’s up 4.5% over the previous six months. Then again, the Nasdaq Composite gained 19% and 19.7% over the identical intervals, respectively. The inventory has been hovering close to its 50-day and 200-day transferring averages.
On Oct. 23, Freeport reported its third-quarter outcomes for fiscal 2025. The corporate’s revenues elevated 2.7% year-over-year (YOY) to $6.97 billion, exceeding the $6.54 billion that Wall Road analysts had anticipated. Its backside line additionally elevated with the topline rise.
Its EPS for the quarter was $0.46, up 27.8% yearly, whereas adjusted EPS rose 31.6% YOY to $0.50. The determine was larger than the $0.41 that Road analysts had anticipated. Freeport’s inventory rose 1.1% intraday on Oct. 23. Nevertheless, the corporate’s strong outcomes had been overshadowed by the incident on the GCB mine in September.
We evaluate Freeport’s efficiency with that of copper miner Southern Copper Company (SCCO), which has climbed 27.1% over the previous 52 weeks and gained 37.3% over the previous six months. Due to this fact, Freeport is the clear underperformer right here.