Freeport-McMoRan stock heads toward October 27 results

Published on 10/05/2026 at 13:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Freeport-McMoRan stock was last at USD 72.04 on October 2, 2026, after a 3.98 percent gain. BMO lifted its target to USD 85, while Q3 copper output reached 830 million pounds.

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Freeport-McMoRan (ISIN US35671D8570) was last at USD 72.04 on the NYSE on October 2, 2026, up 3.98 percent from the prior session. The company now heads toward its third-quarter results on October 27, with copper output and Grasberg recovery setting the operating backdrop.

October 27 results set the next test

Freeport-McMoRan plans to publish third-quarter results before the market opens on October 27, 2026, followed by a conference call at 10:00 a.m. ET, according to Freeport-McMoRan in its October 2, 2026, operational update.

The update put third-quarter consolidated copper production at 830 million pounds and gold production at 230,000 ounces. Copper sales were expected at 750 million pounds, while gold sales were projected at 100,000 ounces after 60,000 ounces of refined gold sales moved from the third quarter into the fourth quarter.

Grasberg recovery remains central

Grasberg mill throughput averaged 140,000 metric tons of ore per day during the third quarter, including 70,000 metric tons from the Block Cave. Freeport-McMoRan said it continues to target 80 percent of capacity in mid-2027 and near-full capacity by the end of 2027.

The operational mix matters because the deferred gold sales pushed third-quarter unit net cash costs 5 percent above the July estimate of USD 2.00 per pound of copper. The company also estimated a realized copper price above USD 6.50 per pound for the quarter, giving the October results a clear margin focus.

BMO raises target to USD 85

BMO Capital Markets raised its Freeport-McMoRan price target from USD 78 to USD 85 on September 29, 2026, and kept an Outperform rating, as reported by Yahoo Finance. The new target lies 17.98 percent above the October 2 price of USD 72.04.

The published consensus is Moderate Buy, based on one Strong Buy, 20 Buy and four Hold ratings, with an average target of USD 72.87, according to MarketBeat. That average target is 1.15 percent above the October 2 price, leaving the upcoming production and earnings figures as the nearer test for the valuation.

Stock gained 3.98 percent

Freeport-McMoRan was last at USD 72.04 on the NYSE on October 2, 2026, with volume of 11,926,686 shares. Its 52-week range was USD 38.54 to USD 80.24, while market capitalization stood at USD 103.6 billion on that date.