Freeport-McMoRan stock reports 830 million pounds of copper output

Published on 10/06/2026 at 14:16 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Freeport-McMoRan stock was last at USD 72.62 on October 5, 2026, with a USD 104.4 billion market capitalization. Q2 revenue reached USD 7.03 billion.

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Freeport-McMoRan stock (ISIN US35671D8570) was last at USD 72.62 on the NYSE on October 5, 2026, while the miner reported 830 million pounds of copper production for Q3 2026. The operating update keeps attention on Grasberg, where the recovery plan is advancing but throughput remains below normalized levels.

Copper output meets expectations

According to Yahoo Finance on October 5, 2026, Freeport-McMoRan produced 830 million pounds of copper and 230,000 ounces of gold during Q3 2026. Copper sales are expected at 750 million pounds, matching the July estimate, while gold sales of 100,000 ounces are below the estimate because 60,000 ounces of refined gold sales moved into Q4.

The same update put the expected average realized copper price above USD 6.50 per pound. Unit net cash costs are expected to be 5 percent above the July estimate of USD 2.00 per pound, mainly because of lower by-product credits.

Grasberg recovery sets the timetable

Grasberg mill throughput averaged 140,000 metric tons of ore per day in Q3 2026, equal to 67 percent of normalized rates before the September 2025 incident. The Grasberg Block Cave contributed 70,000 metric tons per day, giving investors a concrete measure of the remaining production gap.

SMM reported on October 5, 2026, that Freeport-McMoRan targets 80 percent of Grasberg capacity by mid-2027 and near-full capacity by the end of 2027. The Eastern Java smelter restarted in late August 2026, and the combined smelting system can produce up to 800,000 metric tons of copper cathode annually.

Earnings and analyst targets

Freeport-McMoRan is scheduled to report Q3 2026 earnings on October 27, 2026, before the market opens, according to the company investor-relations page. Its Q2 2026 revenue was USD 7.03 billion, versus USD 6.62 billion expected, while adjusted EPS was USD 0.74 against a USD 0.62 consensus estimate, according to MarketBeat.

Royal Bank of Canada raised its price target from USD 73.00 to USD 85.00 on September 16, 2026, while keeping a Sector Perform rating, as MarketBeat reported. The portal lists a Moderate Buy consensus from 25 analysts and an average target of USD 72.87, leaving the October 5 price 0.3 percent below that average.

Freeport-McMoRan stock stays below yearly high

Freeport-McMoRan stock was last at USD 72.62 on October 5, 2026 at 4:00 p.m. ET. Its market capitalization was USD 104.4 billion, and the 52-week range was USD 38.54 to USD 80.24, placing the price 9.5 percent below the yearly high.