Freeport-McMoRan stock reports Q3 output as Wells Fargo lifts target
Published on 10/06/2026 at 17:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Freeport-McMoRan stock was trading at USD 72.67 on the NYSE on October 6, 2026 at 11:44 a.m. ET, up 0.09 percent from the prior close. The latest operating update put third-quarter copper production at 830 million pounds and gold production at 230,000 ounces on October 2, 2026, according to Finanznachrichten.
Grasberg recovery drives the update
The October 2 update also said third-quarter copper sales were expected to reach 750 million pounds and gold sales 100,000 ounces. It highlighted ongoing progress in the recovery of the Grasberg operation, making production execution the central operating question for the next results release.
Q2 revenue beat consensus
Freeport-McMoRan reported USD 7.03 billion in Q2 2026 revenue against consensus of USD 6.62 billion, while earnings per share came in at USD 0.74 versus USD 0.62 expected, MarketBeat reported. Revenue was down 7.3 percent year over year in that quarter, so the production recovery must translate into sales and earnings to sustain the operating case.
Targets move higher
Wells Fargo raised its Freeport-McMoRan price target from USD 70.00 to USD 87.00 and kept an Overweight rating in a report issued October 6, 2026, according to MarketBeat. Its consensus view was Moderate Buy from 25 analysts with an average target of USD 74.67, which is 2.8 percent above the current USD 72.67 price.
October 27 is the next checkpoint
Freeport-McMoRan's investor-relations page lists the third-quarter 2026 conference call for October 27, 2026 at 10:00 a.m. ET, providing the next scheduled review of production, Grasberg progress and financial results, according to Freeport-McMoRan.
Stock remains below the yearly high
Freeport-McMoRan stock was last at USD 72.67 on the NYSE on October 6, 2026 at 11:44 a.m. ET, 9.4 percent below its 52-week high of USD 80.24.
Freeport-McMoRan stock facts
- Company: Freeport-McMoRan Inc.
- ISIN: US35671D8570
- Ticker: FCX
- Trading venue: NYSE
- Price (as of October 6, 2026, 11:44 a.m. ET): USD 72.67
- Market capitalization: USD 104.5 billion (as of October 6, 2026)
- 52-week range: USD 38.54-80.24 (as of October 6, 2026)
- Sector / Industry: Basic Materials / Copper
- Index membership: S&P 500
Upcoming dates for Freeport-McMoRan stock
- October 27, 2026: Third-quarter 2026 conference call
