Freeport-McMoRan (FCX) stock slides as metals retreat from record highs; Fed minutes next

NEW YORK, December 29, 2025, 20:51 ET -- Market closed

Freeport-McMoRan shares closed down 2.9% at £51.48, tracking a broader pullback in metal-linked stocks. FinancialContent [1]
Gold fell more than 4% and silver slid nearly 10% after both hit record highs earlier in the session, Reuters reported. Reuters [2]
Traders are watching Tuesday's release of the Federal Reserve's December meeting minutes for the next macro cue. Federal Reserve [3]

Freeport-McMoRan shares fell on Monday as a sharp pullback in precious metals and copper knocked mining stocks lower heading into the New Year. The copper producer's stock ended down 2.9% at £51.48. FinancialContent [4] The move matters now because Freeport's earnings tend to swing with metals prices, and the latest selloff hit after a year-long rally pushed several contracts to record levels.

The year-end calendar can amplify price moves as trading liquidity thins and positioning gets reset. Reuters [5] Gold and silver are closely watched as broader sentiment gauges for metals and inflation hedging, and Freeport also produces gold and silver alongside copper. A pullback in those markets can spill into miners even when company news is quiet. Reuters+1 [6]

Spot gold fell 4.5% to £4,330.79 an ounce by early afternoon in New York, after hitting a record £4,549.71 on Friday, Reuters reported. Silver dropped 9.5% to £71.66 after touching a record £83.62 earlier in the session. Reuters [7] "All the metals moved up to recent and all-time highs.

We are seeing profit-taking pullbacks off of those spectacularly high levels," said David Meger, director of metals trading at High Ridge Futures. Reuters [8] Daniel Ghali, a commodity strategist at TD Securities, said liquidity constraints tied to a deadline for the president to make a recommendation on a critical minerals investigation, alongside holiday-thinned trading, exacerbated the drop. Reuters [9] The pressure was not limited to Freeport.

Southern Copper fell about 2.8%, while Newmont slid about 5.6%, according to market data. Base metals also weakened as the broader metals complex cooled. Copper was down 4.6% in afternoon trading, a report carried by MarketWatch and Dow Jones Newswires said. MarketScreener [10]

Freeport is one of the biggest U.S.-listed copper producers, with assets in North America, South America and Indonesia, including the Grasberg minerals district, according to Reuters company information. Reuters [11] Before the next session, traders will focus on whether the selloff in metals stabilizes and how interest-rate expectations shift. The Federal Reserve's rate-setting committee releases minutes from its December 9-10 meeting at 2:00 p.m.

ET on Tuesday, a scheduled event that can move yields and the dollar--both key drivers for metals prices. Federal Reserve [12] Year-end liquidity is also on investors' radar. Banks borrowed £25.95 billion on Monday through the Fed's standing repo facility--an overnight liquidity backstop--highlighting typical quarter-end funding pressures, Reuters reported. Reuters [13]

On the company calendar, Freeport has not announced a fourth-quarter earnings date, but several Wall Street calendars point to a late-January window. Nasdaq's earnings page shows an estimated report date of Jan.

22, 2026, based on historical patterns. Nasdaq+1 [14] Technically, the stock is about 4% below its 52-week high of £53.77 and well above its 52-week low of £27.66, based on the company's quoted range.

Monday's intraday low was £51.17. Freeport-McMoRan Investors [15]

For now, Freeport's next move may hinge less on company headlines than on the direction of copper and precious metals after a crowded, year-end trade reversed sharply.

References

^ FinancialContent (markets.financialcontent.com)
^ Reuters (www.reuters.com)
^ Federal Reserve (www.federalreserve.gov)
^ FinancialContent (markets.financialcontent.com)
^ Reuters (www.reuters.com)
^ Reuters+1 (www.reuters.com)
^ Reuters (www.reuters.com)
^ Reuters (www.reuters.com)
^ Reuters (www.reuters.com)
^ MarketScreener (www.marketscreener.com)
^ Reuters (www.reuters.com)
^ Federal Reserve (www.federalreserve.gov)
^ Reuters (www.reuters.com)
^ Nasdaq+1 (www.nasdaq.com)
^ Freeport-McMoRan Investors (investors.fcx.com)