Freeport Q4 Beat Highlights Grasberg Recovery And Long Term Copper Upside

Freeport-McMoRan (NYSE:FCX) reported successful Q4 and full-year results, with performance exceeding earlier expectations.
The company is making progress on recovering operations at its Grasberg mine after a major mudflow incident, with a phased restart targeted for Q2 2026.
Management highlighted advancement of key organic growth projects in the Americas and Indonesia, including a major U.S. leach project and the Baghdad expansion.

For context, Freeport-McMoRan shares most recently closed at £60.41, with the stock up 2.9% over the past week and 16.4% over the past month. The move over the past year has been stronger, with a 62.0% return and a 140.5% gain over five years. This reflects how the market has responded to the company's copper exposure and project pipeline.

Looking ahead, investors will likely focus on two things: how effectively Freeport restores Grasberg output on its current timetable, and how smoothly its U.S. and Indonesian growth projects ramp. Together, those efforts have the potential to increase copper volumes and improve unit costs, which could be important drivers of long-term value creation for holders of NYSE:FCX. Stay updated on the most important news stories for Freeport-McMoRan [1] by adding it to your watchlist [2] or portfolio [3].

Alternatively, explore our Community [4] to discover new perspectives on Freeport-McMoRan.

NYSE:FCX 1-Year Stock Price Chart

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Investor Checklist

Quick Assessment

? Price vs Analyst Target: At US£60.41, the share price sits slightly above the US£59.22 analyst target and near the top of the US£28 to US£70 range.
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Simply Wall St Valuation: Simply Wall St estimates the stock is trading about 44.9% below its calculated fair value.
? Recent Momentum: The 30 day return of roughly 16.4% shows recent positive price momentum.

Check out Simply Wall St's in depth valuation analysis for Freeport-McMoRan [6].

Key Considerations

? Q4 strength, Grasberg recovery progress, and project advancement in the Americas and Indonesia all speak directly to copper volume and cost efficiency over time.
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Keep an eye on the phased Grasberg restart toward Q2 2026, execution on U.S. leach and Baghdad projects, and how these feed into earnings versus the current P/E of about 39.4x and forward P/E of about 27.5x.
? One flagged risk is significant insider selling over the past 3 months, which some investors may want to weigh against the two identified rewards including the current valuation gap.

Dig Deeper

For the full picture including more risks and rewards, check out the complete Freeport-McMoRan analysis [7]. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation.

We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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References

^ Freeport-McMoRan (www.simplywall.st)
^ watchlist (simplywall.st)
^ portfolio (simplywall.st)
^ Community (simplywall.st)
^ Why Freeport-McMoRan could be great value (www.simplywall.st)
^ in depth valuation analysis for Freeport-McMoRan (www.simplywall.st)
^ complete Freeport-McMoRan analysis (www.simplywall.st)
^ Explore Now for Free (simplywall.st)
^ Get in touch (feedback.simplywall.st)
^ [email protected] (simplywall.st)