FCX Freeport-McMoRan Inc.

bearish · high conviction REVERSAL track record → $61.48 -8.88 (-12.6%)
Get emailed when FCX changes direction
Mkt Cap $101B P/E 46.2 fwd 17.4 52wk $33.30 - $70.97 3h ago
Insider selling: $61,562,825 sold by 16 insiders (30d)
Est. revisions: +0.4% (2 up, 2 down in 30d)
Backed by structured data (insider trades, analyst ratings, or filings)
Factor Model (net -0.1)

Factor Model

net -0.1 1.0 / 10
Est. Revisions
+0.0
Insider Activity
+0.0
Momentum
+0.0
Analyst Rev.
+0.0
Narrative Gap
+0.0

Morgan Stanley Cuts FCX on Grasberg Delays

Watch: Monitor Grasberg mine's production recovery timeline and cost trends, which will impact FCX's margin and earnings outlook through 2027.

Morgan Stanley downgraded Freeport-McMoRan from Overweight to Equal Weight and lowered its price target from $70 to $66. The firm's caution centers on delayed production recovery at the Grasberg mine through 2027, pressuring near-term margins despite FCX's Q1 2026 earnings beat with $0.57 EPS on $6.23 billion revenue. The firm highlights increasing costs at Grasberg as a key headwind.

The downgrade signals concerns about FCX's margin and production challenges mitigating its strong earnings, potentially limiting near-term share price appreciation amid structural copper demand drivers.

Our Trades

Full track record →
+104.1%

Long Call · The Indexer

FCX: earnings estimates raised 10%; analyst targets imply 18% upside.

19d held
2026-04-13
+42.2%

Long Call · The Indexer

7d held
2026-04-02

Evidence

3h ago Morgan Stanley Downgrades Freeport-McMoRan: Is the Copper Story Breaking Down at Grasberg? yahoo-finance
9h ago Morgan Stanley down FCX: Overweight → Equal-Weight
4d ago Stocks making the biggest moves premarket: American Airlines, Marvell Technology, Strategy & more cnbc-finance
9d ago Wells Fargo main FCX: Overweight → Overweight
10d ago Scotiabank main FCX: Sector Outperform → Sector Outperform
10d ago Insider sell by ADKERSON RICHARD C (FCX): $25,464,329
45d ago Freeport-McMoRan Inc. (FCX) Upgraded to Buy as Copper Outlook Improves yahoo-finance
50d ago Freeport-McMoRan Inc. (FCX) Signs MoU With Indonesian Government To Extend Mining Operations yahoo-finance
1 older signals
56d ago Freeport-McMoRan Inc. (FCX) Signs MoU With Indonesian Government To Extend Mining Operations
Fundamentals & Data ▾
Freeport-McMoRan Inc. Basic Materials · Copper
Mkt Cap
$101B
P/E
46.2 fwd 17.4
Beta
1.47
Div Yield
85.00%
52w Range
$33.30 - $70.97
Short Interest
27.1M 1.9%
Days to Cover
1.4 -3%
Technicals downtrend
from 52w Hi
-12.6%
1w return
-10.0%
Insiders
selling 0B / 10S
Analysts
bearish 0 up / 1 down
EPS Estimate
$0.48 +0.4% 30d 2up / 2dn
Est. Dispersion
54% 12 analysts
Analyst Target
$69 $30 - $81
Options P/C
1.45 3C / 0P unusual
Insider Cluster
strong sell 0B / 5S
Fund Convergence
strong D.E. Shaw, Citadel, Two Sigma, Renaissance, Bridgewater
Financials
Revenue
$5.6B -2% YoY
FCF
$-312M
Gross Margin
18%
Op Margin
14%
Momentum: decelerating
Top Holders
D.E. Shaw $1.6B
Citadel $786M
Two Sigma $78M
Renaissance $64M
Bridgewater $4M
Recent Filings & Data
insider trade 75
net selling · $61,562,825 sold
16 insiders · 75 transactions (30d)
Recent transactions
DUDLEY ROBERT W · award
STEPHENS JOHN JOSEPH · award · $20,573
GRANT HUGH N · award · $33,740
ADKERSON RICHARD C · other
HIGGINS STEPHEN T · sell · $1,868,202
MIKES ELLIE L. · sell · $682,345
ROBERTSON MAREE E · sell · $2,985,175
ADKERSON RICHARD C · sell · $25,464,329
CURRAULT DOUGLAS NICHOLAS II · sell · $4,838,812
CURRAULT DOUGLAS NICHOLAS II · exercise · $892,250
ROBERTSON MAREE E · award
ADKERSON RICHARD C · award
HIGGINS STEPHEN T · award
CURRAULT DOUGLAS NICHOLAS II · award
MIKES ELLIE L. · award
QUIRK KATHLEEN L. · award
STEPHENS JOHN JOSEPH · award · $20,621
GRANT HUGH N · award · $33,725
HIGGINS STEPHEN T · sell · $1,363,900
MIKES ELLIE L. · sell · $456,202
ADKERSON RICHARD C · other
STEPHENS JOHN JOSEPH · award · $20,590
GRANT HUGH N · award · $33,729
ADKERSON RICHARD C · other
STEPHENS JOHN JOSEPH · award · $20,591
GRANT HUGH N · award · $33,726
MIKES ELLIE L. · sell · $343,520
MCCOY DUSTAN E · award
TOWNSEND FRANCES FRAGOS J.D. · award
STEPHENS JOHN JOSEPH · award
DONADIO MARCELA E. CPA · award
LEWIS SARA GROOTWASSINK · award
DUDLEY ROBERT W · award
GRANT HUGH N · award
KENNARD LYDIA H · award
ABNEY DAVID P · award
LANCE RYAN MICHAEL · award
ADKERSON RICHARD C · other
STEPHENS JOHN JOSEPH · award · $21,239
GRANT HUGH N · award · $34,983
ADKERSON RICHARD C · award
HIGGINS STEPHEN T · award
CURRAULT DOUGLAS NICHOLAS II · award
ROBERTSON MAREE E · award
QUIRK KATHLEEN L. · award
STEPHENS JOHN JOSEPH · award · $19,992
GRANT HUGH N · award · $32,482
ROBERTSON MAREE E · sell · $583,878
STEPHENS JOHN JOSEPH · award · $19,968
GRANT HUGH N · award · $32,498
ADKERSON RICHARD C · other
STEPHENS JOHN JOSEPH · award · $19,975
GRANT HUGH N · award · $32,465
QUIRK KATHLEEN L. · award
MCCOY DUSTAN E · award
TOWNSEND FRANCES FRAGOS J.D. · award
STEPHENS JOHN JOSEPH · award
DONADIO MARCELA E. CPA · award
LEWIS SARA GROOTWASSINK · award
MIKES ELLIE L. · exercise · $37,511
ADKERSON RICHARD C · sell · $8,557,014
ADKERSON RICHARD C · exercise · $11,008,400
CURRAULT DOUGLAS NICHOLAS II · sell · $2,859,368
CURRAULT DOUGLAS NICHOLAS II · exercise · $858,950
GRANT HUGH N · award
KENNARD LYDIA H · award
ABNEY DAVID P · award
LANCE RYAN MICHAEL · award
HIGGINS STEPHEN T · sell · $4,162,512
HIGGINS STEPHEN T · exercise · $1,204,700
ADKERSON RICHARD C · other
ADKERSON RICHARD C · sell · $2,781,118
HIGGINS STEPHEN T · sell · $4,395,592
HIGGINS STEPHEN T · exercise · $1,031,337
MIKES ELLIE L. · sell · $220,858
analyst rating 3
Morgan Stanley down → Equal-Weight 10h ago
ae trade 2
9 signals · latest 3h ago

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