Recent Updates — FCX
Freeport-McMoRan reported third-quarter 2026 net income attributable to common stock of $1.2 billion, or $0.81 per share, and adjusted net income of $1.3 billion, or $0.88 per share. Consolidated copper sales reached 749 million pounds at an average realized price of $6.54 per pound, while gold sales were 105 thousand ounces at $4,273 per ounce. Operating cash flows totaled $2.0 billion for the quarter. The company also declared a quarterly dividend of $0.15 per share, payable on November 2, 2026, to shareholders of record as of October 15, 2026. Freeport-McMoRan is a leading international mining company and one of the world's largest publicly traded copper producers.
Freeport-McMoRan issued a third-quarter 2026 operational update reporting consolidated copper production of approximately 830 million pounds and gold production of 230 thousand ounces, both in line with expectations. Consolidated copper sales are expected to approximate 750 million pounds, while gold sales are estimated at 100 thousand ounces due to a deferral of 60 thousand ounces from Indonesia. Unit net cash costs are projected to be approximately $2.10 per pound, reflecting lower by-product credits. U.S. operations faced disruptions from weather and power issues, while Indonesian smelter operations resumed in late August 2026 following a September 2025 incident. The company plans to release earnings on October 27, 2026. Freeport-McMoRan is a leading international mining company primarily engaged in the extraction of copper, gold, and molybdenum.
On September 1, 2026, PT Freeport Indonesia (PTFI), a 48.76%-owned subsidiary of Freeport-McMoRan Inc., amended and restated its $1.75 billion senior unsecured revolving credit facility to extend the maturity date from November 2028 to September 2031. As of the amendment date, PTFI had $250 million in borrowings outstanding under this facility, which is available for general corporate purposes. Freeport-McMoRan Inc. operates as a major copper and gold mining company.
Freeport-McMoRan reported second-quarter 2026 net income attributable to common stock of $984 million ($0.68 per share) and adjusted net income of $1.1 billion ($0.74 per share). Consolidated copper sales totaled 710 million pounds with an average realized price of $6.17 per pound. The company increased its ownership in Cerro Verde to 55.66% by purchasing 2.0 million shares for $107 million. During the quarter, FCX repurchased 1.7 million shares of its own common stock for $110 million. The company is progressing with the Grasberg Block Cave ramp-up and advancing growth projects at Bagdad and El Abra. Net debt as of June 30, 2026, was $2.1 billion, excluding $3.2 billion of debt for PTFI downstream facilities. The company operates in the mining industry, producing copper, gold, and molybdenum.
Freeport-McMoRan Inc. has secured a new, five-year, $3.0 billion senior unsecured revolving credit facility, replacing its prior credit arrangement and extending its financing runway until May 2031. This substantial financing provides the company with significant liquidity and operational flexibility, while maintaining a $500 million borrowing capacity for its Indonesian subsidiary. Investors should view this as a positive development, ensuring continued capital access for major projects and mitigating near-term funding risks.