Freeport-McMoRan Inc (NYSE: FCX.N) shares rose about 0.9 percent to $60.58 in early trading on Thursday, after the copper producer reported fourth-quarter earnings that exceeded analysts’ forecasts. The stock has recovered sharply over the past year from around $27.66 at its 52-week low to this week’s levels, reflecting gains in copper prices and improved sentiment in the mining sector.
Quarterly Results
Freeport reported adjusted Q4 2025 earnings of $0.47 per share, well above the average analyst estimate of $0.29. Revenue for the quarter was $5.63 billion, also ahead of market expectations and above the roughly $5.42 billion consensus. The quarterly average realized copper price climbed to about $5.33 per pound, up significantly from the prior year, supporting profitability.
The company’s mining output remains pressured by operational challenges at key sites, but higher commodity prices helped offset production headwinds. Freeport’s gross and net margins improved sequentially as realized metal prices rose. Output for the quarter included copper and by-product gold and molybdenum, though full production data will be detailed in the call.
Year-Over-Year and Full-Year Context
For the full year 2025, Freeport reported annual revenues near $25.9 billion and net income in the billions, driven by strong metals pricing across key markets. Revenue growth outpaced some peer estimates, while adjusted full-year earnings reflected improved commodity realizations versus 2024.
Stock and Market Trends
The shares’ performance this week follows a strong run in 2025, with the stock gaining substantially as copper prices approached record highs and supply constraints tightened market conditions. The 52-week range underscores heightened volatility in mining sector equities tied to commodity cycles.
Earnings Call and Guidance
Freeport held its Q4 2025 earnings call Thursday morning. Management reiterated operational priorities and discussed phased restart plans for key Indonesian operations. Nitrogen and cost management initiatives were cited as strategic focal points for 2026 delivery.
Analyst Actions
At the time of reporting there were no widely reported analyst upgrades or downgrades tied directly to today’s results. Broker commentary ahead of the release showed mixed forecasts on near-term earnings, though several had revised estimates upward in recent sessions.
