Freeport-McMoRan (FCX)

Hold Recap: Q1 2026

Wet Ore Stalls the Restart and the Euphoria Breaks; With the 2041 MOU in Hand, We Step Back to Neutral

Underperform Recap: Q4 2025

Records Carry the Beat, but an All-Time-High Stock Into a Lost Year Is Where We Step Aside

Hold Recap: Q3 2025

A Tragedy at Grasberg Overshadows a Beat, and a Lost Year Comes Into View

Hold Recap: Q2 2025

Beat the Quarter, Faded the Tape: A Cost Windfall and a Tariff Tailwind Meet Peak Copper