Freeport-McMoRan's (NYSE:FCX) Outlook Amid Production Setbacks

Font: Financial Modeling Prep  • Oct 28, 2025

• Orest Wowkodaw from Scotiabank sets a price target of $51 for FCX, indicating a potential upside of approximately 22.95%.
• Despite operational challenges, Freeport-McMoRan reported strong third-quarter results, driven by high copper and gold prices.

Freeport-McMoRan (NYSE:FCX) is a leading mining company known for its significant copper and gold production. The company operates globally, with key assets like the Grasberg mine in Indonesia. Freeport-McMoRan faces competition from other major mining companies such as BHP and Rio Tinto. Despite challenges, it remains a significant player in the mining industry.

On October 28, 2025, Orest Wowkodaw from Scotiabank set a price target of $51 for FCX, suggesting a potential upside of approximately 22.95% from its current trading price of $41.48. 

The production issues at the Grasberg mine have impacted Freeport-McMoRan's operations, leading to a cautious outlook for 2025. Despite these challenges, the company reported strong third-quarter results, driven by high copper and gold prices. However, operational uncertainties and reduced guidance for 2025 have overshadowed these positive results.

Management anticipates a phased recovery, with the Grasberg Block Cave expected to resume operations in 2026. In the meantime, Freeport-McMoRan is implementing mitigation efforts to compensate for the lost production. The company's current stock price of $41.57 reflects a slight increase of approximately 1.13% or $0.47, with a trading range today between $40.50 and $41.95.

Over the past year, FCX has experienced a high of $49.21 and a low of $27.66, indicating significant volatility. The company's market capitalization is approximately $59.68 billion, with a trading volume of 5,613,063 shares on the NYSE. Despite the challenges, Freeport-McMoRan remains a key player in the mining sector, with potential for future growth.