Freeport-McMoRan stock: Grasberg recovery drives 2027 growth
Published on 10/30/2026 at 16:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSGrasberg sets the growth outlook
- Freeport-McMoRan lowered its 2026 and 2027 copper sales forecasts while leaving the 2028 estimate unchanged.
- Management targets 80 percent of Grasberg capacity by mid-2027 and near-full capacity by year-end.
- Higher copper prices supported quarterly profit despite lower sales volumes and rising unit costs.
Freeport-McMoRan posted a stronger third quarter on higher realized metal prices, while trimming its copper sales outlook for 2026 and 2027. The company continues to position the Grasberg recovery in Indonesia as the main source of volume growth through 2027.
Freeport-McMoRan stock traded at 56.20 euros on Lang & Schwarz at 16:34 CET on Friday, October 30, 2026. That is 5.18 percent below the 59.27 euros cited in the company's latest relevant report on October 28. The comparison reflects the move since that report and is separate from a daily exchange comparison.
Grasberg recovery remains central
In a report published on October 28, The Northern Miner said Freeport expects Grasberg to reach 80 percent of capacity by mid-2027 and approach full capacity by year-end. Mining rates at the Grasberg Block Cave averaged 70,000 tonnes per day in the third quarter, up from 53,000 tonnes in the second quarter.
The company expects fourth-quarter copper sales of 875 million pounds, making it the strongest quarter of 2026. Gold sales are expected to reach 300,000 ounces, nearly triple the third-quarter level, as the Indonesian operation continues its phased restart.
Lower outlook, higher investment
Freeport now projects consolidated copper sales of 3.0 billion pounds in 2026 and 3.7 billion pounds in 2027, below its July forecasts of 3.1 billion and 3.8 billion pounds. The 2028 estimate remains 4.1 billion pounds. The company cited lower production in the United States and Chile and updated mine plans.
Third-quarter net income attributable to common shareholders rose to 1.17 billion US dollars from 674 million US dollars a year earlier, while revenue increased to 7.55 billion US dollars. Adjusted earnings reached 88 cents per diluted share. Copper sales fell to 749 million pounds, but the realized copper price rose to 6.54 US dollars per pound from 4.68 US dollars.
Cost pressure remains a risk for investors. Unit net cash costs rose to 2.07 US dollars per pound from 1.40 US dollars, while capital spending is now expected at 4.4 billion US dollars in 2026 and 5.2 billion US dollars in 2027.
Freeport-McMoRan stock at a glance
- Company: Freeport-McMoRan Inc.
- ISIN: US35671D8570
- Ticker: FCX
- Home exchange: New York Stock Exchange
- Lang & Schwarz quote: 56.20 euros on Friday, October 30, 2026, at 16:34 CET
Investors can follow the real-time quote of Freeport-McMoRan stock as the Grasberg ramp-up develops.
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More news and analyses on Freeport-McMoRan stock cover the company's copper outlook and operating progress.
