Freeport-McMoRan hits Q3 copper targets; copper futures head for weekly loss (FCX:NYSE)

Freeport-McMoRan (FCX) reported Q3 2026 production and sales. Copper production was 830M lbs, gold 230K oz, both in line with expectations. Q3 sales are expected to match July estimates: 750M lbs copper, 100K oz gold. FCX sees growth opportunities, including Grasberg recovery. Pre-market, FCX traded at $70.50, up 1.73%.

FREEPORT-MCMORAN INC (FCX) filed an SEC Form 8-K — Results of Operations and Financial Condition. 1 Freeport Provides Third-Quarter 2026 Operational Update  Third-quarter 2026 consolidated copper and gold production approximated expectations  Third-quarter 2026 consolidated copper sales expected to approximate July estimates; consolidated gold sales impacted by timing in In

Freeport (FCX) reported Q3 2026 copper production of 830M lbs, meeting expectations, with an estimated average realized price exceeding $6.50 per lb. About 60K oz of gold sales were deferred to Q4, and unit net cash costs are expected to be 5% higher than the July estimate of $2.00/lb.

Freeport-McMoRan (FCX) is testing new technologies to boost copper production from stockpiles, aiming to increase annual leach output to 800M pounds over 3-4 years. The company is also evaluating an expansion at its Bagdad mine in Arizona, pending a board review. In Indonesia, Grasberg mine is recovering from a mud rush incident and expects full capacity by late 2027. FCX is also operating two smelters in Indonesia. U.S. copper tariffs remain uncertain, and the company plans to allocate half of

Freeport-McMoRan (FCX) reported higher Q2 earnings due to increased metal prices, but faces rising production costs. Q2 unit net cash costs rose 74% YoY to $1.97 per pound, with Q3 expected at $2. Copper sales volumes fell 30% YoY to 710M pounds. FCX projects full-year average costs of $1.9 per pound, up from $1.65 in 2025. Peers like Southern Copper (SCCO) and BHP (BHP) reported mixed cost trends.

Freeport-McMoRan's stock dropped nearly 8% to $70.43 after a Reuters report indicated uncertainty around U.S. copper import tariffs. The decline followed a record copper rally, with futures reaching $6.89 per pound. Analysts note the rally may have outpaced fundamentals, and the company faces operational challenges. Other copper producers and ETFs also saw declines.