Freeport-McMoRan Reports Solid Copper Output in Q3 2026

Freeport-McMoRan Inc. (ISIN US35671D8570) reported a copper production of 830 million pounds for Q3 2026, aligning with market expectations. The company's stock closed at USD 72.62 on the NYSE on October 5, 2026. The update also highlighted the progress at the Grasberg mine, where recovery efforts are ongoing but throughput remains below pre-incident levels.

According to Yahoo Finance, Freeport-McMoRan produced 230,000 ounces of gold during the same quarter. Copper sales are projected to reach 750 million pounds, matching previous estimates, while gold sales are expected to be lower due to a delay in refined gold sales moving into Q4. The average realized copper price is anticipated to exceed USD 6.50 per pound, though unit net cash costs are expected to be 5 percent higher than initially estimated due to lower by-product credits.

The Grasberg mine's mill throughput averaged 140,000 metric tons of ore per day in Q3 2026, which is 67 percent of normalized rates following the September 2025 incident. The Grasberg Block Cave contributed 70,000 metric tons per day. Freeport-McMoRan aims to restore 80 percent of Grasberg's capacity by mid-2027 and near-full capacity by the end of 2027. The Eastern Java smelter, restarted in late August 2026, can now produce up to 800,000 metric tons of copper cathode annually.

The company is set to release its Q3 2026 earnings on October 27, 2026. In Q2 2026, Freeport-McMoRan reported revenue of USD 7.03 billion, surpassing expectations of USD 6.62 billion, with an adjusted EPS of USD 0.74 against a consensus estimate of USD 0.62. Analysts have a Moderate Buy consensus with an average price target of USD 72.87, slightly above the current stock price.