With a market cap of $59.6 billion, Freeport-McMoRan Inc. (FCX) is a leading international mining company engaged in the exploration, development, and production of copper, gold, molybdenum, and silver. With major operations across North America, South America, and Indonesia, its key assets include the Grasberg mine in Indonesia, home to the world’s largest copper and gold reserves. 

Companies worth more than $10 billion are generally labeled as “large-cap” stocks and Freeport-McMoRan fits this criterion perfectly. The company conducts its business through subsidiaries such as PT Freeport Indonesia, Freeport-McMoRan Corporation, and Atlantic Copper.

Shares of the Phoenix, Arizona-based company have fallen 21.2% from its 52-week high of $52.61. FCX stock has increased 10.1% over the past three months, closely mirroring the Ishares Copper And Metals Mining ETF’s (ICOP) performance over the same time frame. 

In the longer term, the mining company stock is up 8.9% on a YTD basis, lagging behind ICOP’s 14.7% return. In addition, shares of Freeport-McMoRan have dropped 19.1% over the past 52 weeks, a steeper decline than ICOP’s 6.4% dip over the same time frame.

Despite few fluctuations, the stock has been trading mostly below its 50-day and 200-day moving averages since early-November last year.

Shares of Freeport-McMoRan climbed 6.9% on Apr. 24 following strong Q1 2025 results, including a profit of $0.24 per share that met expectations and revenue of $5.7 billion that beat forecasts. The company reported copper sales of 872 million pounds, exceeding guidance, and highlighted a favorable U.S. pricing environment, with COMEX copper trading at a 13% premium over LME, significantly boosting EBITDA. 

Additionally, investors responded positively to strategic updates, including progress on the Indonesian smelter, leach technology targeting up to 800 million pounds annually, and reaffirmed 2025 guidance with expected operating cash flows of $7 billion.

In contrast, rival Southern Copper Corporation (SCCO) has lagged behind Freeport-McMoRan on a YTD basis, with a gain of nearly 5%. However, over the past 52 weeks, SCCO shares have declined 16%, a smaller drop than FCX’s decline. 

Although the stock’s underperformance over the past year, analysts remain moderately optimistic about its prospects. The stock has a consensus rating of “Moderate Buy” from 17 analysts' coverage, and as of writing, FCX is trading below the mean price target of $46.76.