Freeport-McMoRan (FCX) sinks as investors weigh Grasberg disruption risk and recent insider selling

Freeport-McMoRan (FCX) is down 10.5% today. Here is some analysis on what might have caused this price movement.

Analysis: The drop appears tied to renewed investor caution around Freeport’s near-term volume and cost outlook following the 2025 fatal mud-rush disruption at its Grasberg operation, with the market potentially repricing execution risk ahead of the planned 2026 restart ramp. This could also be amplified by profit-taking after a strong recent run in the shares and sensitivity to day-to-day swings in copper sentiment.

Details:

Recent quarterly results showed higher profit despite sharply lower production, as Grasberg operations were temporarily suspended following the September 2025 mudslide and the company focused on recovery work.

The company outlined that Grasberg’s phased restart is expected to begin in 2026, and that a large portion of expected output would be weighted toward the second half of the year, which can increase uncertainty around quarterly results.

Recent insider-trading disclosures showed an executive’s related trust sold shares in late February 2026, which can sometimes contribute to a more cautious read-through when a stock is volatile.

This could also be because copper-related equities often move with broader commodity risk appetite, so a risk-off session can pressure miners even without company-specific news.

Sources:

The Wall Street Journal, SEC EDGAR, Stock Titan

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$FCX Insider Trading Activity

$FCX insiders have traded $FCX stock on the open market 9 times in the past 6 months. Of those trades, 0 have been purchases and 9 have been sales.

Here’s a breakdown of recent trading of $FCX stock by insiders over the last 6 months:

RICHARD C ADKERSON (Chairman of the Board) has made 0 purchases and 3 sales selling 400,991 shares for an estimated $25,464,329.
DOUGLAS N. II CURRAULT (EVP & General Counsel) sold 75,000 shares for an estimated $4,838,812
STEPHEN T. HIGGINS (EVP & CAO) has made 0 purchases and 2 sales selling 58,077 shares for an estimated $3,232,102.
MAREE E. ROBERTSON (EVP & CFO) sold 48,500 shares for an estimated $2,985,175
ELLIE L. MIKES (Chief Accounting Officer) has made 0 purchases and 2 sales selling 20,572 shares for an estimated $1,138,547.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$FCX Hedge Fund Activity

We have seen 873 institutional investors add shares of $FCX stock to their portfolio, and 769 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 19,921,213 shares (-75.8%) from their portfolio in Q4 2025, for an estimated $1,011,798,408
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 9,924,573 shares (+98.8%) to their portfolio in Q4 2025, for an estimated $504,069,062
FRANKLIN RESOURCES INC added 8,891,743 shares (+31.2%) to their portfolio in Q4 2025, for an estimated $451,611,626
JANE STREET GROUP, LLC removed 7,253,817 shares (-88.9%) from their portfolio in Q4 2025, for an estimated $368,421,365
AMUNDI added 7,192,955 shares (+102.5%) to their portfolio in Q4 2025, for an estimated $365,330,184
CAPITAL RESEARCH GLOBAL INVESTORS removed 6,848,218 shares (-16.3%) from their portfolio in Q4 2025, for an estimated $347,820,992
JPMORGAN CHASE & CO removed 6,454,805 shares (-42.8%) from their portfolio in Q4 2025, for an estimated $327,839,545

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$FCX Congressional Stock Trading

Members of Congress have traded $FCX stock 3 times in the past 6 months. Of those trades, 2 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $FCX stock by members of Congress over the last 6 months:

REPRESENTATIVE GILBERT RAY CISNEROS, JR. has traded it 2 times. They made 2 purchases worth up to $30,000 on 11/18, 10/17 and 0 sales.
REPRESENTATIVE LISA C. MCCLAIN sold up to $15,000 on 09/25.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

$FCX Analyst Ratings

Wall Street analysts have issued reports on $FCX in the last several months. We have seen 10 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Argus Research issued a "Buy" rating on 02/13/2026
Citigroup issued a "Buy" rating on 01/12/2026
Morgan Stanley issued a "Overweight" rating on 11/19/2025
BMO Capital issued a "Outperform" rating on 11/19/2025
Scotiabank issued a "Sector Outperform" rating on 11/19/2025
Wells Fargo issued a "Overweight" rating on 10/08/2025
UBS issued a "Buy" rating on 10/03/2025

To track analyst ratings and price targets for $FCX, check out Quiver Quantitative's $FCX forecast page.

$FCX Price Targets

Multiple analysts have issued price targets for $FCX recently. We have seen 12 analysts offer price targets for $FCX in the last 6 months, with a median target of $52.0.

Here are some recent targets:

Orest Wowkodaw from Scotiabank set a target price of $72.0 on 02/20/2026
Daniel Major from UBS set a target price of $70.0 on 01/23/2026
Bob Brackett from Bernstein set a target price of $54.0 on 01/23/2026
Timna Tanners from Wells Fargo set a target price of $64.0 on 01/13/2026
Alexander Hacking from Citigroup set a target price of $67.0 on 01/12/2026
Bill Peterson from JP Morgan set a target price of $68.0 on 01/08/2026
Carlos De Alba from Morgan Stanley set a target price of $44.0 on 11/19/2025

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.