Freeport-McMoRan Slides as Copper Retreats From Record Levels

Freeport-McMoRan Inc. (FCX) is down 7.5% today. Here is some analysis on what might have caused this price movement. ([ms.investing.com](https://ms.investing.com/news/stock-market-news/mengapa-saham-freeportmcmoran-jatuh-hari-ini-93CH-789272))

Analysis: The most likely driver is a pullback in copper prices after the metal’s sharp run to fresh highs, which tends to hit FCX harder because the company’s earnings and cash flow are highly sensitive to copper. There does not appear to be a new company-specific negative announcement driving the selloff, so this looks more like a commodity-linked reversal after a strong move higher earlier in the week. ([ms.investing.com](https://ms.investing.com/news/stock-market-news/mengapa-saham-freeportmcmoran-jatuh-hari-ini-93CH-789272))

Details:

Copper prices had surged to record territory on supply and tariff concerns, setting up elevated expectations for miners tied closely to the metal. ([axios.com](https://www.axios.com/2026/09/09/copper-price-tariffs-ai))

On September 10, copper eased from those highs as traders weighed whether the recent rally had become overextended, creating pressure on FCX shares. ([ms.investing.com](https://ms.investing.com/news/stock-market-news/mengapa-saham-freeportmcmoran-jatuh-hari-ini-93CH-789272))

Freeport’s filings show a $0.10 per pound move in average copper prices can have a large impact on annual operating cash flow, which helps explain the stock’s outsized reaction to commodity swings. ([sec.gov](https://www.sec.gov/Archives/edgar/data/831259/000083125926000023/fcx_arx2025xfinal.pdf?utm_source=openai))

The latest disclosed company update was a September 8 filing about extending a subsidiary credit facility maturity to 2031, which reads as routine rather than a clear negative catalyst. ([sec.gov](https://www.sec.gov/Archives/edgar/data/831259/000083125926000038/0000831259-26-000038.txt))

Sources:

SEC, Freeport-McMoRan Investor Relations, Axios

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 5 times in the past 6 months. Of those trades, 0 have been purchases and 5 have been sales.

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

DOUGLAS N. II CURRAULT (EVP & General Counsel) sold 80,000 shares for an estimated $6,284,464
STEPHEN T. HIGGINS (EVP & CAO) has made 0 purchases and 2 sales selling 21,827 shares for an estimated $1,467,901.
ELLIE L. MIKES (Chief Accounting Officer) sold 4,773 shares for an estimated $334,110
LYDIA H KENNARD sold 3,798 shares for an estimated $300,470

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$FCX Hedge Fund Activity

We have seen 1,024 institutional investors add shares of $FCX stock to their portfolio, and 838 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

JPMORGAN CHASE & CO added 30,998,642 shares (+inf%) to their portfolio in Q2 2026, for an estimated $1,949,504,595
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 9,381,694 shares (+inf%) to their portfolio in Q2 2026, for an estimated $590,014,735
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP removed 9,380,069 shares (-83.4%) from their portfolio in Q2 2026, for an estimated $589,912,539
D. E. SHAW & CO., INC. removed 7,557,495 shares (-58.6%) from their portfolio in Q2 2026, for an estimated $475,290,860
BANK OF AMERICA CORP /DE/ removed 5,944,328 shares (-14.0%) from their portfolio in Q2 2026, for an estimated $373,838,787
CAPITAL WEALTH PLANNING, LLC added 5,317,798 shares (+116823.3%) to their portfolio in Q2 2026, for an estimated $334,436,316
VALUE ALIGNED RESEARCH ADVISORS, LLC removed 4,421,462 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $278,065,745

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$FCX Congressional Stock Trading

Members of Congress have traded $FCX stock 2 times in the past 6 months. Of those trades, 2 have been purchases and 0 have been sales.

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

REPRESENTATIVE JOSH GOTTHEIMER purchased up to $15,000 on 04/15.
SENATOR ALAN ARMSTRONG purchased up to $15,000 on 03/27.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$FCX Price Targets

Multiple analysts have issued price targets for $FCX recently. We have seen 10 analysts offer price targets for $FCX in the last 6 months, with a median target of $77.0.

Here are some recent targets:

Bill Peterson from JP Morgan set a target price of $77.0 on 07/09/2026
Lawson Winder from B of A Securities set a target price of $80.0 on 07/09/2026
Nick Cash from Goldman Sachs set a target price of $74.0 on 07/09/2026
Carlos De Alba from Morgan Stanley set a target price of $70.0 on 07/08/2026
Daniel Major from UBS set a target price of $77.0 on 06/30/2026
Orest Wowkodaw from Scotiabank set a target price of $77.0 on 06/15/2026
Bob Brackett from Bernstein set a target price of $58.5 on 06/10/2026

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.