Freeport-McMoRan slides as copper-linked names pull back and investors refocus on near-term Indonesia volume risk

Freeport-McMoRan Inc. (FCX) is down 3.1% today. Here is some analysis on what might have caused this price movement.

Analysis: FCX often trades as a high-beta proxy for copper, and a pullback in copper pricing and broader risk sentiment can quickly pressure the stock. Separately, investors continue to weigh the company’s reduced near-term contribution from Indonesia following the 2025 Grasberg disruption and the timing of the 2026 ramp-up.

Details:

Copper futures trading and daily price updates showed renewed choppiness in copper around March 11, which can mechanically impact miners’ near-term earnings expectations and sentiment.

The company has said the phased restart and ramp of Grasberg’s block-cave production is expected to begin in the second quarter of 2026, leaving a period where Indonesian volumes remain limited versus historical levels.

Recent SEC insider filings showed a transfer of shares tied to the expiration of a grantor retained annuity trust (GRAT), which can be read by some market participants as incremental insider-related supply even when it is not an open-market sale.

Sources:

Associated Press, Freeport-McMoRan Investor Relations, U.S. SEC

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 871 institutional investors add shares of $FCX stock to their portfolio, and 771 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
Scotiabank issued a "Sector Outperform" rating on 11/19/2025
Morgan Stanley issued a "Overweight" rating on 11/19/2025
BMO Capital issued a "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
Katja Jancic from BMO Capital set a target price of $47.0 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.