Freeport-McMoRan Inc. (FCX) is set to release its first-quarter 2026 earnings report on April 23, with a consensus estimate of 47 cents per share, reflecting a 95.8% year-over-year increase, despite an expected revenue decline to $5.61 billion, a 2% drop from the previous year.
FCX anticipates copper sales volumes at 640 million pounds, a 27% decline year-over-year, primarily due to disruptions at its Grasberg mine. Higher unit costs are also forecasted, with projected cash costs rising to $2.60 per pound, up from $2.22. The average realized copper price for the quarter is estimated at $5.70 per pound, a 28.3% increase from last year.
Over the past year, FCX shares have gained 106%, lagging behind the Zacks Mining – Non Ferrous industry, which increased by 117.4%. The company trades at a forward P/E of 24.82, slightly below the industry average of 25.
