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Why Freeport-McMoRan (FCX) Stock Is Down Today

Investivoq PriceTracker

Freeport-McMoRan (FCX) is down 3.1% today. Here is some analysis on what might have caused this price movement. ([investors.fcx.com](https://investors.fcx.com/investors/default.aspx))

Analysis: The most likely driver is a weaker copper tape rather than a fresh company-specific headline. FCX is highly sensitive to copper prices, and investors also may be weighing the company’s recently approved Bagdad expansion, which adds a large multiyear capital spending commitment even though the long-term production outlook improved. ([tradingeconomics.com](https://tradingeconomics.com/commodity/copper?utm_source=openai))

Details:

  • FCX’s investor page showed the stock trading lower on November 12, 2026, while recent company news did not show a new negative release today. ([investors.fcx.com](https://investors.fcx.com/investors/default.aspx))
  • Copper prices were softer around the session, and FCX’s cash flow is very exposed to the metal: the company says a $0.10 per pound change in copper can shift 2026 operating cash flow by about $330 million. ([tradingeconomics.com](https://tradingeconomics.com/commodity/copper?utm_source=openai))
  • On November 4, Freeport approved a $4.5 billion expansion and modernization program at Bagdad in Arizona, with initial production targeted for mid-2030. That is strategically positive, but some investors may be reacting to the size and timing of the spending. ([s22.q4cdn.com](https://s22.q4cdn.com/529358580/files/doc_news/2026/FCX_261104.pdf))
  • Freeport’s October 27 earnings release was fundamentally solid, which reinforces the view that today’s drop is more likely a commodity-price and positioning move than a new earnings shock. ([s22.q4cdn.com](https://s22.q4cdn.com/529358580/files/doc_news/2026/FCX_261027_3Q_2026_Earnings_Release.pdf))

    • Sources:

    Freeport-McMoRan, SEC, Trading Economics

    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 Insider Trades

    $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 Investivoq's insider trading dashboard. You can access data on insider stock transactions through the Investivoq API insider transaction endpoint.

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    $FCX Hedge Fund Activity

    We have seen 1,081 institutional investors add shares of $FCX stock to their portfolio, and 793 decrease their positions in their most recent quarter.

    Here are some of the largest recent moves:

    • VICTORY CAPITAL MANAGEMENT INC removed 9,935,701 shares (-60.9%) from their portfolio in Q3 2026, for an estimated $695,499,070
    • 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
    • JPMORGAN CHASE & CO removed 9,336,142 shares (-30.1%) from their portfolio in Q3 2026, for an estimated $653,529,940
    • 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

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

    $FCX Price Targets

    Multiple analysts have issued price targets for $FCX recently. We have seen 8 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 Investivoq's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.