Freeport-McMoRan (FCX) Q3 2026 earnings — TrendMatrix coverage
Reported
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Full disclosure · Editorial policy
Key numbers
- Adjusted EPS
- $0.88
- Estimate
- $0.83
- Surprise
- +5.9%
- Score at report (before → after)
- 5.5 → 5.4/10
Revenue for this quarter isn’t shown: the reported figure hasn’t cleared TrendMatrix’s freshness and sanity checks yet, and consensus revenue isn’t tracked. EPS above is the available figure.
How the report landed
Freeport-McMoRan (FCX) beat the $0.83 estimate with adjusted EPS of $0.88 — a clear 5.9% upside surprise. TrendMatrix's engine moved from Hold (5.5/10) to Sell at 5.4/10 after the report — the engine's score fell despite the beat.
Where TrendMatrix's rating stands now
TrendMatrix currently rates FCX Sell at 5.4/10.
4 of the last 4 quarters beat the estimate; this quarter's +5.9% surprise compares with a +23.3% four-quarter average.
What supports the rating
- Strong earnings beat streak (4/4)
What argues against it
- Concentration risk — Commodity: copper and gold
- Thin upside margin: 7.4%
- Sector modifier (Basic Materials): -0.1
This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.
The levels TrendMatrix's engine tracks
- Current price
- $65.95
- Price target
- $70.83
- Stop
- $62.08
- Upside to target
- +7.4%
- Reward-to-risk
- 1.0:1
The stock trades at 27.7× trailing but 15.2× forward earnings — consensus estimates already build in a substantial earnings recovery.
Model outputs from TrendMatrix’s engine as of 2026-10-28 — shown for context, not personalized investment advice.
FCX at TrendMatrix's latest read
Materials producers report against the commodity cycle — realized-price capture and volume, not the EPS line, are the tells in a quarter like this.
- Industry
- Copper
- Market cap
- $94.71B
- P/E (fwd)
- 15.2
- P/E (ttm)
- 27.7
- 52-week range
- $38.54–$80.24
- Off 52-week high
- 17.8%
- RSI (14)
- 31
- Volume vs avg
- 1.04×
- Score today
- 5.4/10