Freeport-McMoRan Option Alert: May 16 $42 Calls Sweep (76) above Ask!: 4250 vs 2682 OI

Freeport-McMoRan Option Alert: May 16 $42 Calls Sweep (76) above Ask!: 4250 @ $2.161 vs 2682 OI; Ref=$39.71

Freeport-McMoRan (NYSE:FCX) 주식

FREEPORT-MCMORAN INC

Freeport-McMoRan

Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona. It sold around 1.2 million metric tons of copper (its share) in 2024, making it the one of the world's largest copper miners by volume. It also sold about 900,000 ounces of gold, mostly from Grasberg, and 70 million pounds of molybdenum. It had about 25 years of copper reserves at end December 2024. we expect it to sell similar amounts of copper midcycle in 2029, though we expect gold volumes to decline to about 700,000 ounces then due to falling production at Grasberg.

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연말 연휴 시즌이지만, 이번 주 주식 시장의 축제 분위기는 그리 유쾌하지 않았다. 주 초에는 나스닥 100이 22,000을 돌파하며 사상 최고치를 기록하고, 연방준비제도(연준) 회의를 앞두고 금리 인하에 대한 낙관적인 전망으로 트레이더들이 고무된 상황이었다.

산타 랠리를 위해 그린치와 싸우는 트레이더들: 연말 급등을 예상하는 S&amp;P 500 주식 10개

copper ai

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프리포트 맥모란(NYSE:FCX)의 주식이 하락세의 중요한 이정표인 데스 크로스를 찍었다. 이는 50일 지수 이동 평균선이 200일 이동 평균선 아래로 떨어지는 기술적 신호로, 종종 장기적인 매도 압박을 예고하는 것으로 여겨진다. FCX 주식의 최근 성과는 낙관적이지 않다.

프리포트 맥모란의 데스 크로스: 거대 구리 생산 기업의 결정적인 순간

xr:d:DAE9HpS4rJc:8008,j:44322639808,t:22122816

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산타 랠리는 주식 시장의 계절적 트렌드를 나타내며, 역사적으로 마지막 12월에 주식들이 더 강한 상승세를 보이는 현상이다. 이는 연말 휴가의 기쁨, 연말 포트폴리오 재조정 및 투자자 낙관주의 등에 의해 촉발되는 경우가 많으며, 수십 년에 걸쳐 반복되는 패턴이다.

산타 랠리: 12월 후반부에 우수한 성과를 거둔 S&amp;P 500 주식 10종목

Freeport-McMoRan Inc

First Capital REIT

Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) has outperformed the market over the past 5 years by 25.78% on an annualized basis producing an average annual return of 42.7%. Currently, Freeport-McMoRan has a market capitalization of $57.40 billion. 
Buying $1000 In FCX: If an investor had bought $1000 of FCX stock 5 years ago, it would be worth $6,400.64 today based on a price of $39.94 for FCX at the time of writing.
<h3>Freeport-McMoRan's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1743171308_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

News

$1000 Invested In This Stock 5 Years Ago Would Be Worth This Much Today

U.S. tariffs on copper imports could arrive within weeks. In February, President Donald Trump directed the U.S. Commerce Department to<a href="https://www.benzinga.com/25/03/44414283/copper-surges-as-arbitrage-opportunity-drives-us-imports"> conduct an investigation</a>, giving this executive department a nine-month deadline.
Per a Bloomberg<a href="https://www.bloomberg.com/news/articles/2025-03-26/trump-may-implement-copper-import-tariffs-within-weeks"> report</a>, the investigation is seen as "little more than a formality.&#8221; An announcement is likely to come well ahead of the November deadline.
The proposed tariffs, which could reach as high as 25%, would shift the global copper market. The US is a major copper consumer, needing between 1.7 and 1.9 million metric tons annually. Yet, it produces less than half of that, relying on Chile, Canada, and Peru for 90% of its imports.
Rising copper costs would boost domestic producers like Freeport McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>). They could also be a catalyst for resolving the standstill in Arizona. Recall how Native American opposition stalled Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) and BHP's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) Resolution Copper mine located in the southern part of the Tonto National Forest—a $64 billion flagship project that could supply 25% of projected future domestic copper demand.
The looming tariffs have triggered a surge in U.S. copper imports, as traders rush to front-run potential duties. According <a href="https://www.reuters.com/markets/commodities/us-copper-imports-soar-500000-tons-amid-tariff-threats-says-bloomberg-2025-03-24/">to</a> Mercuria, around 500,000 metric tons of copper are en route to the U.S. That far exceeds the usual monthly average of 70,000 tons, Reuters noted.
This situation has driven up prices on New York's COMEX exchange, where copper trades at a record $1,400 premium over the London Metal Exchange (LME) benchmark. Unforeseen circumstances further tightened the supply, as Glencore paused its major Chilean copper smelter after experiencing furnace issues.
Investment banks and commodity traders expect further price increases if tariffs are imposed. Goldman Sachs and Citigroup have both forecast that a 25% duty could be in place<a href="https://www.benzinga.com/news/guidance/25/03/44271394/goldman-sachs-sees-copper-imports-increasing-tariffs-as-fcx-positions-to-benefit"> by year-end</a>, while Trafigura has projected that copper prices could climb to $12,000 per ton from the current level of around $10,000, as reported<a href="https://www.ft.com/content/e4f4a52c-9449-4b2a-887d-540e37f7b9bc"> by</a> The Financial Times.
Trump, however, has remained vague on the timing of the tariff announcement. On March 5, he mistakenly implied that copper tariffs were already in effect, saying, "I imposed a 25% tariff on foreign aluminum, steel, lumber, and copper."
Besides this slip, he remained vague about potential tariff exceptions ahead of the April 2 announcement, touted as a "Liberation Day" for US trade policy. First, he took a strict tone against tariff exceptions, before softening the stance in a Tuesday interview for Newsmax,
"I'll probably be more lenient than reciprocal because if I was reciprocal, that would be very tough for people," he said, according<a href="https://www.cnbc.com/2025/03/26/trump-says-tariffs-coming-in-april-will-probably-be-more-lenient-than-reciprocal.html"> to</a> CNBC.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/legal/25/03/44490949/gold-ma-deals-are-accelerating-but-average-deals-are-smaller-research-shows">Gold M&amp;A Deals Are Accelerating, But Average Deals Are Smaller, Research Shows</a></li>
</ul>
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Trump's Copper Tariffs Might Come Sooner Rather Than Later, Insiders Warn

Wall Street&#8217;s recovery from its recent technical correction paused for a breather on Tuesday, as investors awaited more clarity on tariff developments and digested a <a href="https://www.benzinga.com/government/regulations/25/03/44475192/consumer-confidence-falls-to-lowest-since-2022-as-inflation-tariff-worries-grow">downbeat consumer confidence report.</a>
The Conference Board's Consumer Confidence Index dropped to 92.9 in March, <a href="https://www.benzinga.com/government/regulations/25/03/44475192/consumer-confidence-falls-to-lowest-since-2022-as-inflation-tariff-worries-grow">its lowest reading since late 2022</a>. The Expectations Index plunged to 65.2 — a level not seen since 2013 — reflecting growing pessimism. The report cited rising prices, especially for eggs and tariff-affected goods, as key concerns. Inflation expectations also climbed, from 5.8% in February to 6.2% in March.
The S&amp;P 500 and Dow were flat on the day, while the Nasdaq 100 edged slightly higher, supported by gains in cybersecurity stocks.
Copper took center stage, jumping over 2% to hit new record highs. Demand is surging in both China and the U.S., fueled by<a href="https://www.benzinga.com/government/regulations/25/03/44476803/copper-breaks-records-on-china-stimulus-tariff-hype-these-stocks-are-riding-the-wave"> policy stimulus and tariff-related shifts.</a>
Shares of Freeport McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>), the largest U.S. copper miner, rose 3.3%, extending gains in 10 of the last 11 sessions. The Global X Copper Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>) climbed 2% to a three-month high.
Elsewhere, market moves were subdued. Gold gained 0.5%, silver advanced 1.8% and oil dipped 0.4% after Monday's 1.2% jump driven by Venezuelan sanctions.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) posted a modest 0.4% gain.
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,256.36</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,619.75</td>
<td>0.1 %</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,770.02</td>
<td>0.0%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,101.68</td>
<td>-0.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 1:00 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) inched 0.1% higher to $575.17.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) flattened at $425.79.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rose 0.4% to $492.89.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) eased 0.2% to $208.51</li>
<li>The&nbsp;Communication Services&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 1.2%; the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)&nbsp;lagged, down 1.7%.</li>
</ul>
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
<ul>
<li>CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) climbed 4% after BTIG analyst Gray Powell upgraded the stock to Buy, setting a price target of $431. The analyst cited expectations of robust revenue growth heading into fiscal 2027. Cybersecurity peer Zscaler Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>) also rose 2.5%.</li>
<li>Cloudflare Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>) rose 2.2% after receiving a double upgrade to Buy from Bank of America Securities, with a price target raised to $160.</li>
<li>United Parcel Service Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) tumbled 4.6%, hitting early-February lows despite a lack of headlines.</li>
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) rose 2.1% after Goldman Sachs raised the stock price target from $29 to $31. </li>
<li>Gamestop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) is slated to<a href="https://www.benzinga.com/general/gaming/25/03/44466706/gamestop-q4-earnings-preview-will-video-game-retailer-unveil-bitcoin-purchase"> report earnings after the close</a>.</li>
</ul>
Read Now: 
<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/03/44473410/trumps-tariff-rates-could-be-double-what-market-participants-expect-goldman-sachs-warns">Trump&#8217;s Tariff Rates Could Be &#8216;Double What Market Participants Expect,&#8217; Goldman Sachs Warns</a></li>
</ul>
Photo: Mer_Studio via Shutterstock

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Wall Street Pauses For A Breather, Miners Rally As Copper Notches All-Time Highs: What's Driving Markets Tuesday?

Copper just blew past record highs, dismissing recent recession fears as stimulus optimism in China and potential U.S. tariffs spark a rush <a href="https://www.benzinga.com/markets/commodities">into the red metal.</a>
Copper futures traded at the New York Mercantile Exchange rallied 1.6% to $5.17 per pound on Tuesday, notching historical records. 
<h1 class="wp-block-heading">What's Fueling Copper's Relentless Climb?</h1>
Often dubbed &#8220;Dr. Copper&#8221; for its reputation as a proxy for global industrial health, the metal has surged as traders bet on a brighter economic outlook in China and react to tariff risks.
"Tariff threats, tightening supply, and stimulus-fueled optimism for an economic rebound in China have underpinned a rally in copper," said Adam Turnquist, chief technical strategist for LPL Financial. 
&#8220;Beijing's pro-growth agenda is beginning to show up in the economic data, evidenced by recent better-than-expected retail sales, industrial output, and fixed-asset investment,&#8221; he added.
Turnquist indicated markets are already "front-running" the potential copper tariff ordered under former President Donald Trump's direction, even though an official recommendation isn't expected until later this year.
Bloomberg data shows that between 100,000 and 150,000 metric tons of copper are en route to the U.S., the highest inbound volume on record. That flood of demand has pushed the COMEX copper premium over LME copper to its highest point ever, indicating intense physical buying interest in the U.S. market.
David&nbsp;Goldman, head of trading at Novion Global, also pointed to dollar weakness as a factor boosting copper prices. 
&#8220;Whilst LME&nbsp;copper&nbsp;is up around 14% from the start of the year, COMEX prices have seen a 27% jump, prompting traders and producers to move supplies to the US,&#8221; he said.
&#8220;The price squeeze is also being replicated on the Shanghai Futures Exchange, where the front month spread is trading at levels not seen since December 2023.&#8221;
<h1 class="wp-block-heading">China&#8217;s Recovery and Strategic Buying Add Fuel to the Fire</h1>
Adding further momentum is a shift in tone out of Beijing. Goldman Sachs analyst Daan Struyven said, "China sentiment has turned notably more positive" thanks to the government's focus on boosting household consumption, lower-than-expected U.S. tariffs and a surge of investor excitement around artificial intelligence.
Importantly, Struyven flagged reports that China's State Reserve Bureau plans to replenish copper stockpiles in 2025. While not purely opportunistic, this buying could cushion any price-sensitive demand drop in China. 
"We remain structurally bullish," said Struyven, who sees the LME's ongoing tightening and strong electrification trends driving prices higher in the months ahead.
<h1 class="wp-block-heading">Copper Chart Breaks Out — And So Do The Stocks</h1>
The price move has also broken a key technical level. 
According to LPL Financial's Turnquist, copper futures have surged past the highs of 2021–2022, completing a "head and shoulders" bottom pattern that hints at more upside ahead. 
Speculative flows are also favoring the bulls. Hedge funds and other large speculators have largely unwound their short positions, while long bets have picked up in recent months, supporting the momentum.
That enthusiasm has spilled into equity markets. Freeport-McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>), one of the world's largest copper producers, has climbed 13% in March, on track for its best monthly performance in a year. Southern Copper Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>) is also up 12% over the same period, riding the wave of investor optimism.
Traders looking for broad copper exposure may consider the Global X Copper Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>), which has historically showed strong rallies April. Over the past 15 years, the ETF has gained an average of 4.5% during the month — its strongest seasonal trend of the year.
Read Next: •<a href="https://www.benzinga.com/government/regulations/25/03/44463509/ukraines-recovery-depends-on-sustainable-investment-experts-call-for-trilateral-minerals-deal"> &#8216;Ukraine&#8217;s Recovery Depends On Sustainable Investment,&#8217; Experts Call For Trilateral Minerals Deal</a>
Photo: Shutterstock

Global

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Copper Breaks Records On China Stimulus, Tariff Hype: These Stocks Are Riding The Wave

Investors with a lot of money to spend have taken a bullish stance on Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with FCX, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://www.benzinga.com/pro/">Benzinga</a>'s options scanner spotted 48 uncommon options trades for Freeport-McMoRan.
This isn't normal.
The overall sentiment of these big-money traders is split between 58% bullish and 35%, bearish.
Out of all of the special options we uncovered, 12 are puts, for a total amount of $860,398, and 36 are calls, for a total amount of $3,926,932.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $33.0 to $55.0 for Freeport-McMoRan over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
In today's trading context, the average open interest for options of Freeport-McMoRan stands at 11157.0, with a total volume reaching 337,160.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Freeport-McMoRan, situated within the strike price corridor from $33.0 to $55.0, throughout the last 30 days.
<h3>Freeport-McMoRan Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1742841050_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$0.55</td>
<td>$0.53</td>
<td>$0.6</td>
<td>$50.00</td>
<td>$1.3M</td>
<td>87.2K</td>
<td>52.3K</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/16/25</td>
<td>$1.27</td>
<td>$1.22</td>
<td>$1.22</td>
<td>$46.00</td>
<td>$298.1K</td>
<td>1.2K</td>
<td>2.5K</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$0.96</td>
<td>$0.81</td>
<td>$0.83</td>
<td>$50.00</td>
<td>$215.5K</td>
<td>13.2K</td>
<td>2.6K</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$5.85</td>
<td>$5.75</td>
<td>$5.75</td>
<td>$40.00</td>
<td>$189.7K</td>
<td>3.1K</td>
<td>385</td>
</tr>
<tr>
<td>FCX</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$1.2</td>
<td>$1.16</td>
<td>$1.16</td>
<td>$39.00</td>
<td>$173.9K</td>
<td>4.4K</td>
<td>2.1K</td>
</tr>
</tbody>
</table>

<h3>About Freeport-McMoRan</h3>
Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona. It sold around 1.2 million metric tons of copper (its share) in 2024, making it the one of the world's largest copper miners by volume. It also sold about 900,000 ounces of gold, mostly from Grasberg, and 70 million pounds of molybdenum. It had about 25 years of copper reserves at end December 2024. we expect it to sell similar amounts of copper midcycle in 2029, though we expect gold volumes to decline to about 700,000 ounces then due to falling production at Grasberg.
<h3>Present Market Standing of Freeport-McMoRan</h3>
<ul>
<li>Trading volume stands at 11,697,337, with FCX's price up by 3.88%, positioned at $41.81.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 29 days.</li>
</ul>
<h3>Professional Analyst Ratings for Freeport-McMoRan</h3>
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $49.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; An analyst from JP Morgan upgraded its action to Overweight with a price target of $52. 
&#x2A; An analyst from Jefferies upgraded its action to Buy with a price target of $48. 
&#x2A; An analyst from Deutsche Bank has elevated its stance to Buy, setting a new price target at $47. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Freeport-McMoRan options trades with real-time alerts from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.

Options

Freeport-McMoRan Options Trading: A Deep Dive into Market Sentiment

On Thursday, J.P. Morgan analyst Bill Peterson upgraded Freeport-McMoRan, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) to an Overweight rating from Neutral and raised the <a target="_blank" href="https://www.benzinga.com/quote/fcx/analyst-ratings" rel="noreferrer noopener">price forecast to $52 from $48</a>.
The bullish stance reflects the analyst&#8217;s view that tariff-related factors will sustain premium pricing for the company&#8217;s U.S.-based operations, alongside long-term supply constraints that support a strong pricing environment across the industry.
Since President Trump&#8217;s February 25 announcement that the Department of Commerce would assess whether U.S. copper imports present a national security risk, COMEX copper has maintained an average premium of approximately 10% over LME prices, adds the analyst.
Peterson notes that the review is still in progress, with a conclusion expected by November 22.
Read: <a target="_blank" href="https://www.benzinga.com/25/03/44414283/copper-surges-as-arbitrage-opportunity-drives-us-imports" rel="noreferrer noopener">Copper Surges As Arbitrage Opportunity Drives US Imports</a>
This is poised to directly benefit Freeport-McMoRan&#8217;s U.S. operations, which contribute around 10% of its operating profit for FY24 and an even higher 20% of post-tax earnings due to net operating loss (NOL) benefits, adds the analyst.
Peterson notes the trajectory of Trump 2.0 trade policy suggests a high likelihood of protective measures for U.S. copper imports.
Nevertheless, even if such policies do not materialize, Freeport-McMoRan still remains well-positioned compared to pure-play peers to capitalize on near-term upside opportunities, adds the analyst.
The analyst sees an attractive risk/reward balance given the the expected resumption of concentrate exports and record gold prices boosting by-product credits at the Grasberg mine.
Going forward, Peterson says that his Commodities team projects widening supply deficits this year and accelerating into the next decade, reinforcing a favorable long-term outlook for copper pricing.
Investors can gain exposure to the stock via&nbsp;Sprott Copper Miners ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COPP#NASDAQ">COPP</a>) and&nbsp;Themes ETF Trust Themes Copper Miners ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/COPA#BATS">COPA</a>).
Price Action: FCX shares are down 3.24% at $39.38 at the last check Friday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/guidance/25/03/44271394/goldman-sachs-sees-copper-imports-increasing-tariffs-as-fcx-positions-to-benefit" target="_blank" rel="noreferrer noopener">Goldman Sachs Sees Copper Imports Increasing Ahead Of Tariffs As FCX Positions To Benefit</a></li>
</ul>
Photo via Shutterstock.

Upgrades

Price Target

Analyst Ratings

COPA

COPP

Is Freeport-McMoRan's US-Based Footprint An Advantage? Analyst Upgrades Stock Amid Copper Import Tariff Risk

Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) has been analyzed by 10 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">3</td>
<td align="right">2</td>
<td align="right">5</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Freeport-McMoRan, revealing an average target of $47.2, a high estimate of $52.00, and a low estimate of $40.00. This current average represents a 6.16% decrease from the previous average price target of $50.30. 
<img src="https://www.benzinga.com/files/images/story/2025/1742475615_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
The perception of Freeport-McMoRan by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Bill Peterson</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$52.00</td>
<td>$48.00</td>
</tr>
<tr>
<td>Abhi Agarwal</td>
<td>Deutsche Bank</td>
<td>Maintains</td>
<td>Buy</td>
<td>$47.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Chris LaFemina</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$48.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Orest Wowkodaw</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$45.00</td>
<td>$48.00</td>
</tr>
<tr>
<td>Katja Jancic</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$50.00</td>
<td>$54.00</td>
</tr>
<tr>
<td>Chris LaFemina</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Hold</td>
<td>$40.00</td>
<td>$48.00</td>
</tr>
<tr>
<td>Bill Peterson</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$48.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Bob Brackett</td>
<td>Bernstein</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$46.00</td>
<td>$51.00</td>
</tr>
<tr>
<td>Orest Wowkodaw</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$48.00</td>
<td>$52.00</td>
</tr>
<tr>
<td>Chris LaFemina</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Buy</td>
<td>$48.00</td>
<td>$60.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Freeport-McMoRan. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Freeport-McMoRan compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Freeport-McMoRan's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Freeport-McMoRan's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/FCX/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on Freeport-McMoRan analyst ratings.</a>
<h2>About Freeport-McMoRan</h2>
Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona. It sold around 1.2 million metric tons of copper (its share) in 2024, making it the one of the world's largest copper miners by volume. It also sold about 900,000 ounces of gold, mostly from Grasberg, and 70 million pounds of molybdenum. It had about 25 years of copper reserves at end December 2024. we expect it to sell similar amounts of copper midcycle in 2029, though we expect gold volumes to decline to about 700,000 ounces then due to falling production at Grasberg.
<h3>Freeport-McMoRan: Delving into Financials</h3>
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Decline in Revenue: Over the 3 months period, Freeport-McMoRan faced challenges, resulting in a decline of approximately -3.13% in revenue growth as of 31 December, 2024. This signifies a reduction in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Materials sector.
Net Margin: Freeport-McMoRan's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 4.79%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 1.56%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Freeport-McMoRan's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of 0.5%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 0.55, caution is advised due to increased financial risk.
<h2>How Are Analyst Ratings Determined?</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Verdict: Freeport-McMoRan In The Eyes Of 10 Experts

JP Morgan analyst Bill Peterson upgrades Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) from Neutral to Overweight and raises the price target from $48 to $52.

JP Morgan Upgrades Freeport-McMoRan to Overweight, Raises Price Target to $52

Copper prices have surged above $10,000 per metric ton on the London Metal Exchange (LME) for the first time since October. On LME, copper has gained 14% year-to-date, while <a target="_blank" href="https://www.benzinga.com/topic/copper" rel="noreferrer noopener">U.S. copper futures</a> surged 26%.
The price differential widened to $1,200 per metric ton, creating arbitrage opportunities. Since copper futures result in physical delivery on maturity, buyers have scrambled to move supplies into the U.S.
Between 100,000 and 150,000 metric tons of copper will arrive in the U.S. in the coming weeks, potentially surpassing the monthly import record of 136,951 tons set in January 2022.
Leading commodity traders, including Trafigura, Glencore, and Gunvor, have aggressively rerouted shipments, with additional warehouse space being secured in New Orleans and Baltimore to handle the influx.
Still, the 12% differential between the domestic and foreign copper prices is around half of anticipated copper tariffs.
On February 25, President Donald Trump signed an executive action directing the U.S. Commerce Department to investigate copper imports on national security grounds. Leading institutions, including Goldman Sachs and Citigroup, responded, predicting a <a target="_blank" href="https://www.benzinga.com/news/guidance/25/03/44271394/goldman-sachs-sees-copper-imports-increasing-tariffs-as-fcx-positions-to-benefit" rel="noreferrer noopener">25% tariff</a> on imported copper by year-end.
"Copper's rise is being driven solely by supply concerns surrounding the potential for universal tariffs to be placed on all imports of copper into the US," Natalie Scott-Gray, a senior metals demand analyst at StoneX, <a target="_blank" href="https://x.com/neilksethi/status/1902053890079535258" rel="noreferrer noopener">said</a>, warning about the high reliance on foreign copper.
According to ING, in 2024, the U.S. imported <a target="_blank" href="https://think.ing.com/articles/industrial-metals-monthly-us-copper-tariff-risks-pull-more-metal-to-the-us/" rel="noreferrer noopener">850,000 tons</a> of refined copper, excluding scrap. Chile was the largest supplier, accounting for 41% of imports, while 27% came from Canada.
Despite efforts to increase local production, output has steadily declined, falling 3% in 2024 after an 11% drop in 2023. Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>), the largest U.S. producer, has faced declining ore grades, environmental regulations, and permitting challenges, limiting the ability to ramp up domestic supply.
The firm's CEO, Kathleen Quirk, has called for Trump's administration to classify copper as a critical mineral, anticipating a $500 million windfall from tax credits tied to the Inflation Reduction Act. Quirk sees Freeport's domestic production growing by 8%, targeting an output of 225,000 metric tons, none of which will be exported.
Read Next:
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<li><a href="https://www.benzinga.com/25/03/44375055/trump-turns-to-beautiful-clean-coal-to-address-domestic-energy-demand" target="_blank" rel="noreferrer noopener">Trump Turns To ‘Beautiful, Clean Coal' To Address Domestic Energy Demand</a></li>
</ul>
Photo via Shutterstock

Guidance

CPER

FQVLF

JJCTF

LUNMF

MTAL

Copper Surges As Arbitrage Opportunity Drives US Imports

Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) has outperformed the market over the past 5 years by 25.72% on an annualized basis producing an average annual return of 43.07%. Currently, Freeport-McMoRan has a market capitalization of $55.69 billion. 
Buying $1000 In FCX: If an investor had bought $1000 of FCX stock 5 years ago, it would be worth $6,225.96 today based on a price of $38.75 for FCX at the time of writing.
<h3>Freeport-McMoRan's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1741995909_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Freeport-McMoRan Stock In The Last 5 Years

WIIM

STLD

TECK

VALE

Shares of base metals stocks are trading higher amid overall market strength and as investors assess US tariffs on steel and aluminum.

Editor&#8217;s Note: The headline has been updated for clarity.
Goldman Sachs forecasts a surge in U.S. copper imports soon, driven by expectations of tariffs from President Donald Trump's <a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">administration</a>.
Per Reuters' <a target="_blank" href="https://www.reuters.com/markets/commodities/goldman-sachs-anticipates-surge-us-copper-net-imports-2025-03-11/" rel="noreferrer noopener">report</a>, the investment bank expects a 25% duty on copper imports by year's end, incentivizing stockpiling to frontrun the legislative. As a result, U.S. net copper imports could surge by 50-100%, adding between 200,000 to 300,000 metric tons to domestic inventories by Q3.
If this projection materializes, U.S. copper stockpiles could swell from 95,000 tons to as much as 400,000 tons or around half of global reported inventories – leaving the international market at historically low inventory levels.
For 2025, Goldman sees a 180,000-ton global copper deficit as growing demand for electrification, economic stimulus measures in China, and slow mine growth materialize. The bank sees the supply imbalance more pronounced in the second half of the year as a catalyst for higher prices.
"We maintain our forecast that the LME three-month price will average $10,200 per ton in Q3 2024 and see the impact of inventory dislocation predominantly in timespreads," the bank noted. Current three-month copper contracts on the London Metal Exchange were trading at $9,528.50 per ton as of Wednesday morning.
The largest U.S. copper producer, Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>), could benefit from this scenario, particularly if copper is classified as a critical mineral.
In a recent <a target="_blank" href="https://www.reuters.com/markets/commodities/ceraweek-freeport-sees-500-million-annual-boost-if-trump-declares-copper-2025-03-10/" rel="noreferrer noopener">interview</a>, CEO Kathleen Quirk expressed optimism that the Trump administration could make this move soon, unlocking the federal tax incentives to support domestic production.
"Having the incentives and clarity around those would be a big plus for the domestic copper industry," Quirk said. Such a designation would enable Freeport to claim more than $500 million annually in tax credits tied to the Inflation Reduction Act.
Freeport-McMoRan operates seven copper mines across the U.S. and one of two domestic copper smelters. The firm doesn't export any domestically produced copper, making it a key supplier in any scenario restricting imports.
However, production costs in the U.S. are higher than in Freeport's international operations due to lower ore grades, making policy support a crucial factor.
Per the <a target="_blank" href="https://mms.businesswire.com/media/20250122679192/en/2360933/1/FCX_250123_4Q_2024_Earnings_Release.pdf" rel="noreferrer noopener">latest guidance</a>, the company expects its U.S. copper production to increase by 8% in 2025, with further growth in subsequent years. Opportunities include doubling the concentrator capacity at its Bagdad operation in Arizona, which could add 200-250 million pounds of copper annually.
Quirk also hinted at a possible <a target="_blank" href="https://www.benzinga.com/25/03/44216408/dr-congo-explores-a-minerals-for-security-deal-with-the-us" rel="noreferrer noopener">return to the Democratic Republic of Congo</a>, where Freeport previously owned the Kisanfu copper-cobalt project before selling it to China Molybdenum in 2020. "We would be interested in going back for the right opportunity," she said, adding that Freeport would seek to be the operator of any project if it re-enters the DRC.
Price Watch: Freeport-McMoRan has declined 5.28% year-to-date. The stock is up 1.56% to $36.44 premarket at the last check on Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/25/03/44243837/iron-ore-production-to-accelerate-until-2030-study-says" target="_blank" rel="noreferrer noopener">Iron Ore Production To Accelerate Until 2030, Study Says</a></li>
</ul>
Photo via Shutterstock

Goldman Sachs Sees Copper Imports Increasing Ahead Of Tariffs As FCX Positions To Benefit (UPDATED)

Deep-pocketed investors have adopted a bullish approach towards Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in FCX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 17 extraordinary options activities for Freeport-McMoRan. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 58% leaning bullish and 35% bearish. Among these notable options, 5 are puts, totaling $555,829, and 12 are calls, amounting to $749,451.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $33.0 to $50.0 for Freeport-McMoRan over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Freeport-McMoRan's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Freeport-McMoRan's whale activity within a strike price range from $33.0 to $50.0 in the last 30 days. 
<h3>Freeport-McMoRan Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1741795357_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>FCX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$2.81</td>
<td>$2.8</td>
<td>$2.81</td>
<td>$36.00</td>
<td>$233.0K</td>
<td>5.1K</td>
<td>835</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$0.39</td>
<td>$0.36</td>
<td>$0.36</td>
<td>$43.00</td>
<td>$165.5K</td>
<td>762</td>
<td>4.6K</td>
</tr>
<tr>
<td>FCX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$4.45</td>
<td>$4.4</td>
<td>$4.4</td>
<td>$37.00</td>
<td>$143.0K</td>
<td>1.0K</td>
<td>439</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$0.19</td>
<td>$0.17</td>
<td>$0.19</td>
<td>$40.00</td>
<td>$103.4K</td>
<td>18.5K</td>
<td>5.6K</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$0.26</td>
<td>$0.26</td>
<td>$0.26</td>
<td>$44.00</td>
<td>$77.5K</td>
<td>1.5K</td>
<td>2.9K</td>
</tr>
</tbody>
</table>

<h3>About Freeport-McMoRan</h3>
Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona. It sold around 1.2 million metric tons of copper (its share) in 2024, making it the one of the world's largest copper miners by volume. It also sold about 900,000 ounces of gold, mostly from Grasberg, and 70 million pounds of molybdenum. It had about 25 years of copper reserves at end December 2024. we expect it to sell similar amounts of copper midcycle in 2029, though we expect gold volumes to decline to about 700,000 ounces then due to falling production at Grasberg.
Having examined the options trading patterns of Freeport-McMoRan, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Freeport-McMoRan's Current Market Status</h3>
<ul>
<li>With a volume of 5,265,746, the price of FCX is up 2.65% at $36.83. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 41 days.</li>
</ul>
<h3>What Analysts Are Saying About Freeport-McMoRan</h3>
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $47.5.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; An analyst from Deutsche Bank upgraded its action to Buy with a price target of $47. 
&#x2A; In a positive move, an analyst from Jefferies has upgraded their rating to Buy and adjusted the price target to $48. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Freeport-McMoRan options trades with real-time alerts from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.

Freeport-McMoRan's Options Frenzy: What You Need to Know

Freeport-McMoRan's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) short percent of float has risen 26.71% since its last report. The company recently reported that it has 26.50 million shares sold short, which is 1.85% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.65 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>Freeport-McMoRan Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1741707929_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Freeport-McMoRan has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Freeport-McMoRan's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, Freeport-McMoRan's peer group average for short interest as a percentage of float is 3.87%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Do Investors Really Feel About Freeport-McMoRan?

ASPI

CENX

MEOH

MERC

PACK

Shares of companies within the broader materials sector are trading lower amid economic worries driven by tariffs and trade policies. Investors may be expecting a decline in investment, which may also be weighing on the industry.

Freeport-McMoRan CEO Kathleen Quirk Says Would Be Interested In Returning To The Congo 'For The Right Opportunity'

Freeport-McMoRan CEO Kathleen Quirk Says Hopes Trump Declares Copper To Be A Critical Mineral For U.S. Government; Move Would Give Company Roughly $500M Tax Credit Benefit Annually; Sees Benefits But Also Drawbacks On Potential U.S. Copper Tariffs; Expects To Begin Shipping Copper Concentrate From Indonesia By End Of Month; Indonesian Smelter Repairs Going 'Very Good,' Should Be Complete End Of June, Possibly Sooner; Ukraine And Greenland Minerals Projects 'Not On Our Near-Term Priority List'

Investors with a lot of money to spend have taken a bullish stance on Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with FCX, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Freeport-McMoRan.
This isn't normal.
The overall sentiment of these big-money traders is split between 62% bullish and 25%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $101,601, and 7, calls, for a total amount of $853,640.
<h3>What's The Price Target?</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $20.0 to $45.0 for Freeport-McMoRan during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
In today's trading context, the average open interest for options of Freeport-McMoRan stands at 12181.14, with a total volume reaching 6,842.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Freeport-McMoRan, situated within the strike price corridor from $20.0 to $45.0, throughout the last 30 days.
<h3>Freeport-McMoRan Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1741279582_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$1.74</td>
<td>$1.7</td>
<td>$1.74</td>
<td>$43.00</td>
<td>$435.0K</td>
<td>641</td>
<td>2.5K</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$0.93</td>
<td>$0.88</td>
<td>$0.92</td>
<td>$45.00</td>
<td>$138.0K</td>
<td>13.3K</td>
<td>1.5K</td>
</tr>
<tr>
<td>FCX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/20/26</td>
<td>$6.45</td>
<td>$6.2</td>
<td>$6.39</td>
<td>$40.00</td>
<td>$101.6K</td>
<td>233</td>
<td>159</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$19.1</td>
<td>$18.85</td>
<td>$19.0</td>
<td>$20.00</td>
<td>$76.0K</td>
<td>234</td>
<td>0</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$1.17</td>
<td>$1.16</td>
<td>$1.16</td>
<td>$39.00</td>
<td>$58.0K</td>
<td>6.7K</td>
<td>613</td>
</tr>
</tbody>
</table>

<h3>About Freeport-McMoRan</h3>
Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona. It sold around 1.2 million metric tons of copper (its share) in 2024, making it the one of the world's largest copper miners by volume. It also sold about 900,000 ounces of gold, mostly from Grasberg, and 70 million pounds of molybdenum. It had about 25 years of copper reserves at end December 2024. we expect it to sell similar amounts of copper midcycle in 2029, though we expect gold volumes to decline to about 700,000 ounces then due to falling production at Grasberg.
Having examined the options trading patterns of Freeport-McMoRan, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Present Market Standing of Freeport-McMoRan</h3>
<ul>
<li>Currently trading with a volume of 6,729,244, the FCX's price is up by 1.23%, now at $38.63. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 47 days.</li>
</ul>
<h3>What The Experts Say On Freeport-McMoRan</h3>
2 market experts have recently issued ratings for this stock, with a consensus target price of $47.5.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; An analyst from Deutsche Bank has elevated its stance to Buy, setting a new price target at $47. 
&#x2A; An analyst from Jefferies upgraded its action to Buy with a price target of $48. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Freeport-McMoRan with <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> for real-time alerts.

Decoding Freeport-McMoRan's Options Activity: What's the Big Picture?

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Jefferies analyst Michael Yee upgraded ALX Oncology Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALXO#NASDAQ">ALXO</a>) from Hold to Buy and raised the price target from $2 to $3. ALX Oncology shares closed at $1.04 on Wednesday. <a href="https://www.benzinga.com/quote/alxo/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Seaport Global analyst Kenneth Zener upgraded D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) from Neutral to Buy and announced a $164 price target. D.R. Horton shares closed at $129.37 on Wednesday. <a href="https://www.benzinga.com/quote/dhi/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Rosenblatt analyst Catharine Trebnick upgraded the rating for Zscaler, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>) from Neutral to Buy and raised the price target from $190 to $235. Zscaler shares closed at $196.45 on Wednesday. <a href="https://www.benzinga.com/quote/zs/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Deutsche Bank analyst Abhi Agarwal upgraded Freeport-McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) from Hold to Buy and maintained the price target of $47. Freeport-McMoRan shares closed at $38.16 on Wednesday. <a href="https://www.benzinga.com/quote/fcx/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keybanc analyst Todd Thomas upgraded CubeSmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUBE#NYSE">CUBE</a>) from Sector Weight to Overweight and announced a $47 price target. CubeSmart shares closed at $42.46 on Wednesday. <a href="https://www.benzinga.com/quote/cube/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying ZS stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="549" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/06092334/image-19-1024x549.png" alt="" class="wp-image-812281" style="width:550px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/06092334/image-19-1024x549.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/06092334/image-19-300x161.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/06092334/image-19-768x412.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/06092334/image-19.png 1165w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Deutsche Bank analyst Abhi Agarwal upgrades Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) from Hold to Buy and maintains the price target from $47 to $47.

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