8-K filing — FREEPORT-MCMORAN INC (FCX)
Filed: 2026-11-04 AccNo: 0000831259-26-000048 Size: 1 MB Item 8.01: Other Events Item 9.01: Financial Statements and Exhibits
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Freedom Broker maintained its 'Hold' rating on Freeport-McMoRan while lowering the price target to $68 from $75.
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Filed: 2026-11-04 AccNo: 0000831259-26-000048 Size: 1 MB Item 8.01: Other Events Item 9.01: Financial Statements and Exhibits
Freeport-McMoRan Inc. has received board approval for a $4.5 billion expansion and modernization project at its Bagdad copper and molybdenum mine in Arizona.
Freeport-McMoRan provided updates on its Indonesian operations and potential expansion plans for its Bagdad mine in Arizona.
Freeport-McMoRan expects to reach an investment decision in the fourth quarter of 2026 regarding the expansion of its Bagdad operation in Arizona, which could increase copper production by 200 to 250 million pounds annually.
Freeport-McMoRan has reduced its 2026 production target for the Grasberg minerals district to 478,000 tons, down from approximately 700,000 tons, due to ongoing repairs following a mudslide.
MP Materials, a rare-earth materials miner backed by Pentagon investment, has fallen 60% from its $100 high and now trades at $38. While the company benefits from a $400 million DoD purchase and guaranteed buyer for its 10X facility, profit-sharing agreements with the Pentagon limit upside potential. The stock trades at a premium valuation (16x revenue) compared to peers despite being unprofitable, making it suitable only for risk-tolerant investors as a small speculative position.