Freeport-McMoRan Inc. (FCX) earnings on April 23, 2026
More Freeport-McMoRan Inc. earnings
Prior outlook: No statistical edge
FCX dropped sharply after releasing its quarterly results, falling as much as 13% during the day and closing down nearly 13%. This decline went against expectations that the stock would rise.
FCX price around the earnings
61.47
Change: -12.6%
2026-04-23, 19:59 UTC
- Price: green if it ends above the starting price; red if it ends below
- Start of the measured window
- Market open
- Starting price
Prior thesis
Prior outlook: No statistical edge
- Thesis published
Strong rally, but high expectations.
The stock has seen a significant increase in price recently, boosted by news about tariffs and positive analyst reviews. However, expectations are now high, and the stock is approaching a price level where it may face resistance.
Context analyzed before publication
- Summary
- Strong rally, but high expectations.
- Playbook
- With the stock near resistance and expectations elevated, the scenario suggests a need for a clearer context or a more attractive reference area to manage risk.
- Trend
- Trend weakening over past sessions.
Analysts
Drivers
-
Analysts
Positive
Most analysts maintain buy ratings on the stock, and some have recently upgraded their ratings. Despite this, the scenario is pessimistic compared to the recent rally.
Evidence
- Analyst consensus
- Buy
- Consensus average (1-5)
- 1.64
- Analysts covering the stock
- 21
- Average price target
- 69.21
- Lowest price target
- 30
- Highest price target
- 81
- Upside to price target
- 2.4%
- Quarterly earnings growth
- 48.2%
- Revenue growth
- -1.5%
- Forward EPS
- 4.04
- Trailing EPS
- 1.52
- Analyst moves in the last 60 days
- 5
- Strong buy: 6
- Buy: 13
- Hold: 2
- Sell: 1
- Strong sell: 0
- Strong buy
- 6
- Buy
- 13
- Hold
- 2
- Sell
- 1
- Strong sell
- 0
- April 15, 2026 · Wells Fargo: Maintains rating (Overweight → Overweight)
- April 14, 2026 · Scotiabank: Maintains rating (Sector Outperform → Sector Outperform)
- April 9, 2026 · JP Morgan: Maintains rating (Overweight → Overweight)
- April 2, 2026 · Goldman Sachs: Initiates coverage (Buy → Buy)
- March 27, 2026 · UBS: Maintains rating (Buy → Buy)
News and sentiment
Drivers
-
News & sentiment
Negative
While online sentiment is highly positive and recent news has been favorable, this is occurring on low market review volumes. This situation may suggest that expectations are already fully reflected in the current price.
Evidence
Sentiment
- Sentiment
- Constructive
- Mention volume
- Low
- Normalized volume
- 33%
News
Sources (7)
- Here's How Much $100 Invested In Freeport-McMoRan 10 Years Ago Would Be Worth Today — Benzinga
- Wells Fargo Maintains Overweight on Freeport-McMoRan, Raises Price Target to $77 — Benzinga
- Scotiabank Maintains Sector Outperform on Freeport-McMoRan, Lowers Price Target to $71 — Benzinga
- JP Morgan Maintains Overweight on Freeport-McMoRan, Raises Price Target to $76 — Benzinga
- Goldman Sachs Initiates Coverage On Freeport-McMoRan with Buy Rating, Announces Price Target of $70 — Benzinga
- UBS Maintains Buy on Freeport-McMoRan, Lowers Price Target to $66 — Benzinga
- $1000 Invested In Freeport-McMoRan 10 Years Ago Would Be Worth This Much Today — Benzinga
Technicals
Drivers
-
Technical
Positive
The stock's price has increased notably over the last 14 and 30 days, outperforming the broader market. However, the current price is close to a resistance level, which may limit further gains.
Evidence
- Average true range (ATR)
- 3.5%
- Distance to 52-week high
- -4.8%
- 14-day change (14d)
- +10.4%
- 30-day change
- +8.3%
- 30-day relative strength
- +4.5%
- Benchmark change
- +3.8%
- Nearest support
- 50.8
- Nearest resistance
- 70.97
- Volume accumulation ratio
- 0.79
Trends
Evidence
- Average earnings surprise
- +24.0%
- January 22, 2026: actual EPS 0.47 vs estimate 0.32 (surprise +46.7%)
- October 23, 2025: actual EPS 0.5 vs estimate 0.41 (surprise +22.8%)
- July 23, 2025: actual EPS 0.54 vs estimate 0.44 (surprise +21.8%)
- April 24, 2025: actual EPS 0.24 vs estimate 0.23 (surprise +4.6%)
Expected move
There is no implied-move data available for this event.
Reactions over its last 19 earnings
- Median move
- 2%
- 75th percentile move
- 3.5%
- 90th percentile move
- 5.1%
- Up / down moves
- 9 / 10
- Average up move
- +2.9%
- Average down move
- -2.9%
Monitoring and close
What Freeport-McMoRan Inc. reported
There is no monitoring data available for this event.
Pre-market second reading after the results
There is no second reading available for this event.
How the stock reacted
- Consolidated
- -12.6%
- Max move
- -13.2%
No verdict: the outlook took no direction, so there is nothing to score as a hit or a miss.