Freeport-McMoRan's 0.07% Rise on 297th-Ranked $330M Volume as Expansion Projects Target Copper, Gold Demand

Freeport-McMoRan Inc. (FCX) traded with a 0.07% gain on August 29, 2025, as its $330 million trading volume ranked 297th in the stock market, reflecting a 20.28% decline from the previous day’s volume. The company is advancing a robust pipeline of expansion projects across its global operations, positioning itself to capitalize on long-term demand for copper and gold.

FCX is evaluating a large-scale sulfide expansion at the El Abra mine in Chile, which could support a mill project comparable to its Cerro Verde concentrator. Pre-feasibility studies for a significant sulfide expansion at Arizona’s Safford/Lone Star operations are expected to conclude by 2026. Meanwhile, the Bagdad mine in Arizona aims to double its concentrator capacity. In Indonesia, PT Freeport Indonesia (PT-FI) has completed construction of a new greenfield smelter in Eastern Java, with copper anode production commencing in July 2025. PT-FI is also developing the Kucing Liar ore body in the Grasberg district, targeting production by 2030. A transition from coal to natural gas at PT-FI’s operations is underway, expected to significantly reduce greenhouse gas emissions.

Analysts highlight FCX’s strategic focus on organic growth, with expansion projects designed to enhance capacity and output. The company’s ability to execute these initiatives effectively could strengthen its competitive position in the copper sector. PT-FI’s new precious metals refinery began gold production in late 2024, adding another revenue stream.

FCX shares have gained 16.5% year-to-date, outperforming the Zacks Mining - Non Ferrous industry’s 5.3% rise. The stock trades at a forward 12-month earnings multiple of 20.87, a 5.9% premium to the industry average. Zacks forecasts 18.2% and 34.4% year-over-year earnings growth for 2025 and 2026, respectively, with earnings per share estimates trending upward. The stock currently holds a Zacks Rank #3 (Hold), reflecting a balanced valuation and growth outlook.