Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile. The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014. Freeport-McMoRan Inc. was incorporated in 1987 and is headquartered in Phoenix, Arizona.

Freeport-McMoRan демонстрирует смешанную фундаментальную картину. С одной стороны, компания имеет высокие мультипликаторы, такие как P/E (42.36), что указывает на возможную переоцененность по сравнению со средней по отрасли. Однако, несмотря на высокие показатели, наблюдается положительная динамика по выручке и чистой прибыли, а также относительно низкое соотношение долга к капиталу (0.29), что является положительным знаком. Дивидендная доходность снижается, что может вызвать опасения у инвесторов. Показатели рентабельности, такие как ROE и ROA, ниже медианных значений по отрасли, что также указывает на некоторые проблемы с эффективностью. В то же время уровень операционной маржи (26.73) остается высоким, что говорит о способности компании генерировать прибыль. Общая картина указывает на то, что, хотя Freeport-McMoRan имеет сильные позиции в некоторых областях, высокая оценка по мультипликаторам и низкие показатели рентабельности могут вызвать необходимость пересмотра целевой цены в сторону снижения.

Freeport-McMoRan, Inc.

The S&P 500 Index ($SPX) (SPY) on Tuesday closed down -0.49%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.05%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.01%. June E-mini S&P futures (ESM26) fell -0.46%, and June E-mini Nasdaq futures (NQM26) fell -0.94%.
Stock indexes settled lower on Tuesday, led by losses in technology stocks amid concerns that the massive investment in artificial intelligence will not pay off. The Wall Street Journal reported that OpenAI recently failed to meet its goals for new users and sales, undercutting the shares of OpenAI partners and AI infrastructure stocks, including Nvidia, Oracle, Advanced Micro Devices, and CoreWeave.
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On the positive side, Coca-Cola rose more than +3% to limit losses in the Dow Jones Industrials after reporting stronger-than-expected Q1 net revenue.
Stocks bounced from their worst levels on Tuesday amid better-than-expected US economic news. The Conference Board Apr consumer confidence index unexpectedly rose +0.6 to a 4-month high of 92.8, stronger than expectations of a decline to 89.0. Also, the Apr Richmond Fed manufacturing survey rose +3 to a 14-month high of 3, stronger than expectations of 1. In addition, the Feb S&P composite-20 home price index rose +0.90% y/y, weaker than expectations of +1.12% y/y and the smallest pace of increase in more than 2.5 years.
Soaring crude oil prices are boosting inflation expectations, pushing bond yields higher, and weighing on stocks. WTI crude oil jumped to a 2-week high on Tuesday after the New York Times reported that President Trump is not satisfied with Iran’s latest proposal to reopen the Strait of Hormuz and end the war, which includes postponing nuclear negotiations. Mr. Trump has said any deal must include agreements to curb Iran’s nuclear activities. The 10-year T-note yield climbed to a 3-week high of 4.38% on Tuesday. The 2-day FOMC meeting began on Tuesday and concludes on Wednesday, and the Fed is expected to keep monetary policy unchanged.
WTI crude oil prices (CLM26) rose by more than +3% on Tuesday as the US and Iran are locked in a battle for control of the Strait of Hormuz, with both sides blocking the waterway to gain leverage during an extended ceasefire. The Strait of Hormuz remains essentially closed, threatening to deepen the global energy crisis. The ongoing blockade could exacerbate global oil and fuel shortages, as about a fifth of the world’s oil and liquefied natural gas transits through the strait. Goldman Sachs estimates that crude output in the Persian Gulf has been curtailed by about 14.5 million bpd, or more than 50%, so far in April, and that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, which could hit a billion bbl by June.
Kevin Warsh now appears to be on a glide path toward Senate approval as the new Fed Chair after Senator Thom Tillis said on Sunday that he dropped his opposition to the nomination. Mr. Tillis dropped his opposition after the US Justice Department dropped its criminal investigation into the Fed’s overspending on the renovation of its building, in line with Mr. Tillis’ demand. Mr. Tillis views the investigation into Fed Chair Powell as an attempt to force the Fed to cut interest rates. The Senate Banking Committee is due to vote on Mr. Warsh’s appointment this Wednesday and then send the nomination to the full Senate for a vote.
The markets are discounting a 0% chance for a +25 bp FOMC rate hike at the Tue-Wed policy meeting. The markets are expecting the FOMC to leave policy unchanged this week as it awaits further developments in oil prices and inflation.
Earnings season ramps up this week with several Magnificent Seven technology stocks reporting. Earnings results thus far have been supportive of stocks. As of Tuesday, 80% of the 172 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.
Overseas stock markets settled lower on Tuesday. The Euro Stoxx 50 fell to a 2.5-week low and closed down -0.41%. China's Shanghai Composite closed down -0.19%. Japan's Nikkei Stock 225 closed down -1.02%.
Interest Rates
June 10-year T-notes (ZNM6) on Tuesday closed down -5.5 ticks. The 10-year T-note yield rose +1.0 bp to 4.350%. June T-notes fell to a 3-week low on Tuesday, and the 10-year T-note yield rose to a 3-week high of 4.378%. Tuesday’s +3% jump in WTI crude oil prices boosted inflation expectations and weighed on T-notes. The 10-year breakeven inflation rate rose to a 14-month high of 2.472% on Tuesday. Also, better-than-expected US economic news on Tuesday, including Apr consumer confidence and the Apr Richmond Fed manufacturing survey, was bearish for T-note prices.
T-notes recovered from their worst level on Tuesday amid strong demand for the Treasury’s $44 billion auction of 7-year T-notes that had a bid-to-cover ratio of 2.51, above the 10-auction average of 2.50.
European government bond yields moved higher on Tuesday. The 10-year German bund yield rose to a 2-week high of 3.086% and finished up +3.4 bp to 3.067%. The 10-year UK gilt yield climbed to a 1-month high of 5.028% and finished up +3.4 bp to 5.006%.
The ECB's Mar 1-year CPI expectations rate rose to 4.0% from 2.5% in Feb, stronger than expectations of 2.8% and the highest figure in nearly 2.5 years. The Mar 3-year CPI expectations rate rose to 3.0% from 2.5% in Feb, stronger than expectations of 2.6% and the highest figure in three years.
Swaps are discounting an 11% chance of a +25 bp ECB rate hike at its next policy meeting on Thursday.
US Stock Movers
AI infrastructure stocks and OpenAI partners retreated on Tuesday after the Wall Street Journal reported that OpenAI recently missed its own revenue and new-user targets. ARM Holdings Plc (ARM) closed down more than -7% to lead losers in the Nasdaq 100, and Applied Digital (APLD), Applied Materials (AMAT), Sandisk (SNDK), CoreWeave (CRWV), and Vertiv Holdings (VRT) closed down more than -5%. Also, Broadcom (AVGO), Oracle (ORCL), and KLA Corp (KLAC) closed down more than -4%, and Advanced Micro Devices (AMD), Micron Technology (MU), Marvell Technology (MRVL), ASML Holding NV (ASML), Seagate Technology Holdings Plc (STX), and Lam Research (LRCX) closed down more than -3%. In addition, GE Vernova (GEV) and Western Digital (WDC) closed down more than -2%.
Mining stocks fell on Tuesday, amid the sell-off in gold, silver, and copper prices. Newmont Corp (NEM) and Coeur Mining (CDE) closed down more than -5%, and Anglogold Ashanti (AU), Southern Copper (SCCO), and Hecla Mining (HL) closed down more than -4%. Also, Barrick Mining (B) and Freeport McMoRan (FCX) closed down more than -3%.
Packaging stocks rose on Tuesday after Citigroup said Smurfit WestRock would raise US containerboard prices by $50 per ton, effective June 1. Packaging Corp of America (PKG) and International Paper (IP) closed up by more than +4%, and Smurfit Westrock Plc (SW) closed up more than +1%.
Rambus (RMBS) closed down more than -20% after reporting Q1 EPS of 55 cents, weaker than the consensus of 65 cents.
Spotify Technology SA (SPOT) closed down more than -12% after reporting Q1 operating income of $737 million, below the consensus of $787 million.
Alexandria Real Estate Equities (ARE) closed down more than -11% to lead losers in the S&P 500 after reporting Q1 revenue of $671.0 million, weaker than the consensus of $692.7 million.
Qiagen NV (QGEN) closed down more than -10% after forecasting full-year CER net sales of up +1% to +2%, well below the consensus of +4.62%.
Pentair Plc (PNR) closed down more than -10% after forecasting Q2 adjusted EPS of $1.47 to $1.50, below the consensus of $1.50.
Corning (GLW) closed down more than -8% after forecasting Q2 core EPS of 73 cents to 77 cents, the midpoint below the consensus of 76 cents.
Sherwin-Williams (SHW) closed down more than -3% to lead losers in the Dow Jones Industrials after forecasting full-year adjusted EPS of $11.50 to $11.90, the midpoint below the consensus of $11.72, and saying it sees little chance of end-market recovery this year due to weak consumer sentiment.
United Parcel Service (UPS) closed down more than -3% after leaving its full-year financial guidance unchanged despite reporting better-than-expected Q1 sales and profit.
Centene (CNC) closed up more than +13% to lead gainers in the S&P 500 after reporting Q1 revenue of $49.94 billion, above the consensus of $47.41 billion, and raising its full-year revenue forecast to $187.5 billion to $191.5 billion from $186.5 billion to $190.5 billion, the midpoint above the consensus of $188.79 billion.
Franklin Resources (BEN) closed up more than +6% after reporting Q2 adjusted EPS of 71 cents, stronger than the consensus of 55 cents.
Nucor (NUE) closed up more than +4% after reporting Q1 net sales of $9.50 billion, stronger than the consensus of $8.87 billion.
Coca-Cola (KO) closed up more than +3% to lead gainers in the Dow Jones Industrials after reporting Q1 net revenue of $12.50 billion, better than the consensus of $12.25 billion.
Dynatrace (DT) closed up more than +1% after the Wall Street Journal reported that Starboard Value LP took a stake in the company and is pushing the company to better capitalize on the shift to AI.
Earnings Reports(4/29/2026)
AbbVie Inc (ABBV), Aflac Inc (AFL), Align Technology Inc (ALGN), Allstate Corp/The (ALL), Alphabet Inc (GOOGL), Amazon.com Inc (AMZN), American Water Works Co Inc (AWK), Amphenol Corp (APH), Automatic Data Processing Inc (ADP), Biogen Inc (BIIB), Bunge Global SA (BG), Carvana Co (CVNA), CH Robinson Worldwide Inc (CHRW), Chipotle Mexican Grill Inc (CMG), Cognizant Technology Solutions (CTSH), eBay Inc (EBAY), EMCOR Group Inc (EME), Entergy Corp (ETR), Equinix Inc (EQIX), Everest Group Ltd (EG), Ford Motor Co (F), Garmin Ltd (GRMN), GE HealthCare Technologies Inc (GEHC), Generac Holdings Inc (GNRC), General Dynamics Corp (GD), Humana Inc (HUM), IDEX Corp (IEX), Invitation Homes Inc (INVH), KLA Corp (KLAC), Lennox International Inc (LII), Meta Platforms Inc (META), MGM Resorts International (MGM), Microsoft Corp (MSFT), Mid-America Apartment Communities (MAA), Old Dominion Freight Line Inc (ODFL), O'Reilly Automotive Inc (ORLY), Phillips 66 (PSX), QUALCOMM Inc (QCOM), Regency Centers Corp (REG), Regeneron Pharmaceuticals Inc (REGN), SBA Communications Corp (SBAC), Stanley Black & Decker Inc (SWK), Tyler Technologies Inc (TYL), UDR Inc (UDR), Verisk Analytics Inc (VRSK), VICI Properties Inc (VICI), Vulcan Materials Co (VMC), Yum! Brands Inc (YUM).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Fall on AI Jitters and Surging Crude Oil Prices

The S&P 500 Index ($SPX) (SPY) today is down -0.66%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.03%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.30%. June E-mini S&P futures (ESM26) are down -0.63%, and June E-mini Nasdaq futures (NQM26) are down -1.27%.
Stock indexes are under pressure today, led by losses in technology stocks amid concerns that the massive investment in artificial intelligence will not pay off. The Wall Street Journal reported that OpenAI recently failed to meet its goals for new users and sales, undercutting the shares of OpenAI partners and AI infrastructure stocks, including Nvidia, Oracle, Advanced Micro Devices, and CoreWeave.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
On the positive side, Coca-Cola is up more than +6% to keep the Dow Jones Industrials in positive territory after reporting stronger-than-expected Q1 net revenue.
Also, better-than-expected US economic news today is supportive of stocks. The Conference Board Apr consumer confidence index unexpectedly rose +0.6 to a 4-month high of 92.8, stronger than expectations of a decline to 89.0. Also, the Apr Richmond Fed manufacturing survey rose +3 to a 14-month high of 3, stronger than expectations of 1. In addition, the Feb S&P composite-20 home price index rose +0.90% y/y, weaker than expectations of +1.12% y/y and the smallest pace of increase in more than 2.5 years.
Soaring crude oil prices are also boosting inflation expectations, pushing bond yields higher and weighing on stocks. WTI crude oil jumped to a 2-week high today after the New York Times reported that President Trump is not satisfied with Iran’s latest proposal to reopen the Strait of Hormuz and end the war, which includes postponing nuclear negotiations. Mr. Trump has said any deal must include agreements to curb Iran’s nuclear activities. The 10-year T-note yield climbed to a 3-week high of 4.38% today ahead of the start of the 2-day FOMC meeting, where the Fed is expected to keep monetary policy unchanged.
WTI crude oil prices (CLM26) are up by more than +3% today as the US and Iran are locked in a battle for control of the Strait of Hormuz, with both sides blocking the waterway to gain leverage during an extended ceasefire. The Strait of Hormuz remains essentially closed, threatening to deepen the global energy crisis. The ongoing blockade could exacerbate global oil and fuel shortages, as about a fifth of the world’s oil and liquefied natural gas transits through the strait. Goldman Sachs estimates that crude output in the Persian Gulf has been curtailed by about 14.5 million bpd, or more than 50%, so far in April, and that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, which could hit a billion bbl by June.
Kevin Warsh now appears to be on a glide path toward Senate approval as the new Fed Chair after Senator Thom Tillis said on Sunday that he dropped his opposition to the nomination. Mr. Tillis dropped his opposition after the US Justice Department dropped its criminal investigation into the Fed’s overspending on the renovation of its building, in line with Mr. Tillis’ demand. Mr. Tillis views the investigation into Fed Chair Powell as an attempt to force the Fed to cut interest rates. The Senate Banking Committee is due to vote on Mr. Warsh’s appointment this Wednesday and then send the nomination to the full Senate for a vote.
The markets are discounting a 0% chance for a +25 bp FOMC rate hike at the Tue-Wed policy meeting. The markets are expecting the FOMC to leave policy unchanged this week as it awaits further developments in oil prices and inflation.
Earnings season ramps up this week with several Magnificent Seven technology stocks reporting. Earnings results thus far have been supportive of stocks. As of today, 80% of the 150 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.
Overseas stock markets are lower today. The Euro Stoxx 50 fell to a 2.5-week low and is down -0.26%. China's Shanghai Composite closed down -0.19%. Japan's Nikkei Stock 225 closed down -1.02%.
Interest Rates
June 10-year T-notes (ZNM6) today are down -8 ticks. The 10-year T-note yield is up +2.8 bp to 4.368%. June T-notes fell to a 3-week low today, and the 10-year T-note yield rose to a 3-week high of 4.378%. Today’s +3% jump in WTI crude oil prices is boosting inflation expectations and weighing on T-notes. The 10-year breakeven inflation rate rose to a 14-month high of 2.472% today. Also, better-than-expected US economic news today on Apr consumer confidence and the Apr Richmond Fed manufacturing survey were bearish for T-note prices. In addition, supply pressures are undercutting T-note prices, as the Treasury will auction $30 billion of 2-year floating rate notes and $44 billion of 7-year T-notes later today.
European government bond yields are moving higher today. The 10-year German bund yield rose to a 2-week high of 3.086% and is up +4.0 bp to 3.073%. The 10-year UK gilt yield climbed to a 1-month high of 5.028% and is up +4.4 bp to 5.016%.
The ECB's Mar 1-year CPI expectations rate rose to 4.0% from 2.5% in Feb, stronger than expectations of 2.8% and the highest figure in nearly 2.5 years. The Mar 3-year CPI expectations rate rose to 3.0% from 2.5% in Feb, stronger than expectations of 2.6% and the highest figure in three years.
Swaps are discounting a 13% chance of a +25 bp ECB rate hike at its next policy meeting on Thursday.
US Stock Movers
AI infrastructure stocks and OpenAI partners are retreating today after the Wall Street Journal reported that OpenAI recently missed its own revenue and new-user targets. ARM Holdings Plc (ARM) is down more than -8% to lead losers in the Nasdaq 100, and Applied Digital (APLD), Sandisk (SNDK), and Vertiv Holdings (VRT) are down more than -6%. Also, Advanced Micro Devices (AMD), Applied Materials (AMAT), Micron Technology (MU), CoreWeave (CRWV), GE Vernova (GEV), and Lam Research (LRCX) are down more than -5%, and Western Digital (WDC), ASML Holding NV (ASML), Marvell Technology (MRVL), Seagate Technology Holdings Plc (STX), Broadcom (AVGO), Oracle (ORCL), and KLA Corp (KLAC) are down more than -4%. In addition, Nvidia (NVDA) is down more than -3% to lead losers in the Dow Jones Industrials.
Mining stocks are retreating today with the sell-off in gold, silver, and copper prices. Newmont Corp (NEM), Coeur Mining (CDE), and Anglogold Ashanti (AU) are down more than -5%, and Hecla Mining (HL), Barrick Mining (B), and Southern Copper (SCCO) are down more than -4%. Also, Freeport McMoRan (FCX) is down more than -3%.
Rambus (RMBS) is down more than -24% after reporting Q1 EPS of 55 cents, weaker than the consensus of 65 cents.
Alexandria Real Estate Equities (ARE) is down more than -10% to lead losers in the S&P 500 after reporting Q1 revenue of $671.0 million, weaker than the consensus of $692.7 million.
Spotify Technology SA (SPOT) is down more than -10% after reporting Q1 operating income of $737 million, below the consensus of $787 million.
Qiagen NV (QGEN) is down more than -9% after forecasting full-year CER net sales of up +1% to +2%, well below the consensus of +4.62%.
Corning (GLW) is down more than -8% after forecasting Q2 core EPS of 73 cents to 77 cents, the midpoint below the consensus of 76 cents.
Pentair Plc (PNR) is down more than -7% after forecasting Q2 adjusted EPS of $1.47 to $1.50, below the consensus of $1.50.
United Parcel Service (UPS) is down more than -3% after leaving its full-year financial guidance unchanged despite reporting better-than-expected Q1 sales and profit.
Centene (CNC) is up more than +7% to lead gainers in the S&P 500 after reporting Q1 revenue of $49.94 billion, above the consensus of $47.41 billion, and raising its full-year revenue forecast to $187.5 billion to $191.5 billion from $186.5 billion to $190.5 billion, the midpoint above the consensus of $188.79 billion.
Coca-Cola (KO) is up more than +6% to lead gainers in the Dow Jones Industrials after reporting Q1 net revenue of $12.50 billion, better than the consensus of $12.25 billion.
Dynatrace (DT) is up more than +3% after the Wall Street Journal reported that Starboard Value LP took a stake in the company and is pushing the company to better capitalize on the shift to AI.
S&P Global Inc (SPGI) is up more than +3% after reporting Q1 revenue of $4.17 billion, above the consensus of $4.07 billion.
Nucor (NUE) is up more than +3% after reporting Q1 net sales of $9.50 billion, stronger than the consensus of $8.87 billion.
Franklin Resources (BEN) is up more than +2% after reporting Q2 adjusted EPS of 71 cents, stronger than the consensus of 55 cents.
Earnings Reports(4/28/2026)
Allegion plc (ALLE), American Tower Corp (AMT), Arch Capital Group Ltd (ACGL), Avery Dennison Corp (AVY), Booking Holdings Inc (BKNG), BXP Inc (BXP), Centene Corp (CNC), CMS Energy Corp (CMS), Coca-Cola Co/The (KO), Corning Inc (GLW), CoStar Group Inc (CSGP), Ecolab Inc (ECL), Edison International (EIX), Equity Residential (EQR), Essex Property Trust Inc (ESS), Expand Energy Corp (EXE), Extra Space Storage Inc (EXR), F5 Inc (FFIV), Fair Isaac Corp (FICO), FirstEnergy Corp (FE), Franklin Resources Inc (BEN), General Motors Co (GM), Hilton Worldwide Holdings Inc (HLT), Incyte Corp (INCY), Ingersoll Rand Inc (IR), Invesco Ltd (IVZ), Kimberly-Clark Corp (KMB), Mondelez International Inc (MDLZ), NXP Semiconductors NV (NXPI), Omnicom Group Inc (OMC), ONEOK Inc (OKE), PACCAR Inc (PCAR), Pentair PLC (PNR), PPG Industries Inc (PPG), Robinhood Markets Inc (HOOD), S&P Global Inc (SPGI), Seagate Technology Holdings PL (STX), Sherwin-Williams Co/The (SHW), Starbucks Corp (SBUX), Sysco Corp (SYY), Teradyne Inc (TER), T-Mobile US Inc (TMUS), United Parcel Service Inc (UPS), Veralto Corp (VLTO), Visa Inc (V), Waste Management Inc (WM), Welltower Inc (WELL), Xylem Inc/NY (XYL), Zimmer Biomet Holdings Inc (ZBH).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

AI Fears and Surging Crude Oil Prices Weigh on Stocks

Teck Resources TECK reported first-quarter 2026 adjusted earnings per share (EPS) of $1.28, beating the Zacks Consensus Estimate of 72 cents. The bottom-line figure marked a 207% year-over-year surge driven by record copper sales, higher prices and increased by-product revenues.
Including one-time items, the company reported EPS of $1.22 in the quarter compared with the year-ago quarter’s earnings of 51 cents.
Teck Resources Ltd Price, Consensus and EPS Surprise
TECK’s Revenues & Margins Climb on Higher Volumes & Prices
Teck Resources’ revenues rose 80% to $2.87 billion, beating the Zacks Consensus Estimate of $2.232 billion. The copper segment remained the key growth driver, accounting for roughly 74% of total revenues and posting a 92% year-over-year increase.
Gross profit rose 22% year over year to CAD$1.715 billion ($1.25 billion). Gross margin was 43.5% compared with the year-ago quarter’s 23.4%.
Adjusted EBITDA was CAD$2.088 billion ($1.52 billion), which was up 92% compared with the year-earlier period, reflecting stronger realized pricing, higher volumes and increased by-product contribution. EBITDA margin expanded to 53% in the quarter under review from the year-ago quarter’s 40.5%.
Teck Resources’ Q1 Segment Performances
The Copper segment’s reported revenues of CAD2.903 billion ($2.119 billion), up 125% year over year, are attributed to higher copper prices and record sales volumes.
Copper production rose 32% to about 140,000 tons in the quarter, aided by improved output at QB, higher throughput and grades at Highland Valley Copper and improved grades at Antamina. Production at QB was 55,500 tons, a 31% increase from the last year quarter. Copper sales increased 46% to around 155,100 tons. QB delivered record quarterly copper sales of 70,300 tons, exceeding production as prior inventory was shipped. The copper segment’s gross profit surged 295% year over year to CAD$1.356 billion ($0.99 billion), backed by higher copper prices and volumes.
The Zinc segment’s net revenues rose 33% year over year to CAD$1.04 billion ($0.76 billion). The segment’s gross profit was CAD$359 million ($262 million), 86% higher than the last year quarter. Higher zinc prices and higher by-product revenues at both Red Dog and Trail operations were offset by lower zinc sales volumes from Red Dog due to the timing of sales.
Operationally, refined zinc production at Trail Operations rose 26.6% year over year to 73,800 tons as the zinc electrolytic plant ran at full capacity for most of the quarter. At Red Dog, zinc in concentrate production declined to 106,200 tons from 116,800 tons in the year-ago quarter on lower grades, consistent with the mine plan. Zinc in concentrate sales volumes at Red Dog was 42% lower on a year-over-year basis at 52,400 tons, but above the company’s expected range of 40,000-50,000 tons.
Teck Resources’ Cash Flow & Balance Sheet
Teck Resources generated CAD$1.024 billion ($0.75 billion) of cash from operating activities in 2025 against a use of C$0.515 billion ($0.376 billion) in the year-ago quarter. The improvement reflected higher profitability owing to improved commodity prices and copper sales volumes as well as lower smelter processing charges.
Due to the proposed merger with Anglo American plc, the company did not repurchase shares in the quarter.
The company ended the quarter with cash and cash equivalents of C$5.427 billion ($3.96 billion). As of April 22, 2026, management stated that liquidity was at C$9.8 billion ($7.15 billion), including C$5.7 billion ($4.16 billion) of cash.
TECK Maintains Guidance for 2026
Teck Resources reaffirmed its 2026 outlook, with copper production expected at 455,000–530,000 tons. Zinc production is projected at 410,000–460,000 tons, with refined zinc at 190,000–230,000 tons. For the second quarter, Red Dog zinc sales are forecast at 30,000–40,000 tons.
Update on Pending TECK and Anglo American plc Merger
Teck Resources entered into a merger agreement with Anglo American plc to form the Anglo Teck group in September 2025. The combined entity, Anglo Teck, will derive more than 70% of its exposure from copper and rank among the top five global producers.
Within four years of completion, it is expected to yield around $800 million in annual pre-tax synergies. The merger is also expected to generate an additional $1.4 billion in EBITDA synergies from 2030 to 2049 by optimizing adjacent assets, Collahuasi and Quebrada Blanca, through operational integration. The transaction has so far received shareholder approval and clearance under Canada’s Investment Canada Act, with remaining regulatory approvals pending.
TECK Stock’s Price Performance & Zacks Rank
The company’s shares have gained 70.8% in the past year against the industry’s 57% decline.
Image Source: Zacks Investment Research
A Look at How Teck Resources’ Peer Performed in Q1
Freeport-McMoRan Inc. FCX recorded earnings of 57 cents per share for first-quarter 2026, marking a 138% increase from 24 cents in the year-ago quarter and surpassing the Zacks Consensus Estimate of 47 cents per share. Freeport-McMoRan’s revenues rose roughly 9% year over year to $6.23 billion. Higher prices for copper, gold and molybdenum helped offset the impact of lower volumes. The figure surpassed the consensus estimate of $5.61 billion.
Copper production declined around 24% year over year to 662 million pounds in the reported quarter. The downside primarily resulted from lower operating rates at PTFI following the September 2025 mud rush incident. Sales declined around 25% year over year to 657 million pounds of copper. The company sold 121,000 ounces of gold, down around 6% year over year. FCX also sold 22 million pounds of molybdenum, a 5.5% dip year over year, in the reported quarter.
TECK’s Zacks Rank & Stocks to Consider
Teck Resources currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Better-ranked stocks from the basic materials space are Idaho Strategic Resources IDR and NWPX Infrastructure, Inc. NWPX, which sport a Zacks Rank #1 (Strong Buy) at present.
Idaho Strategic Resources has an average trailing four-quarter earnings surprise of 60.5%. The Zacks Consensus Estimate for the company’s fiscal 2026 earnings is pegged at $1.33 per share, implying 16.7% year-over-year growth. Its shares have gained 151.4% in a year.
The Zacks Consensus Estimate for NWPX Infrastructure’s earnings for 2026 currently stands at $4.24, implying 18.1% year-over-year growth. NWPX Infrastructure has an average trailing four-quarter earnings surprise of 21.32%. NWPX shares have gained 98% in the past year.
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TECK's Q1 Earnings Top Estimates on Record Copper Sales & Strong Pricing

Freeport-McMoRan Inc. FCX recorded net income of $881 million or 61 cents per share for the first quarter of 2026, up around 150% from $352 million or 24 cents in the year-ago quarter.
Barring one-time items, adjusted earnings per share were 57 cents, topping the Zacks Consensus Estimate of 47 cents.
Revenues climbed roughly 8.8% year over year to $6,234 million. The figure surpassed the Zacks Consensus Estimate of $5,613.5 million. Although volumes declined, the company witnessed an increase in copper, gold and molybdenum prices in the reported quarter.
Freeport-McMoRan Inc. Price, Consensus and EPS Surprise
FCX's Operational Highlights
Copper production fell around 23.7% year over year to 662 million pounds in the reported quarter.
Consolidated sales also fell approximately 24.7% year over year, reaching 657 million pounds of copper. The downside primarily resulted from lower operating rates at PTFI following the September 2025 mud rush incident. The company sold 121,000 ounces of gold in the quarter, down around 5.5% year over year. FCX also sold 24 million pounds of molybdenum, up 20% year over year.
Consolidated average unit net cash costs per pound of copper were $1.91, down from $2.07 a year ago. The figure was lower than our estimate of $2.60.
The average realized copper price was $5.78 per pound, up around 30.2% year over year. The figure outpaced our estimate of $5.70 per pound. The average realized price per ounce for gold rose around 59% year over year to $4,889. The figure topped our estimate of $4,695. The average realized molybdenum price was $25.21, up 16.3% year over year. It surpassed our estimate of $22.52.
Freeport's Financial Position
Cash and cash equivalents at the end of the quarter were $3.7 billion, down around 16% year over year. The company’s total debt remained at $9.4 billion.
Cash flows provided by operations were around $1.5 billion in the reported quarter, up 36% year over year.
FCX's Guidance
For full-year 2026, consolidated sales volume projections were revised to around 3.1 billion pounds of copper, 650,000 ounces of gold, and 90 million pounds of molybdenum. This includes an estimated 690 million pounds of copper, 140,000 ounces of gold, and 22 million pounds of molybdenum expected to be sold in the second quarter.
FCX’s guidance revisions reflect timing adjustments to the Grasberg Block Cave ramp-up schedule.
Freeport's Price Performance
Shares of FCX have risen 87% over the past year compared with the industry’s 95.9% growth.
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FCX’s Zacks Rank & Key Picks
FCX currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Aura Minerals Inc. AUGO, Air Products and Chemicals, Inc. APD and Albemarle Corporation ALB.
Aura Minerals is slated to report first-quarter 2026 results on May 6. The Zacks Consensus Estimate for earnings is pegged at $1.84 per share, indicating 397.3% year-over-year growth. AUGO sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Air Products is scheduled to report second-quarter fiscal 2026 results on April 30. The Zacks Consensus Estimate for APD’s second-quarter earnings per share is pegged at $3.05, indicating 13.38% year-over-year growth. APD carries a Zacks Rank #2 (Buy) at present.
Albemarle is slated to report first-quarter 2026 results on May 6. The consensus estimate for ALB’s earnings per share is pegged at $1.07. ALB presently carries a Zacks Rank #2.
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FCX's Q1 Earnings and Revenues Top Estimates on Higher Copper Prices

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Freeport (FCX) Q1 2026 Earnings Transcript

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Putnam Focused Large Cap Value ETF (Symbol: PVAL) where we have detected an approximate $247.0 million dollar inflow -- that's a 2.6% increase week over week in outstanding units (from 195,279,000 to 200,329,000). Among the largest underlying components of PVAL, in trading today iShares Trust - iShares S&P 500 Value ETF (Symbol: IVE) is up about 0.4%, FedEx Corp (Symbol: FDX) is up about 2.1%, and Freeport-McMoran Copper & Gold (Symbol: FCX) is lower by about 10.1%. For a complete list of holdings, visit the PVAL Holdings page » The chart below shows the one year price performance of PVAL, versus its 200 day moving average:
Looking at the chart above, PVAL's low point in its 52 week range is $35.85 per share, with $49.405 as the 52 week high point — that compares with a last trade of $49.01. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
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Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

PVAL, IVE, FDX, FCX: Large Inflows Detected at ETF

In early trading on Thursday, shares of United Rentals topped the list of the day's best performing components of the S&P 500 index, trading up 17.8%. Year to date, United Rentals registers a 16.8% gain.
And the worst performing S&P 500 component thus far on the day is ServiceNow, trading down 14.6%. ServiceNow is lower by about 42.5% looking at the year to date performance.
Two other components making moves today are Freeport-McMoran Copper & Gold, trading down 11.3%, and Texas Instruments, trading up 15.4% on the day.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

S&P 500 Movers: NOW, URI

Freeport-McMoRan (FCX) came out with quarterly earnings of $0.57 per share, beating the Zacks Consensus Estimate of $0.47 per share. This compares to earnings of $0.24 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +22.16%. A quarter ago, it was expected that this mining company would post earnings of $0.28 per share when it actually produced earnings of $0.47, delivering a surprise of +67.86%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Freeport-McMoRan, which belongs to the Zacks Mining - Non Ferrous industry, posted revenues of $6.23 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 11.05%. This compares to year-ago revenues of $5.73 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Freeport-McMoRan shares have added about 38.5% since the beginning of the year versus the S&P 500's gain of 4.3%.
What's Next for Freeport-McMoRan?
While Freeport-McMoRan has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Freeport-McMoRan was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.58 on $6.6 billion in revenues for the coming quarter and $2.54 on $28.05 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Mining - Non Ferrous is currently in the bottom 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Lundin Mining (LUNMF), has yet to report results for the quarter ended March 2026. The results are expected to be released on May 6.
This base metals mining company is expected to post quarterly earnings of $0.28 per share in its upcoming report, which represents a year-over-year change of +154.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Lundin Mining's revenues are expected to be $1.12 billion, up 16% from the year-ago quarter.
Should You Invest in Freeport-McMoRan Inc. (FCX)?
Before you invest in Freeport-McMoRan Inc. (FCX), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.
Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Freeport-McMoRan (FCX) Beats Q1 Earnings and Revenue Estimates

(RTTNews) - Freeport-McMoRan Inc. (FCX), a mining company, Thursday reported higher earnings and revenue for the first quarter compared to the same period last year.
Quarterly earnings increased to $881 million or $0.61 per share from $352 million or $0.24 per share of last year.
Revenue grew $6.234 billion from $5.728 billion of the previous year.
However, quarterly copper production decreased to 662 million pounds from 868 million pounds of the prior year.
Gold production for the quarter declined to 97 million pounds from 287 million pounds of last year.
Additionally, the company declared a quarterly dividend of $0.15 per share to be paid on May 1, to shareholders of record as on April 15.
In pre-market activity, FCX shares were trading at $64.75, down 7.89% on the New York Stock Exchange.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Freeport-McMoRan Q1 Earnings Rise

(RTTNews) - Freeport-McMoRan Inc. (FCX) reported earnings for its first quarter that Increases, from the same period last year
The company's earnings totaled $881 million, or $0.61 per share. This compares with $352 million, or $0.24 per share, last year.
Excluding items, Freeport-McMoRan Inc. reported adjusted earnings of $830 million or $0.57 per share for the period.
The company's revenue for the period rose 8.8% to $6.234 billion from $5.728 billion last year.
Freeport-McMoRan Inc. earnings at a glance (GAAP) :
-Earnings: $881 Mln. vs. $352 Mln. last year. -EPS: $0.61 vs. $0.24 last year. -Revenue: $6.234 Bln vs. $5.728 Bln last year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.