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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#919
Positioning
Market Dominance
Mining
Non-Metallic And Industrial Metal Mining
$56.0B
Richard C. Adkerson
Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America. The company also operates a portfolio of oil and gas properties in offshore California and the Gulf of Mexico.
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Dates updated upon official exchange announcement.
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| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$VALE Vale S.A. | 75 | 88 | 93 | 67 | - | - | 15.8% | 6.9% | 36.6% | 22.8% | 15.9% | -8.9% | 0.0% | 0.0x | $38.7B | VS | |
$SU SUNCOR ENERGY INC | 74 | 87 | 90 | 53 | - | - | 13.1% | 6.5% | 58.3% | 18.4% | 11.0% | -3.6% | 4.9% | 29.0x | $46.0B | VS | |
$TRX TRX GOLD Corp | 72 | 83 | 77 | 96 | - | - | 10.7% | 6.1% | 41.5% | 27.8% | 11.4% | 40.0% | 0.0% | 2.0x | $104M | VS | |
$ORLA Orla Mining Ltd. | 72 | 94 | 83 | 78 | - | - | 19.6% | 15.7% | 74.8% | 47.5% | 26.2% | 47.2% | 0.0% | 0.0x | $1.7B | VS | |
$KGC KINROSS GOLD CORP | 71 | 83 | 89 | 79 | - | - | 15.1% | 9.3% | 37.8% | 31.6% | 20.0% | 21.3% | 1.3% | 21.0x | $11.4B | VS | |
$AEM AGNICO EAGLE MINES LTD | 71 | 80 | 80 | 71 | - | - | 9.4% | 6.5% | 60.5% | 36.0% | 22.9% | 25.0% | 2.0% | 6.0x | $38.9B | VS | |
$RIO RIO TINTO PLC | 70 | 76 | 84 | 64 | - | - | 20.3% | 11.2% | 23.0% | 20.1% | 23.1% | -1.3% | 11.2% | 26.0x | $93.8B | VS | |
$IAG IAMGOLD CORP | 70 | 71 | 82 | 89 | - | - | 29.9% | 17.1% | 33.7% | 57.8% | 51.9% | 65.4% | 0.0% | 34.0x | $2.5B | VS | |
$NGD New Gold Inc. /FI | 70 | 76 | 67 | 92 | - | - | 11.1% | 4.8% | 52.8% | 19.7% | 11.1% | 17.5% | 0.0% | 38.0x | $1.7B | VS | |
$PDS PRECISION DRILLING Corp | 70 | 77 | 90 | 65 | - | - | 6.6% | 3.6% | 34.4% | 11.0% | 5.9% | -10.0% | 0.0% | 52.0x | $876M | VS | |
$FCX FREEPORT-MCMORAN INC | 58 | 55 | 60 | 66 | 19.2x | 13.3x | 15.7% | 8.3% | 30.7% | 27.9% | 17.6% | 5.3% | 1.5% | 30.0x | $56.0B | ||
| SECTOR BENCH | - | - | - | - | - | 13.7x | 5.2x | 4.0% | 3.9% | 43.2% | 12.2% | 6.2% | 2.6% | 0.0% | 0.3x | - | REF |
FREEPORT-MCMORAN INC (FCX) receives a "Hold" rating with a composite score of 57.8/100. It ranks #919 out of 7,333 stocks in our coverage universe and carries a 3-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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YOY expansion rate
Core pricing power
Operating efficiency
Bottom-line conversion
Equity capital efficiency
Asset base utilization
Financial leverage load
Direct cash return
Richard C. Adkerson
Chief Executive Officer
Labor Force
25,600
55
38
51
Audit Verdict: Lower quality and stability scores may indicate governance concerns.
No recent insider transactions available for FCX
Outperforming peers — winners tend to keep winning over 3-12 months
Fair valuation relative to peers
Average quality profile
Average volatility — neutral timing signal
Moderate investment profile
Mid-range overall rating
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Relative valuation derived from Mining sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
Projection based on user-defined inputs. Re-calculated daily against current market data.
Reverse DCF Framework — Mauboussin Methodology
Institutional-grade Reverse DCF analysis. This model identifies the growth hurdles embedded in current market prices. When implied growth is significantly lower than historical or projected rates, a margin of safety may exist. Re-audited daily.
No analyst ratings for FCX.
View All RatingsMaterial decline in asset turnover efficiency detected
High margin volatility — erratic forensic earnings quality
| Factor | Global | Sector | Tilt |
|---|---|---|---|
| PROFITABILITY | 55 | 62 | -7DRAG |
| MOMENTUM | 66 | 70 | -4NEUTRAL |
| VALUATION | 60 | 65 | -5NEUTRAL |
| INVESTMENT | 38 | 52 | -14DRAG |
| STABILITY | 51 | 54 | -3NEUTRAL |
| SHORT INT | 60 | 74 | -14DRAG |
Global = full universe. Sector = relative to industry peers. Positive tilt indicates idiosyncratic strength.
ROIC 84.2% vs WACC 8.9% (spread +75.3%)
GM 31% vs sector 43%, OM 28% vs sector 12%
Capital turnover 5.12x
Rev growth 5%, 10yr history
Interest coverage 60.9x, Net debt/EBITDA 0.8x
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
Our model assigns FREEPORT-MCMORAN INC a Hold rating, with a composite score of 57.8/100 and 3 out of 5 stars. Ranked #919 of 7,333 stocks, FCX presents a mixed quantitative picture — neither compelling enough to initiate new positions nor weak enough to warrant selling. Investors already holding may consider maintaining their position while monitoring for changes in the factor profile.
With a quality score of 55/100, FCX shows adequate but unremarkable business quality. The company reports a return on equity of 15.7% (sector avg: 4.0%), gross margins of 30.7% (sector avg: 43.2%), net margins of 17.6% (sector avg: 6.2%). This suggests the company generates acceptable returns but may lack the competitive positioning or operational efficiency to stand out from peers.
FCX's value score of 60/100 indicates the stock is fairly valued based on its current fundamentals. Key valuation metrics include a P/E ratio of 19.16x, an EV/EBITDA of 13.31x, a P/B ratio of 3.00x. At this level, neither a clear bargain nor overpriced, the stock's attractiveness depends more on forward growth expectations and qualitative factors.
FREEPORT-MCMORAN INC's investment score of 38/100 suggests limited reinvestment activity. Key growth metrics include revenue growth of 5.3% vs. a sector average of 2.6% and a return on assets of 8.3% (sector: 3.9%). While this can be positive for mature, cash-generative businesses returning capital to shareholders, it may also signal a lack of growth opportunities or management conservatism.
FCX demonstrates moderate momentum with a score of 66/100, suggesting a neutral price trend without strong directional conviction. Revenue growth stands at 5.3% year-over-year, while a beta of 1.62 reflects its sensitivity to broader market moves. Moderate momentum may indicate the stock is consolidating or transitioning between trends, warranting close monitoring of upcoming catalysts.
With a stability score of 51/100, FCX exhibits average financial resilience. Key stability metrics include a beta of 1.62 and a debt-to-equity ratio of 30.00x (sector avg: 0.3x). While the balance sheet is not a major concern, the stock is subject to typical market volatility and may experience sharper drawdowns during risk-off episodes.
FCX carries a short interest score of 60/100, indicating moderate short selling activity. This is a neutral reading — not enough to signal systemic bearishness, but worth monitoring. Specific risk factors include high market sensitivity (beta: 1.62), elevated leverage (D/E: 30.00x). At $56.0B market cap (large-cap), FREEPORT-MCMORAN INC offers reasonable institutional liquidity.
FCX offers a modest dividend yield of 1.5%. While the income contribution is relatively small, even a small dividend signals management's commitment to shareholder returns and can serve as a signal of financial discipline.
FREEPORT-MCMORAN INC is a large-cap company in the Mining sector, ranked #0 of 50 in its sector (100th percentile) and #919 of 7,333 overall (87th percentile). Key comparisons include ROE of 15.7% exceeding the 4.0% sector median and operating margins of 27.9% above the 12.2% sector average. This top-quartile standing reflects exceptional competitive strength relative to Mining peers.
While FCX currently exhibits a HOLD profile, superior opportunities exist within the MINING sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
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Investment (38) is the limiting factor — improvement here would lift the composite score most.
EV/EBITDA 154% ABOVE SECTOR MEDIAN
ROE 296% ABOVE SECTOR MEDIAN (FAVORABLE)
Gross Margin 29% BELOW SECTOR MEDIAN
AUDIT DATA AS OF SEP 30, 2025 (Q2 FY2025)
We rate FREEPORT-MCMORAN INC (FCX) as a Hold with a composite score of 57.8/100 at a current price of $67.94. The stock presents a mixed quantitative picture — neither compelling enough to warrant new accumulation nor weak enough to justify selling for existing holders. Our factors are split, and the overall profile suggests patience is warranted.
The rating is primarily driven by strength in momentum (66th percentile) and value (60th percentile), which together account for the majority of the composite score. Offsetting weakness in investment (38th percentile) and stability (51th percentile) tempers our overall conviction. We assign a Narrow Moat rating (65/100), Medium uncertainty, and Standard capital allocation.
Key items to watch: quarterly earnings execution and sector-level competitive dynamics. Any material change in these dynamics could warrant a reassessment of our rating. The moat trend is stable, which suggests the competitive landscape is stable for now.
FREEPORT-MCMORAN INC holds a top-quartile position (#0 of 50) within the Mining sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 57.8/100 places it at rank #919 in our full 7,333-stock universe. With a $56.0B market capitalization, FREEPORT-MCMORAN INC operates at meaningful scale within the Mining sector, providing competitive advantages in distribution, procurement, and customer reach.
The outlook is moderately positive, with revenue expanding at 5% and favorable momentum (66th percentile) reflecting constructive market sentiment. The business shows steady execution, though the growth rate is below the levels typically associated with high-conviction growth stories. Momentum confirmation provides support for the current price level.
The margin cascade tells an important story: gross margins of 31% (-12.5pp vs sector) narrow to operating margins of 28% (+15.7pp vs sector) and net margins of 17.6%, yielding a gross-to-net conversion rate of 57%. This efficient conversion suggests well-controlled operating costs and limited margin leakage between the gross and net levels.
At a current price of $67.94, FREEPORT-MCMORAN INC is trading near fair value based on current fundamentals. Our value factor score of 60/100 reflects a composite assessment across multiple valuation metrics including price-to-earnings, price-to-book, EV/EBITDA, and price-to-sales ratios relative to both sector peers and the broader market. Valuation metrics are mixed, with no strong signal of mispricing in either direction.
The stock currently trades at a P/E of 19.2x (a 40% premium to the sector median of 13.7x), EV/EBITDA of 13.3x (at a premium), P/B of 3.0x, P/S of 3.4x. The above-sector P/E multiple suggests the market is pricing in superior growth or quality, which our analysis finds only partially justified by current fundamentals.
Returns on equity of 15.7% exceed the cost of equity for most companies, indicating genuine shareholder value creation and a reinvestment engine that compounds wealth over time.
Positive momentum (66th percentile) indicates institutional accumulation and favorable technical dynamics that tend to persist in the intermediate term.
Return on assets of 8.3% indicates efficient deployment of the full asset base, not just equity capital.
High beta of 1.62 means amplified losses in market selloffs — in a broad market correction, this stock would likely decline more than the index.
We assign a Medium uncertainty rating to FREEPORT-MCMORAN INC. The stock presents a balanced risk profile: elevated market sensitivity (beta of 1.62). While not risk-free, the core business fundamentals are adequate to withstand moderate economic stress, and the range of potential outcomes around our fair value estimate is manageable.
Specific risk factors that inform our assessment include: elevated market sensitivity (beta of 1.62). Each of these factors independently widens the distribution of potential outcomes, and in combination they create a risk profile that demands careful position sizing. The stability factor at the 51th percentile and quality factor at the 55th percentile provide a quantitative summary of the overall risk landscape.
Key risk mitigants include: large-cap scale ($56.0B) provides resilience. These factors partially offset the identified risks and provide downside protection in adverse scenarios. On balance, the risk-reward profile is favorable for long-term investors.
We rate FREEPORT-MCMORAN INC's capital allocation as Standard. Management has shown adequate — though not exceptional — stewardship of shareholder capital. Returns on equity stand at 15.7%, and the balance sheet is managed within acceptable parameters (D/E: 30%). Exemplary allocators typically sustain ROE above 20% and D/E below 50%; FREEPORT-MCMORAN INC falls short on at least one dimension.
There is room for improvement in optimizing the capital structure or enhancing shareholder returns. The 1.54% dividend yield provides some income return, but the overall capital allocation framework would benefit from either higher reinvestment returns, improved balance sheet efficiency, or increased shareholder distributions. We will monitor for signs of strategic improvement that could warrant an upgrade.
In summary, FREEPORT-MCMORAN INC receives a Hold rating with a composite score of 57.8/100 (rank #919 of 7,333). Our quantitative framework assigns a Narrow Moat (65/100, trend: stable), Medium uncertainty, and Standard capital allocation. The average factor score across quality, value, momentum, stability, and investment is 54/100.
Our analysis supports a neutral stance on FREEPORT-MCMORAN INC. While the quantitative profile is not weak enough to warrant selling, it lacks the multi-factor strength required for a buy recommendation. Existing holders should maintain positions and monitor for catalysts — either fundamental improvement or valuation compression — that would shift the risk-reward balance.
Analysis derived from Blank Capital Research quantitative terminal. For informational purposes only. No trade solicitation. Past performance not indicative of future results. Consult a qualified advisor.
We assign FREEPORT-MCMORAN INC a Narrow Moat rating with a composite moat score of 65/100. The ROIC-WACC spread of +75.3% is the primary signal of economic value creation. The company possesses identifiable competitive advantages, though they are less entrenched than those of wide-moat peers. Our analysis indicates that FREEPORT-MCMORAN INC can sustain above-average returns on invested capital for at least 10 years, with the strongest contributor being financial resilience at 17.5/20.
The strongest moat sources are financial resilience (17.5/20) and economic value creation (15/20). Interest coverage 60.9x, Net debt/EBITDA 0.8x. ROIC 84.2% vs WACC 8.9% (spread +75.3%). These pillars form the core of FREEPORT-MCMORAN INC's competitive identity and are the primary drivers of excess returns in our framework.
Areas of relative weakness include margin superiority (8.2/20) and reinvestment efficiency (10/20). GM 31% vs sector 43%, OM 28% vs sector 12%. Improvement in these areas could meaningfully widen the moat over time, while deterioration would be an early warning of competitive erosion.
Our moat trend assessment is Stable. Multi-year ROIC and operating margin trajectories show neither meaningful improvement nor deterioration, suggesting the competitive position is steady. We expect FREEPORT-MCMORAN INC's moat profile to remain largely unchanged absent a material shift in return on capital or industry dynamics.
Key profit drivers include operating margins of 28% reflecting effective cost management, moderate revenue growth of 5%, returns on equity of 15.7% driving shareholder value creation. The margin cascade from 31% gross to 28% operating to 17.6% net reveals the company's cost structure and reinvestment intensity. Our analysis indicates that profit quality is adequate though not exceptional, with the quality factor at the 55th percentile.
The margin profile shows gross margins of 31%, operating margins of 28%, net margins of 17.6%. Return metrics include ROE of 15.7% and ROA of 8.3%. Relative to the Mining sector, gross margins are 12.5 percentage points below the sector median of 43%, and ROE of 15.7% compares to a sector median of 4.0%.
The balance sheet reflects moderate leverage with D/E of 30%, a dividend yield of 1.54%, revenue growth of 5%. The sector median D/E is 0%, putting FREEPORT-MCMORAN INC at higher leverage than the typical peer. The combination of low leverage and healthy profitability provides significant financial resilience and strategic optionality.
Above 50MA
37.18%
Net New Highs
+51081
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Insiders at three strong-performing stocks—Amphenol, Royal Caribbean, and Freeport-McMoRan—are selling significant positions. While Amphenol's CEO sale appears driven by option exercises with substantial gains and he retains a large stake, Royal Caribbean insiders sold over $168 million with multiple senior executives reducing positions by 25-50%, raising concerns about potential overvaluation. Freeport insiders sold $34 million in February despite a 75% rally, with CFO and Chief Accounting Officer making notable reductions.