--- title: "Weekly Recap | Freeport Mcmoran -0.37%, Indonesia ramp-up on track" type: "News" locale: "en" url: "https://longbridge.com/en/news/300847925.md" description: "Freeport-McMoRan (FCX) slipped 0.37% this week to close at $72.04, roughly 0.1 percentage point behind the S&P 500. The stock swung in a wide 8.96% range: it opened Monday at $69.755 and edged up to $71.96, climbed to $74.45 on Wednesday before reversing lower, fell to $68.2 on Thursday, then rebounded 3.80% on Friday to end at $72.04. The week’s low and high were almost 9 percentage points apart." datetime: "2026-10-03T06:47:09.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/300847925.md) - [en](https://longbridge.com/en/news/300847925.md) - [zh-HK](https://longbridge.com/zh-HK/news/300847925.md) generator: "portal-rs" --- # Weekly Recap | Freeport Mcmoran -0.37%, Indonesia ramp-up on track ## The Week Freeport-McMoRan (FCX) slipped 0.37% this week to close at $72.04, roughly 0.1 percentage point behind the S&P 500. The stock swung in a wide 8.96% range: it opened Monday at $69.755 and edged up to $71.96, climbed to $74.45 on Wednesday before reversing lower, fell to $68.2 on Thursday, then rebounded 3.80% on Friday to end at $72.04. The week’s low and high were almost 9 percentage points apart. ## Key Events Monday set the tone as copper hit a one-week low under pressure from an oil rally and a stronger dollar. FCX fell about 4.13% in pre-market trading, then dropped close to 3.33% in after-hours action on the ex-dividend date and rating pressure. Through mid-week the stock mostly lagged or only slightly outperformed peers, until Friday brought a shift. The company released its third-quarter 2026 operational update, highlighting that the Indonesia mine ramp-up is on track and that the smelter has restarted following the 2025 Grasberg incident. Those company-specific headlines landed alongside the 3.80% gain on Friday. On the industry side, analysts said China’s refined copper output growth is on course for its slowest pace in decades this year, keeping the supply story intact. ## Analyst Ratings Of the 24 analysts covering the stock, 12 rate it a buy, 6 overweight, 4 hold, 1 underweight and 1 sell, with 18 at buy or overweight and the rest at hold, underweight or sell. The consensus rating is buy, with a consensus target of $73.95, about 2.7% above this week’s close of $72.04. Targets are widely spread from $30 to $85, showing meaningful disagreement over copper prices and execution even if the direction is broadly constructive. Within the copper industry, FCX ranks 1st among 6 comparable names. ## The Week Ahead Monday brings the final S&P Global services PMI and the ISM non-manufacturing PMI, where the prior reading was 55.4 and consensus is 55. Tuesday sees US international trade data and the revised goods trade balance. Wednesday’s EIA releases cover weekly crude and Cushing inventories. For copper and FCX, services sentiment and the dollar are the key external signals that feed into industrial metal risk appetite, while oil inventory shifts can work through inflation expectations. ## In Short FCX finished the week almost flat and only marginally behind the broader market, but a company-specific rebound on Friday came from the Indonesian smelter restart and output on track. Analyst positioning is mostly buy or overweight with a consensus target above spot, though the $30 to $85 target range points to wide disagreement over how much copper strength is already priced in. Valuation at 5.14x PB and 35.24x P/E is not cheap for the copper sector, and the latest session’s flow was mixed, with large and medium lots net sellers and small lots net buyers. The question for next week is whether copper can hold up against services data and inventory prints while Indonesia’s ramp-up continues to deliver. *This article is generated by LongbridgeAI from market data, for information only and not investment advice.* ### Related Stocks - [FCX.US](https://longbridge.com/en/quote/FCX.US.md) ## Related News & Research - [Did Copper Output Expansion Just Shift Freeport McMoRan Stock Investment Narrative?](https://longbridge.com/en/news/299909579.md) - [Groupe la Francaise Acquires 25,000 Shares of Freeport-McMoRan Inc. $FCX](https://longbridge.com/en/news/298186656.md) - [Sandisk Stock Is Falling Thursday: What's Going On?](https://longbridge.com/en/news/301982790.md) - [Peter Schiff Warns Trump’s ‘Booming’ Stock Market Boast Is a Mirage: 479 Stocks Hit 52-Week Lows on Wednesday, While Only 60 Set Highs](https://longbridge.com/en/news/301958076.md) - [Why Is Rocket Lab Stock Plunging in Premarket Today? What This Top Analyst Sees Next](https://longbridge.com/en/news/301962657.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**