Freeport-McMoRan reported third-quarter 2026 sales of US$7,546 million and net income of US$1,174 million, with higher diluted EPS from continuing operations than a year earlier. For the fourth quarter, it guided to its strongest sales of the year, with copper volumes up 17% and gold volumes nearly tripling from the prior quarter. The article argues the investment case depends on whether Grasberg, the Indonesian smelters and U.S. leach and expansion projects run to plan, since disruption in Indonesia or at major brownfield projects could offset stronger profitability. Consensus expects earnings to rise from US$2.9b currently to US$6.7b by 2029, an increase of about US$3.8b, alongside analyst expectations of roughly 17.4% yearly revenue growth and revenue reaching US$41.9b in 2029.
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