FCX Stock Today, November 18, 2025: Grasberg Restart Plan Lifts Freeport-McMoRan as Lawsuits Mount

Freeport-McMoRan (NYSE: FCX) shares are climbing on Tuesday, November 18, 2025, as investors cheer a clearer roadmap to restart the Grasberg copper-gold complex in Indonesia, even while a wave of fresh securities class-action announcements keeps legal risk front and center.

Around the latest trade, FCX is changing hands near $40.36, up about 3.5% on the day, after touching an intraday high of $41.98 and a low of $38.54 on heavy volume. Freeport’s own investor site earlier in the session showed the stock at $40.44, up 3.69% with more than 11.6 million shares traded by 12:15 p.m. ET. ^[1] Pre‑market, FCX jumped roughly 5% to about $40.80 as markets reacted to the new restart plan. ^[2]

Below is a complete look at all the key FCX news dated November 18, 2025, and what it means for the stock today.

FCX stock today: price action and context

Current price: ~$40.36
Daily move: +$1.36, about +3.5% vs. Monday’s close
Intraday range: $38.54 – $41.98
Volume: ~11.96 million shares (above a typical session)

The move extends a recovery from the sharp sell‑off that followed the September 8 mud‑flow (“mud rush”) disaster at Grasberg’s Block Cave underground mine, which flooded the mine with about 800,000 metric tons of wet material, trapping seven workers. ^[3] All seven were later confirmed dead. ^[4]

Copper prices, meanwhile, remain elevated by historical standards, with COMEX copper near $5.00 per pound as of November 17, 2025, even after a small pullback. ^[5] For a highly copper‑levered name like FCX, that creates a powerful backdrop: if operations normalize, strong pricing can go straight to the bottom line.

Top story: Freeport lays out Grasberg restart plan for 2026

The central driver of FCX stock today is Freeport’s official update on its flagship Indonesian asset:

1. Official restart roadmap

Freeport issued a Business Wire press release, “Freeport Provides Update on Restart Plans for Grasberg Minerals District,” dated November 18, 2025. ^[6] Key points from the company and subsequent wire coverage (Reuters, MarketWatch, Mining.com, TradingView) include:

Large‑scale production restart from Q2 2026
Freeport plans to restore large‑scale production at the Grasberg minerals district starting in the second quarter of 2026, following the September mud‑rush incident that forced a suspension of Block Cave operations earlier this year. ^[7]
Phased ramp‑up at Grasberg Block Cave
A phased restart and ramp‑up of the Grasberg Block Cave underground mine will begin in Q2 2026, according to multiple reports summarizing the company’s plan. ^[8]
Unaffected mines already back online
The company reiterated that production at the Deep Mill Level Zone and Big Gossan underground mines, which were not impacted by the mud rush, restarted in late October 2025. ^[9]
2026 volume expectations
Freeport now expects PT Freeport Indonesia’s combined copper and gold production in 2026 to be roughly in line with 2025 levels, even with the phased restart. ^[10] Earlier, in late September, the company had warned that 2026 production could be about 35% lower than pre‑incident estimates, highlighting how today’s plan is somewhat less pessimistic than those worst‑case projections. ^[11]

2. Conference call and SEC filing

Freeport filed an 8‑K with the U.S. Securities and Exchange Commission on November 18, attaching the restart press release as Exhibit 99.1 and the slide deck for today’s webcasted conference call as Exhibit 99.2. ^[12]
The company held a special call at 10:00 a.m. Eastern to walk investors through the investigation findings, remediation work, revised mine plans and updated guidance. MarketScreener’s summary notes that management emphasized both the operational impact and the path back to full production. ^[13]

3. Ongoing financial impact from the Grasberg incident

Reuters and MarketScreener report that Freeport expects the Grasberg incident to have a “significant impact” on Q4 2025 and 2026 operating and financial results, even with the Q2 2026 restart plan. ^[14]

Separately, recent Q3 coverage underscores the scale of the hit so far:

The September mud rush and shutdown reduced copper production by roughly 90 million pounds and gold production by about 80,000 ounces in 2025 to date. ^[15]
Freeport expects minimal Q4 2025 contributions from Indonesian mining operations, with North and South American mines offsetting some of the lost tonnage. ^[16]

In short: today’s plan gives visibility on “when” and “how” Grasberg comes back, but not a free pass on near‑term earnings pain.

Earnings backdrop: Q3 beat, 2025 guidance intact

A number of pieces published today and over the last few weeks are still very relevant for FCX’s setup:

Q3 2025 beat:
Freeport reported Q3 2025 EPS of $0.50, topping consensus estimates of about $0.41 on revenue of roughly $6.97 billion, despite Indonesian production challenges. ^[17]
Resilient 2025 sales guidance:
A Smartkarma note and related coverage today highlight that Freeport still expects 2025 sales of about 3.5 billion pounds of copper, 1.05 million ounces of gold and 82 million pounds of molybdenum—broadly in line with previous guidance, though moly is slightly below an earlier estimate. ^[18]
Indonesia drag vs. Americas strength:
MarketBeat/Nasdaq analysis stresses that while the Grasberg shutdown has dominated headlines, more than half of Freeport’s copper production comes from its North and South American operations, which are benefiting from higher copper prices and efficiency gains (including autonomous haul trucks at the Bagdad mine in Arizona). ^[19]

That backdrop helps explain why, when Freeport finally gave a clearer restart timeline today, FCX rallied instead of selling off further: investors already knew 2025–26 would be messy; today’s update reduces uncertainty about what happens after that.

Wave of class-action lawsuits hits FCX on the same day

While the operational news is positive, legal risk escalated sharply today. Several shareholder law firms issued releases on November 18 inviting Freeport investors to join or lead securities class‑action lawsuits tied to the Grasberg tragedy.

1. BFA Law (Bleichmar Fonti & Auld LLP)

In a Business Wire release titled “FCX BREAKING NEWS: Freeport-McMoRan Inc. Safety Issues Trigger Securities Fraud Class Action after Stock Drops Over 20%”, BFA Law says a class action has been filed against Freeport and certain executives in the U.S. District Court for the District of Arizona, captioned Reed v. Freeport-McMoRan Inc., et al., No. 2:25‑cv‑04243. ^[20]
The complaint alleges that Freeport overstated the strength of its safety culture and risk controls at Grasberg, and that unsafe mining practices made worker fatalities reasonably likely. ^[21]
The firm highlights a series of stock price drops in September 2025 after Freeport disclosed the mud rush, fatalities and potential production shortfalls, arguing that investors suffered losses of more than 20% as the truth emerged. ^[22]

2. Law Offices of Frank R. Cruz

The Law Offices of Frank R. Cruz likewise announced that it has filed a class‑action lawsuit on behalf of investors who bought FCX shares between February 15, 2022 and September 24, 2025, with a lead‑plaintiff deadline of January 12, 2026. ^[23]
The complaint similarly alleges that Freeport failed to adequately ensure safety at the Grasberg Block Cave mine and that the company downplayed the risk of worker deaths and resulting regulatory, litigation and reputational damage. ^[24]

3. Robbins Geller Rudman & Dowd LLP

Robbins Geller issued its own Business Wire notice today, also covering the February 15, 2022–September 24, 2025 class period and inviting investors with substantial losses to seek appointment as lead plaintiff in the same Reed v. Freeport-McMoRan case. ^[25]
The firm’s summary emphasizes allegations that Freeport misrepresented or failed to disclose safety shortcomings at Grasberg, and details the stock’s moves following the September 9, 24, and 25 disclosures about the incident and its impact. ^[26]

4. Law Offices of Howard G. Smith and others

A separate Business Wire notice, circulated via MarketScreener, shows the Law Offices of Howard G. Smith also encouraging FCX shareholders to inquire about a securities fraud class action tied to the same incident and disclosure timeline. ^[27]

In addition to today’s notices, Rosen Law Firm and The Schall Law Firm have previously filed or announced similar actions earlier in November, all covering broadly the same class period and factual allegations. ^[28]

Important: These are allegations by plaintiff firms, not findings by a court. Freeport has not admitted wrongdoing, and the cases may take years to resolve.

For FCX stock, the immediate implication is headline risk and potential future settlement costs, layered on top of the operational challenges from the Grasberg shutdown.

Institutional flows today: some buying, some selling

Several 13F‑based articles also hit the tape on November 18, showing how different institutional investors are repositioning around FCX:

Creative Planning adds to its stake
Creative Planning increased its FCX holdings by 16.3% in Q2, finishing the quarter with 327,361 shares valued at about $14.2 million, according to a MarketBeat alert published today. ^[29]
Cornerstone Advisors slashes exposure
Cornerstone Advisors cut its FCX stake by 79.8% in Q2, ending with just 2,300 shares worth around $100,000, down from 11,400 shares previously. ^[30]
Bedell Frazier trims but remains invested
A separate MarketBeat piece notes that Bedell Frazier Investment Counselling LLC reduced its FCX position by 14.8%, to 97,095 shares worth roughly $4.2 million, selling 16,874 shares during the quarter. ^[31]

Broader ownership data show that FCX is widely held, with more than 2,400 institutional owners collectively reporting over 1.4 billion shares across various filings. ^[32]

Taken together, today’s filings support the picture of active but mixed institutional positioning: some firms are leaning into the copper story and the post‑tragedy upside, while others are using the volatility to reduce exposure.

Analyst view: still a “Moderate Buy” with upside

Despite the September accident and the legal overhang, Wall Street’s stance on FCX remains cautiously constructive:

Consensus rating:
MarketBeat’s latest compilation shows 24 analysts covering Freeport-McMoRan with a consensus rating of “Moderate Buy”. There are 0 Sell, 5 Hold and 19 Buy‑equivalent ratings (including strong buys). ^[33]
Average 12‑month price target:
The average target price sits near $47.01, implying about 16% upside from today’s ~$40.40 trading level, with a range from $39 at the low end to $56 at the high end. ^[34]
Zacks ABR:
Zacks reports an Average Brokerage Recommendation (ABR) of 1.60 on a 1–5 scale (1 = Strong Buy, 5 = Strong Sell), also consistent with a Buy‑leaning stance overall. ^[35]

Analysts generally highlight:

Structural copper demand tailwinds from electrification, EVs and data‑center build‑outs; ^[36]
Freeport’s large, long‑life asset base across the Americas and Indonesia; ^[37]
Risks around Grasberg execution, safety, regulation, and now multi‑front securities litigation.

Why copper fundamentals still matter so much for FCX

Today’s trading is all about Grasberg and lawsuits, but FCX is ultimately a leveraged play on copper:

A Reuters feature earlier this year noted that copper demand from data centers alone is expected to climb from 78,000 tons in 2020 to around 260,000 tons in 2025, and more than 650,000 tons by 2030, according to consultancy CRU. ^[38]
The International Energy Agency (IEA) projects global data‑center electricity demand to more than double to about 945 TWh by 2030, driven heavily by AI workloads—implying major investment in copper‑heavy power infrastructure. ^[39]
A recent analysis also cites IEA estimates that grid investment will exceed $400 billion this year, with copper central to those projects. ^[40]

Add in policy shifts—such as the U.S. formally adding copper to its critical minerals list earlier this month ^[41]—and it’s easy to see why many investors are willing to tolerate higher risk in names like Freeport so long as the long‑term production story remains intact.

Key takeaways for FCX stock on November 18, 2025

Here’s what today’s FCX newsflow boils down to:

Grasberg is not “fixed,” but the path is clearer.
Freeport now has a public, regulator‑backed plan to restore large‑scale Grasberg production from Q2 2026, with Block Cave coming back gradually and unaffected mines already online. ^[42]
Near‑term earnings will remain under pressure.
The company and Reuters both acknowledge a “significant impact” on Q4 2025 and 2026 results from the shutdown and restart costs. ^[43]
Legal and reputational risks are rising.
At least four major law firms (BFA Law, Robbins Geller, Frank R. Cruz, Howard G. Smith) issued new or updated class‑action notices today, joining earlier suits led by Rosen and Schall. These cases could lead to years of litigation and possible settlements, though the financial impact is still highly uncertain. ^[44]
Institutional money is actively repositioning, not fleeing.
Today’s 13F stories show a mix of buying and selling—Creative Planning added to its position, while Bedell Frazier and Cornerstone Advisors trimmed—rather than a one‑way rush for the exits. ^[45]
Analysts still see upside—but with higher risk.
A “Moderate Buy” consensus, a mid‑40s price target, and no outright Sell ratings suggest Wall Street still views FCX as a high‑beta copper recovery play, provided management executes the restart safely and regulators are satisfied. ^[46]

What this means if you’re watching FCX

From a news‑driven perspective, November 18, 2025 is a pivotal day for FCX stock:

Bulls get what they wanted: a concrete Grasberg restart schedule and reaffirmed long‑term production ambitions in a market that increasingly treats copper as a strategic, AI‑ and energy‑transition metal. ^[47]
Bears and cautious investors see their concerns validated by explicit guidance on financial damage and a rising wall of litigation, with multiple law firms racing to represent shareholders who bought before the tragedy. ^[48]

Whether FCX ultimately works as an investment will depend on factors no single trading day can answer: the safety record of the restarted mine, regulatory response in Indonesia, future copper prices, and the eventual outcome of the lawsuits.

Disclaimer

This article is for informational and news purposes only and is not financial, investment, or legal advice. FCX is a volatile stock exposed to commodity, operational, country and legal risks. Always do your own research and consider consulting a qualified financial advisor or attorney before making investment or legal decisions.

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