NEW YORK, December 29, 2025, 20:51 ET — Market closed
- Freeport-McMoRan shares closed down 2.9% at $51.48, tracking a broader pullback in metal-linked stocks. 1
- Gold fell more than 4% and silver slid nearly 10% after both hit record highs earlier in the session, Reuters reported. 2
- Traders are watching Tuesday’s release of the Federal Reserve’s December meeting minutes for the next macro cue. 3
Freeport-McMoRan shares fell on Monday as a sharp pullback in precious metals and copper knocked mining stocks lower heading into the New Year. The copper producer’s stock ended down 2.9% at $51.48. 1
The move matters now because Freeport’s earnings tend to swing with metals prices, and the latest selloff hit after a year-long rally pushed several contracts to record levels. The year-end calendar can amplify price moves as trading liquidity thins and positioning gets reset. 2
Gold and silver are closely watched as broader sentiment gauges for metals and inflation hedging, and Freeport also produces gold and silver alongside copper. A pullback in those markets can spill into miners even when company news is quiet. 4
Spot gold fell 4.5% to $4,330.79 an ounce by early afternoon in New York, after hitting a record $4,549.71 on Friday, Reuters reported. Silver dropped 9.5% to $71.66 after touching a record $83.62 earlier in the session. 2
“All the metals moved up to recent and all-time highs. We are seeing profit-taking pullbacks off of those spectacularly high levels,” said David Meger, director of metals trading at High Ridge Futures. 2
Daniel Ghali, a commodity strategist at TD Securities, said liquidity constraints tied to a deadline for the president to make a recommendation on a critical minerals investigation, alongside holiday-thinned trading, exacerbated the drop. 2
The pressure was not limited to Freeport. Southern Copper fell about 2.8%, while Newmont slid about 5.6%, according to market data.
Base metals also weakened as the broader metals complex cooled. Copper was down 4.6% in afternoon trading, a report carried by MarketWatch and Dow Jones Newswires said. 5
Freeport is one of the biggest U.S.-listed copper producers, with assets in North America, South America and Indonesia, including the Grasberg minerals district, according to Reuters company information. 4
Before the next session, traders will focus on whether the selloff in metals stabilizes and how interest-rate expectations shift. The Federal Reserve’s rate-setting committee releases minutes from its December 9–10 meeting at 2:00 p.m. ET on Tuesday, a scheduled event that can move yields and the dollar—both key drivers for metals prices. 3
Year-end liquidity is also on investors’ radar. Banks borrowed $25.95 billion on Monday through the Fed’s standing repo facility—an overnight liquidity backstop—highlighting typical quarter-end funding pressures, Reuters reported. 6
On the company calendar, Freeport has not announced a fourth-quarter earnings date, but several Wall Street calendars point to a late-January window. Nasdaq’s earnings page shows an estimated report date of Jan. 22, 2026, based on historical patterns. 7
Technically, the stock is about 4% below its 52-week high of $53.77 and well above its 52-week low of $27.66, based on the company’s quoted range. Monday’s intraday low was $51.17. 8
For now, Freeport’s next move may hinge less on company headlines than on the direction of copper and precious metals after a crowded, year-end trade reversed sharply.
