Newmont vs Freeport-McMoRan
Newmont Mining Corp. and Freeport-McMoRan Inc. are presented here in a neutral comparison of their business models, financial performance, and market context. This page explains how each company approaches its operations, returns, and industry environment for informational purposes. Educational content, not financial advice.
Newmont Mining Corp. and Freeport-McMoRan Inc. are presented here in a neutral comparison of their business models, financial performance, and market context. This page explains how each company appro...
Why It's Moving
Newmont Stock Slides as Gold Miner Grapples with Output Decline and Rising Costs
- Newmont projects nearly 10% lower gold production for 2026, marking a 'trough' year that threatens near-term revenue generation and profit margins.
- All-in sustaining costs are expected to surge to $1,680 per ounce in 2026, driven by increased royalties and taxes that will compress profitability despite record gold prices.
- A notice of default at Newmont's Nevada Gold Mines joint venture introduces uncertainty around a meaningful portion of the company's output, while recent insider share sales signal waning internal confidence in near-term prospects.
FCX Stock Pulled Back After Surging Rally, but Technical Weakness Signals More Downside Ahead
- Grasberg Deal Trade-Off: While the agreement secures Freeport's right to operate through 2041, the company now holds a minority economic interest rather than majority control, reducing per-share earnings leverage from the mine's output compared to its previous position.
- Technical Breakdown: The stock broke below its 50-day moving average around $60 after peaking above $70 in early February, with the MACD indicator turning bearish and momentum favoring further consolidation or downside before the next advance.
- Long-Term Bull Case Intact: Despite near-term weakness, analysts maintain that rising copper demand, gold exposure, and the secured operating rights provide a durable foundation for a potential buy-the-dip opportunity, though geopolitical complexity and valuation concerns may pressure the stock lower first.
Newmont Stock Slides as Gold Miner Grapples with Output Decline and Rising Costs
- Newmont projects nearly 10% lower gold production for 2026, marking a 'trough' year that threatens near-term revenue generation and profit margins.
- All-in sustaining costs are expected to surge to $1,680 per ounce in 2026, driven by increased royalties and taxes that will compress profitability despite record gold prices.
- A notice of default at Newmont's Nevada Gold Mines joint venture introduces uncertainty around a meaningful portion of the company's output, while recent insider share sales signal waning internal confidence in near-term prospects.
FCX Stock Pulled Back After Surging Rally, but Technical Weakness Signals More Downside Ahead
- Grasberg Deal Trade-Off: While the agreement secures Freeport's right to operate through 2041, the company now holds a minority economic interest rather than majority control, reducing per-share earnings leverage from the mine's output compared to its previous position.
- Technical Breakdown: The stock broke below its 50-day moving average around $60 after peaking above $70 in early February, with the MACD indicator turning bearish and momentum favoring further consolidation or downside before the next advance.
- Long-Term Bull Case Intact: Despite near-term weakness, analysts maintain that rising copper demand, gold exposure, and the secured operating rights provide a durable foundation for a potential buy-the-dip opportunity, though geopolitical complexity and valuation concerns may pressure the stock lower first.
Investment Analysis
Newmont
NEM
Pros
- Newmont delivered strong Q3 2025 results, with EPS and revenue exceeding expectations and record free cash flow of $1.6 billion.
- The company maintains a robust balance sheet, ending the quarter with $5.6 billion in cash and near-zero net debt.
- Newmont is the world's largest gold miner, with diversified operations across multiple continents and a clear production growth target for 2028.
Considerations
- Analyst price targets for Newmont show a wide range, indicating uncertainty about future stock performance and potential downside risk.
- Insider share sales have occurred recently, which may raise questions about executive confidence in near-term prospects.
- The stock has experienced high volatility, and some forecasts suggest a potential price decline over the next few months.
Pros
- Freeport-McMoRan benefits from exposure to copper, a metal with strong demand growth driven by electrification and renewable energy trends.
- The company has a significant market capitalisation and operates some of the world's largest copper and gold mines.
- Freeport-McMoRan maintains a solid dividend policy, providing regular returns to shareholders despite commodity price fluctuations.
Considerations
- Freeport-McMoRan's earnings and stock price are highly sensitive to copper price volatility, which can be influenced by global macroeconomic factors.
- The company carries a higher debt burden compared to sector peers, increasing financial risk during periods of low commodity prices.
- Environmental and regulatory risks are elevated due to the scale and geographic spread of Freeport-McMoRan's mining operations.
Related Market Insights
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Related Market Insights
America's Copper Advantage: How Tariffs Are Reshaping The Market
US copper tariffs create a 50% shield for domestic producers. Futures plunged 19.5%, signalling market disruption & investment opportunities. Explore the Neme.
Aimee Silverwood | Financial Analyst
July 31, 2025
Hard Assets for Hard Times: Why Tangible Investments Matter Now
Protect your purchasing power with Nemo's Hard Assets basket. Invest in companies owning tangible assets like precious metals & infrastructure to hedge against inflation.
Aimee Silverwood | Financial Analyst
July 25, 2025
Newmont (NEM) Next Earnings Date
Newmont (NEM) is expected to announce its Q1 2026 earnings on April 22, 2026, based on consistent analyst estimates across multiple financial platforms. The company typically releases earnings reports in mid-to-late April, following its historical reporting schedule. This upcoming earnings announcement will cover the first quarter of 2026 and is anticipated to include updated financial metrics and forward guidance for the year.
Freeport-McMoRan (FCX) Next Earnings Date
Freeport-McMoRan (FCX) is scheduled to report its next quarterly earnings on April 16, 2026, based on the most recent guidance from investor relations sources. This earnings release will cover the first quarter of 2026 (Q1 2026). The company typically announces results before market open and subsequently hosts a conference call for investors. This represents approximately one month from the current date.
Newmont (NEM) Next Earnings Date
Newmont (NEM) is expected to announce its Q1 2026 earnings on April 22, 2026, based on consistent analyst estimates across multiple financial platforms. The company typically releases earnings reports in mid-to-late April, following its historical reporting schedule. This upcoming earnings announcement will cover the first quarter of 2026 and is anticipated to include updated financial metrics and forward guidance for the year.
Freeport-McMoRan (FCX) Next Earnings Date
Freeport-McMoRan (FCX) is scheduled to report its next quarterly earnings on April 16, 2026, based on the most recent guidance from investor relations sources. This earnings release will cover the first quarter of 2026 (Q1 2026). The company typically announces results before market open and subsequently hosts a conference call for investors. This represents approximately one month from the current date.
Which Baskets Do They Appear In?
America's Copper Advantage: Tariffs Reshape The Market
The U.S. has imposed a 50% tariff on certain copper imports, causing market volatility and creating a potential advantage for domestic producers. This theme focuses on U.S.-based copper fabricators and refiners who stand to benefit from these protectionist measures.
Published: July 31, 2025
Explore BasketInflation Hedge Basket
Looking to protect your money from rising prices? This collection features companies that own real, physical assets from gold mines to global infrastructure. Professional analysts have selected these stocks specifically for their ability to maintain and potentially increase in value during inflationary periods.
Published: June 17, 2025
Explore BasketWhich Baskets Do They Appear In?
America's Copper Advantage: Tariffs Reshape The Market
The U.S. has imposed a 50% tariff on certain copper imports, causing market volatility and creating a potential advantage for domestic producers. This theme focuses on U.S.-based copper fabricators and refiners who stand to benefit from these protectionist measures.
Published: July 31, 2025
Explore BasketInflation Hedge Basket
Looking to protect your money from rising prices? This collection features companies that own real, physical assets from gold mines to global infrastructure. Professional analysts have selected these stocks specifically for their ability to maintain and potentially increase in value during inflationary periods.
Published: June 17, 2025
Explore BasketBuy NEM or FCX in Nemo
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