🔴 Freeport-McMoran is trading 4.1% down today on reduced Grasberg outlook and lower copper sales projections

Freeport-McMoran is trading 4.1% down at $58.45 after investors reacted to the company’s reduced Grasberg outlook and lower copper sales projections.

• The miner expects a slower recovery at its flagship Indonesian mine, leading to downwardly revised production forecasts for 2026 and 2027.
• Broader mining sentiment is facing additional pressure from a weaker risk tone in equities, with the Nasdaq declining 0.69%.
• The move is being driven primarily by company-specific operational concerns and output news rather than macroeconomic or crypto-related factors.