Freeport-McMoRan Faces Class Action Over Safety Violations Leading to Worker Fatalities
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: PRnewswire
- Safety Violation Allegations: Freeport-McMoRan is facing a class action lawsuit for failing to ensure safety at its Grasberg mine in Indonesia during the class period from February 15, 2022, to September 24, 2025, which poses significant reputational and stock price risks for the company.
- Severe Accident Consequences: Following a wet material flow incident on September 9, 2025, seven workers were trapped, leading to two fatalities and a projected 35% decrease in PTFI's production for 2026, which will have a substantial negative impact on the company's financial performance.
- Significant Stock Price Volatility: The stock price of Freeport-McMoRan dropped nearly 6% and 17% in response to the safety concerns and production suspension announcements, reflecting market apprehension regarding the company's safety management and operational capabilities.
- Legal Proceedings Update: Investors have until January 12, 2026, to apply as lead plaintiffs in the class action lawsuit, which, if successful, could represent other investors in seeking damages, potentially exposing the company to greater legal and financial risks.
FCX
$49.15+Infinity%1D
Analyst Views on FCX
Wall Street analysts forecast FCX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FCX is 48.82 USD with a low forecast of 44.00 USD and a high forecast of 58.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
17 Analyst Rating
15 Buy
2 Hold
0 Sell
Strong Buy
Current: 47.920
Low
44.00
Averages
48.82
High
58.00
Current: 47.920
Low
44.00
Averages
48.82
High
58.00
About FCX
Freeport-McMoRan Inc. is an international metals company focused on copper. The Company operates geographically diverse assets with significant proven and probable mineral reserves of copper, gold and molybdenum. The Company's segments include the Morenci and Cerro Verde copper mines, the Indonesia operations (including the Grasberg minerals district and PT-FI’s downstream processing facilities), the Rod & Refining operations and Atlantic Copper Smelting & Refining. Its operations include North America, South America and Indonesia. In North America, it manages seven copper operations: Morenci, Bagdad, Safford (including Lone Star), Sierrita and Miami in Arizona, and Chino and Tyrone in New Mexico, and two molybdenum mines: Henderson and Climax in Colorado. It also operates a copper smelter in Miami, Arizona. In South America, it manages two copper operations: Cerro Verde in Peru and El Abra in Chile. In addition to copper, the Grasberg minerals district also produces gold and silver.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
