Freeport-McMoRan Inc. (FCX)
Freeport-McMoRan is one of the world's largest copper miners, with major operations in the Americas and Indonesia. Its fortunes are tightly linked to copper demand from electrification and construction.
Materials stock comparison
FCX vs NEM: which business are you actually underwriting?
Compare Freeport-McMoRan Inc. with Newmont Corporation using their business models, SEC classifications, fiscal calendars, current primary filings, and the research questions that matter. This is a thesis framework—not a price target or automatic winner.
- Sector
- Materials
- Industry
- Different SIC
- Shared themes
- 2
- Updated
- 2026-02-19
FCX vs NEM: quick comparison
| Company fact | FCX | NEM |
|---|---|---|
| Company | Freeport-McMoRan Inc. | Newmont Corporation |
| Exchange | NYSE | NYSE |
| Headquarters | Phoenix, Arizona | Denver, Colorado |
| Founded | 1912 | 1921 |
| SEC industry | Metal Mining | Gold and Silver Ores |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-02-13 | 10-K · 2026-02-19 |
How the businesses differ
Newmont Corporation (NEM)
Newmont is the world's largest gold-mining company, with operations spread across the Americas, Africa, and Australia. Its earnings move with gold prices, which often rise during periods of economic uncertainty.
The useful starting point is not which ticker has performed better. It is whether the two companies convert the same economic forces into revenue and cash flow in the same way. FCX is classified by the SEC as Metal Mining, while NEM is classified as Gold and Silver Ores. The different industry codes are a warning against treating sector membership as proof of identical economics.
Which thesis does each company fit?
Use the distinction below to decide which filing deserves deeper work. It is a research routing rule, not a recommendation or prediction.
Study FCX when…
- Chinese industrial and construction demand
- The US dollar and commodity prices
- Energy-transition metals like copper and lithium
- Tariffs and global trade flows
Study NEM when…
- Chinese industrial and construction demand
- The US dollar and commodity prices
- Energy-transition metals like copper and lithium
- Tariffs and global trade flows
Shared research themes
International marketsEconomic trends
SEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable.FCX's fiscal year ends December 31, while NEM's ends December 31. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House Clerk snapshot contains 1matched transaction row for FCXand 0 for NEM. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
FCX primary filings
NEM primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving FCX or NEM
FCX vs NEM FAQs
Are FCX and NEM direct competitors?
Freeport-McMoRan Inc. and Newmont Corporation sit in the same Materials sector but have different SEC industry classifications. The comparison is most useful for portfolio role and sector exposure, not as a claim that every product competes directly.
Which is better, FCX or NEM?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this FCX vs NEM comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. Use a regulated broker or licensed quote provider for current prices, then use the primary filings here to test the business thesis.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-08-10. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-08-10. Independent educational research; not investment advice.
Go beyond FCX vs NEM.
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