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Grasberg Deal Signed + EPS +104% Expected → Barron's Calls Dip a Compelling Opportunity

Freeport-McMoRan finalized a deal with the Indonesian government for its Grasberg mine, the world's second-largest copper and gold deposit, though shares initially fell 5.5% post-announcement as investors absorbed dilution and terms. The company is projected to report a 104.17% increase in EPS this quarter, driven by robust copper demand tied to energy transition infrastructure and AI data center buildout. The stock opened at $57.89 on March 17 with Barron's citing the recent dip as a compelling buying opportunity, despite Cinctive Capital cutting its position and Grasberg operational challenges adding near-term risk.