Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Freeport-McMoRan's average basic shares outstanding for the quarter that ended in Mar. 2026 was 1,439 Mil.
A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.
Be Aware
Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.
Freeport-McMoRan Shares Outstanding (Basic Average) Related Terms
Freeport-McMoRan Shares Outstanding (Basic Average) Historical Data
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The historical data trend for Freeport-McMoRan's Shares Outstanding (Basic Average) can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.
Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.
Please note: GuruFocus named Shares Outstanding (EOP) is the shares for that exact time point. It is usually used to calculate balance sheet related items, such as Book Value per Share, etc. While Shares Outstanding (Diluted Average) and Shares Outstanding (Basic Average) are the weighted average shares over a period of time (a year, a quarter, or so). They are usually used to calculate income statement or cashflow statement related items, such as Earnings per Share (Diluted), etc.
What does a Shares Outstanding (Basic Average) of 1,439 Mil mean?
Freeport-McMoRan (WBO:FCX) has a Shares Outstanding (Basic Average) of 1,439 Mil as of Mar. 2026. The average shares outstanding over two periods not accounting for dilutive securities like convertible bonds. View historical data on Freeport-McMoRan and its competitors.
Is Freeport-McMoRan's Shares Outstanding (Basic Average) too high?
Freeport-McMoRan's current Shares Outstanding (Basic Average) is 1,439 Mil. Overall, Freeport-McMoRan has a GF Score™ of 90/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Freeport-McMoRan's Shares Outstanding (Basic Average) compare to SCCO and IE?
Freeport-McMoRan's Shares Outstanding (Basic Average) of 1,439 Mil can be compared against companies in the Metals & Mining industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Shares Outstanding (Basic Average) for a Metals & Mining company?
A good Shares Outstanding (Basic Average) depends on the Metals & Mining industry context. However, Shares Outstanding (Basic Average) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Shares Outstanding (Basic Average) mean?
A high Shares Outstanding (Basic Average) can signal that a stock is expensive relative to its fundamentals. The average shares outstanding over two periods not accounting for dilutive securities like convertible bonds. View historical data on Freeport-McMoRan and its competitors. Freeport-McMoRan's current Shares Outstanding (Basic Average) is 1,439 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Freeport-McMoRan stock overvalued right now?
Based on GuruFocus' analysis, Freeport-McMoRan (WBO:FCX) is currently considered Significantly Overvalued. The stock's GF Value™ is €40.18, compared to a current price of €54.59 — trading 35.9% above its estimated fair value. The current Shares Outstanding (Basic Average) is 1,439 Mil. Freeport-McMoRan's overall GF Score™ is 90/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shares Outstanding (Basic Average) calculated?
Shares Outstanding (Basic Average) is calculated from a company's financial statements. For Freeport-McMoRan (WBO:FCX), the current Shares Outstanding (Basic Average) is 1,439 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Freeport-McMoRan (WBO:FCX) Overvalued in 2026?
Based on GuruFocus' analysis, Freeport-McMoRan stock appears to be overvalued.
The current stock price of €54.59 is trading 35.9% above its estimated GF Value™ of €40.18.
GuruFocus considers Freeport-McMoRan to be Significantly Overvalued.
Key valuation signals for WBO:FCX:
Shares Outstanding (Basic Average): 1,439 Mil
GF Value™: €40.18 vs. price of €54.59 (35.9% above fair value)
No single metric tells the full story. See the WBO:FCX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona. It sold around 1.1 million metric tons of copper (its share) in 2025, making it the one of the world's largest copper miners by volume. It also sold about 530,000 ounces of gold, mostly from Grasberg, and 74 million pounds of molybdenum. It had about 25 years of copper reserves at the end of December 2025. We expect it to sell about 1.3 million metric tons of copper and 610,000 ounces of gold midcycle in 2030.
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