Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Freeport-McMoRan Inc. (FCX) Halal?

PASS

Freeport-McMoRan Inc. · NYSE: FCX · Materials

The short answer

Yes - Freeport-McMoRan Inc. (FCX) passes this Shariah stock screen at all three gates. Freeport-McMoRan, the Phoenix-based pure-play metals miner, earns its revenue from copper, gold, and molybdenum mining and smelting (Q2 2026 revenues $7,029M) - none of which involve alcohol, tobacco, gambling, pork, conventional banking, weapons, or adult entertainment. The financial ratios pass: total debt of $9,386M is about 9.27% of its ~$101.20B market cap ($69.28/share, October 2026), below the ~33% ceiling, and interest income is effectively ~0% (not separately disclosed in the filings; Zoya independently records $0), below the 5% ceiling. Zoya independently rates Freeport-McMoRan Shariah-compliant. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

Gate 1 — Business activity: PASS

Freeport-McMoRan Inc. (NYSE: FCX), headquartered in Phoenix, Arizona (incorporated 1987), is a pure-play metals miner. Per its Q2 2026 Form 10-Q (period ended June 30, 2026; filed August 6, 2026), copper mining is its core business across 10 mines: North America (Morenci 72%-owned, Bagdad, Safford, Sierrita, Miami, Tyrone, Chino), South America (Cerro Verde, Peru 55%; El Abra, Chile), and Indonesia (Grasberg minerals district, ~49% economic interest via PT Freeport Indonesia) - plus gold as a byproduct (mostly Grasberg; ~530k oz sold in 2025) and molybdenum (Henderson & Climax primary mines in Colorado; ~74M lbs sold in 2025). It also owns smelting/refining (Atlantic Copper in Spain; the new PTFI smelter in Indonesia). Business-screen implication (factual): metals mining and smelting - no alcohol, tobacco, gambling, pork, conventional banking/insurance, weapons, or adult entertainment. One stale third-party profile still lists 'oil and gas properties as of Dec 31, 2021' - outdated: FCX divested its energy portfolio in the mid-2010s. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Per Freeport-McMoRan's Form 10-Q for the quarterly period ended June 30, 2026 (filed August 6, 2026; US$ millions; figures verified against the filing text reproduced at stocktitan.net and SEC-cited line items at stock-analysis-on.net, since sec.gov blocked direct fetch), total debt at June 30, 2026 was: current portion of debt $1,220M + long-term debt, less current portion $8,166M = $9,386M. Against a market cap of about $101.20B ($69.28 per share, Finnhub, October 2026; sanity check: 1,436,017,523 shares outstanding x $69.28 = about $99.49B - within ~2%), debt / market cap is about 9.27% - below the ~33% ceiling. Cash and cash equivalents of $4,080M is about 4.03% of market cap. Total assets were $59,727M. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

Per Freeport-McMoRan's Q2 2026 Form 10-Q (period ended June 30, 2026; filed August 6, 2026), FCX discloses NO separate interest-income line - interest is netted into 'Interest expense, net' ($95M in Q2 2026). Zoya independently records FCX FY2025 interest income as $0 on revenue of $25,741,000,000 (from its company data as of September 2026) - about 0% of revenue, below the 5% non-compliant income ceiling. So interest income is effectively ~0% on the evidence available. Gate 3 passes. Facts only - no interest-income figure is asserted beyond what the filing discloses.

Key figures used

Frequently asked questions

What does Freeport-McMoRan do?

Freeport-McMoRan Inc. (NYSE: FCX), headquartered in Phoenix, Arizona (incorporated 1987), is a pure-play metals miner. Per its Q2 2026 Form 10-Q (period ended June 30, 2026; filed August 6, 2026): copper mining is its core business across 10 mines - North America (Morenci 72%-owned, Bagdad, Safford, Sierrita, Miami, Tyrone, Chino), South America (Cerro Verde, Peru 55%; El Abra, Chile), and Indonesia (Grasberg minerals district, ~49% economic interest via PT Freeport Indonesia) - plus gold as a byproduct (mostly Grasberg) and molybdenum (Henderson & Climax primary mines in Colorado). It also owns smelting/refining (Atlantic Copper in Spain; the new PTFI smelter in Indonesia). Its common stock trades on the New York Stock Exchange (ticker FCX). Q2 2026 revenues were $7,029M (FY2025 revenues $25,741M per the FY2025 10-K filed Feb 13, 2026).

Why does Freeport-McMoRan pass this Shariah stock screen?

Freeport-McMoRan passes all three gates of this Shariah stock screen. Gate 1 (business activity): pure-play copper/gold/molybdenum mining and smelting - no alcohol, tobacco, gambling, pork, conventional banking/insurance, weapons, or adult entertainment; a stale third-party profile's 'oil and gas' label refers to the energy portfolio divested in the mid-2010s. Gate 2 (debt): total debt of $9,386M is about 9.27% of its ~$101.20B market cap (October 2026), below the ~33% ceiling. Gate 3 (non-compliant income): FCX discloses no separate interest-income line (interest is netted into 'Interest expense, net' of $95M in Q2 2026); Zoya independently records FCX FY2025 interest income as $0 on revenue of $25,741M - about 0%, below the 5% ceiling. Result: PASS. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

What is Freeport-McMoRan's interest-bearing debt ratio?

Per Freeport-McMoRan's Form 10-Q for the quarterly period ended June 30, 2026 (filed August 6, 2026; US$ millions; figures verified against the filing text reproduced at stocktitan.net and SEC-cited line items at stock-analysis-on.net, since sec.gov blocked direct fetch), total debt at June 30, 2026 was: current portion of debt $1,220M + long-term debt, less current portion $8,166M = $9,386M. Against a market cap of about $101.20B ($69.28 per share, Finnhub, October 2026; sanity check: 1,436,017,523 shares outstanding x $69.28 = about $99.49B - within ~2%), debt / market cap is about 9.27% - below the ~33% ceiling. Cash and cash equivalents of $4,080M is about 4.03% of market cap. Gate 2 passes. Facts only.

How much interest income does Freeport-McMoRan earn?

Per Freeport-McMoRan's Q2 2026 Form 10-Q (period ended June 30, 2026; filed August 6, 2026), FCX discloses NO separate interest-income line - interest is netted into 'Interest expense, net' ($95M in Q2 2026). Zoya independently records FCX FY2025 interest income as $0 on revenue of $25,741,000,000 (from its company data as of September 2026) - about 0% of revenue, below the 5% non-compliant income ceiling. So interest income is effectively ~0% on the evidence available. Gate 3 passes. Facts only - no interest-income figure is asserted beyond what the filing discloses.

Do Zoya, Musaffa, or ShariaPortfolio cover Freeport-McMoRan?

Zoya covers Freeport-McMoRan at zoya.finance/stocks/fcx: 'As of September 2026, FCX is Shariah-compliant and therefore considered halal to invest in,' reporting FY2025 revenue of $25,741,000,000 and interest income of $0. Musaffa: no FCX stock page found in web searches - honestly reported as no coverage found, not invented. ShariaPortfolio: no FCX stock page found in web searches - honestly reported as no coverage found, not invented.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).