Freeport-McMoRan Inc. (NYSE: FCX) faces financial impact after a deadly mud rush at its Grasberg Block Cave mine in Indonesia, killing two and leaving five missing. Scotiabank downgraded the stock and revised forecasts due to production deferrals. The affected mine’s output is expected to be minimal in Q4 2025.

The Grasberg Block Cave, significant for copper and gold, suffered damage impacting production until 2027. Operations at unaffected mines are set to resume, but the affected mine’s restart is anticipated in 2026. Earnings forecasts were cut post-incident, with revenue expected to increase over the next few years.

Scotiabank slashed EBITDA estimates and NAV, projecting weaker free cash flow until 2027. FCX shares fell by 5.51% to $35.60. Analysts foresee a phased restart of the impacted mine and lowered projections for earnings, but anticipate revenue growth in the coming years.

Read more at Yahoo Finance: What Freeport’s Mud Rush Disaster Means For Its Stock