Diamond Hill Capital released its “Mid Cap Strategy” third-quarter 2025 investor letter, reporting a 4.49% net return, underperforming the Russell Midcap Index. Small-cap stocks rose by over 12%, large-cap stocks by 8%, and mid-cap stocks by 5%. Top pick Freeport-McMoRan Inc. saw a 19.64% one-month return and closed at $51.41 per share on December 30, 2025.

In the third quarter, Freeport-McMoRan Inc. faced challenges with a mudslide at its Grasberg Block Caves mine in Indonesia, resulting in seven confirmed deaths. The company is assessing the damage, impacting Q3 production. However, production is expected to ramp back up over 2026 and return to pre-incident levels by 2027.

Freeport-McMoRan Inc. (NYSE:FCX) saw a decrease in hedge fund holdings, with 83 portfolios holding the stock at the end of the third quarter. While the potential of Freeport-McMoRan Inc. as an investment is acknowledged, AI stocks are seen as offering greater upside potential with less downside risk by some analysts.

Read more at Yahoo Finance: Here’s Why Freeport-McMoRan (FCX) Slipped in Q3