FCX drawdown: 12.7% below the all-time high
Freeport-McMoRan Inc. (FCX) is 12.7% below its all-time high, set Jun 2, 2026 (as of market close, Jul 24, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (1995).
- Below all-time high
- −12.7%
- 87.3% of ATH
- All-time high
- $71.72
- Jun 2, 2026
- Time below the high
- 52 days
- since Jun 2, 2026
- Worst-ever drawdown
- −94.1%
- Jan 13, 2016
- Longest underwater
- 17.7 yrs
- between all-time highs
- Today's level first reached
- May 20, 2008
- 18.2 yrs ago
- Last time this deep
- May 20, 2026
- in a previous episode
% of all-time high since 1995#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of FCX, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| May 20, 2008 | Jan 13, 2016 | −94.1% | 7.6 yrs | Jan 28, 2026 | 17.7 yrs |
| May 16, 1996 | Nov 17, 2000 | −81.3% | 4.5 yrs | Oct 7, 2003 | 7.4 yrs |
| Apr 19, 2006 | Jun 13, 2006 | −39.3% | 55 days | May 7, 2007 | 13 mo |
| Dec 8, 2003 | May 13, 2004 | −38.6% | 5 mo | Sep 26, 2005 | 1.8 yrs |
| Oct 29, 2007 | Jan 23, 2008 | −34.4% | 3 mo | Apr 22, 2008 | 6 mo |
| Jul 20, 2007 | Aug 16, 2007 | −26.2% | 27 days | Sep 18, 2007 | 2 mo |
| Feb 1, 2006 | Mar 9, 2006 | −24.8% | 36 days | Apr 6, 2006 | 2 mo |
| Feb 25, 2026 | Mar 20, 2026 | −24.3% | 23 days | Apr 17, 2026 | 51 days |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 1995: how far FCX stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: FCX is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ
- How far is FCX from its all-time high?
- FCX is currently 12.7% below its all-time high, set Jun 2, 2026 (as of market close, Jul 24, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest FCX drawdown ever?
- The deepest decline on record in our data (since 1995) took the stock 94.1% below its prior high, bottoming Jan 13, 2016. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 1995 (split-adjusted). "All-time" means since our price data begins — FCX may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.