COMP <GO>

FCX vs NEM // OPTIONS IMPLIED MOVE & PUT/CALL SKEW

Freeport-McMoRan Inc. (NYSE) VS. Newmont Corporation (NYSE) • 15-METRIC TALLY: FCX 1 — NEM 14

▲ OPTIONS IMPLIED MOVE & PUT/CALL SKEW LEADER: FCX

LAST: $62.47 (-5.55%) • MKT CAP: $94.98B

options-implied-move

6.70%

LAST: $106.61 (-4.64%) • MKT CAP: $116.18B

options-implied-move

7.00%

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (FCX VS. NEM) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	FCX	NEM	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	26.10%	41.00%	-14.90	NEM	/gross-margins <GO>
Return on Invested Capital (ROIC)	21.50%	21.80%	-0.30	NEM	/roic <GO>
EV/EBITDA & P/E Valuation	13.4x	11.9x	+1.50	NEM	/valuation <GO>
Free Cash Flow Yield	4.71%	8.02%	-3.31	NEM	/fcf-yield <GO>
Operating Margin	25.90%	38.10%	-12.20	NEM	/operating-margins <GO>
Net Profit Margin	8.80%	31.30%	-22.50	NEM	/net-margins <GO>
Revenue Growth (YoY)	0.10%	21.30%	-21.20	NEM	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.91%	0.95%	-0.04	NEM	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	3.08	4.16	-1.08	NEM	/balance-sheet <GO>
Piotroski F-Score Quality	7/9	9/9	-2.00	NEM	/piotroski-score <GO>
Options Implied Move & Put/Call Skew ACTIVE	6.70%	7.00%	-0.30	FCX	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	30.2	36.1	-5.93	NEM	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	0.95	1.04	-0.09	NEM	/macro-sensitivity <GO>
Forward P/E Multiple	40.1x	13.8x	+26.30	NEM	/forward-pe <GO>
Enterprise Scale & Market Cap	$94.98B	$116.18B	-$21.20B	NEM	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	FCX REV	NEM REV	FCX GROSS %	NEM GROSS %	FCX FCF	NEM FCF
FY 2025	$25.19B	$22.67B	26.1%	44.0%	$4.48B	$9.31B
FY 2024	$25.17B	$18.68B	29.3%	44.0%	$6.03B	$5.52B
FY 2023	$22.70B	$11.81B	44.0%	44.0%	$4.26B	$2.23B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

FCX // BETA 0.95

NEM // BETA 1.04