FreePort-McMoRan Inc.’s stock rose 6.3% on Wednesday after the mining giant’s fourth-quarter profit and revenue beat Wall Street projections, with its copper volumes exceeding its earlier estimate.FreePort-McMoRan FCX, +4.83% also said it expects to produce more gold in 2024, while its copper production will remain flat.The company said its fourth-quarter earnings for the three months that ended Dec. 31 fell to $388 million, or 27 cents a share, from $697 million, or 48 cents a share, in the year-ago quarte ...

From being a hedge against inflation to use cases in jewelry and electronics or being a tangible asset with no counterparty risk, precious metals have always had a different appeal. Plus, they hold a high economic value due to their scarcity and usefulness. Not everybody agrees about their value as reliable investments. However, we cannot deny that they have their place in the market. Investors who want exposure to these assets but don’t want the headache of buying, physically securing, and selling them mig ...

Wall Street analysts forecast that Freeport-McMoRan (FCX) will report quarterly earnings of $0.23 per share in its upcoming release, pointing to a year-over-year decline of 55.8%. It is anticipated that revenues will amount to $5.84 billion, exhibiting an increase of 1.5% compared to the year-ago quarter.Over the last 30 days, there has been a downward revision of 0.6% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideratio ...

PALM BEACH, Fla., Jan. 11, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - While the pandemic caused significant disruption to the copper mining market growth, In post-pandemic 2022, prices of technological materials, energy, fuels, and services increased significantly, influencing the level of costs generated by the companies. On the other hand, the uncertainty about the future global economic situation resulted in the weakening of the USD and increase in USD-denominated copper prices, translatin ...

Freeport-McMoRan (FCX) closed the latest trading day at $41.30, indicating a -0.96% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.57%. Meanwhile, the Dow gained 0.46%, and the Nasdaq, a tech-heavy index, added 0.75%.Prior to today's trading, shares of the mining company had gained 11.44% over the past month. This has outpaced the Basic Materials sector's gain of 2.16% and the S&P 500's gain of 3.4% in that time.The investment community will be payin ...

In the latest trading session, Freeport-McMoRan (FCX) closed at $41.70, marking a -1.18% move from the previous day. This move lagged the S&P 500's daily loss of 0.15%. Meanwhile, the Dow experienced a drop of 0.42%, and the technology-dominated Nasdaq saw an increase of 0.09%.Coming into today, shares of the mining company had gained 11.43% in the past month. In that same time, the Basic Materials sector gained 3.91%, while the S&P 500 gained 3.5%.The investment community will be closely monitoring the per ...

More supply/demand imbalance for copper … the “commodity comeback” of 2024 … an important live event next Tuesday with Louis Navellier … the power of “social signals” for earningsYesterday brought yet another headline supporting what we believe is a fat pitch opportunity for putting a wad of cash in your pocket.From CNBC:Copper could skyrocket over 75% to record highs by 2025 — brace for deficits, analysts sayIf you believe in a soft landing in 2024… if you’re a tech/AI bull this decade… if you support the ...

Shares in copper miner Freeport-McMoRan (FCX -1.71%) rose 14.1% in December, according to data provided by S&P Global Market Intelligence. The move comes as a consequence of two related factors.First, the price of copper moved higher again in December. After hitting a low of $3.55 per pound in October, the price moved higher through November and then December, hitting a peak of $3.93, and at the time of writing, it stands at $3.85. While it's never a good idea to get too wrapped up in short-term price movem ...

Freeport-McMoRan (FCX) ended the recent trading session at $41.37, demonstrating a -1.71% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.8%. On the other hand, the Dow registered a loss of 0.76%, and the technology-centric Nasdaq decreased by 1.18%.The the stock of mining company has risen by 15.09% in the past month, leading the Basic Materials sector's gain of 3.42% and the S&P 500's gain of 3.4%.Market participants will be closely following th ...

The New Year is usually a good time to try to refresh a portfolio and buy stocks worth holding for the long run. I think MSC Industrial (MSM -0.84%), Freeport-McMoRan (FCX -0.56%), and On Semiconductor (ON -1.10%) are three names worth looking at closely. They are all companies with excellent megatrends behind them and look set for long-term growth.MSC Industrial for the U.S. industrial renaissanceSignificant events often change how companies think about running their businesses. In this case, the COVID-19 ...