Freeport-McMoRan Inc. (FCX) is set to release third-quarter 2024 results before the opening bell on Oct. 22. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. The mining giant's earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 21.7%, on average. FCX is expected to have gained from higher copper prices and improved sales volumes in the third quarter. FCX stock has gained 36.1% in the past year com ...

The outlook for the price of copper is excellent, and this stock is ideally positioned to benefit. Copper miner Freeport McMoRan (FCX 1.06%) has significant potential to soar over the coming decade, in line with a rise in the price of copper and the company's ability to expand production. Here's why. Demand and supply for copper support higher prices The case for copper often relies on assumptions about future demand. The metal is a vital part of the global economy due to its uses across a wide range of sec ...

Core Viewpoint - Freeport-McMoRan is positioned to benefit from the increasing demand for copper driven by the global shift towards electrification and renewable energy sources [1][3][4] Reasons to Buy - Copper is an essential industrial metal with diverse applications, particularly in electrical conductivity, making it crucial for the growing use of electricity in various sectors, including electric vehicles and renewable energy [2][3] - The price of copper has more than doubled since its lowest point in 2020, indicating strong demand and potential for further price increases [3][4] Reasons to Hold - Freeport-McMoRan's stock has increased over 750% since its low in March 2020, suggesting that much of the positive outlook may already be reflected in the stock price [5] - The company offers a modest dividend yield of 1.2%, which includes a variable component that rewards shareholders when copper prices are high, providing an additional incentive to hold the stock [6] Reasons to Sell - The volatility of commodity prices poses a risk, as external factors such as supply disruptions or government interventions can lead to significant price changes in copper [7][8] - Investors who have realized substantial gains may consider locking in profits, especially if there are concerns about a potential downturn in copper prices [8][9] Overall Assessment - Freeport-McMoRan's performance is closely tied to copper prices, and belief in the long-term demand for copper is essential for investment decisions regarding the company [10]

The copper market is caught between a stimulus-fueled surge and the looming specter of Trump 2.0 tariffs. According to JPMorgan's Bill Peterson, investors are riding high on China's stimulus optimism, but the road ahead may be rockier than expected.China Stimulus: A Boost Or Bubble?China's recent stimulus announcements have sent copper stocks, including Teck Resources Ltd TECK and Freeport-McMoRan Inc FCX, climbing — TECK up 6% and FCX up 8% since late September.But Peterson warns that expectations might ha ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Freeport-McMoRan (FCX) .Freeport-McMoRan currently has an average brokerag ...

Group 1: Company Overview - Freeport-McMoRan's stock price has increased by approximately 35% over the past year, benefiting from improved pricing and strong demand, particularly in the U.S. [1] - The company produced 4.1 billion pounds of copper, 1.7 million ounces of gold, and 81 million pounds of molybdenum last year [5]. Group 2: Copper Market Outlook - Copper demand and pricing are influenced by market fundamentals, with solid demand and low inventories pushing prices higher, peaking at nearly $5.00 per pound earlier this year [2]. - Despite recent weakness in the copper market, the medium- and long-term outlook remains positive, driven by trends such as decarbonization and electrification [3]. Group 3: Growth Potential - Freeport-McMoRan anticipates its copper sales will rise to 4.3 million pounds by 2026, supported by investments in improved leaching methods [5]. - The company is exploring multiple expansion projects, including a $3.5 billion project at the Bagdad mine, a potential $7.5 billion expansion at the Al Abra mine, and a $4 billion project in Indonesia, which could collectively add over 1.5 billion pounds of annual copper production capacity [6]. Group 4: Financial Position - Freeport-McMoRan ended the second quarter with only $300 million of net debt, significantly reduced from over $3 billion in mid-2021, positioning the company well for future expansion [6]. - The strong balance sheet allows the company to return half of its free cash flow to shareholders through dividends and share repurchases, with expectations of growing free cash flow in the future [7]. Group 5: Investment Perspective - While copper prices may fluctuate in the near term, the long-term outlook for copper is very bright, and Freeport is well-positioned to capitalize on growth opportunities [8].

Freeport-McMoRan (FCX) closed the latest trading day at $50.03, indicating a +0.99% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 0.61%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.33%.Coming into today, shares of the mining company had gained 18.49% in the past month. In that same time, the Basic Materials sector gained 6.17%, while the S&P 500 gained 5.36%.The upcoming earnings release of Freeport-McMoRan will ...

Key TakeawaysMining company stocks sank Tuesday after China's latest moves to boost its economy fell short of a hoped-for major stimulus package.The country's economic planning agency maintained that China still expects to meet its annual economic goals.The news sent prices for gold, silver, copper, and other metals lower Tuesday. Shares of Freeport-McMoRan (FCX) and other miners tumbled Tuesday, along with the prices of key metals, after China announced economic measures that fell short of a much-anticipat ...

In the latest market close, Freeport-McMoRan (FCX) reached $50.55, with a +1.57% movement compared to the previous day. This change outpaced the S&P 500's 0.9% gain on the day. Meanwhile, the Dow gained 0.81%, and the Nasdaq, a tech-heavy index, added 1.22%. Shares of the mining company witnessed a gain of 20.22% over the previous month, beating the performance of the Basic Materials sector with its gain of 7.23% and the S&P 500's gain of 3.15%. Investors will be eagerly watching for the performance of Free ...

The copper miner's stock is rising due to a favorable end-market environment. Shares in copper miner Freeport-McMoRan (FCX 0.87%) rose by 12.7% in September, according to data provided by S&P Global Market Intelligence. The rise came after China announced a series of measures to stimulate its economy in the face of a weakening housing market and pressure on its economic growth target of about 5%. China adds liquidity China's appetite for copper is the swing factor in determining global demand, and the annou ...