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 ...

This account is managed by Noah's Arc Capital Management. Our goal is provide Wall Street level insights to main street investors. Our research focus is mainly on 20th century stocks (old economy) undergoing a 21st century transformation, but occasionally we'll write on companies that help transform 20th century firms as well. We look for innovations in a business model that will cause a stock to change dramatically. Associated with SA contributors Thomas Potter and Elijah Buell.Analyst’s Disclosure: I/we h ...

Since China launched a series of stimulus measures, US-listed casino and copper stocks have performed exceptionally well. A research company is suggesting investors consider buying these stocks.Adam Parker, CEO of Trivariate Research, indicated that traders should focus on US-listed stocks that have seen significant gains recently and are typically correlated with Chinese-listed stocks. He noted that casino or copper mining stocks might be the most meaningful choices.In a recent client report, Trivariate hi ...

Industry Overview - The copper sector includes companies involved in exploration, mining, refining, and distribution of copper, which is essential for construction, electronics, and renewable energy technologies [1] - Copper stocks reflect global economic health and infrastructure development trends, with demand increasing during economic growth and urbanization [1] Investment Considerations - Evaluating copper stocks requires assessing reserve quality, production costs, geographic diversification, debt levels, and exposure to end markets [2] - Environmental, social, and governance (ESG) factors are important in the mining industry [2] Company Analysis: Southern Copper Corporation (SCCO) - Southern Copper Corporation is a major integrated copper producer with operations primarily in Mexico and Peru, known for having large copper reserves [3] - In Q2 2024, Southern Copper reported net sales of $3,118.3 million, a 35.5% increase, and net income of $950.2 million, a 73.6% increase, with copper production growing by 6.6% quarter-on-quarter [3] - The company declared a quarterly cash dividend of $0.60 per share and a stock dividend of 0.0056 shares per share of common stock [3] Company Analysis: Freeport-McMoRan Inc. (FCX) - Freeport-McMoRan is one of the largest publicly traded copper producers, operating significant mines in North America, South America, and Indonesia [5] - The company declared a cash dividend of $0.15 per share, consisting of a base and variable dividend of $0.075 each, payable on November 1, 2024 [5] - Year-to-date, shares of Freeport-McMoRan have increased by 22.29% [5]

Core Viewpoint - Four stocks in the materials sector are identified as potentially overbought, indicating a warning for momentum-focused investors as of September 27, 2024 [1] Company Summaries - **Freeport-McMoRan Inc (FCX)** - Declared cash dividends of 15 cents per share, payable on November 1, to shareholders of record as of October 15 - Stock gained approximately 17% over the past five days, reaching a 52-week high of $55.24 - RSI Value: 76.95; Price Action: Shares rose 7.5% to close at $51.91 on Thursday [2] - **Mp Materials Corp (MP)** - Approved a $300 million increase to its share repurchase program, totaling $600 million - Stock gained around 20% over the past five days, with a 52-week high of $20.85 - RSI Value: 78.23; Price Action: Shares increased 4.6% to close at $16.90 on Thursday [3] - **ArcelorMittal SA (MT)** - Upgraded from Hold to Buy by Deutsche Bank, with a price target raised from $29 to $31 - Stock gained about 10% over the past month, reaching a 52-week high of $29.01 - RSI Value: 72.57; Price Action: Shares rose 5.1% to close at $25.93 on Thursday [4] - **Southern Copper Corp (SCCO)** - Maintained an Underweight rating by Morgan Stanley, with a price target increased from $97 to $100 - Stock jumped approximately 15% over the past five days, with a 52-week high of $129.07 - RSI Value: 73.34; Price Action: Shares gained 8.2% to close at $120.43 on Wednesday [5]

China's move to stimulate its economy pleased copper bulls and Freeport McMoRan shareholders alike.Shares in copper miner Freeport McMoRan (FCX 7.45%) rose by 16.6% in the week to Friday morning. The move comes after China's central bank took some widely anticipated measures to stimulate growth in the Chinese economy. In turn, that encouraged investors to buy copper -- China is seen as the swing factor in demand for copper -- and the price of copper rallied from around $4.27 per pound at the start of the we ...

Freeport-McMoRan (FCX) shares soared 7.9% in the last trading session to close at $48.72. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.1% loss over the past four weeks.FCX’s rally appears to be driven by a spike in copper and gold prices.  Copper prices surged to their highest level in more than two months on improving demand in top consumer China, backed by the announcement of economic stimulus measures by the government of ...

Key TakeawaysThe S&P 500 added 0.3% on Tuesday, Sept. 24, as a report showed a slump in consumer confidence and China unveiled an economic stimulus package.Shares of mining giant Freeport-McMoRan soared as copper prices jumped following Beijing's monetary policy announcement.Visa shares tumbled after the U.S. Department of Justice filed an antitrust lawsuit against the credit card issuer. Major U.S. equities indexes ticked higher on Tuesday, shaking off a report that revealed a steeper-than-expected drop in ...

Group 1 - Freeport-McMoRan shares surged approximately 8% due to rising copper and gold prices, driven by China's economic stimulus package [1][2] - Copper futures increased around 4%, reaching their highest level since mid-July, following China's announcement of measures to boost its housing and financial markets [1][3] - Gold prices have reached record highs, influenced by the Federal Reserve's interest-rate cuts and global monetary easing, with analysts predicting potential prices of $3,000 per ounce by mid-2025 [2][4] Group 2 - The recent uptick in copper prices is attributed to the weakening of the dollar, making copper cheaper for international buyers, which could enhance global demand [3] - China's stimulus package is expected to significantly impact copper demand, particularly in the property and construction sectors, where copper is extensively used [3] - The ongoing uncertainty surrounding the U.S. presidential election may further drive investment in gold as a safe haven asset [4]

Group 1: Economic Stimulus Impact - The People's Bank of China cut the reserve requirement ratio by 50 basis points and the seven-day reverse purchase rate to 1.5% [1] - These stimulus measures resulted in gains of 4.2% for China's Shanghai Composite and 4.1% for Hong Kong's Hang Seng [1] Group 2: Copper Market Response - The stimulus measures are boosting copper prices as traders anticipate stronger demand from China, a major metal consumer [1] - Mining companies such as Rio Tinto plc, Southern Copper Corp, and Freeport-McMoRan Inc are experiencing positive market conditions [1] Group 3: Company Performance - Rio Tinto (RIO) is up 4.4% to $67.44, on track for its best single-day percentage gain in over a year, and trading at its highest level since July [1] - Southern Copper Corp (SCCO) is up 7.4% to $113.91, adding to a 34.2% year-to-date lead and aiming for its best day since November 2022 [2] - Freeport-McMoRan Inc (FCX) is up 7.8% to $48.67, extending its bounce from the $34 level and hitting its highest level in roughly two months, with a 30% increase over the last 12 months [2][2]