Wall Street expects a year-over-year increase in earnings on higher revenues when Freeport-McMoRan (FCX) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on July 23, 2024, might help the stock move higher if these key numbers are better than exp ...

In the latest trading session, Freeport-McMoRan (FCX) closed at $50.38, marking a +1.65% move from the previous day. This move outpaced the S&P 500's daily loss of 0.31%. Elsewhere, the Dow gained 0.67%, while the tech-heavy Nasdaq lost 1.09%.Shares of the mining company witnessed a loss of 3.82% over the previous month, beating the performance of the Basic Materials sector with its loss of 6.38% and underperforming the S&P 500's gain of 2.73%.Analysts and investors alike will be keeping a close eye on the ...

Freeport-McMoRan (FCX) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this mining company have returned -8.2%, compared to the Zacks S&P 500 composite's +4% change. During this period, the Zacks Mining - Non Ferrous industry, which Freeport-McMoRan falls in, has lost 6.8%. The key question now is: What could be the stock's future direction?Althoug ...

Core Thesis - The investment thesis for Freeport-McMoRan (FCX) remains strong due to the long-term electrification trend, with expectations for higher revenues and dividends as copper prices rise [1][2]. Company Performance - FCX has experienced an 11.3% rally, outperforming the market's 3.2% increase, largely due to the Panama mine closure leading to perceived supply tightness [1]. - In FQ1'24, FCX reported a realized copper price of $3.94 per pound, a 3.4% increase QoQ and a 45% increase from the 2019 price of $2.73 [1]. - The company's revenues for FQ1'24 reached $6.32 billion, reflecting a 7.1% increase QoQ and a 17.4% increase YoY [1]. Copper Market Dynamics - Spot copper prices have reached $4.50 per pound, a 14.2% increase YoY and a 73% increase from the 2019 average of $2.60, indicating strong market conditions for FCX [2]. - Projections suggest that copper prices may remain elevated due to ongoing demand from electrification in automotive and renewable energy sectors [3]. Future Outlook - FCX management anticipates over $13 billion in adjusted EBITDA and $9 billion in operating cash flow for FY2024, supported by high copper prices [3]. - The demand for copper is expected to surge significantly, with forecasts indicating an 11x increase in the transport sector and a 4.8x increase in global electricity grids by 2050 [3]. Dividend and Stock Performance - FCX's stock has rallied by 34.3% since February 2024 and 48.2% since October 2023, with most capital appreciation linked to spot prices already reflected [7]. - The company maintains a performance-based dividend policy, currently paying $0.30 per share annually, which may not see significant increases in the near term [7].

Core Insights - Electric vehicle (EV) sales are projected to accelerate in 2024, with an expected increase of 20% to 30% following a strong 2023 where U.S. consumers purchased 1.19 million EVs, marking a 46% year-over-year growth [1][2] EV Market Overview - The U.S. EV market reached a significant milestone in 2023, with sales surpassing one million units for the first time [1] - Despite the growth, a lack of charging infrastructure remains a critical barrier for potential EV buyers, with 32% of consumers citing this issue [2] Key EV Stocks - Tesla (TSLA) continues to dominate the EV market with a 51.3% share, despite facing challenges, while competitors like Ford and Hyundai lag significantly in sales [3] - Tesla plans to accelerate the launch of new, more affordable models, which could further boost sales [3] Investment Opportunities - The KraneShares Electric Vehicle and Future Mobility Index ETF (KARS) offers a diversified investment option in the EV sector, with an expense ratio of 0.72% and exposure to various companies involved in EV production and related technologies [5][6] - Copper stocks, particularly Freeport McMoRan (FCX), are expected to benefit from the rising demand for EVs, as each EV requires approximately 2.5 times more copper than traditional vehicles [7] - FCX is projected to see increased demand, with copper consumption expected to nearly double by 2035, driven by the EV market [7]

Freeport-McMoRan (FCX) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this mining company have returned +5.7%, compared to the Zacks S&P 500 composite's +3.2% change. During this period, the Zacks Mining - Non Ferrous industry, which Freeport-McMoRan falls in, has gained 0.5%. The key question now is: What could be the stock's future direction?Whi ...

In the latest market close, Freeport-McMoRan (FCX) reached $51.53, with a +0.64% movement compared to the previous day. This change lagged the S&P 500's 0.7% gain on the day. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 1.1%.The mining company's stock has climbed by 3.64% in the past month, exceeding the Basic Materials sector's gain of 3.13% and lagging the S&P 500's gain of 4.03%.The investment community will be paying close attention to the earnings performance of Freeport-M ...

Subscribers to Schaeffer's Weekend Trader options recommendation service received this FCX commentary on Sunday night, along with a detailed options trade recommendation -- including complete entry and exit parameters. Learn more about why Weekend Trader is one of our most popular options trading services.Freeport-McMoRan Inc (NYSE:FCX) stock hit multi-year highs last week, after a bullish cup-and-handle breakout above $51.40-$51.70. This area is 1.5 times multiple 2023 closing lows, as well as its June 202 ...

A month has gone by since the last earnings report for Freeport-McMoRan (FCX) . Shares have added about 6.2% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Freeport-McMoRan due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Freeport's Earnings and Revenues Surpass Est ...

Key TakeawaysThe S&P 500 edged 0.1% higher on Friday, May 17, 2024, ending the week just a few points below its all-time high posted Wednesday. Shares of mining company Freeport-McMoRan hit a 52-week high as copper prices jumped to record levels.Paramount Global shares dropped amid reports that its board is looking into replacing its CEO with an executive committee as buyout negotiations continue. Major U.S. equities indexes were mixed to close out a trading week that saw all three market gauges pop to all- ...