The most recent trading session ended with Freeport-McMoRan (FCX) standing at $50.74, reflecting a -0.35% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.74%. On the other hand, the Dow registered a loss of 0.01%, and the technology-centric Nasdaq increased by 1.68%.The the stock of mining company has risen by 17.3% in the past month, leading the Basic Materials sector's gain of 3.54% and the S&P 500's gain of 0.8%.The investment community wi ...

Core Viewpoint - Copper is positioned to outperform gold and other commodities, driven by strong demand from global manufacturing and AI, regardless of Federal Reserve interest rate cuts in 2024 [1][11]. Group 1: Commodity Supercycle - A new commodity supercycle began in the summer of 2020, leading to significant investment gains in related commodities, including copper [2]. - Commodity supercycles are characterized by initial investment gains followed by potential losses in later stages, making early monitoring crucial [3]. Group 2: Current Market Dynamics - Despite a decline in commodity prices after a peak in 2022, the supercycle is not over, as price fluctuations are common and long-term supply issues persist [5]. - The "commodity comeback" is anticipated to start in 2024, suggesting a resurgence in commodity prices, particularly copper [6]. Group 3: Investment Case for Copper - Copper has shown strong momentum, outperforming the S&P 500, with a 23% increase in the Global X Copper Miners ETF (COPX) compared to the S&P's 7% rise since early February [10][11]. - Historical data indicates that if the Federal Reserve cuts interest rates, copper is likely to outperform other commodities, including gold [11]. - The demand outlook for copper is robust, driven by its essential role in technology, AI advancements, and the green energy transition [12]. Group 4: Supply and Demand Factors - Current copper supply is insufficient to meet projected demand, which could nearly double by 2035, exacerbated by challenges faced by mining companies [12]. - The construction of AI-related data centers is expected to significantly increase copper demand, with estimates suggesting a 0.5% to 1% rise in global demand [14]. - China's economic policies and growth targets are likely to boost copper demand, as the country consumes approximately 60% of the world's copper [15]. Group 5: Investment Strategies - The Global X Copper Miners ETF (COPX) is recommended as a strong investment option, holding a diversified portfolio of top copper miners [16]. - Freeport McMoRan (FCX) is highlighted as a specific investment opportunity, with previous significant returns for investors [16].

Stock Performance - Freeport-McMoRan (FCX) closed at $49.47, up 0.59% from the previous session, underperforming the S&P 500 (+1.11%), Dow (+0.8%), and Nasdaq (+1.24%) [1] - Over the past month, FCX shares gained 23.54%, outperforming the Basic Materials sector (+5.96%) and the S&P 500 (+0.48%) [1] Earnings and Revenue Projections - FCX's upcoming earnings report is expected on April 23, 2024, with projected EPS of $0.31, a 40.38% decrease YoY, and revenue of $5.64 billion, a 4.67% increase YoY [1] - For the full year, Zacks Consensus Estimates project EPS of $1.51 (a 1.95% decrease YoY) and revenue of $23.72 billion (a 3.76% increase YoY) [2] Analyst Estimates and Zacks Rank - Recent changes to analyst estimates for FCX reflect optimism about the company's business and profitability [2] - The Zacks Rank system, with FCX currently holding a 3 (Hold) rank, has a strong track record, with 1 stocks averaging +25% annual returns since 1988 [3] - The Zacks Consensus EPS estimate for FCX has moved 0.86% lower in the past month [3] Valuation and Industry Ranking - FCX is trading at a Forward P/E ratio of 32.56, a premium compared to its industry's Forward P/E of 16.81 [3] - The Mining - Non Ferrous industry, part of the Basic Materials sector, has a Zacks Industry Rank of 92, placing it in the top 37% of all industries [3] - Research shows that top 50% rated industries outperform the bottom half by a factor of 2 to 1 [3]

Freeport-McMoRan's exposure to copper is taking the stock sharply higher.Shares in copper miner Freeport-McMoran (FCX 1.19%) surged higher by 24.4% in March, according to data provided by S&P Global Market Intelligence. You don't have to look too far for the reasons behind the move; the price of copper started the month at $3.84 per pound and ended at $4.04 per pound. Moreover, at the time of writing, it's even higher at $4.23. What the move in copper means to Freeport-McMoRan investorsOn every quarterly ea ...

Amidst intermediate corrections or rallies, asset classes tend to have an extended period of bull or bear market. A secular bull market for an asset class is a perfect time to remain invested. On the other hand, price and time correction can extend beyond a decade in bear markets. This column discusses stocks for exposure to an undervalued asset class likely to witness a comeback rally.Without extending the suspense, industrial commodities are the most undervalued asset class. To put things into perspective ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Freeport-McMoRan (FCX) , which belongs to the Zacks Mining - Non Ferrous industry.This mining company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 25.22%.For the last reported quarter, Freeport-McMoRan came out with earnings of $0.27 per share vers ...

Elena Bionysheva-Abramova/iStock via Getty ImagesWe previously compared Freeport-McMoRan (NYSE:FCX) in December 2023, discussing why we finally rerated the stock as a Buy, attributed to the higher copper spot prices, expanded production volumes, and lower operating costs by 2024, likely to boost the miner's near-term top and bottom lines. Most importantly, we believed that its dividend payouts might be raised in 2024, thanks to the healthier balance sheet and richer free cash flow generation, offering o ...

Freeport-McMoRan (FCX) closed the most recent trading day at $44.48, moving -0.29% from the previous trading session. This move lagged the S&P 500's daily gain of 0.63%. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq gained 0.82%.The mining company's shares have seen an increase of 14.89% over the last month, surpassing the Basic Materials sector's gain of 5.32% and the S&P 500's gain of 1.76%.Analysts and investors alike will be keeping a close eye on the performance of Freeport-McMoRan in ...

Freeport-McMoRan (FCX) shares ended the last trading session 7.6% higher at $43.41. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10.1% gain over the past four weeks.FCX’s rally appears to be driven by a surge in copper prices as China’s biggest copper smelters agreed to reduce production. Copper prices surged to their highest level in seven months in London yesterday after Chinese smelters agreed on a joint prod ...

The latest trading session saw Freeport-McMoRan (FCX) ending at $40.42, denoting a +1.43% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 0.11%. On the other hand, the Dow registered a gain of 0.12%, and the technology-centric Nasdaq decreased by 0.41%.Prior to today's trading, shares of the mining company had gained 6.66% over the past month. This has outpaced the Basic Materials sector's gain of 4.98% and the S&P 500's gain of 2.7% in that time.The investment community ...