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]

Freeport-McMoRan (FCX) ended the recent trading session at $44.53, demonstrating a -1.35% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.19%. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, lost 0.36%.Coming into today, shares of the mining company had gained 4.25% in the past month. In that same time, the Basic Materials sector gained 2.2%, while the S&P 500 gained 2.06%.The upcoming earnings release of Freeport-McMoRan will ...

Group 1: Precious Metals Market Overview - Investors have increasingly turned to safe haven precious metals like gold and silver, driving prices up by approximately 33% over the past year, with gold nearing $2,600 per ounce as of mid-September [1] - Emerging market central banks have been accumulating gold, coinciding with a weakening U.S. dollar and expectations of interest rate cuts by the Federal Reserve, contributing to the surge in gold prices [1] Group 2: Investment Opportunities in Gold - Investors can gain exposure to gold through various means, including holding gold bullion, investing in gold ETFs like SPDR Gold Shares ETF (NYSE: GOLD), which has risen over 32% in the last year, or targeting gold mining stocks [2] Group 3: Freeport-McMoRan Inc. (FCX) Analysis - Freeport-McMoRan is a vertically integrated mining company producing gold, copper, and molybdenum, with a diversified portfolio that mitigates risks from environmental factors [3] - The company reported an EPS of $0.46, exceeding analyst expectations, and revenue increased by nearly 16% year-over-year, with projected earnings growth of almost 40% [3][4] - Analysts have set an average price target of $53.07 for Freeport-McMoRan, indicating a potential upside of 23% from current levels, although the stock has experienced volatility, being down about 20% from its May highs [4] Group 4: Newmont Corp. (NEM) Analysis - Newmont Corp. is the largest publicly traded gold mining company, with a market valuation exceeding $61 billion and a stock improvement of 31% over the past year [5] - The company is expected to achieve future earnings growth of nearly 21%, and its forward P/E ratio of 18.8 suggests it may be undervalued compared to peers [5] - Newmont offers a dividend yield of 1.88%, with a three-year annualized dividend growth exceeding 15%, although its dividend payout ratio is -37.5% due to recent losses, raising concerns about future profitability [6] Group 5: Market Sentiment and Analyst Ratings - Newmont currently holds a "Moderate Buy" rating among analysts, but some top-rated analysts have identified other stocks as better investment opportunities [8]

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Freeport-McMoRan (FCX) closed the most recent trading day at $41.40, moving -0.5% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.3% for the day. Elsewhere, the Dow lost 0.54%, while the tech-heavy Nasdaq added 0.25%.Prior to today's trading, shares of the mining company had gained 5.29% over the past month. This has outpaced the Basic Materials sector's loss of 0.14% and the S&P 500's gain of 3.42% in that time.Analysts and investors alike will be keepin ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Let's take a look at what these Wall Street heavyweights have to say about Freeport-McMoRan (FCX) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Freeport-McMoRan currently has an average brokerage reco ...

Shares of copper miner Freeport-McMoRan Inc (NYSE:FCX) are 0.3% lower at $45.04 at last look, starting what could be a month-long trend as FCX trades near a historically bearish moving averageAccording to data from Schaeffer's Senior Quantitative Analyst Rocky White, FreePort-McMoRan stock just came within one standard deviation of its 50-day trendline. Per White, five similar pullbacks have occurred over the past three years. One month after 40% of these signals, FCX had negative returns, averaging a 3.9% ...