Freeport-McMoRan's Electrification Story Boosted By Mine Closure & Future's Rally

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 ...