Freeport-McMoRan: Upside Mostly Baked In, Downgrade To Hold

mstahlphoto/E+ via Getty ImagesThe Copper Investment Thesis Remains Promising Ahead We previously discussed Freeport-McMoRan (NYSE:NYSE:FCX) in March 2024, discussing why we had rated the stock as a Buy attributed to the long-term electrification trend, with the miner likely to report higher top/ bottom lines as the copper spot prices rose. Combined with the projected climb in the copper spot prices over the next few years, we believed that the miner might deliver both capital appreciation and higher va ...