Freeport-McMoRan (FCX) came out with quarterly earnings of $0.46 per share, beating the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $0.35 per share a year ago.
Freeport-McMoRan expects disappointing Q2 results due to copper export disruptions in Indonesia. Despite short-term challenges, the copper miner plans to increase copper production by up to 50% by 2030, with the potential for significant cash flows if copper prices rise. The stock is a buy due to the massive copper reserves and potential for higher copper prices from the current demand growth cycle outstripping supply.
While Freeport (FCX) is expected to have gained from higher copper prices in Q2, increased costs and lower sales volumes are likely to have affected its results.
Freeport-McMoRan (FCX) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Freeport-McMoRan (FCX) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
With the third quarter currently underway, traders may be looking to protect their gains after a strong first half of 2024.
Freeport (FCX) anticipates that the smelter will begin producing copper cathodes in the following months and that it will reach full ramp-up by the end of 2024.
Freeport-McMoRan (FCX) closed at $48.60 in the latest trading session, marking a +0.58% move from the prior day.
Recently, Zacks.com users have been paying close attention to Freeport-McMoRan (FCX). This makes it worthwhile to examine what the stock has in store.
The latest trading day saw Freeport-McMoRan (FCX) settling at $50.38, representing a +1.65% change from its previous close.
The Zacks Earnings ESP is a great way to find potential earnings surprises. Why investors should take advantage now.
Freeport-McMoRan (FCX) closed the most recent trading day at $47.26, moving -1.77% from the previous trading session.