In the most recent trading session, Freeport-McMoRan (FCX) closed at $33.75, indicating a +1.2% shift from the previous trading day.
Freeport-McMoRan Inc. is poised to benefit from the ongoing gold and copper supercycles, driven by rising commodity prices and strong demand. Gold prices have surged from $2,700 to $3,200 per oz, with further growth expected, boosting Freeport-McMoRan's profitability. Copper demand is set to rise due to electrification, 5G, and AI trends, while supply constraints will drive prices higher.
Freeport-McMoRan (FCX) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.
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While FCX is poised to gain from progress in expansion activities and solid financial health, high production costs and falling copper prices warrant caution.
Richard Adkerson, Freeport McMoran chairman and former CEO, joins 'Money Movers' to discuss how recent news plays through to Freeport McMoran's business, what tariffs could do to copper, and much more.
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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.
FCX expects its consolidated average realized copper price for the first quarter of 2025 to be around $4.40 per pound.
In the most recent trading session, Freeport-McMoRan (FCX) closed at $37.86, indicating a -1.46% shift from the previous trading day.
Copper futures surged to new highs in March, but FCX stock has remained in its doldrums. FCX believes it can navigate the impending copper tariffs, but what about possible disruptions to the US economy? Analysts have already downgraded FCX's estimates, and its valuations have likely contemplated significant downside possibilities.
Copper miner Freeport-McMoRan's (FCX -4.10%) stock is down 37% from its all-time high, yet the price of copper is almost at an all-time high. While the company's news hasn't been entirely positive over the last year, the share price performance and valuation disparity suggest that the stock looks great and is worth picking up in the general market downturn.