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.
While the equity markets are in correction mode, it's easy to lose sight of the fact that the price of copper is almost touching an all-time high at around $5.10 per pound. One of the best ways to make money from it is by investing in copper and gold miner Freeport-McMoRan (FCX 4.76%).
With a long call butterfly spread play in Freeport-McMoRan stock, if the stock moves up dramatically, we capture a very tidy profit. The post Freeport-McMoRan Stock Today: This Long-Term Butterfly Spread Trade Could Net $1,253 appeared first on Investor's Business Daily.
On Thursday, J.P. Morgan analyst Bill Peterson upgraded Freeport-McMoRan, Inc. FCX to an Overweight rating from Neutral and raised the price forecast to $52 from $48.
Jim Cramer breaks down why he's keeping an eye on shares of Freeport-McMoran.
Freeport-McMoRan (FCX) closed the most recent trading day at $40.42, moving +1.46% from the previous trading session.
The latest trading day saw Freeport-McMoRan (FCX) settling at $39.51, representing a +1.7% change from its previous close.
Editor's Note: The headline has been updated for clarity.
Zacks.com users have recently been watching Freeport-McMoRan (FCX) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Freeport-McMoRan's stock is being hurt by investor rotation out of the U.S. market but should rally as copper prices surge.
Freeport-McMoRan (FCX) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.