Freeport-McMoRan Inc. (NYSE:FCX ) Q3 2024 Earnings Conference Call October 22, 2024 10:00 AM ET Company Participants David Joint - Vice President, Investor Relations Richard Adkerson - Chairman Kathleen Quirk - President and CEO Maree Robertson - EVP and CFO Josh Olmsted - President and Chief Operating Officer Conference Call Participants Chris LaFemina - Jefferies Liam Fitzpatrick - Deutsche Bank Bob Brackett - Bernstein Research Michael Dudas - Vertical Research Partners Orest Wowkodaw - Scotiabank Daniel Major - UBS Lawson Winder - Bank of America Securities Bennett Moore - JP Morgan Operator Ladies and gentlemen, thank you for standing by. Welcome to the Freeport-McMoRan Third Quarter Conference Call.
Higher copper and gold prices drive FCX's top line in the third quarter despite lower copper sales volumes.
Freeport-McMoRan (FCX) came out with quarterly earnings of $0.38 per share, missing the Zacks Consensus Estimate of $0.40 per share. This compares to earnings of $0.39 per share a year ago.
FCX is expected to have gained from higher copper prices and improved sales volumes in the third quarter.
The outlook for the price of copper is excellent, and this stock is ideally positioned to benefit.
Freeport-McMoRan is a copper miner, putting it in a position to benefit from the ongoing shift toward electrification.
The copper market is caught between a stimulus-fueled surge and the looming specter of Trump 2.0 tariffs.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Freeport-McMoRan has a bright future.
Freeport-McMoRan (FCX) closed the most recent trading day at $50.03, moving +0.99% from the previous trading session.
The latest trading day saw Freeport-McMoRan (FCX) settling at $49.54, representing a +1.37% change from its previous close.
Materials and Utilities take the focus of today's Big 3. Alan Knuckman breaks down the technical trends of Freeport-McMoRan (FCX), Exelon (EXC), and Vale SA (VALE) with Rick Ducat and Nicole Petallides.