The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
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.
In the most recent trading session, Freeport-McMoRan (FCX) closed at $62.08, indicating a -3.38% shift from the previous trading day.
Dan Dreyfus, founder of Borneite Capital, made a striking case for copper on a recent appearance on the All-In Podcast.
FCX has gained 25% year to date on strong earnings backed by higher copper prices, but higher costs and weaker volumes cloud its near-term outlook.
FCX faces rising Q2 copper production costs from energy and volume pressures, even as sales volumes show modest sequential recovery.
The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage.
Freeport-McMoRan (FCX) reached $67.04 at the closing of the latest trading day, reflecting a +2.02% change compared to its last close.
When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?
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.
Freeport-McMoRan is rated Buy, supported by resilient U.S. operations, a robust expansion pipeline, and discounted valuation at 7.6x EV/EBITDA FWD. Despite a 9% copper and 7% gold production cut at Grasberg, U.S. mines sustain results, with unit net cash costs at $1.91/lb and strong operating margins. FCX's growth pipeline—Bagdad, El Abra, Lone Star, and innovative leach—offers low execution risk and profitability even at conservative copper prices.
Freeport and Southern Copper push ahead with major projects leveraging strong cash flows and favorable copper prices.