Freeport-McMoRan Scores A Solid Q3, Analysts Say: 'Benefit From High Copper And Gold Prices'
Portfolio Pulse from Stjepan Kalinic
Freeport-McMoRan (NYSE:FCX) reported Q3 earnings with slightly lower EPS but exceeded revenue expectations. Analysts have mixed reactions, with Raymond James raising its price target, while RBC and Scotiabank maintain their ratings. The company benefits from high copper and gold prices but faces risks from a smelter fire in Indonesia.
October 23, 2024 | 8:33 pm
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NEUTRAL IMPACT
Scotiabank maintained a Sector Perform rating on Freeport-McMoRan, recognizing stronger-than-expected performance but highlighting a balanced risk-reward profile. The bank slightly reduced its 12-month price target.
Scotiabank's reaction to Freeport-McMoRan's earnings was neutral, maintaining a Sector Perform rating. The bank's slight reduction in the price target reflects a balanced view of risks and rewards. The impact on Scotiabank is minimal as the focus is on FCX.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 30
NEUTRAL IMPACT
Freeport-McMoRan's Q3 earnings report showed slightly lower EPS but exceeded revenue expectations. Analysts have mixed reactions, with some raising price targets. The company benefits from high copper and gold prices but faces risks from a smelter fire in Indonesia.
Freeport-McMoRan's earnings report was mixed, with revenue exceeding expectations but EPS slightly below. Analysts have varied opinions, with some raising price targets. The company's strong leverage to copper and gold prices is a positive, but the smelter fire in Indonesia poses a risk. Overall, the short-term impact is neutral as positive and negative factors balance each other.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100