Streetbeat News

FCX

Freeport-McMoRan Inc.

Industry

Copper

Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile. The company also operates a portfolio of oil and gas properties primarily located in offshore California and the Gulf of Mexico. As of December 31, 2021, it operated approximately 135 wells. The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014. Freeport-McMoRan Inc. was incorporated in 1987 and is headquartered in Phoenix, Arizona.

Open

38.09

Mkt cap

56B

Volume

15M

High

38.94

P/E Ratio

29.88

52-wk high

55.24

Low

38.01

Div yield

0.02

52-wk low

33.98

Freeport-McMoRan (NYSE:FCX) has significantly outperformed the market over the past 5 years, delivering an average annual return of 31.58%. A $1000 investment in FCX 5 years ago would be worth approximately $4000 today. The company's current market capitalization is $66.01 billion.

Portfolio Pulse from Benzinga Insights

July 19, 2024 | 2:30 pm

Significant options activity has been detected for Freeport-McMoRan (NYSE: FCX), with a notable bearish sentiment among big-money traders. The stock is currently down by 5.24% and is approaching oversold territory. Analysts have a mixed outlook, with a recent upgrade from Morgan Stanley to 'Overweight' and a price target of $62.

Portfolio Pulse from Benzinga Insights

July 18, 2024 | 5:47 pm

Shares of copper companies are trading lower due to uncertainty over China's supply and demand and a drop in the price of copper.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 3:43 pm

Deep-pocketed investors have shown a bearish trend towards Freeport-McMoRan (NYSE:FCX) based on recent options activity. Benzinga's options scanner highlighted 15 significant options activities, with 53% of the sentiment being bearish. The price range targeted by these options is between $42.0 and $53.0. The current stock price is $50.42, down 1.39%, with an RSI indicating it may be overbought. An analyst from Morgan Stanley has upgraded the stock to Overweight with a price target of $62.0.

Portfolio Pulse from Benzinga Insights

July 15, 2024 | 8:46 pm

Shares of copper companies are trading higher due to an increase in copper prices, optimism for a stimulus in China, and potential rate cuts in the United States.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 2:04 pm

Freeport's Indonesian subsidiary, PT Freeport Indonesia, has completed the construction of the Manyar smelter and begun commissioning. However, Q2 sales are expected to be 5% below copper guidance and 30% below gold guidance due to an export license delay. 2024 gold sales are expected to be around 1.8 million ounces. The Q2 earnings release and conference call are scheduled for July 23, 2024.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:29 pm

U.S. equity futures rose slightly after the Fed's preferred inflation gauge, the PCE, fell to a 3-year low of 2.6% in May. This increased market expectations for a September rate cut. Top-performing stocks included Southern Copper, Intuit, and Toronto-Dominion Bank. ETFs like Global X Copper Miners and iShares Russell 2000 also saw gains.

Portfolio Pulse from Piero Cingari

June 28, 2024 | 1:39 pm

Recent unusual options activity in Freeport-McMoRan (NYSE:FCX) indicates a bullish sentiment among deep-pocketed investors. Benzinga's options scanner highlighted 12 extraordinary options activities, with 58% leaning bullish. The stock is currently trading at $49.43, down by 0.9%. Analysts have set a consensus target price of $61.0.

Portfolio Pulse from Benzinga Insights

June 26, 2024 | 3:47 pm

Morgan Stanley analyst Carlos De Alba has upgraded Freeport-McMoRan Inc (NYSE:FCX), Alcoa Corp (NYSE:AA), and Compañía de Minas Buenaventura SAA (NYSE:BVN) to Overweight due to persistent copper supply challenges and positive developments within these companies. The upgrades are based on expected higher prices for copper, gold, and alumina, as well as operational improvements and strategic investments.

Portfolio Pulse from Surbhi Jain

June 21, 2024 | 6:10 pm

Top Wall Street analysts have upgraded their ratings for several companies, including Nike, Alcoa, Outset Medical, Freeport-McMoRan, and Prestige Consumer Healthcare. These upgrades come with increased price targets, indicating a bullish outlook for these stocks.

Portfolio Pulse from Avi Kapoor

June 21, 2024 | 4:28 pm

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