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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

43.50

Mkt cap

60B

Volume

11M

High

43.82

P/E Ratio

30.94

52-wk high

55.24

Low

42.06

Div yield

0.02

52-wk low

35.47

On Tuesday, small-cap stocks outperformed large caps as investors awaited key earnings reports from Alphabet and Tesla. The Russell 2000 index rose 0.8%, while the Nasdaq 100 dipped 0.2%. United Parcel Service (UPS) plunged 14% after missing earnings and revenue estimates. Bitcoin dropped over 2% to $65,800.

Portfolio Pulse from Piero Cingari

July 23, 2024 | 5:53 pm

Freeport-McMoRan (NYSE:FCX) reported strong Q2 FY24 earnings, beating revenue and EPS estimates despite shipping delays in Indonesia. Copper and gold sales were down year-over-year, but the company remains optimistic about future production and pricing. Investors can also gain exposure through Sprott Copper Miners ETF (NASDAQ:COPP) and Exchange Traded Concepts Trust Optica Rare Earths & Critical Materials ETF (NYSE:CRIT).

Portfolio Pulse from Lekha Gupta

July 23, 2024 | 4:24 pm

Freeport-McMoRan shares are trading lower following the company's Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 2:52 pm

Freeport-McMoRan (NYSE:FCX) reported Q2 2024 adjusted EPS of $0.42, beating the estimate of $0.38. Sales were $6.62 billion, surpassing the $5.99 billion estimate and showing a 15.46% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 12:05 pm

US stock futures are relatively unchanged as traders await Q2 earnings reports from Alphabet and Tesla. The market is cautious due to uncertainties in geopolitics, monetary policy, and upcoming economic data. Notable premarket movements include Agilysys, NXP Semiconductors, and Medpace Holdings, which saw declines following earnings reports. Coca-Cola, General Motors, and Spotify are among the companies reporting earnings today.

Portfolio Pulse from Shanthi Rexaline

July 23, 2024 | 11:36 am

Tesla, Alphabet, GM, and Ford are among the key companies reporting earnings this week, which could influence the market's direction. Tesla is expected to report a significant decline in EPS due to price cuts, while Alphabet's earnings will be closely watched as it is the first AI-levered mega-cap to report. The market has seen a pullback, with major indices like QQQ and SPY retreating from record highs.

Portfolio Pulse from Shanthi Rexaline

July 21, 2024 | 9:18 pm

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

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