23-Apr-2024
Copper’s Rally Stalls: Buyers Resist Further Price Increases
TipRanks (Wed, 24-Apr 1:24 AM ET)
Benzinga (Tue, 23-Apr 6:03 PM ET)
Nasdaq, S&P, Dow advance as investors await more earnings
Seeking Alpha News (Tue, 23-Apr 9:30 AM ET)
Freeport-McMoRan in charts: Copper production up, prices down, but Gold shines in Q1
Seeking Alpha News (Tue, 23-Apr 8:43 AM ET)
Freeport-McMoRan Q1 2024 Earnings Webcast and Insights
TipRanks (Tue, 23-Apr 8:22 AM ET)
Freeport-McMoRan Non-GAAP EPS of $0.32 beats by $0.04, revenue of $6.32B beats by $620M
Seeking Alpha News (Tue, 23-Apr 8:01 AM ET)
Freeport-McMoRan First-Quarter 2024 Financial and Operating Results Release Available on Its Website
Business Wire (Tue, 23-Apr 8:00 AM ET)
Nasdaq, S&P, Dow futures show little change as investors await more earnings
Seeking Alpha News (Tue, 23-Apr 6:21 AM ET)
Freeport, Teck Resources Q1 results seen weighed by lower prices, high costs
Seeking Alpha News (Mon, 22-Apr 11:23 AM ET)
Freeport-McMoRan Q1 Preview: Indonesia copper export ban, supply issues in focus
Seeking Alpha News (Mon, 22-Apr 11:20 AM ET)
Freeport-McMoRan Inc is an international mining company. It has organized its mining operations into four primary divisions: North America copper mines, South America mining, Indonesia mining and Molybdenum mines. Its reportable segments include the Morenci, Cerro Verde and Grasberg (Indonesia mining) copper mines, the Rod & Refining operations and Atlantic Copper Smelting and Refining. It derives key revenue from the sale of Copper.
Freeport-Mcmoran trades on the NYSE stock market under the symbol FCX.
As of April 23, 2024, FCX stock price declined to $47.99 with 18,421,641 million shares trading.
FCX has a beta of 1.28, meaning it tends to be more sensitive to market movements. FCX has a correlation of 0.22 to the broad based SPY ETF.
FCX has a market cap of $68.78 billion. This is considered a Large Cap stock.
Last quarter Freeport-Mcmoran reported $6 billion in Revenue and $.27 earnings per share. This beat revenue expectation by $45 million and exceeded earnings estimates by $.05.
In the last 3 years, FCX stock traded as high as $52.42 and as low as $24.80.
The top ETF exchange traded funds that FCX belongs to (by Net Assets): VTI, VOO, SPY, IVV, VTV.
FCX has underperformed the market in the last year with a price return of +23.1% while the SPY ETF gained +24.3%. However, in the short term, FCX had mixed performance relative to the market. It has outperformed in the last 3 months, returning +28.6% vs +4.9% return in SPY. But in the last 2 weeks, FCX shares have been beat by the market, returning -3.6% compared to an SPY return of -2.5%.
FCX support price is $47.73 and resistance is $50.17 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that FCX stock will trade within this expected range on the day.