Freeport-McMoRan: Copper Bears Got Hammered Hard Recently [Seeking Alpha]
Freeport-McMoRan, Inc. (FCX)
Last freeport-mcmoran, inc. earnings: 4/24 07:30 am
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investors.fcx.com/investors/presentations/default.aspx
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Source: Seeking Alpha
sykonoThesisFreeport-McMoRan Inc. (NYSE:FCXprevious articleSPXSP500) 9.4% uptick. Relative to FCX's 5Y and 10Y total return of 24.7% and 2.2%, buyers who picked the recent lows bravely have been well rewarded as the market thrashed the bears.As such, we believe it's opportune to assess whether it's appropriate for buyers to pause at the current levels, as we postulate a pullback looks increasingly likely.Despite that, FCX's long-term growth story remains healthy, and the forward curve of longer-dated copper futures (HG1:COMGiven Dr. Copper's massive collapse from its March highs, we believe the market had already priced in significant risks in FCX's valuation. We also gleaned that Wall Street analysts have turned so downbeat in the copper industry that net earnings revisions through November have likely reached highly pessimistic levels.Moreover, analysts have also marked down Freeport-McMoRan's earnings estimates significantly after its underwhelming Q3 report in October. Despite tha
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FCX
News
- Freeport-McMoRan Inc. (NYSE: FCX) had its price target raised by analysts at Raymond James from $49.50 to $54.00. They now have an "outperform" rating on the stock.MarketBeat
- Freeport-McMoRan Inc. (NYSE: FCX) had its price target lowered by analysts at Scotiabank from $55.00 to $53.00. They now have a "sector outperform" rating on the stock.MarketBeat
- Freeport-McMoRan Inc. (NYSE: FCX) had its price target lowered by analysts at JPMorgan Chase & Co. from $52.00 to $51.00. They now have a "neutral" rating on the stock.MarketBeat
- Freeport-McMoRan Inc. (NYSE:FCX) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Compared to Estimates, Freeport-McMoRan (FCX) Q1 Earnings: A Look at Key Metrics [Yahoo! Finance]Yahoo! Finance
FCX
Earnings
- 4/24/24 - Beat
FCX
Sec Filings
- 4/23/24 - Form 8-K
- 4/16/24 - Form PRE
- 4/2/24 - Form 4
- FCX's page on the SEC website