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-7.42500742500067E-05 -0.00185625185625186 0.00326700326700325 0.000148500148500224 -7.42500742500067E-05 0.0057915057915058 0.0065340065340065 0.00534600534600534
Stock impact report

Jefferies sees more upside ahead for metals and mining stocks [Yahoo! Finance]

Freeport-McMoRan, Inc. (FCX) 
Last freeport-mcmoran, inc. earnings: 4/24 07:30 am Check Earnings Report
Company Research Source: Yahoo! Finance
following the outbreak of war in Iran, Jefferies analyst Christopher LaFemina said in a note on Monday. Jefferies stated that its long-held view is that the sector's six-month rally reflects “elevated geopolitical risks, a structurally weakening dollar and the risk of inflation.” The firm added that the weekend's developments, while “clearly very unfortunate, are fundamentally positive for the sector.” LaFemina explained that a closure of the Strait of Hormuz would hit key supply chains, noting that around “9% of global aluminium production is from Gulf states” dependent on the route, while Iran itself accounts for roughly “3% of global iron ore production.” Jefferies warned that the conflict also raises indirect risks through “rising and steepening cost curves due to higher energy prices,” supply-chain pressures and potential stockpiling of critical minerals such as copper. Inflation dynamics add to the bullish backdrop. Jefferies noted that commodities “tend to provide an Show less Read more
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