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Stock impact report

Gold At Record High: Why Isn't FCX Stock Following Suite? [Forbes]

Freeport-McMoRan, Inc. (FCX) 
Last freeport-mcmoran, inc. earnings: 4/24 07:30 am Check Earnings Report
Company Research Source: Forbes
Cooperation (APEC) Leaders' Week in San Francisco, California, on November 15, 2023. The APEC Summit takes place through November 17. (Photo by ANDREW CABALLERO-REYNOLDS / AFP) (Photo by ANDREW CABALLERO-REYNOLDS/AFP via Getty Images) AFP via Getty Images Freeport-McMoRan (NYSE: FCX), one of the largest producers of copper, has seen its stock underperform over the last month, falling by 8% compared to the S&P 500 which was up 1%. Does this come as a surprise at a time when gold realizations have gone up 35% year-to-year to $2,568 per ounce in Q3 of 2024, and copper realizations are also up 13% to $4.30 per ounce? Not really. We believe Freeport valuation to be around $47 per share, which is almost in line with the current market price. All the positivity surrounding copper and gold seem to already be priced in. Freeport, being one of the world's largest copper producers and with its future growth pipeline, is expected to benefit from the future outlook of copper. While global Show less Read more
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