This Is Not A Time For Gold To Shine [Forbes]
Freeport-McMoRan, Inc. (FCX)
Last freeport-mcmoran, inc. earnings: 4/24 07:30 am
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Source: Forbes
Gold is easier to access than ever before and a lot of investors have been pleased with its performance over the past few years. Some investors may be currently considering the investment as they expect gold's recent performance to continue. After acknowledging that the geopolitical uncertainty and inflation we have seen in the past few years have been uniquely suited to gold, we're of the opinion that it's not a great long-term investment. If you're an investor who's made money on gold in the past year or so, we think you should take those gains while you can and recycle them into your broader portfolio. Gold's utility as a diversifier and inflationary hedge is high, but in a normalized economic environment it's a lot less convincing. It's a purely speculative holding without a lot of economic value. Prices are down to simple supply and demand dynamics, and there's not a single nation that uses the gold standard for their monetary system. Today's PCE reading reinforces our view.
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News
- Freeport-McMoRan (FCX) Ascends While Market Falls: Some Facts to Note [Yahoo! Finance]Yahoo! Finance
- Freeport Indonesia opens $3.7bn copper smelter in Gresik [Yahoo! Finance]Yahoo! Finance
- Freeport-McMoRan Inc.'s (NYSE:FCX) large institutional owners must be happy as stock continues to impress, up 3.7% over the past week [Yahoo! Finance]Yahoo! Finance
- Freeport-McMoRan Declares Quarterly Cash Dividends on Common StockBusiness Wire
- Freeport-McMoRan Inc. (NYSE: FCX) was upgraded by analysts at BNP Paribas to a "strong-buy" rating.MarketBeat
FCX
Earnings
- 4/24/24 - Beat
FCX
Sec Filings
- 6/13/24 - Form 4
- 6/12/24 - Form 8-K
- 6/4/24 - Form 4
- FCX's page on the SEC website