Why Shares in This Hot Copper Mining Stock Soared This Week [Yahoo! Finance]
Freeport-McMoRan, Inc. (FCX)
Last freeport-mcmoran, inc. earnings: 4/24 07:30 am
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Source: Yahoo! Finance
The move comes after China's central bank took some widely anticipated measures to stimulate growth in the Chinese economy. In turn, that encouraged investors to buy copper -- China is seen as the swing factor in demand for copper -- and the price of copper rallied from around $4.27 per pound at the start of the week to $4.58 per pound at the time of this writing. How Freeport McMoRan benefits To get a flavor of how movements in the price of copper impact Freeport, management states that its earnings before interest, taxation, depreciation, and amortization ( EBITDA ) in 2025/2026 will change by $430 million with every $0.10 per pound movement in the price of copper. That's a significant change, as Wall Street analysts are forecasting an EBITDA of $10.6 billion for the company in 2024. Why copper prices and Freeport McMoRan stock can move higher The move highlights one of the traditional critical drivers of the price of copper: demand from the metal's broad-based exposure to c
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News
- Freeport-McMoRan (FCX) Sees a More Significant Dip Than Broader Market: Some Facts to Know [Yahoo! Finance]Yahoo! Finance
- Top 4 Materials Stocks That May Implode In Q3 [Yahoo! Finance]Yahoo! Finance
- Here's Why This Mining Giant's Stock Surged This Week [Yahoo! Finance]Yahoo! Finance
- Copper rallies above $10,000 on China stimulus, U.S. economic strength [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Freeport-McMoRan Inc. (NYSE: FCX) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
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- 7/24/24 - Beat
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- 9/26/24 - Form SD
- 8/28/24 - Form 4
- 8/8/24 - Form S-3ASR
- FCX's page on the SEC website