freeportmcmoran
Key Points Analysts are optimistic about Freeport-McMoRan, the largest publicly traded copper miner. Morgan Stanley raised its price target to $38.50.Copper plays a crucial role in decarbonization, but it’s often overshadowed by attention to lithium.Mining investor Robert Friedland expects copper prices to rise due to growing demand and lower-than-needed investments in copper mining projects.Short-term expectations for Freeport-McMoRan’s earnings indicate a decline, but a rebound is projected in 2024.5 stocks we like better than Freeport-McMoRanWhen you think of the metal most crucial to the r...
ValueWalk
Freeport McMoran rallied despite weaker results.Net income fell to $404 million, down by 50% over the same quarter last year.The average realized price per pound o copper came in at $3.50 per pound, compared to $4.20 last year.Freeport McMoran (NYSE:FCX) third-quarter results came in weaker on the back of copper prices retreating. Copper prices had run up significantly in the previous year, and since then have declined by almost 30%. Copper is usually seen as a leading indicator, due to its inherent involvement with the global economy, and while recessionary sentiment has been largely confined...
ValueWalk
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