Freeport-McMoRan Inc. ($FCX) Stock Forecast: Down 0.1% Today

What is Freeport-McMoRan Inc.?

Freeport-McMoRan (FCX) is a mining company recognized for its copper, gold, and molybdenum production on a global scale, highly dependent on commodity prices and market demand.

Why is Freeport-McMoRan Inc. going down?

FCX stock is down 0.1% on Oct 22, 2024 15:42

• Despite surpassing revenue expectations in Q3, exhibiting favorable trends with increased gold sales and stable copper production, FCX's earnings failed to meet estimates, resulting in a downturn in the stock.
• The upsurge in options activity, reflecting an optimistic view from investors, suggests a positive long-term outlook for FCX. However, the initial stock price decline following the earnings shortfall may denote a short-term setback.
• The unpredictability in the copper market, impacted by factors like China's economic stimuli and potential tariffs under consideration by the current administration, likely heightened volatility for FCX, contributing to today's bearish trend.
• While FCX's operational performance shows promise, external elements such as market speculations and earnings inconsistencies could have overshadowed positive advancements, influencing the observed bearish trajectory.

FCX Price Chart

FCX Technical Analysis

FCX News

Freeport-McMoRan ( FCX ) Lags Q3 Earnings Estimates

Freeport-McMoRan (FCX) delivered earnings and revenue surprises of -5% and 5.12%, respectively, for the quarter ended September 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2354736/freeport-mcmoran-fcx-lags-q3-earnings-estimates

Freeport-McMoRan Beats Q3 Estimates: Gold Sales Soar, Copper Production Stabilizes - Freeport-McMoRan ( NYSE:FCX )

Freeport-McMoRan Inc. FCX shares are trading higher after the company reported third-quarter FY24 results. Revenue stood at $6.79 billion, beating the consensus of $6.47 billion.

https://www.benzinga.com/news/earnings/24/10/41453243/freeport-mcmoran-beats-q3-estimates-gold-sales-soar-copper-production-stabilizes

Spotlight on Freeport-McMoRan: Analyzing the Surge in Options Activity - Freeport-McMoRan ( NYSE:FCX )

Investors with a lot of money to spend have taken a bullish stance on Freeport-McMoRan FCX. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know.

https://www.benzinga.com/insights/options/24/10/41410906/spotlight-on-freeport-mcmoran-analyzing-the-surge-in-options-activity

What's in Store for Freeport-McMoRan Stock This Earnings Season?

FCX is expected to have gained from higher copper prices and improved sales volumes in the third quarter.

https://www.zacks.com/stock/news/2353422/whats-in-store-for-freeport-mcmoran-stock-this-earnings-season

TECK Vs. FCX: China Stimulus Or Trump Tariffs? Analyst Bullish On Copper - Freeport-McMoRan ( NYSE:FCX ) , Teck Resources ( NYSE:TECK )

The copper market is caught between a stimulus-fueled surge and the looming specter of Trump 2.0 tariffs. According to JPMorgan's Bill Peterson, investors are riding high on China's stimulus optimism, but the road ahead may be rockier than expected.

https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41338395/teck-resources-vs-freeport-mcmoran-china-stimulus-boost-or-trump-tariff-blues-analy

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Freeport-McMoRan Inc. Price History

26.08.2024 - FCX Stock was up 7.3%

• FCX showed a strong bullish movement, experiencing a significant increase in share price.
• The favorable sentiment towards FCX may be linked to well-funded investors displaying a positive stance towards the company, as suggested by options trading data.
• The introduction of a new stimulus package by the China Central Bank has also played a role in the upsurge of FCX shares, in addition to other metal and mining stocks, due to the favorable impact on the sector.
• Despite the recent rise in FCX's share price, the latest trend in earnings estimate revisions does not guarantee sustained strength in the future, so caution is advised for investors regarding the stock's long-term performance.

24.08.2024 - FCX Stock was up 7.9%

• FCX stock surged by 1.83% in the most recent trading session, outperforming the broader market.
• The bullish movement can be attributed to China Central Bank's announcement of a new stimulus package, which positively impacted metal and mining stocks like FCX.
• Despite the overall positive trend, investors should remain cautious as there may be fluctuations in the near term, as indicated by the recent -1.35% change in FCX's stock price.
• The market's reaction to FCX's performance suggests that investors are closely monitoring external factors, such as stimulus packages and global economic conditions, to gauge the company's future prospects.

24.08.2024 - FCX Stock was up 6.3%

• FCX closed at $43.92 today, marking a +1.83% increase from the previous trading day.
• Market positivity and a potential rebound in commodity prices could have contributed to the stock's upward movement.
• Despite a general market decline, FCX demonstrated resilience by outperforming, hinting at investor confidence in its future prospects.
• Monitoring commodity price changes and global economic indicators is advisable, as they play a significant role in influencing FCX's stock performance.

19.08.2024 - FCX Stock was up 5.3%

• FCX experienced a strong bullish movement today, outperforming the overall stock market.
• The positive shift in FCX's stock price could be attributed to favorable market conditions for commodities, particularly copper, which is a significant part of FCX's business.
• Additionally, potential positive developments related to FCX's operational performance or strategic initiatives may have contributed to the bullish movement.
• Investors' optimism and confidence in FCX's future prospects could also have played a role in driving the stock price higher.

08.09.2024 - FCX Stock was down 5.1%

• Despite favorable market conditions, FCX demonstrated noticeable bearish trends.
• The divergence in FCX's performance compared to the overall market may stem from internal company dynamics or sector-specific updates.
• Concerns regarding FCX's production expenses, global demand for metals, or geopolitical events affecting the mining industry might be influencing investors' reactions.
• To navigate market fluctuations effectively, it is vital for investors to track FCX's progress and stay informed about developments in the mining sector.

18.08.2024 - FCX Stock was up 4.3%

• FCX closed at $41.81, showing a +1.23% increase, surpassing stock market gains and indicating strong bullish momentum.
• The positive shift may be due to favorable market conditions for mining companies, possibly fueled by growing demand for copper and gold.
• Investors seem optimistic about FCX's financial performance and growth potential, resulting in increased buying activity and pushing the stock price up.
• The bullish movement of FCX reflects investor confidence in the company's capacity to leverage the existing market situation and deliver robust outcomes.

22.09.2024 - FCX Stock was down 0.1%

• Despite surpassing revenue expectations in Q3, exhibiting favorable trends with increased gold sales and stable copper production, FCX's earnings failed to meet estimates, resulting in a downturn in the stock.
• The upsurge in options activity, reflecting an optimistic view from investors, suggests a positive long-term outlook for FCX. However, the initial stock price decline following the earnings shortfall may denote a short-term setback.
• The unpredictability in the copper market, impacted by factors like China's economic stimuli and potential tariffs under consideration by the current administration, likely heightened volatility for FCX, contributing to today's bearish trend.
• While FCX's operational performance shows promise, external elements such as market speculations and earnings inconsistencies could have overshadowed positive advancements, influencing the observed bearish trajectory.

03.06.2024 - FCX Stock was up 5.2%

• FCX closed at $48.60 today, showing a +0.58% increase from the previous day.
• The positive movement is linked to the initiation of operations at a new smelter in Indonesia, suggesting potential growth in copper production.
• Despite revising down its Q2 copper and gold sales forecast, the commencement of the new smelter and analysts upholding an Outperform rating likely enhanced investor trust in FCX.
• The general market outlook, exemplified by the strong performance of the S&P 500 and recent stock upgrades, further bolstered the support for higher-risk assets such as FCX, contributing to its upward trajectory.

18.06.2024 - FCX Stock was down 5.7%

• Recent bearish options activity on FCX suggests a negative sentiment among investors that could weigh on the stock price.
• Despite anticipated earnings growth, significant investors' bearish outlook implies concerns about the company's future performance.
• The minor decrease in FCX stock price by -0.16% appears to mirror the prevailing bearish sentiment in the market, influenced by today's bearish options trends.
• The downward movement in FCX today may be linked to investors' cautious approach possibly due to global economic uncertainties or industry-specific challenges affecting the mining sector.

18.06.2024 - FCX Stock was down 5.6%

• The bearish movement in FCX today can be attributed to the bearish options trends adopted by deep-pocketed investors.
• Despite the expected earnings growth, the market sentiment seems to have been swayed by the significant bearish approach towards FCX in the options market.
• The slight decrease in stock price (-0.16%) might have contributed to the overall bearish movement today.
• The long-term outperformance of FCX could indicate that today's bearish movement might be a short-term correction rather than a long-term trend.

18.06.2024 - FCX Stock was down 5.1%

• Deep-pocketed investors have taken a bearish stance on FCX, as indicated by the latest options trends.
• This bearish sentiment could be attributed to concerns about global economic growth impacting demand for industrial metals like copper, a significant part of FCX's business.
• The market movement might also reflect broader investor sentiment towards the mining sector or specific company-related factors affecting FCX's outlook.
• Traders should closely monitor further developments in the options market and global economic indicators to gauge FCX's future performance.

15.07.2024 - FCX Stock was up 5.1%

• The positive movement in FCX today may be due to strong bullish activity by significant investors in the options market, reflecting optimistic sentiment and belief in the stock's future performance.
• The historical outperformance of FCX, with significant returns from investments made five years ago, might have also fueled the current bullish trend.
• Despite some bearish signals from options trading, the overall market sentiment remains predominantly bullish, potentially influenced by positive earnings forecasts or broader economic factors impacting the mining sector.