Freeport-McMoRan (FCX), a major player in the mining industry, experienced mixed results with its Q4 earnings. Even though FCX surpassed Q4 expectations, an unfortunate miss on 2025 copper guidance and full-year 2024 earnings estimates has led to a decline in stock prices, with shares slipping and analysts reacting variably. Copper sales saw a decrease, sparking both concerns and optimistic viewpoints regarding the company's potential in the long term. The company failed to meet Q4 revenue estimates, which has further resulted in a larger drop of the company's shares. Despite these setbacks, certain hedge funds and billionaire Howard Marks maintain that FCX is among the best commodity stocks to invest in. Short-term headwinds and disappointing earnings have led to Scotiabank and BMO Capital lowering FCX's price target. The lowered estimates are paired with insider selling of stocks, indicating potential weakness. However, despite short-term risks, FCX's long-term potential remains, and it continues to seek M&A opportunities. Other notable events include unusually large options trading observed for the corporation, and an investor interest spike.
Freeport-Mcmoran FCX News Analytics from Wed, 16 Oct 2024 07:00:00 GMT to Sat, 25 Jan 2025 22:05:56 GMT -
