Over the past week, Freeport-McMoRan (NYSE:FCX) showed a substantial growth of 5.2% which has, over the past five years, culminated in a 644% gain. Major financial institutions such as Connor Clark & Lunn Investment Management Ltd, PGGM Investments, Skandinaviska Enskilda Banken AB publ, AlphaQuest LLC, Assetmark Inc, Ashton Thomas Private Wealth LLC, Diamond Hill Capital Management Inc, and others have increased their shareholdings in FCX. Furthermore, the company has been upgraded to a 'Strong-Buy' by DBS Bank and to a 'Buy' rating by Deutsche Bank Aktiengesellschaft. The sentiment among the investment community seems optimistic, with CEO of FCX requesting to designate copper as a critical mineral, positioning for prospective benefits from tariffs. This optimism is reflected in majority institutional ownership, at around 86% of the shares. Despite suffering larger drops than the general market, its stock price rose 3.7% recently. While the company's Q4 revenue was below estimates due to a decline in copper sales, the long-term upside remains intact. Yet, the stock remains overvalued according to some analysts. Time will tell whether FCX's stock can surge 20% as some predict. However, it should be noted that performance is subject to market fluctuations.
Freeport-Mcmoran FCX News Analytics from Tue, 15 Oct 2024 07:00:00 GMT to Sat, 15 Mar 2025 18:02:22 GMT - Rating 2 - Innovation 0 - Information 6 - Rumor -4
