Freeport-McMoRan Stock (NYSE:FCX), Trade Ideas

Freeport-McMoRan

Freeport-McMoRan Inc is an international mining company. It has organized its mining operations into four primary divisions: North America copper mines, South America mining, Indonesia mining and Molybdenum mines. Its reportable segments include the Morenci, Cerro Verde and Grasberg (Indonesia mining) copper mines, the Rod & Refining operations and Atlantic Copper Smelting and Refining. It derives key revenue from the sale of Copper.

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Multinational miner BHP&#39;s bid for Anglo American may not be enough as other miners are likely to make rival bids for copper assets. Global demand for copper is expected to increase for clean energy.

Copper Is A Hot Commodity: Bidding War for Anglo American May Emerge After BHP&#39;s &#39;Low Ball&#39; Offer — &#39;Let The Games Begin&#39;

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Cleveland-Cliffs And Freeport-McMoRan Report Q1 Results; Worthington Steel Gets GM Supplier Of The Year And More: Tuesday&#39;s Top Mining Stories

Cleveland-Cliffs, Freeport-McMoRan Report Q1 Results; Worthington Steel Gets GM Supplier Of The Year And More: Tuesday&#39;s Top Mining Stories

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Freeport-McMoRan reports Q1 FY24 results, beats expectations in revenue and adjusted EPS. Copper and gold sales increase.

What&#39;s Going On With Freeport-McMoRan Shares Today?

Freeport-McMoRan Inc

First Capital REIT

Australian multinational miner&nbsp;<a href="https://www.benzinga.com/quote/BHP">BHP Group</a>'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) nearly $40 billion bid for rival Anglo American (OTC:&nbsp;NGLOY) may not be enough to acquire the company as other diversified miners will probably make rival bids amid the global scramble for copper assets.
After completing a $6.4 billion takeover of Australian copper producer&nbsp;OZ Minerals&nbsp;last year, BHP is doubling down on the red metal amid widespread expectations that demand will greatly increase in coming years as the global economy transitions from fossil fuels. 
Solar and wind farms and electric vehicles require more copper than traditional utilities and internal combustion engine automobiles.
"This is the latest move to consolidate in industrial metals driven by a scramble for copper and other metals central to the world&#8217;s clean energy movement,"&nbsp;Sean Casterline, founder of the investment consulting firm&nbsp;Delta Capital Management, told Benzinga.
BHP, already the world's biggest mining company, is currently the third-largest copper producer behind Chile's state-run&nbsp;Codelco&nbsp;and U.S.-based heavyweight&nbsp;Freeport-McMoRan Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>). A combination with Anglo American would push BHP to the pole position.&nbsp;&nbsp;
"In our view, the copper assets are the primary driver of a proposed transaction,"&nbsp;RBC Capital Markets analysts said.&nbsp;
<h1 class="wp-block-heading">Rival Bids Seem Likely</h1>
BHP said it offered 25.08 pounds ($32.27) a share for London-based Anglo American, which said it is reviewing the proposal. The all-share deal values Anglo American at GBP 31.1 billion ($38.9 billion) and is contingent on the U.K. company spinning off its shareholdings in Anglo American Platinum Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ANGPY#OTC">ANGPY</a>) and Kumba Iron Ore Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/KIROY#OTC">KIROY</a>), which are both listed in South Africa.
The proposal represents a nearly 14% premium for Anglo American's London-listed shares and a 31% premium without the platinum and iron ore units.
Analysts said that probably isn't enough.
Also Read: <a href="https://www.benzinga.com/markets/asia/24/04/38090219/will-copper-reach-10-000-an-essential-metal-that-faces-an-uncertain-future">Will Copper Reach $10,000? &#8216;An Essential Metal That Faces An Uncertain Future&#8217;</a>
Anglo American's shares have been so beaten down recently that its board and shareholders probably see BHP's bid as undervaluing the company, including copper assets in Chile and Peru, where BHP also has copper operations. Anglo American's shares have been suffering because of operational problems, a disappointing production outlook and a slump in diamond and platinum-group markets.
BHP's offer is "a timid and somewhat convoluted bid" that "won't be enough to draw either Anglo's board or its key shareholders," Liberum analyst Ben Davis said. After BHP's offer, he raised Anglo's price target to 27.50 pounds ($34.41), a near 25% bump from the stock&#8217;s closing price before the offer was officially made public.
Jefferies analysts went higher, saying a price of at least 28 pounds ($35.04) per share would be required for serious discussions between the companies, and a takeout price north of 30 pounds ($37.54) per share would be the outcome of a bidding war.
"If BHP does indeed continue to pursue this deal, we would be surprised if other bidders do not emerge," the company said. "Let the games begin."
The RBC Capital Markets analysts pegged diversified miner Glencore (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GLNCY#OTC">GLNCY</a>) as one logical bidder because of the potential advantages in combining the companies' copper assets. The company also listed Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) as a possibility because of the attractiveness of combining iron ore assets in Brazil. 
Davis pointed to diversified multinational miner&nbsp;Rio Tinto&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) as his top pick for an interloper, although he noted the company has a reputation for preferring to build mines rather than buy them.
<h1 class="wp-block-heading">Gold Miners Expand Copper Holdings</h1>
One reason why copper acquisitions are attractive is that building new copper mines from scratch is expensive and time-consuming.
That's especially true in the U.S., where getting a permit is difficult, or in other jurisdictions such as Panama, where a court ruling recently forced the closure of a huge copper mine after local protests, said&nbsp;Jason Crawshaw, portfolio manager at&nbsp;Polaris Capital, which invests in copper miners&nbsp;Lundin Mining Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LUNMF#OTC">LUNMF</a>) and Antofagasta (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ANFGF#OTC">ANFGF</a>).
"There is a scramble for assets," he told Benzinga. "Everybody is always looking to get more exposure to copper."
Even gold miners have been interested in bulking up on copper assets.&nbsp;
Last year, U.S.-based gold mining major&nbsp;Newmont Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) bought Australian gold miner Newcrest Mining Ltd. for nearly $17 billion, adding nearly 50 billion pounds of copper reserves and resources in one fell swoop.
Meanwhile, Canada-headquartered rival&nbsp;Barrick Gold Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) is spending nearly $2 billion to expand a copper mine in Zambia, targeting expanded plant production in 2028.&nbsp;
Investors looking for diverse exposure to copper producers can consider the&nbsp;Global X Copper Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>),&nbsp;Sprott Copper Miners ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COPP#NASDAQ">COPP</a>),&nbsp;Sprott Junior Copper Miners ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COPJ#NASDAQ">COPJ</a>)&nbsp;and&nbsp;iShares Copper and Metals Mining ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICOP#NASDAQ">ICOP</a>).
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37924793/rising-copper-prices-portfolio-review-make-underperforming-anglo-american-stock-a-p">Rising Copper Prices, Portfolio Review Make Underperforming Anglo American Stock A Potential Bargain: Report (CORRECTED)</a>
Photo: Anglo American copper mine in Chile courtesy of Anglo American Flickr

Copper Is A Hot Commodity: Bidding War for Anglo American May Emerge After BHP's 'Low Ball' Offer — 'Let The Games Begin'

WIIM

Freeport-McMoRan shares are trading higher after Argus Research maintained a Buy rating on the stock and raised its price target from $44 to $54.

Argus Research analyst David Coleman maintains Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) with a Buy and raises the price target from $44 to $54.

Price Target

Argus Research Maintains Buy on Freeport-McMoRan, Raises Price Target to $54

Scotiabank analyst Orest Wowkodaw maintains Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) with a Sector Outperform and lowers the price target from $55 to $53.

Scotiabank Maintains Sector Outperform on Freeport-McMoRan, Lowers Price Target to $53

Raymond James analyst Brian MacArthur maintains Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) with a Outperform and raises the price target from $49.5 to $54.

Raymond James Maintains Outperform on Freeport-McMoRan, Raises Price Target to $54

JP Morgan analyst Bill Peterson maintains Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) with a Neutral and lowers the price target from $52 to $51.

JP Morgan Maintains Neutral on Freeport-McMoRan, Lowers Price Target to $51

Investors with a lot of money to spend have taken a bearish stance on Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>).
And retail traders should know.
We noticed this today when the positions 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. But when something this big happens with FCX, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Freeport-McMoRan.
This isn't normal.
The overall sentiment of these big-money traders is split between 27% bullish and 45%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $31,025, and 10, calls, for a total amount of $572,697.
<h3>Expected Price Movements</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $37.0 and $49.0 for Freeport-McMoRan, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of Freeport-McMoRan stands at 1877.6, with a total volume reaching 6,251.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Freeport-McMoRan, situated within the strike price corridor from $37.0 to $49.0, throughout the last 30 days.
<h3>Freeport-McMoRan 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713967281_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$3.05</td>
<td>$2.93</td>
<td>$2.99</td>
<td>$48.00</td>
<td>$179.4K</td>
<td>4.8K</td>
<td>1.6K</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$3.2</td>
<td>$3.0</td>
<td>$3.0</td>
<td>$48.00</td>
<td>$60.0K</td>
<td>4.8K</td>
<td>301</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$6.6</td>
<td>$6.5</td>
<td>$6.6</td>
<td>$47.00</td>
<td>$59.2K</td>
<td>380</td>
<td>44</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$3.05</td>
<td>$2.95</td>
<td>$2.95</td>
<td>$48.00</td>
<td>$59.0K</td>
<td>4.8K</td>
<td>2.0K</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$2.97</td>
<td>$2.91</td>
<td>$2.95</td>
<td>$48.00</td>
<td>$59.0K</td>
<td>4.8K</td>
<td>1.8K</td>
</tr>
</tbody>
</table>

<h3>About Freeport-McMoRan</h3>
Freeport-McMoRan Inc is an international mining company. It has organized its mining operations into four primary divisions: North America copper mines, South America mining, Indonesia mining and Molybdenum mines. Its reportable segments include the Morenci, Cerro Verde and Grasberg (Indonesia mining) copper mines, the Rod &amp; Refining operations and Atlantic Copper Smelting and Refining. It derives key revenue from the sale of Copper.
Following our analysis of the options activities associated with Freeport-McMoRan, we pivot to a closer look at the company's own performance.
<h3>Current Position of Freeport-McMoRan</h3>
<ul>
<li>Currently trading with a volume of 858,586, the FCX's price is up by 0.6%, now at $48.28. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 85 days.</li>
</ul>
<h3>Professional Analyst Ratings for Freeport-McMoRan</h3>
3 market experts have recently issued ratings for this stock, with a consensus target price of $55.333333333333336.
<ul>
<li>Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on Freeport-McMoRan with a target price of $52. </li>
<li>Showing optimism, an analyst from B of A Securities upgrades its rating to Buy with a revised price target of $59. </li>
<li>An analyst from Scotiabank has decided to maintain their Sector Outperform rating on Freeport-McMoRan, which currently sits at a price target of $55. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Freeport-McMoRan options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Freeport-McMoRan Options Trading: A Deep Dive into Market Sentiment

<h1 class="wp-block-heading">Top Stories for April 23, 2024:</h1>
<ol>
<li>Cleveland-Cliffs Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) reported <a href="https://www.benzinga.com/wiim/24/04/38378385/cleveland-cliffs-shares-are-trading-lower-after-the-companys-reported-worse-than-expected-q1-financi">first-quarter results</a>, including revenue of $5.2 billion, a net loss of $53 million and adjusted net income of $87 million. </li>
</ol>
Adjusted EBITDA reached $414 million, marking a significant year-over-year and quarter-over-quarter improvement.
The company announced the completion of a previous $1 billion share repurchase program, having bought back 30.4 million shares. It also introduced a new $1.5 billion share buyback initiative.&nbsp;
Steel shipments totaled 3.9 million net tons and the firm retired all remaining secured notes to enhance its liquidity position, which stood at $4 billion at the end of March 2024.
<ol start="2">
<li>Freeport-McMoRan Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) reported strong first-quarter 2024 results with copper sales and unit net cash costs surpassing estimates from January 2024 and the first quarter of 2023. </li>
</ol>
Net income reached $473 million, with consolidated sales of 1.1 billion pounds of copper, 568 thousand ounces of gold and 20 million pounds of molybdenum.&nbsp;
Indonesia smelter projects are close to completion and expected to start in the second quarter of 2024. 
The company&#8217;s operating cash flows totaled $1.9 billion and capital expenditures were $1.3 billion for the quarter.&nbsp;
Kathleen L. Quirk will become CEO on June 11, 2024, succeeding Richard C. Adkerson.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/news/large-cap/24/04/38364875/geopolitical-relief-triggers-gold-selloff-prices-dip-below-2-350-mark-mining-stocks-hit-hard">Geopolitical Relief Triggers Gold Selloff: Prices Dip Below $2,350 Mark, Mining Stocks Hit Hard</a>
<ol start="3">
<li>Worthington Steel Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WS#NYSE">WS</a>) was honored as a General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) Supplier of the Year for the third time, previously winning in 2020 and 2021. </li>
</ol>
GM recognized 86 suppliers for their 2023 performance, emphasizing three core values: safety, inclusion and relationships. The award celebrates suppliers who contribute to GM's goals of innovation and high-quality vehicle production.&nbsp;
Worthington Steel provides flat-roll carbon steel coils used in GM&#8217;s vehicle production across facilities in Indiana, Michigan, Ohio and Mexico.
<ol start="4">
<li>Metals Acquisition Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTAL#NYSE">MTAL</a>) released its Resource and Reserve Statement and three-year production guidance for the CSA Copper Mine, highlighting significant growth in resources and mine life. </li>
</ol>
Key updates include an extended mine life of 11 years up to 2034, a 67% increase from last year, and a 64% increase in contained copper to 0.5 million tons.&nbsp;
The measured and indicated mineral resources have risen to 229,000 tons of copper, with an additional 184,000 tons classified as inferred.&nbsp;
These enhancements occurred just 10 months post-acquisition, with continued drilling aimed at further expanding resources.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/m-a/24/04/38380999/exclusive-why-this-uranium-bull-market-is-different-weve-really-got-to-start-developing-mines-says-m">EXCLUSIVE: Why This Uranium Bull Market Is Different — &#8216;We&#8217;ve Really Got To Start Developing Mines,&#8217; Says Madison Metals CEO</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
Photo: Shutterstock

Cleveland-Cliffs, Freeport-McMoRan Report Q1 Results; Worthington Steel Gets GM Supplier Of The Year And More: Tuesday's Top Mining Stories

Freeport-McMoRan Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) shares are trading lower after the company reported<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38376523/freeport-mcmoran-first-quarter-2024-financial-and-operating-results-release-available-on-its-websi" rel="noreferrer noopener">&nbsp;first-quarter FY24 results</a>.
Revenue stood at $6.32 billion,&nbsp;beating the consensus of $5.66 billion. Adjusted EPS was $0.32, beating&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">the consensus of $0.27</a>.
Copper sales (excluding purchases) totaled 1.1 billion pounds, an increase of 33% Y/Y, led by higher mining and milling rates and ore grades at PT-FI. The average realized price per pound was $3.94, and production totaled 1.085 billion pounds.
Gold sales of 568 thousand ounces (more than doubled Y/Y); Average realized price per ounce was $2,145.&nbsp;
Operating income stood at $1.63 billion vs $1.60 billion a year ago. Operating cash flow for the quarter totaled $1.90 billion, compared to $1.05 billion a year ago.
Freeport-McMoRan had $6.3 billion in cash and equivalents at the end of the quarter. Consolidated debt totaled $9.4 billion.
In February, the company stated that Kathleen L. Quirk, President, will transition to President and Chief Executive Officer (CEO)&nbsp;<a target="_blank" href="https://www.benzinga.com//node/36969612" rel="noreferrer noopener">effective June 11, 2024.</a>
Q2 FY24 Outlook:&nbsp;Freeport-McMoRan expects consolidated sales volumes to be 1.0 billion pounds of copper, 500 thousand ounces of gold, and 21 million pounds of molybdenum. It expects unit net cash costs for copper mines to&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">average $1.57 per pound of copper</a>.
2024 Outlook:&nbsp;Freeport-McMoRan now expects consolidated sales volumes to be ~4.15 billion pounds of copper, 2.0 million ounces of gold, and 84 million pounds of molybdenum.&nbsp;
It sees consolidated unit net cash costs for copper mines to average $1.57 per pound of copper in 2024.
The company expects operating cash flows of ~$7.4 billion in 2024, assuming average prices of $4.25 per pound for copper, $2,300 per ounce for gold, and $20.00 per pound for molybdenum for the remainder of 2024. The company sees capital expenditures of ~$4.6 billion in 2024.
Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38169544/riding-the-wave-freeport-mcmoran-receives-upgrade-as-analyst-foresees-copper-and-go" rel="noreferrer noopener">Riding The Wave: Freeport-McMoRan Receives Upgrade As Analyst Foresees Copper And Gold Boom</a>
Kathleen L. Quirk said, &#8220;Market fundamentals for copper are positive, supported by copper&#8217;s increasingly important role in the global economy and limited available supplies to meet growing demand. Freeport is strongly positioned for the future as a leading producer of copper with multiple options for future growth and an experienced team with a track record of accomplishment.&#8221;&nbsp;
Investors can gain exposure to the stock via&nbsp;Sprott Copper Miners ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COPP#NASDAQ">COPP</a>) and&nbsp;Exchange Traded Concepts Trust Optica Rare Earths &amp; Critical Materials ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRIT#NYSE">CRIT</a>).
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38292100/freeport-mcmoran-vs-teck-resources-which-copper-stock-has-more-upside" rel="noreferrer noopener">Freeport-McMoRan Vs. Teck Resources — Which Copper Stock Has More Upside?</a>
Price Action: FCX shares are trading lower by 1.78% at $48.08 at the last check Tuesday.
Photo via Shutterstock

What's Going On With Freeport-McMoRan Shares Today?

Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) reported quarterly earnings of $0.32 per share which beat the analyst consensus estimate of $0.27 by 18.52 percent. The company reported quarterly sales of $6.32 billion which beat the analyst consensus estimate of $5.66 billion by 11.68 percent. This is a 17.29 percent increase over sales of $5.39 billion the same period last year.

Earnings Beats

Freeport-McMoRan Q1 2024 Adj EPS $0.32 Beats $0.27 Estimate, Sales $6.32B Beat $5.66B Estimate

<h3>Companies Reporting Before The Bell</h3>
&bull; RTX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) is expected to report quarterly earnings at $1.23 per share on revenue of $18.41 billion.
&bull; MSCI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) is expected to report quarterly earnings at $3.45 per share on revenue of $684.13 million.
&bull; Quest Diagnostics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) is expected to report quarterly earnings at $1.85 per share on revenue of $2.29 billion.
&bull; Community Bank System (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBU#NYSE">CBU</a>) is expected to report quarterly earnings at $0.78 per share on revenue of $176.83 million.
&bull; Herc Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRI#NYSE">HRI</a>) is estimated to report quarterly earnings at $2.15 per share on revenue of $782.85 million.
&bull; JetBlue Airways (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) is expected to report quarterly loss at $0.52 per share on revenue of $2.20 billion.
&bull; General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) is expected to report quarterly earnings at $2.14 per share on revenue of $41.88 billion.
&bull; GE Aero (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) is estimated to report quarterly earnings at $0.65 per share on revenue of $15.34 billion.
&bull; Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) is projected to report quarterly earnings at $0.70 per share on revenue of $3.85 billion.
&bull; United Parcel Service (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) is projected to report quarterly earnings at $1.30 per share on revenue of $21.87 billion.
&bull; Banc of California (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BANC#NYSE">BANC</a>) is projected to report quarterly earnings at $0.22 per share on revenue of $259.77 million.
&bull; Polaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) is estimated to report quarterly earnings at $0.06 per share on revenue of $1.75 billion.
&bull; PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) is projected to report quarterly earnings at $1.52 per share on revenue of $18.08 billion.
&bull; Kiniksa Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KNSA#NASDAQ">KNSA</a>) is expected to report quarterly loss at $0.18 per share on revenue of $79.61 million.
&bull; Xerox Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NASDAQ">XRX</a>) is projected to report quarterly earnings at $0.35 per share on revenue of $1.53 billion.
&bull; Sherwin-Williams (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHW#NYSE">SHW</a>) is likely to report quarterly earnings at $2.21 per share on revenue of $5.49 billion.
&bull; Dime Community Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCOM#NASDAQ">DCOM</a>) is projected to report quarterly earnings at $0.39 per share on revenue of $72.52 million.
&bull; Preferred Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFBC#NASDAQ">PFBC</a>) is projected to report quarterly earnings at $2.38 per share on revenue of $66.30 million.
&bull; Halliburton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) is estimated to report quarterly earnings at $0.74 per share on revenue of $5.67 billion.
&bull; Peoples Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEBO#NASDAQ">PEBO</a>) is estimated to report quarterly earnings at $0.80 per share on revenue of $109.74 million.
&bull; Pentair (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNR#NYSE">PNR</a>) is projected to report quarterly earnings at $0.90 per share on revenue of $1.01 billion.
&bull; WR Berkley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WRB#NYSE">WRB</a>) is expected to report quarterly earnings at $1.49 per share on revenue of $3.27 billion.
&bull; Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) is estimated to report quarterly earnings at $5.81 per share on revenue of $15.95 billion.
&bull; GATX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GATX#NYSE">GATX</a>) is estimated to report quarterly earnings at $1.76 per share on revenue of $375.80 million.
&bull; NextEra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>) is likely to report quarterly earnings at $0.73 per share on revenue of $5.92 billion.
&bull; Atlantic Union Bankshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AUB#NYSE">AUB</a>) is likely to report quarterly earnings at $0.72 per share on revenue of $181.92 million.
&bull; Invesco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVZ#NYSE">IVZ</a>) is estimated to report quarterly earnings at $0.39 per share on revenue of $1.09 billion.
&bull; Fiserv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>) is likely to report quarterly earnings at $1.79 per share on revenue of $4.58 billion.
&bull; NextEra Energy Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEP#NYSE">NEP</a>) is projected to report quarterly earnings at $0.21 per share on revenue of $331.80 million.
&bull; Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) is likely to report quarterly earnings at $0.30 per share on revenue of $5.23 billion.
&bull; Cambridge (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CATC#NASDAQ">CATC</a>) is expected to report quarterly earnings at $1.01 per share on revenue of $38.05 million.
&bull; Webster Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBS#NYSE">WBS</a>) is projected to report quarterly earnings at $1.42 per share on revenue of $618.43 million.
&bull; Option Care Health (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPCH#NASDAQ">OPCH</a>) is projected to report quarterly earnings at $0.23 per share on revenue of $1.10 billion.
&bull; Kimberly-Clark (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NYSE">KMB</a>) is likely to report quarterly earnings at $1.62 per share on revenue of $5.08 billion.
&bull; Old National (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) is projected to report quarterly earnings at $0.43 per share on revenue of $439.87 million.
&bull; First BanCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) is estimated to report quarterly earnings at $0.37 per share on revenue of $205.74 million.
&bull; First Commonwealth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCF#NYSE">FCF</a>) is expected to report quarterly earnings at $0.36 per share on revenue of $119.93 million.
&bull; Sandy Spring Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SASR#NASDAQ">SASR</a>) is estimated to report quarterly earnings at $0.45 per share on revenue of $81.04 million.
&bull; Popular (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPOP#NASDAQ">BPOP</a>) is expected to report quarterly earnings at $1.89 per share on revenue of $560.41 million.
&bull; Danaher (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>) is estimated to report quarterly earnings at $1.71 per share on revenue of $5.62 billion.
&bull; Philip Morris Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>) is likely to report quarterly earnings at $1.41 per share on revenue of $8.46 billion.
&bull; Ryder System (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/R#NYSE">R</a>) is estimated to report quarterly earnings at $1.71 per share on revenue of $3.06 billion.
&bull; LKQ (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKQ#NASDAQ">LKQ</a>) is likely to report quarterly earnings at $0.95 per share on revenue of $3.77 billion.
&bull; PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) is expected to report quarterly earnings at $2.36 per share on revenue of $3.58 billion.
<h3>Companies Reporting After The Bell</h3>
&bull; Avangrid (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGR#NYSE">AGR</a>) is projected to report quarterly earnings at $0.73 per share on revenue of $2.63 billion.
&bull; Rush Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUSHB#NASDAQ">RUSHB</a>) is likely to report earnings for its first quarter.
&bull; Rush Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUSHA#NASDAQ">RUSHA</a>) is projected to report quarterly earnings at $0.82 per share on revenue of $1.88 billion.
&bull; AudioEye (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEYE#NASDAQ">AEYE</a>) is likely to report quarterly loss at $0.08 per share on revenue of $8.03 million.
&bull; Stride (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LRN#NYSE">LRN</a>) is expected to report quarterly earnings at $1.43 per share on revenue of $507.18 million.
&bull; Zurn Elkay Water (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZWS#NYSE">ZWS</a>) is likely to report quarterly earnings at $0.26 per share on revenue of $368.99 million.
&bull; Renasant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) is projected to report quarterly earnings at $0.62 per share on revenue of $163.60 million.
&bull; KKR Real Estate Finance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KREF#NYSE">KREF</a>) is expected to report quarterly earnings at $0.38 per share on revenue of $44.35 million.
&bull; Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) is expected to report quarterly earnings at $0.40 per share on revenue of $6.38 billion.
&bull; Enphase Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) is likely to report quarterly earnings at $0.41 per share on revenue of $283.32 million.
&bull; Hanmi Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAFC#NASDAQ">HAFC</a>) is likely to report quarterly earnings at $0.52 per share on revenue of $59.03 million.
&bull; Matador Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTDR#NYSE">MTDR</a>) is likely to report quarterly earnings at $1.47 per share on revenue of $740.47 million.
&bull; Visa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) is likely to report quarterly earnings at $2.43 per share on revenue of $8.62 billion.
&bull; Chubb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) is likely to report quarterly earnings at $5.34 per share on revenue of $10.29 billion.
&bull; Steel Dynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) is estimated to report quarterly earnings at $3.43 per share on revenue of $4.73 billion.
&bull; Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) is expected to report quarterly earnings at $0.14 per share on revenue of $48.29 million.
&bull; CoStar Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGP#NASDAQ">CSGP</a>) is estimated to report quarterly earnings at $0.07 per share on revenue of $649.60 million.
&bull; Seagate Tech Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>) is projected to report quarterly earnings at $0.27 per share on revenue of $1.67 billion.
&bull; Hawaiian Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HA#NASDAQ">HA</a>) is projected to report quarterly loss at $2.62 per share on revenue of $628.95 million.
&bull; Vicor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VICR#NASDAQ">VICR</a>) is expected to report quarterly earnings at $0.11 per share on revenue of $84.83 million.
&bull; Veritex Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VBTX#NASDAQ">VBTX</a>) is projected to report quarterly earnings at $0.58 per share on revenue of $109.00 million.
&bull; Artisan Partners Asset (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APAM#NYSE">APAM</a>) is projected to report quarterly earnings at $0.73 per share on revenue of $265.60 million.
&bull; Enova International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENVA#NYSE">ENVA</a>) is expected to report quarterly earnings at $1.70 per share on revenue of $588.52 million.
&bull; Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is likely to report quarterly earnings at $0.51 per share on revenue of $21.27 billion.
&bull; EQT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>) is likely to report quarterly earnings at $0.66 per share on revenue of $1.63 billion.
&bull; West Fraser Timber (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFG#NYSE">WFG</a>) is likely to report quarterly earnings at $0.26 per share on revenue of $2.01 billion.
&bull; Agree Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADC#NYSE">ADC</a>) is likely to report quarterly earnings at $1.01 per share on revenue of $148.23 million.
&bull; Highwoods Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIW#NYSE">HIW</a>) is projected to report quarterly earnings at $0.90 per share on revenue of $206.78 million.
&bull; Retail Opportunity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIC#NASDAQ">ROIC</a>) is likely to report quarterly earnings at $0.26 per share on revenue of $83.82 million.
&bull; Pebblebrook Hotel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEB#NYSE">PEB</a>) is likely to report quarterly earnings at $0.15 per share on revenue of $303.41 million.
&bull; Trustmark (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMK#NASDAQ">TRMK</a>) is estimated to report quarterly earnings at $0.61 per share on revenue of $189.37 million.
&bull; Range Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RRC#NYSE">RRC</a>) is likely to report quarterly earnings at $0.61 per share on revenue of $695.20 million.
&bull; Mattel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) is expected to report quarterly loss at $0.13 per share on revenue of $831.06 million.
&bull; EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) is expected to report quarterly earnings at $2.01 per share on revenue of $152.09 million.
&bull; Manhattan Associates (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) is likely to report quarterly earnings at $0.87 per share on revenue of $243.45 million.
&bull; QCR Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCRH#NASDAQ">QCRH</a>) is likely to report quarterly earnings at $1.30 per share on revenue of $58.85 million.
&bull; Wesbanco (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WSBC#NASDAQ">WSBC</a>) is estimated to report quarterly earnings at $0.55 per share on revenue of $116.64 million.
&bull; Premier Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFC#NASDAQ">PFC</a>) is likely to report quarterly earnings at $0.47 per share on revenue of $52.54 million.
&bull; Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) is likely to report quarterly earnings at $1.28 per share on revenue of $3.14 billion.
&bull; Veralto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLTO#NYSE">VLTO</a>) is expected to report quarterly earnings at $0.76 per share on revenue of $1.22 billion.
&bull; Equity Residential (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQR#NYSE">EQR</a>) is projected to report quarterly earnings at $0.90 per share on revenue of $726.32 million.
&bull; Texas Instruments (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) is projected to report quarterly earnings at $1.07 per share on revenue of $3.61 billion.
&bull; iShares Frontier and Select EM ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FM#NYSE">FM</a>) is expected to report quarterly loss at $0.06 per share on revenue of $1.06 billion.
&bull; IDEX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEX#NYSE">IEX</a>) is estimated to report quarterly earnings at $1.75 per share on revenue of $806.94 million.
&bull; Weatherford International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>) is likely to report quarterly earnings at $1.44 per share on revenue of $1.33 billion.
&bull; Bank of N.T Butterfield (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NTB#NYSE">NTB</a>) is estimated to report quarterly earnings at $0.98 per share on revenue of $137.26 million.
&bull; First Busey (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BUSE#NASDAQ">BUSE</a>) is expected to report quarterly earnings at $0.49 per share on revenue of $109.21 million.
&bull; East West Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWBC#NASDAQ">EWBC</a>) is likely to report quarterly earnings at $1.99 per share on revenue of $577.70 million.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

AEYE

APAM

BANC

BPOP

BUSE

CATC

CSGP

DCOM

ENPH

ENVA

EWBC

FFIC

GATX

HAFC

JBLU

KNSA

KREF

MANH

MSCI

MTDR

OPCH

PEBO

PFBC

QCRH

RNST

ROIC

RUSHA

RUSHB

SASR

SPOT

STLD

TRMK

TSLA

VBTX

VICR

VLTO

WFRD

WSBC

Earnings Scheduled For April 23, 2024

Whales with a lot of money to spend have taken a noticeably bearish stance on Freeport-McMoRan.
Looking at options history for Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) we detected 11 trades.
If we consider the specifics of each trade, it is accurate to state that 18% of the investors opened trades with bullish expectations and 81% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $208,299 and 7, calls, for a total amount of $349,790.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $48.0 to $60.0 for Freeport-McMoRan over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Freeport-McMoRan's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Freeport-McMoRan's substantial trades, within a strike price spectrum from $48.0 to $60.0 over the preceding 30 days.
<h3>Freeport-McMoRan Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713795386_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>FCX</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$3.05</td>
<td>$2.84</td>
<td>$2.85</td>
<td>$50.00</td>
<td>$114.0K</td>
<td>9.6K</td>
<td style="text-align: right;">429</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>05/17/24</td>
<td>$2.61</td>
<td>$2.55</td>
<td>$2.58</td>
<td>$48.00</td>
<td>$103.2K</td>
<td>18.7K</td>
<td style="text-align: right;">430</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$1.38</td>
<td>$1.33</td>
<td>$1.33</td>
<td>$48.00</td>
<td>$66.5K</td>
<td>539</td>
<td style="text-align: right;">522</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$3.2</td>
<td>$3.0</td>
<td>$3.0</td>
<td>$60.00</td>
<td>$60.0K</td>
<td>6.5K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>FCX</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$1.77</td>
<td>$1.67</td>
<td>$1.76</td>
<td>$48.00</td>
<td>$35.2K</td>
<td>3.2K</td>
<td style="text-align: right;">198</td>
</tr>
</tbody>
</table>

<h3>About Freeport-McMoRan</h3>
Freeport-McMoRan Inc is an international mining company. It has organized its mining operations into four primary divisions: North America copper mines, South America mining, Indonesia mining and Molybdenum mines. Its reportable segments include the Morenci, Cerro Verde and Grasberg (Indonesia mining) copper mines, the Rod &amp; Refining operations and Atlantic Copper Smelting and Refining. It derives key revenue from the sale of Copper.
<h3>Current Position of Freeport-McMoRan</h3>
<ul>
<li>Trading volume stands at 3,697,417, with FCX's price down by -1.37%, positioned at $48.93.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 1 days.</li>
</ul>
<h3>What Analysts Are Saying About Freeport-McMoRan</h3>
In the last month, 3 experts released ratings on this stock with an average target price of $55.333333333333336.
<ul>
<li>Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Outperform rating for Freeport-McMoRan, targeting a price of $55. </li>
<li>An analyst from JP Morgan has decided to maintain their Neutral rating on Freeport-McMoRan, which currently sits at a price target of $52. </li>
<li>In a positive move, an analyst from B of A Securities has upgraded their rating to Buy and adjusted the price target to $59. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Freeport-McMoRan, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Check Out What Whales Are Doing With FCX

Ratings for Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $55.25, a high estimate of $59.00, and a low estimate of $52.00. Marking an increase of 21.43%, the current average surpasses the previous average price target of $45.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1713380428_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
A clear picture of Freeport-McMoRan's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Bill Peterson</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$52.00</td>
<td>$43.00</td>
</tr>
<tr>
<td>Orest Wowkodaw</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Outperform</td>
<td>$55.00</td>
<td>$48.00</td>
</tr>
<tr>
<td>Lawson Winder</td>
<td>B of A Securities</td>
<td>Announces</td>
<td>Buy</td>
<td>$59.00</td>
<td>-</td>
</tr>
<tr>
<td>Sam Crittenden</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$55.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Freeport-McMoRan. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Freeport-McMoRan compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Freeport-McMoRan's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Freeport-McMoRan's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/FCX/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Freeport-McMoRan analyst ratings.</a>
<h2>Discovering Freeport-McMoRan: A Closer Look</h2>
Freeport-McMoRan Inc is an international mining company. It has organized its mining operations into four primary divisions: North America copper mines, South America mining, Indonesia mining and Molybdenum mines. Its reportable segments include the Morenci, Cerro Verde and Grasberg (Indonesia mining) copper mines, the Rod &amp; Refining operations and Atlantic Copper Smelting and Refining. It derives key revenue from the sale of Copper.
<h3>Freeport-McMoRan: A Financial Overview</h3>
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Revenue Growth: Over the 3 months period, Freeport-McMoRan showcased positive performance, achieving a revenue growth rate of 2.55% as of 31 December, 2023. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Materials sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Freeport-McMoRan's net margin excels beyond industry benchmarks, reaching 6.57%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Freeport-McMoRan's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 2.34%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Freeport-McMoRan's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.75%, the company may face hurdles in achieving optimal financial performance.
Debt Management: With a high debt-to-equity ratio of 0.59, Freeport-McMoRan faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>The Basics of Analyst Ratings</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Latest Analyst Ratings For Freeport-McMoRan

JP Morgan analyst Bill Peterson maintains Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) with a Neutral and raises the price target from $43 to $52.

JP Morgan Maintains Neutral on Freeport-McMoRan, Raises Price Target to $52

As the global economy continues its recovery trajectory, the spotlight remains firmly fixed on commodities, particularly copper, a key player in <a href="https://www.benzinga.com/money/best-copper-stocks">various industrial sectors</a>.
JPMorgan analyst Bill Peterson, has provided valuable insights into the performance and prospects of two prominent players in the copper market: Freeport-McMoRan Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) and Teck Resources Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TECK#NYSE">TECK</a>).
Also Read: <a href="https://www.benzinga.com/news/24/04/38241751/ai-boom-can-lead-to-potential-demand-growth-for-this-metal-wall-street-turns-bullish">AI Boom Can Lead To &#8216;Potential Demand Growth&#8217; For This Metal, Wall Street Turns Bullish</a>
<h2 class="wp-block-heading">Supply-Driven Copper Inflection Priced In</h2>
Peterson&#8217;s analysis delves into the upcoming Q1 results for both the companies, highlighting the nuanced dynamics shaping their performance. Freeport-McMoRan reports the first quarter on April 23, while Teck Resources reports on April 25.
The year, so far, has been very benevolent on copper. The Global X Copper Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>) is up over 20% YTD. Freeport-McMoRan and Teck Resources command 4.94% and 4.21% of the COPX portfolio currently. Freeport-McMoRan stock is up 16.45% while Teck Resources stock is up 11.50%. So, the supply-driven inflection appears priced in.
<h2 class="wp-block-heading">Next Leg Dependent On Demand Improvement</h2>
The recent bullish shift in copper prices, outpacing fundamental improvements, underscores the need for sustained demand growth to justify current valuations. While supply constraints have lent support, the awaited catalyst for further upside lies in a robust recovery in global demand, especially outside China.
Peterson sees growth ahead for copper miners being driven by demand improvement &#8211; the next leg in copper&#8217;s trajectory.
According to Peterson, Freeport-McMoRan is expected to face provisional pricing adjustments and output challenges in its North and South America assets. On the other hand, Teck Resources is anticipated to benefit from higher realized copper pricing, albeit offset by conservative estimates for its QB2 ramp-up.
Valuation: Despite Freeport McMoRan&#8217;s historical appeal as a &#8216;safe&#8217; investment option with significant copper and gold exposure, investor sentiment appears to favor Teck Resources. This is driven by its growth potential and favorable valuation relative to the former. 
Moreover, Teck&#8217;s doubling copper exposure by 2025 and leverage to zinc pricing contribute to its promising outlook, especially in light of JPMorgan&#8217;s bullish price forecasts.
<h3 class="wp-block-heading">Teck: Strong FCF Generation, Unique Portfolio Of Greenfield Copper Projects</h3>
Peterson maintains an Overweight rating for Teck Resources, with a price target of C$70 ($50), implying an upside of 35%.
He highlighted the company&#8217;s strategic positioning amidst evolving market dynamics. 
Teck&#8217;s diversified portfolio and near-term growth prospects, particularly the de-risking of its flagship QB2 asset, position it for significant production growth and a re-rating post its exit from the carbon-intensive coal business.
<h3 class="wp-block-heading">Freeport-McMoRan: Additional FCF Starting 2024/2025, Only Incremental Relative Upside</h3>
In contrast, Freeport-McMoRan receives a Neutral rating, with a price target of $52, implying an upside of 19%.
While Freeport offers stability and incremental upside through its existing asset base and near-term growth opportunities, Teck&#8217;s more favorable valuation and growth potential tilt the scales in its favor.
Bill Peterson underscores the intricate balance between supply dynamics and demand growth shaping the fortunes of copper stocks like Freeport-McMoRan and Teck Resources. 
While both companies stand to benefit from a bullish copper market, Teck emerges as the preferred choice for investors seeking greater upside potential and favorable valuations, driven by its diversified portfolio and growth initiatives.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37985516/not-just-nvidia-ai-is-also-fueling-global-copper-demand-analyst-reveals-3-top-stock">Not Just Nvidia, AI Is Also Fueling Global Copper Demand: Analyst Reveals 3 Top Stock Picks</a>
Image: Midjourney

Long Ideas

Trading Ideas

TECK

Freeport-McMoRan Vs. Teck Resources — Which Copper Stock Has More Upside?

On CNBC&rsquo;s &quot;<a href="https://www.cnbc.com/video/2024/04/16/final-trades-applovin-freeport-mcmoran-and-cvs-health.html">Halftime Report Final Trades</a>,&quot; Joshua Brown of Ritholtz Wealth Management said AppLovin Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/app#NASDAQ">APP</a>) is the number one performing <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38190730/josh-brown-is-ready-to-buy-the-best-performing-stock-in-the-russell-1000-they-make-tons-"> large cap stock of the year so far.</a>
On April 16, Morgan Stanley analyst Matthew Cost maintained AppLovin with an Equal-Weight rating and raised the price target from $55 to $70.
Stephanie Link of Hightower said she likes Freeport-McMoRan Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fcx#NYSE">FCX</a>) amid recovery in China.
On April 9, BofA Securities analyst Lawson Winder upgraded Freeport-McMoRan from Neutral to Buy and announced a $59 price target, while Scotiabank analyst Orest Wowkodaw maintained the stock with a Sector Outperform and raised the price target from $48 to $55.
Freeport-McMoRan is a top holding in the broader SPDR S&amp;P Metals &amp; Mining ETF (ARCA: XME).
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
Jim Lebenthal of Cerity Partners named CVS Health Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvs#NYSE">CVS</a>), which is set to report quarterly earnings soon.
CVS Health is scheduled to hold a conference call with analysts and investors on May 1 to discuss first quarter 2024 financial results. Analysts expect the company to report quarterly earnings at $1.71 per share, down from $2.2 per share in the year-ago period. The company is projected to post quarterly revenue of $89.21 billion, up from $80.81 billion in the year-earlier quarter.
<h3>Price Action:</h3>
<ul>
<li>AppLovin shares rose 1.3% to close at $72.32 on Tuesday.</li>
<li>Freeport-McMoRan shares fell 1.2% to settle at $49.41 on Tuesday.</li>
<li>CVS Health shares rose 0.1% to close at $69.03 during Tuesday&rsquo;s session.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38284954/abbott-laboratories-u-s-bancorp-and-3-stocks-to-watch-heading-into-wednesday"> Abbott Laboratories, U.S. Bancorp And 3 Stocks To Watch Heading Into Wednesday </a>

Media

Freeport-McMoRan, AppLovin And A Major Healthcare Stock On CNBC's 'Final Trades'

CNBC Halftime Report Final Trades: Applovin, Freeport-McMoRan, CVS

On CNBC&rsquo;s &quot;<a href="https://www.cnbc.com/video/2024/04/15/final-trades-shell-freeport-mcmoran-and-steel-dynamics.html">Halftime Report Final Trades</a>,&quot; Jenny Van Leeuwen Harrington of Gilman Hill Asset Management, LLC said Shell plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/shel#NYSE">SHEL</a>) is trading at&nbsp;nine times earnings and also has a&nbsp;<a href="https://www.benzinga.com/markets/equities/24/04/38106768/shells-lng-trading-update-reveals-surprising-shifts-details">4% dividend yield.</a>
On April 5, Shell updated its first quarter FY24 operational outlook, reflecting lower results from its liquefied natural gas (LNG) trading business. For Integrated Gas, the company updated the production outlook to be 960 &ndash; 1,000 thousand boe/d (vs. 930 &ndash; 990 thousand boe/d expected earlier) and LNG liquefaction volumes to 7.2 &ndash; 7.6 MT (vs. 7.0 &ndash; 7.6 MT prior).
Stephen Weiss of Short Hills Capital Partners said he is short on Invesco QQQ Trust (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>).
Sarat Sethi said Freeport-McMoRan Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fcx#NYSE">FCX</a>) is the best way to play copper, as copper demand keeps going up and supply is limited.
On April 9, BofA Securities analyst Lawson Winder upgraded Freeport-McMoRan from Neutral to Buy and announced a $59 price target, while Scotiabank analyst Orest Wowkodaw maintained the stock with a Sector Outperform and raised the price target from $48 to $55.
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
Joseph M. Terranova of Virtus Investment Partners named Steel Dynamics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stld#NASDAQ">STLD</a>) as his final trade.
Steel Dynamics is expected to release first-quarter financial results after the closing bell on April 23. Analysts expect the company to report quarterly earnings at $3.51 per share on revenue of $4.74 billion.
Price Action:
<ul>
<li>Shell shares fell 0.7% to close at $71.94 on Monday.</li>
<li>Freeport-McMoRan shares rose 1.1% to settle at $50.02 on Monday.</li>
<li>Steel Dynamics shares rose 0.2% to close at $140.97 during Monday&rsquo;s session.</li>
<li>Invesco QQQ Trust fell 1.7% during Monday&rsquo;s session.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38263260/bank-of-america-morgan-stanley-and-3-stocks-to-watch-heading-into-tuesday"> Bank of America, Morgan Stanley And 3 Stocks To Watch Heading Into Tuesday </a>
Image generated using artificial intelligence via Midjourney.

SHEL

Shell, Freeport-McMoRan, Steel Dynamics And More On CNBC's 'Final Trades'

CNBC Halftime Report Final Trades: Steel Dynamics, Shell PLC, Freeport-McMoRan

Deep-pocketed investors have adopted a bullish approach towards Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in FCX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Freeport-McMoRan. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 58% leaning bullish and 41% bearish. Among these notable options, 3 are puts, totaling $125,710, and 9 are calls, amounting to $958,202.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $32.0 to $51.0 for Freeport-McMoRan over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Freeport-McMoRan's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Freeport-McMoRan's whale activity within a strike price range from $32.0 to $51.0 in the last 30 days. 
<h3>Freeport-McMoRan 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713192360_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$20.8</td>
<td>$20.15</td>
<td>$20.2</td>
<td>$32.00</td>
<td>$674.6K</td>
<td>3.1K</td>
<td>334</td>
</tr>
<tr>
<td>FCX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$7.15</td>
<td>$6.95</td>
<td>$7.0</td>
<td>$50.00</td>
<td>$70.0K</td>
<td>309</td>
<td>100</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$1.12</td>
<td>$1.11</td>
<td>$1.12</td>
<td>$50.00</td>
<td>$56.0K</td>
<td>11.0K</td>
<td>2.8K</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$4.55</td>
<td>$4.5</td>
<td>$4.5</td>
<td>$50.00</td>
<td>$45.0K</td>
<td>23.2K</td>
<td>173</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$1.38</td>
<td>$1.3</td>
<td>$1.3</td>
<td>$49.50</td>
<td>$39.0K</td>
<td>4.1K</td>
<td>1.0K</td>
</tr>
</tbody>
</table>

<h3>About Freeport-McMoRan</h3>
Freeport-McMoRan Inc is an international mining company. It has organized its mining operations into four primary divisions: North America copper mines, South America mining, Indonesia mining and Molybdenum mines. Its reportable segments include the Morenci, Cerro Verde and Grasberg (Indonesia mining) copper mines, the Rod &amp; Refining operations and Atlantic Copper Smelting and Refining. It derives key revenue from the sale of Copper.
After a thorough review of the options trading surrounding Freeport-McMoRan, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Current Position of Freeport-McMoRan</h3>
<ul>
<li>With a trading volume of 2,981,796, the price of FCX is up by 2.55%, reaching $50.73.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 8 days from now.</li>
</ul>
<h3>Expert Opinions on Freeport-McMoRan</h3>
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $57.0.
<ul>
<li>An analyst from B of A Securities has elevated its stance to Buy, setting a new price target at $59. </li>
<li>Consistent in their evaluation, an analyst from Scotiabank keeps a Sector Outperform rating on Freeport-McMoRan with a target price of $55. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Freeport-McMoRan, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

This Is What Whales Are Betting On Freeport-McMoRan

Freeport-McMoRan Inc. (FCX) Q1 2024 Earnings Call Transcript

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Freeport-McMoRan (NYSE:<a href="https://investorplace.com/stock-quotes/fcx-stock-quote/">FCX</a>) just reported results for the first quarter of 2024.<ul><li>Freeport-McMoRan reported earnings per share of 32 cents. This was above the analyst estimate for EPS of 27 cents.</li><li>The company reported revenue of $6.32 billion.</li><li>This was 11.68% better than the analyst estimate for revenue of $5.66 billion.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/04/fcx-stock-earnings-freeport-mcmoran-for-q1-of-2024/">FCX Stock Earnings: Freeport-McMoRan Beats EPS, Beats Revenue for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

FCX Stock Earnings: Freeport-McMoRan Beats EPS, Beats Revenue for Q1 2024

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While the overall stock market has slumped in recent weeks, metals and mining stocks are showing no signs of weakness and are instead picking up mo...

XME ETF: Time to Check Out Metals and Mining Stocks?

In a report released today, Bob Brackett from Bernstein maintained a Buy rating on Freeport-McMoRan (FCX – Research Report), with a price target of...

Freeport-McMoRan (FCX) Receives a Buy from Bernstein

In this video, Ira Epstein reviews the day's trading in various SPDR-ETF markets for the trading day that ended, Thursday, April 25.

SPDR ETF Report For Thursday, April 25

AMZN

EBAY

GOOGL

INTC

MSFT

NVDA

RSPD

SCCO

Small Cap

Opinion

Press Releases

North American Lithium 2.0: High-Grade Lithium Concentrations Attract Global Financing Attention

Freeport-McMoRan Declares Quarterly Cash Dividends on Common Stock

Global Copper Mining Market Size Projected to Reach $11.17 Billion By 2030 as Investments in Infrastructure Jump

Freeport-McMoRan Fourth-Quarter and Year Ended 2023 Financial and Operating Results Release Available on Its Website

Freeport-McMoRan on Copper Prices: You Ain't Seen Nothing Yet, an Industrial Info News Alert

Freeport-McMoRan Announces Leadership Transition

4 Stocks To Watch With Rising Copper Prices

Freeport-McMoRan First-Quarter 2024 Financial and Operating Results Release Available on Its Website

Freeport-McMoRan Publishes 2023 Annual Report on Sustainability

BNNHF

CSE:BNN

CSE:USGD

FLMMF

FQVLF

LTHM

LUMI

NNHF

TSX:ERO

TSX:FIL

TSX:LUN

USGDF

Alcoa

Alpha Metallurgical Resources, Inc. Common Stock

Alpha Metallurgical

Anglogold Ashanti

BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares)

BHP Group

Compañía de Minas

Cleveland-Cliffs

Commercial Metals

Carpenter Technology Corporation Common Stock

Carpenter Tech

Gold Fields Limited American Depositary Shares

Gold Fields

Gerdau

Warrior Met Coal

Harmony Gold Mining Co

ArcelorMittal

Newmont

Nucor

POSCO Holdings Inc. American Depositary Shares (Each representing 1/4th of a share of Common Stock)