Freeport-McMoRan Inc Stock Price Movement

Freeport-McMoRan Inc, a leading American mining company, has experienced a significant surge in its stock price in recent times. The increase is attributed to the growing demand for copper, driven by the expansion of renewable energy and data centers.

• Copper demand is expected to increase by 30% by 2040, according to estimates.
• The company’s copper production has been a major beneficiary of the growing demand.

However, recent analyst downgrades by Morgan Stanley have put pressure on the stock, causing it to fall by approximately 4%.

Upcoming Earnings Report

The company is set to report its earnings on July 23. Consensus earnings are expected to be around $0.44 per share, representing a 5% increase from the previous year.

• Key metrics to watch:
  • Earnings per share
  • Revenue growth
  • Copper production levels
• The upcoming earnings report is expected to have a significant impact on the stock price, with investors closely watching the company’s performance.