| Freeport-McMoRan: A Roller Coaster Ride in November 2015 | |
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Freeport-McMoRan Nears 52-Week Lows on November 13, Commodities Crash Freeport-McMoRan
On November 13, 2015, Freeport-McMoRan (FCX) closed at $8.68. Although Freeport’s stock is down more than 25% so far in November, it is still trading ~12% above its 2015 lows. The year has been nothing short of a roller coaster ride for Freeport investors.
Stocks have been falling
The entire base metals space (XLB) has seen heightened volatility over the last six months or so. However, companies including Freeport-McMoRan, Teck Resources (TCK), and Glencore (GLNCY) have been more volatile as compared to some of their peers in this sector.
Teck Resources has seen its share price dwindle more than 65% this year. Teck Resources is the world’s second largest exporter of steelmaking coal. It is also North America’s largest coal producer, with the annual capacity to produce 28 million tons. Along with falling copper prices, Teck Resources has been hit by the reduced Chinese coal demand.
Freeport is not far behind, and its stock has fallen more than 62% this year. Southern Copper (SCCO) has not fallen much, as can be seen in the graph above. Please read Southern Copper: A Business Overview of a Copper Giant to learn more about SCCO.
Key drivers
There are several factors that would determine how Freeport-McMoRan could trade over the next few months. As Freeport is also involved in the energy exploration business, its stock price could also be guided by movement in energy prices. However, Freeport has announced that the company is looking at several “strategic alternatives” for the energy business, and a final decision has yet to be made.
The key driver, however, would be how copper prices play out in the coming months. In the next part of this series, we’ll explore what analysts think about copper prices.
Continue to Next Part Browse this series on Market Realist:
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VanEck Vectors Global Alternative Energy ETF
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PRODUCTEUR |
CODE : FCX |
ISIN : US35671D8570 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Freeport McMoran est une société de production minière de cuivre et d'or basée aux Etats-Unis D'Amerique. Freeport McMoran est productrice de cuivre, d'or, d'argent, de cobalt et de molybdène au Chili, au Perou, en Indonesie et en Republique Democratique Du Congo, en développement de projets de cuivre au Perou, et détient divers projets d'exploration au Chili. Ses principaux projets en production sont CANDELARIA, EL ABRA, CHINO - MILL, HENDERSON, MIAMI - ROM LEACH, MORENCI - MILL, OJOS DEL SALADO, MORENCI et MORENCI - ROM LEACH au Chili, GRASBERG, SIERRITA et BAGDAD en Indonesie, TENKE FUNGURUME et TYRONE en Republique Democratique Du Congo et CERRO VERDE au Perou, son principal projet en développement est SAFFORD au Perou et ses principaux projets en exploration sont BAGDAD - ROM LEACH et CHINO - ROM LEACH au Perou et CERRO VERDE - MILL, CERRO VERDE - CRUSHED LEACH, CERRO VERDE - ROM LEACH, EL ABRA - ROM LEACH et CLIMAX au Chili. Freeport McMoran est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 2,1 milliards (1,9 milliards €). La valeur de son action a atteint son plus bas niveau récent le 06 mars 2020 à 10,00 , et son plus haut niveau récent le 19 septembre 2024 à 45,14 . Freeport McMoran possède 47 442 200 actions en circulation. |