| Freeport-McMoRan Continues to Trade Weakly: Investor Takeaways | |
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What Do Recent Copper Industry Indicators Mean? Freeport-McMoRan continues to trade weakly
Freeport-McMoRan (FCX) touched its 52-week low on August 7 before closing at $11.65—up 10.64% from the previous day’s close. Prior to this, the stock has traded weakly, reaching new lows almost every day.
Dismal Wall Street performance
The above chart shows the recent stock market performance of copper producers. Freeport has lost more than 50% since the beginning of the year. It currently trades at less than one-third of its 52-week high of $37.10 per share.
Teck Resources (TCK) has lost ~45% since the beginning of the year. Along with copper, Teck Resources is also involved in coal mining. Its coal segment has been under severe pressure on subdued Chinese demand. China’s steel demand is expected to contract this year. The slowdown in China’s steel demand has negatively impacted the fundamentals of iron ore and coal, which are used in steel production.
Southern Copper (SCCO) has bucked the trend and managed to hold relatively steady amid global commodity carnage. Its share price is down ~2% so far in 2015. This is much less than other companies in the metals and mining space (XME).
Metal shares, including Alcoa and BHP Billiton (BHP), seem to defy all laws of gravity and lift. At a time when the broader US markets (VTI) are trading near their all-time highs, metal shares seem to be headed southward.
Series overview
In this series, we’ll look at some of the key indicators that Freeport investors should track. This should help you understand where Freeport could be headed in the coming months.
Let’s begin by looking at the recent trend in copper prices in the next part of this series.
Continue to Next Part Browse this series on Market Realist:
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Freeport McMoRan Copper and Gold Inc.
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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 d'or et de cuivre basée aux Etats-Unis D'Amerique. Freeport McMoran est productrice d'or, de cuivre, 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 68,1 milliards US$ (59,6 milliards €). La valeur de son action a atteint son plus bas niveau récent le 06 mars 2020 à 10,00 US$, et son plus haut niveau récent le 28 mars 2024 à 47,02 US$. Freeport McMoran possède 1 448 000 000 actions en circulation. |