Actionable news
0
All posts from Actionable news
Actionable news in FCX: FreePORT-MCMORAN Inc,

Can Freeport-McMoRan Rise Again?

Since the beginning of the fourth quarter of this year, shares of Freeport-McMoRan Inc. (NYSE: FCX) have lost about 10% of their value. From their peak on October 9, the shares traded down about 38% in the noon hour of Wednesday.

And one of the world’s other major copper miners, BHP Billiton PLC (NYSE: BHP) said on Tuesday that it does not expect the price for copper to improve for another couple of years. By 2020, however, the company sees demand outstripping supply as older, less productive mines can’t be replaced quickly enough.

Freeport and other copper miners are struggling to complete costly capital projects soon, however, hoping that higher grade ores in the new mines will lower their costs of production from over $1.00 a pound, a necessity when commodity...


More