Freeport's Copper Boom: Earnings & Market Outlook

Freeport-McMoRan, a $58.4 billion mining giant, focuses on copper, a key metal for renewable energy and electric vehicles. Analysts predict a 32.3% drop in Q4 earnings, but the company has consistently met or exceeded estimates. Looking ahead, earnings are forecast to rise slightly in FY2022 and significantly in FY2026, driven by strong copper demand. The stock has surged 30.3% in the past year, outperforming the S&P 500 and Materials Select Sector fund. Analysts remain bullish, with a strong buy rating and an average price target of $50.95. As Freeport prepares for earnings, copper trends and production updates will be key.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.