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Freeport-McMoRan: Should You Give Up on It after a 20% Rally?

Mark O'Hara
Freeport-McMoRan: Should You Give Up on It after a 20% Rally?

Freeport-McMoRan (FCX) has been having a strong run since May. In April, it had a selling spree, especially after its first-quarter earnings call. The company not only missed its earnings estimate but also lowered its 2018 production guidance while raising its unit cash cost guidance for the year. Southern Copper (SCCO) also lowered its 2018 production guidance, and BHP Billiton (BHP) narrowed its fiscal 2018 copper production guidance.