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Freeport-McMoRan Inc. (FCX)

NYSE - NYSE Delayed Price. Currency in USD
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23.52-0.02 (-0.08%)
At close: 1:03PM EST
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  • R
    Randall
    There's and article Inflation fear and green hope drive investors into Copper. From Bloomberg. Tried to post without success. Can someone post good read.
  • B
    Bert
    Good news for FCX. China will build that smelter in Indonesia.
  • S
    SteveO
    From the Asian Times article ---

    Regarded as one of the world’s most profitable mining operations, thanks to its rich gold deposits, the proven reserves at the high-altitude Grasberg contribute to about a third of FCX’s total portfolio, which also includes copper mines in the United States and Chile.

    Simple math -- so FCX-Grasberg accounts for about a third of FCX total portfolio now, effective January 1, 2023, FCX--Grasberg will account for about 20%. Free cash flow will drop big time!!
  • H
    Highlowsel
    Sell side has wasted no time. They hitting the bid at a +100K share per minute clip. Clearly they want to re-establish control and throttle the bid. At least...for now....$23.80. Looks like they're trying to work it back to flat...close that upside gap. How many times has this been seen before?
  • A
    Aptosian
    Visit: https://www.bloombergquint.com/ for the latest article - Inflation Fear and Green Hope Drive Investors Into Copper by Jack Farchy Mark Burton - November 29 2020, 10:30 AM November 30 2020, 2:51 AM

    Read more at: https://www.bloombergquint.com/markets/inflation-fear-and-green-hope-drive-investors-into-copper
    Copyright © BloombergQuint
  • U
    Ultra
    This one will earn me some hate........

    But copper is getting ahead of itself, and it's price is being driven by drug-fueled US commodity fund traders playing in the CME (and snorting lots of high quality la cocaína...), and not driven by HARD industrial reality.

    Things are GOOD for copper...........but NOT THAT GOOD to warrant copper sticking to any kind of hardpoint baseline average in the $3.40/lb. range.

    China's copper dealers (and smelters) will pull back importing refined copper at these prices, and Chinese fund traders will probably lead the charge (in reverse, on prices soon). China has been rabid buyers all year, and they have NOT been using all that copper they've been bringing into the country.

    Expect a pull back in copper prices, probably to the $3.00/lb mark in the next several months.

    Time for China funds to launch massive bear raids on SHFE and LME Globex soon. I expect this over Xmas holidays, in a rerun of Dec 2014.

    The trade in the West is too lopsided, and when the goofs on the CME get wind the Chinese are dumping copper........they'll unload to salvage what's left of their quickly eroding profits.

    So you know what's likely coming....

    Long-term, thing are good, however.
  • s
    sp
    What ! Didn't think the standoff would end anytime. That's a big fcx break right there
  • M
    Mike
    This comment may lack the amount of sophistication required on a board full of experts on mining, day trading, chart reading, ebtita, etc.. but I love a day when a stock skips an entire dollar amount in one day. Close Monday in the 21's and then close Tuesday in the 23's. I think that this is awesome.
  • R
    Randall
    Copper pushing Higher 3.3830 Gold 1,810. Market Green Dow hanging around 50 points. If Copper holds up FCX could see 24.20 Today.
  • W
    William
    Now we just need one of the mining whales to make a $35/share buyout offer!!!
  • H
    Highlowsel
    Intraday 15 minute (interval) chart shows all selling. Somebody is on a mission...and it's to throttle the bid.

    It's working. Bid $23.51. I'll bet this is about where they close it....after a test shove into the low .40's....
  • R
    Randall
    Gold starting to come back 1,815 Copper moving up 3.34. If this holds up FCX headed to 25 by Monday hope you loaded up. The Train Has Left The Station. Just can't help myself Choo Choooooo Happy Thanksgiving
  • R
    Randall
    Happy Thanksgiving to all. Been a good week for all FCX players if you were on the buy side Lol. Friday Should be more upside stay on board the Copper train. Train will go from steam to electric which is good for Copper. Don't jump off next year Pecan Pie, Blue Belle ice cream Umm Umm Umm so good.
  • J
    Jameson
    I'm reading that copper is at a 7 year high based on LME pricing. I don't know if that's accurate, but it's believable.
  • s
    sp
    I am betting buffet has sold barrick and bought freeport instead. Sell barrick at 27 buy freeport 23 . Net savings of $4 but potential upside to $130
  • R
    Randall
    Street Insider Reported Jefferies put a 35.00 price on FCX. Wow that's a good upgrade.
  • R
    Randall
    23.31 Sell team beating up FCX they are getting there way. Not a lot of buying. Copper on fire 2.40
  • R
    Ramon
    Add more today at open or wait? This is looking like it’s going to sky rocket
  • U
    Ultra
    https://www.ft.com/content/aadf1092-2193-11e5-ab0f-6bb9974f25d0

    Wonder if this article will launch correctly.

    Good read on some of the abuses of Chinese commodity fund traders in the last copper price downturn. Something I suspect Western markets will get a modest repeat of shortly, given how lopsided the CME copper contract is between longs & shorts.....
    Move comes amid sharpest equity fall since 1992
    Move comes amid sharpest equity fall since 1992
    www.ft.com
  • B
    Baby
    11/24 Nice run....to $23 taking profits.... daily, weekly, mthly RSI all over 70.... Vaccine will reopen s. american supply. 2021 brings Ivanhoe online....thats another grasberg of supply. Taking little break. Many other trades.......