Cboe Data Shows Freeport McMoRan Shares Up 2.92%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
0mins
Cboe data suggests bullish flow in Freeport McMoRan (FCX), with shares up $1.86, or 2.92%, near $65.49. Options volume roughly in line with average with 66k contracts traded and calls leading puts for a put/call ratio of 0.72, compared to a typical level near 0.49. Implied volatility (IV30) is higher by 0.1 points near 52.3,in the top quartile of the past year, suggesting an expected daily move of $2.16. Put-call skew flattened, suggesting a modestly bullish tone.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy FCX?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on FCX
Wall Street analysts forecast FCX stock price to fall
15 Analyst Rating
13 Buy
2 Hold
0 Sell
Strong Buy
Current: 67.040
Low
46.00
Averages
58.79
High
70.00
Current: 67.040
Low
46.00
Averages
58.79
High
70.00
About FCX
Freeport-McMoRan Inc. is a metals company. The Company operates assets with reserves of copper, gold and molybdenum. Its portfolio of assets includes the Grasberg minerals district in Indonesia, which is a copper and gold deposit; and operations in the United States, including the large-scale Morenci minerals district in North America and the Cerro Verde operation in South America. Its segments include Cerro Verde copper mine, Indonesia operations and United States Rod & Refining operations. It produces copper concentrate, cathode and continuous cast copper rod. Its copper ore from mines is processed by smelting and refining or by solution extraction and electrowinning (SX/EW). It produces copper cathodes at an electrolytic refinery located in El Paso, Texas. The SX/EW cathode is produced from the Morenci, Bagdad, Safford, Sierrita, Miami, Chino and Tyrone mines in the United States, and from the Cerro Verde and El Abra mines in South America.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
First Quantum Minerals Shares Rise 5% Amid Audit Report Anticipation
- Stock Price Surge: First Quantum Minerals (FQVLF) shares rose 5% to $30.17 in the last trading session, with trading volume exceeding average levels, indicating market optimism about its future prospects.
- Audit Report Impact: The upcoming release of the comprehensive audit report for the Cobre Panamá mine by Panama has heightened market expectations, as the mine boasts 3 billion tons of proven and probable mineral reserves, making it one of the largest copper mines opened globally in the past decade.
- Earnings Expectation Changes: The company is expected to report quarterly earnings of $0.08 per share, reflecting a year-over-year increase of 300%, yet the consensus EPS estimate has been revised down by 43.8% over the last 30 days, which could negatively impact stock price appreciation.
- Industry Comparison: Freeport-McMoRan (FCX), another player in the non-ferrous mining sector, also saw a 3.5% increase in its stock price during the same trading session, indicating overall market activity in the sector, with FCX's EPS estimates showing a positive trend, reflecting potential growth in the industry.
See More
US Stocks Under Pressure as Oil Prices Surge
- Market Pressure Intensifies: The S&P 500 index fell 0.14%, the Dow Jones Industrial Average dropped 0.27%, and the Nasdaq 100 index decreased 0.34% as crude oil prices surged over 2% following fresh US attacks on Iran, indicating heightened sensitivity to geopolitical risks.
- Economic Data Impact: The April core PCE price index rose 3.3% year-on-year, meeting expectations, but the unexpected 1.1% decline in April capital goods new orders signals potential economic slowdown, which may heighten investor concerns about future growth.
- Rising Unemployment Claims: Initial jobless claims in the US increased by 5,000 to 215,000, exceeding expectations of 211,000, reflecting a weakening labor market that could prompt the Fed to adopt a more cautious stance in future policy decisions.
- Earnings Season Insights: As of now, 83% of the 479 S&P 500 companies that reported earnings exceeded expectations, with Q1 earnings projected to rise 12% year-on-year; however, excluding the tech sector, growth is only expected at 3%, highlighting a divergence in overall profitability.
See More
IYM ETF 52-Week Price Range Analysis
- Price Range Analysis: The IYM ETF has a 52-week low of $133.50 and a high of $189.805, with the latest trade at $183.51, indicating stability amidst high market volatility.
- Technical Analysis Tool: Comparing the current share price to the 200-day moving average provides investors with valuable insights for technical analysis, aiding in market trend assessment and potential buying opportunities.
- ETF Trading Mechanism: Exchange-traded funds (ETFs) trade like stocks, where investors buy and sell 'units' that can be created or destroyed based on demand, impacting liquidity and market performance.
- Inflows and Outflows Monitoring: Weekly monitoring of changes in shares outstanding helps identify ETFs experiencing significant inflows (new units created) or outflows (old units destroyed), assessing their impact on underlying assets.
See More
Salazar Resources Identifies Copper-Gold Porphyry System at Monja Project
- Core Discovery: Salazar Resources has defined a 2 km × 1 km mineralized core at its 100%-owned Monja Project, with the best rock chip sample returning 4.77% Cu, 1.12 g/t Au, and 19.5 g/t Ag, indicating significant mineral potential that could drive future development plans.
- Strategic Importance: The Monja Project has been identified as a cornerstone asset for the company in Ecuador, with plans to focus exploration efforts here to assess the extent and continuity of mineralization, thereby enhancing its position in a competitive copper market.
- Portfolio Consolidation: Salazar successfully acquired Ecuadorian exploration assets from Silvercorp Metals, now holding 100% ownership of the Santiago, Pijilí, and Tarqui-Quimi projects, further consolidating its copper-gold exploration portfolio and strengthening its competitive edge in the region.
- Market Context: With global copper demand continuing to rise, Salazar Resources is positioned at the forefront of the copper exploration value chain, benefiting from rising copper prices and market tightness, which are expected to drive future capital operations and project development.
See More
Salazar Resources Identifies New Copper-Gold Discovery at Monja Project
- Core Mineralization Defined: Salazar Resources has identified a 2 km × 1 km mineralized core at its 100% owned Monja Project, indicating significant potential for copper exploration in the region and laying a foundation for future development.
- Promising Sample Results: The best rock chip sample returned 4.77% Cu, 1.12 g/t Au, and 19.5 g/t Ag, highlighting the project's substantial mineralization potential, which may attract increased investor interest.
- Strategic Asset Consolidation: Salazar successfully acquired Ecuadorian exploration assets from Silvercorp Metals, further consolidating its copper-gold exploration portfolio in the region, demonstrating a proactive strategy in resource integration.
- Favorable Market Environment: With global copper demand continuing to rise, Salazar's discovery at the Monja Project positions the company favorably in a competitive market, potentially enhancing its market share in the copper mining industry.
See More
Barclays Initiates Coverage of North American Metals and Mining Sector
- Sector Recovery Drivers: Barclays analysts highlight that the North American metals and mining sector is experiencing a resurgence, primarily driven by significant investments in transformative technologies and the rise of resource nationalism, with copper, rare earths, and uranium as key beneficiaries.
- New Economy Growth Drivers: Unlike previous commodity investment cycles largely driven by 'old economy' infrastructure buildout, Barclays sees 'new economy' markets driving incremental growth through advancements in AI, robotics, and the electrification of the economy, with supply likely unable to keep pace with demand.
- Optimistic Copper Outlook: Barclays is constructive on copper, expecting demand to outstrip supply by the end of the decade, driven by growth in new end markets such as grids, renewables, and electric vehicles, as well as ongoing capex for AI infrastructure.
- Rare Earth Market Opportunities: In rare earths, Barclays anticipates significant demand growth from REO magnets to surpass domestic supply, with increased interest in alternative sources as the world shifts away from reliance on China, positioning MP Materials as a preferred stock in this sector.
See More
First Quantum Minerals Shares Rise 5% Amid Audit Report Anticipation
- Stock Price Surge: First Quantum Minerals (FQVLF) shares rose 5% to $30.17 in the last trading session, with trading volume exceeding average levels, indicating market optimism about its future prospects.
- Audit Report Impact: The upcoming release of the comprehensive audit report for the Cobre Panamá mine by Panama has heightened market expectations, as the mine boasts 3 billion tons of proven and probable mineral reserves, making it one of the largest copper mines opened globally in the past decade.
- Earnings Expectation Changes: The company is expected to report quarterly earnings of $0.08 per share, reflecting a year-over-year increase of 300%, yet the consensus EPS estimate has been revised down by 43.8% over the last 30 days, which could negatively impact stock price appreciation.
- Industry Comparison: Freeport-McMoRan (FCX), another player in the non-ferrous mining sector, also saw a 3.5% increase in its stock price during the same trading session, indicating overall market activity in the sector, with FCX's EPS estimates showing a positive trend, reflecting potential growth in the industry.
See More
US Stocks Under Pressure as Oil Prices Surge
- Market Pressure Intensifies: The S&P 500 index fell 0.14%, the Dow Jones Industrial Average dropped 0.27%, and the Nasdaq 100 index decreased 0.34% as crude oil prices surged over 2% following fresh US attacks on Iran, indicating heightened sensitivity to geopolitical risks.
- Economic Data Impact: The April core PCE price index rose 3.3% year-on-year, meeting expectations, but the unexpected 1.1% decline in April capital goods new orders signals potential economic slowdown, which may heighten investor concerns about future growth.
- Rising Unemployment Claims: Initial jobless claims in the US increased by 5,000 to 215,000, exceeding expectations of 211,000, reflecting a weakening labor market that could prompt the Fed to adopt a more cautious stance in future policy decisions.
- Earnings Season Insights: As of now, 83% of the 479 S&P 500 companies that reported earnings exceeded expectations, with Q1 earnings projected to rise 12% year-on-year; however, excluding the tech sector, growth is only expected at 3%, highlighting a divergence in overall profitability.
See More
IYM ETF 52-Week Price Range Analysis
- Price Range Analysis: The IYM ETF has a 52-week low of $133.50 and a high of $189.805, with the latest trade at $183.51, indicating stability amidst high market volatility.
- Technical Analysis Tool: Comparing the current share price to the 200-day moving average provides investors with valuable insights for technical analysis, aiding in market trend assessment and potential buying opportunities.
- ETF Trading Mechanism: Exchange-traded funds (ETFs) trade like stocks, where investors buy and sell 'units' that can be created or destroyed based on demand, impacting liquidity and market performance.
- Inflows and Outflows Monitoring: Weekly monitoring of changes in shares outstanding helps identify ETFs experiencing significant inflows (new units created) or outflows (old units destroyed), assessing their impact on underlying assets.
See More
Salazar Resources Identifies Copper-Gold Porphyry System at Monja Project
- Core Discovery: Salazar Resources has defined a 2 km × 1 km mineralized core at its 100%-owned Monja Project, with the best rock chip sample returning 4.77% Cu, 1.12 g/t Au, and 19.5 g/t Ag, indicating significant mineral potential that could drive future development plans.
- Strategic Importance: The Monja Project has been identified as a cornerstone asset for the company in Ecuador, with plans to focus exploration efforts here to assess the extent and continuity of mineralization, thereby enhancing its position in a competitive copper market.
- Portfolio Consolidation: Salazar successfully acquired Ecuadorian exploration assets from Silvercorp Metals, now holding 100% ownership of the Santiago, Pijilí, and Tarqui-Quimi projects, further consolidating its copper-gold exploration portfolio and strengthening its competitive edge in the region.
- Market Context: With global copper demand continuing to rise, Salazar Resources is positioned at the forefront of the copper exploration value chain, benefiting from rising copper prices and market tightness, which are expected to drive future capital operations and project development.
See More
Salazar Resources Identifies New Copper-Gold Discovery at Monja Project
- Core Mineralization Defined: Salazar Resources has identified a 2 km × 1 km mineralized core at its 100% owned Monja Project, indicating significant potential for copper exploration in the region and laying a foundation for future development.
- Promising Sample Results: The best rock chip sample returned 4.77% Cu, 1.12 g/t Au, and 19.5 g/t Ag, highlighting the project's substantial mineralization potential, which may attract increased investor interest.
- Strategic Asset Consolidation: Salazar successfully acquired Ecuadorian exploration assets from Silvercorp Metals, further consolidating its copper-gold exploration portfolio in the region, demonstrating a proactive strategy in resource integration.
- Favorable Market Environment: With global copper demand continuing to rise, Salazar's discovery at the Monja Project positions the company favorably in a competitive market, potentially enhancing its market share in the copper mining industry.
See More
Barclays Initiates Coverage of North American Metals and Mining Sector
- Sector Recovery Drivers: Barclays analysts highlight that the North American metals and mining sector is experiencing a resurgence, primarily driven by significant investments in transformative technologies and the rise of resource nationalism, with copper, rare earths, and uranium as key beneficiaries.
- New Economy Growth Drivers: Unlike previous commodity investment cycles largely driven by 'old economy' infrastructure buildout, Barclays sees 'new economy' markets driving incremental growth through advancements in AI, robotics, and the electrification of the economy, with supply likely unable to keep pace with demand.
- Optimistic Copper Outlook: Barclays is constructive on copper, expecting demand to outstrip supply by the end of the decade, driven by growth in new end markets such as grids, renewables, and electric vehicles, as well as ongoing capex for AI infrastructure.
- Rare Earth Market Opportunities: In rare earths, Barclays anticipates significant demand growth from REO magnets to surpass domestic supply, with increased interest in alternative sources as the world shifts away from reliance on China, positioning MP Materials as a preferred stock in this sector.
See More
