FCX Price Prediction Next Week
Technical Analysis: FCX has shown a bearish trend in recent trading sessions, with the stock dropping significantly from $38.61 to $36.97, representing a -5.08% decline . The stock is currently testing key support levels.
News Impact:
- Recent news indicates Indonesia has allowed Freeport McMoRan to resume copper concentrate exports, but with higher export duties due to smelter repair delays. This mixed development could create short-term price pressure.
- The company has approximately 400,000 tons of copper concentrate in inventory and is seeking an export quota of 1.3 million tons this year.
Analyst Sentiment:
- RBC Capital maintains a Hold rating with a $55 price target
- Recent options activity shows a bullish bias, with 75% of large trades being bullish
- The stock's RSI recently hit 28.3, indicating oversold conditions
Price Prediction for Next Week: Based on technical analysis and news sentiment:
- Support level: $36.50
- Resistance level: $38.80
- Target price: $37.80
The stock is likely to experience a technical bounce from oversold conditions, but faces headwinds from the Indonesian export situation. The predicted trading range for next week is $36.50-$38.80, with a target price of $37.80.
Trading Recommendation: BUY at current levels ($36.97) with a stop loss at $36.20. The oversold conditions and potential technical bounce provide a favorable risk-reward setup for a short-term trade.
FCX Similar Chart Price Prediction
The price of FCX is predicted to go up -10.91%, based on the high correlation periods with JBL. The similarity of these two price pattern on the periods is 94.26%.
FCX
JBL
Down: -10.91%Similarity: 94.26%
FCX Revenue Forecast
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FCX Analyst's Forecast
Chris LaFemina
Jefferies
Hold → Strong Buy
2025-02-27
Price Target
$40 → $48
Upside
+28.27%
Jefferies upgraded Freeport-McMoRan to Buy from Hold with a price target of $48, up from $40. The firm had downgraded the stock just last month due to risks in Indonesia, its cautious view on copper, and Freeport's lack of free cash flow in the near term, expecting shares to be range-bound this year before breaking out in 2026 as copper fundamentals finally begin to improve, the analyst tells investors in a research note. Jefferies adds however that it is upgrading Freeport-McMoRan back to Buy due to encouraging recent updates regarding Indonesia as well as the potential significant benefit to the company from tariffs on U.S. copper imports.
Orest Wowkodaw
Scotiabank
Hold
2025-01-24
Price Target
$48 → $45
Upside
+19.02%
Katja Jancic
BMO Capital
Buy
2025-01-24
Price Target
$54 → $50
Upside
+32.24%
