Why Shares in Freeport-McMoRan Soared in December
Shares in copper miner Freeport-McMoRan (NYSE: FCX) rose 14.1% in December, according to data provided by S&P Global Market Intelligence. The move comes as a consequence of two related factors.
First, the price of copper moved higher again in December. After hitting a low of $3.55 per pound in October, the price moved higher through November and then December, hitting a peak of $3.93, and at the time of writing, it stands at $3.85.
While it's never a good idea to get too wrapped up in short-term price movements, the reality is Freeport-McMoRan's earnings and cash flow are highly sensitive to movements in the price of copper.
Source Fool.com
Freeport-McMoRan Inc. Stock
€47.50
1.330%
Freeport-McMoRan Inc. is currently one of the favorites of our community with 13 Buy predictions and no Sell predictions.
As a result the target price of 50 € shows a slightly positive potential of 5.26% compared to the current price of 47.5 € for Freeport-McMoRan Inc..
