Freeport-McMoRan stock rises 5.57% but underperforms competitors
Updated
Updated · MarketWatch · May 6
Freeport-McMoRan stock rises 5.57% but underperforms competitors
8 articles · Updated · MarketWatch · May 6
The shares closed at $60.89 on Wednesday, marking a second straight daily gain as the S&P 500 rose 1.46% and the Dow added 1.24%.
Despite the advance, Freeport-McMoRan lagged Newmont, whose stock climbed 5.59% to $115.10 in the same broadly positive market session.
Freeport-McMoRan ended 14.20% below its 52-week high of $70.97 reached on April 20, while trading volume of 17.5 million was slightly below its 50-day average.
Analysts see major upside for Freeport, but why are some top banks quietly issuing downgrades?
Can Freeport-McMoRan fix its key mine's issues to capitalize on the historic copper boom?
With gold and copper prices soaring, is this mining giant's stock a safe bet despite its production woes?