Freeport-McMoRan stock rises but underperforms rivals
Updated
Updated · MarketWatch · May 8
Freeport-McMoRan stock rises but underperforms rivals
10 articles · Updated · MarketWatch · May 8
Shares gained 1.72% to $61.65 on Friday as the S&P 500 rose 0.84% and the Dow added 0.02%; Newmont climbed 2.66% to $116.51.
The stock finished 13.13% below its 52-week high of $70.97, reached on 20 April, indicating it remains off recent peak levels despite the day's advance.
Trading volume was 12.2 million shares, 5.5 million below its 50-day average of 17.7 million, suggesting lighter-than-usual investor activity during the broader market's positive session.
With insiders selling and operational risks at its key mine, can Freeport-McMoRan truly ride the wave of the copper supercycle?
As the US-China resource war intensifies, will Freeport's massive Indonesian mine become a liability or a strategic prize?