Freeport-McMoRan

Freeport-McMoran shares gained about 7.4% intraday after the three-month copper future on the LME hit a new record high at $14,694/tonne. Drivers included speculative buying, LME inventories that have fallen roughly 40% since the end of May, and expectations of US tariffs on refined copper that would redirect supplies into US warehouses. Freeport-McMoran’s business model benefits strongly from the copper price; management estimates that a price increase of 10 cents would boost annual EBITDA by around $390 million. Buy recommendations from major banks supported the rally, which was industry-wide and pushed Freeport-McMoran close to its 52-week high; the stock is up about 44% year-to-date. » Más en de.investing.com

Freeport-McMoRan shares are up ~44% YTD to about $73, driven largely by a sharp rise in copper prices that has grouped major producers into a single commodity trade. Management sensitivity shows each $0.10/lb move in copper adds roughly $390 million in EBITDA, and a move toward $7/lb copper would, combined with the high-end 2027 EPS estimate and peer multiples, put FCX near $100. Key enablers are a sustained copper price, continued Grasberg production ramp and cost discipline, plus execution on buybacks, leach expansion and the Baghdad project; the next earnings report will test whether recent volume and cost improvements persist. » Más en finance.yahoo.com

The IEA forecasts an additional demand of about 7 million tonnes of copper by 2040 and sees a supply gap through 2035. Barclays rates Freeport-McMoRan as a top pick in the metals and mining sector and gives a price target of $82. As the largest US copper producer with large deposits, Freeport stands to benefit and expects nearly 100% utilization of the Grasberg mine by the end of 2027. » Más en finanzen.net