Freeport Bearish Pattern Sets Targets Below $30

Despite the March 2020 Covid selloff, Freeport-McMoRan is trading significantly higher since we shared our last bullish update on it in December, 2019. As the price of copper soared, FCX soared with it to as high as $46.10 in May, 2021. However, no trend lasts forever and Freeport ‘s rally was no exception. The stock…

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2020 to Bring Long-Awaited Relief to Freeport Investors

It’s been a rough couple of years for U.S.-based copper miner Freeport-McMoran. The stock reached $20.25 a share in the first month of 2018. Now, in the last month of 2019, FCX is hovering around $12.10. Despite the significant recovery from as low as $8.43 in October, the stock is still down 40% since January…

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Freeport McMoran Suddenly Loved by Everyone

Almost nine months ago, on March 31st, the share of leading copper miner Freeport McMoran was hovering around $13.30. The company’s debt load was troubling, an extended strike at their Grasberg mine was disrupting the working process and on top of that, the Indonesian government said the country wants to renegotiate the terms of its…

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Copper Facing a Correction Within Uptrend

The price of copper climbed to 2.9154 yesterday as it continues the impressive recovery from the low at 1.9322 in January, 2016. Copper prices are vitally important not only to mining companies like Freeport-McMoran, but to the world economy, as well. It is true the metal has gained over 50% in value in just a…

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Freeport vs Indonesia: The Elliott Wave Outlook

It looks like Freeport is going to end up as a winner in the Grasberg saga Exports from Indonesia’s Grasberg copper mine have been halted for 10 weeks now. As a result, shares of Freeport-McMoran, one of the world’s largest copper producers and majority stake owner of the mine, recently declined from $17.06 in January to $11.92…

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