|Bid||0.00 x 1000|
|Ask||0.00 x 3200|
|Day's range||29.94 - 30.99|
|52-week range||24.80 - 51.99|
|Beta (5Y monthly)||2.00|
|PE ratio (TTM)||9.33|
|Forward dividend & yield||0.60 (2.20%)|
|Ex-dividend date||13 Oct 2022|
|1y target est||N/A|
In the latest trading session, Freeport-McMoRan (FCX) closed at $28.17, marking a +1.11% move from the previous day.
Shares in copper miner Freeport-McMoRan (NYSE: FCX) dropped 5.9% today. When the market worries about global growth prospects, the first thing to get sold off are these commodities mainly because all it takes is a marginal change in demand to negatively impact prices. There's no way to get around the fact that when copper prices fall, Freeport's stock will suffer.
(Bloomberg) -- The price of copper — used in everything from computer chips and toasters to power systems and air conditioners — has fallen by nearly a third since March. Investors are selling on fears that a global recession will stunt demand for a metal that's synonymous with growth and expansion.Most Read from BloombergPutin Calls Up More Troops, Resumes Nuclear Threat Over UkrainePowell Signals More Pain to Come With Fed Sending Rates HigherUkraine Seizes Dozens of Russian Tanks Left by Flee