Yahoo Finance

Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona. It sold around 1.2 million metric tons of copper (its share) in 2024, making it the one of the world’s largest copper miners by volume. It also sold about 900,000 ounces of gold, mostly from Grasberg, and 70 million pounds of molybdenum. It had about 25 years of copper reserves at end December 2024. We expect it to sell similar amounts of copper midcycle in 2029, though we expect gold volumes to decline to about 700,000 ounces then due to falling production at Grasberg.

Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona. It sold around 1.2 million metric tons of copper (its share) in 2024, making it the one of the world’s largest copper miners by volume. It also sold about 900,000 ounces of gold, mostly from Grasberg, and 70 million pounds of molybdenum. It had about 25 years of copper reserves at end December 2024. We expect it to sell similar amounts of copper midcycle in 2029, though we expect gold volumes to decline to about 700,000 ounces then due to falling production at Grasberg.

Our short- to intermediate-term technical scorecard remains mostly bullish for the major indices. For the S&P 500 (SPX), the five-day/13-day and eight-day/21-day exponential moving average (EMA) crossovers are bullish; the Vortex Indicator and the 21-day rate-of-change (ROC) are in bullish territory; and the Chande Trend Meter (CTM) is improving, but only slightly positive. Daily momentum is still bullish and there was no chart damage during the recent pullback. Some market breadth measures for the SPX are neutral or just slightly positive. Some 59% of stocks in the index are above their 200-day average, while the bullish percent index is only 55%. For the S&P 100 (OEX), 66% of stocks are above their 200-day average; for the Nasdaq 100, the reading is 62%. All of these measures have been in downtrends since late September, and we would like to see them improve to give us more confidence as we move deeper into 2025. So far, the stock market has shaken off a lot of troubling news -- but as evidenced by the price action on Friday, concerns remain and can reemerge quickly. The DeepSeek AI issue seems (seems) to be old news, but the impact of tariffs is an ongoing debate. In a bull market, stocks typically deal with difficult news, digest it, and move higher. The major indices remain in sideways consolidations, with the key intraday levels and range for the SPX between 5,773 and 6,128. For the Nasdaq, the range is 18,832 to 20,205. For the QQQ, it is 500 to 538. A strong move outside these ranges could set the stage for the next intermediate-term trend. (Mark Arbeter, CMT)

Freeport-McMoRan is a leading international mining company based in Phoenix. It operates geographically diverse assets with significant proven and probable reserves of copper, gold, and molybdenum. The company's portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world's largest copper and gold deposits; the Morenci minerals district in North America; and the Cerro Verde and El Abra mines in South America. The company has approximately 27,200 employees. FCX shares are a component of the S&P 500.