Tag #Materials Sector

What are the primary factors driving Freeport-McMoRan's recent stock underperformance, and what are the immediate implications for the company?

Freeport-McMoRan's (FCX) stock price has dropped 25% in the last three months, mirroring declines in peer companies due to weakening copper demand and global economic slowdown concerns. This decline is coupled with a 7% drop in copper sales in Q3 2024 compared to the previous year, despite a 17% rise in overall revenue to $6.7 billion.