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Posted by
Two Blokes Jul 28 -
Filed in
Stock
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Freeport-McMoRan delivered a strong Q2 earnings beat, but results fell short of the blowout I expected, given extremely bullish copper and gold fundamentals. Despite favorable catalysts like 50% copper tariffs and a big increase in sequential gold sales, FCX remains stuck in the $30-$50 trading range it's been in for four years. Sales guidance for Q3 is flat on copper and significantly weaker on gold and moly, raising concerns about near-term growth.
