Motley Fool
Why Shares in Copper Miner Freeport-McMoRan Soared Today
Shares in copper miner Freeport-McMoRan (NYSE: FCX) were up by more than 8% by early afternoon today. The results themselves brought few surprises; after all, investors can see where the price of copper is in the market and therefore ascertain the trend in Freeport’s revenue. During the earnings call, CEO Richard Adkerson talked of the physical copper market being “strikingly tight globally right now” and customers “fighting” to get hold of products.