Subscribe toTue, 26 Jan 2021 17:09:44 GMT
Source: Dukascopy Bank SA
Since Tuesday's US market open, January 26, Freeport-McMoRan's stocks have been depreciating actively. At the time of publication the stocks have already lost 9.06%.
It is likely that the decline occurred as the US top mining company trimmed 2021 production guidance.
However, note that the company posted the fourth-quarter earnings data, which was better-than-expected. Also, the copper and gold miner's profit was in line with the expectations.
In addition, note that the stock price has been declining since it hit a record high on January 19. Since that day, the stock price had declined by 17.22% or 5.58 USD.
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