Freeport-McMoRan's Copper Sales Fall Sparks Mixed Analyst Reactions, Long-Term Upside Remains In Play
1. FCX revenue missed expectations at $5.72 billion; EPS of $0.31 beat estimates. 2. Analysts revised price targets: JP Morgan at $48, Raymond James at $49. 3. First-quarter sales expected to be impacted by paused shipments and maintenance. 4. Potential $500 million/year savings if copper qualifies for 45X tax credits. 5. Guidance cut for FY25 copper suggests some losses may not be recouped.