Freeport-McMoRan (FCX) stock slides as copper slips on swelling inventories
Freeport-McMoRan shares fell 3.8% to $59.48 Thursday as copper prices dropped and inventories rose on major exchanges. The Global X Copper Miners ETF slid 5.4%. Analysts cited ample supply and weak near-term demand, with traders awaiting next week’s U.S. jobs report and new data on physical copper demand.