Freeport-McMoRan stock nudges higher into earnings as copper steadies — what to watch Thursday
Freeport-McMoRan shares closed up 0.9% at $60.58 Wednesday ahead of its quarterly earnings report due before Thursday’s open. Copper prices rose 0.4% to $12,796 a ton on the LME, but the Yangshan premium fell to its lowest in 18 months, signaling weak Chinese demand. Analysts expect Freeport to report EPS of $0.32 on $5.35 billion in revenue.