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However, FCX’s shares have retreated 5.8% over the past months and 8.2% over the past three months. The recent cancellation of FCX’s plans to build a new copper smelter worth $2.8 billion with Tsingshan Holding Group in Indonesia has made investors nervous about the stock’s prospects.
Although higher copper prices and a substantial surge in sales volume helped the company generate strong topline growth, volatility in both gold and copper prices could make things uncertain for the company. Since FCX’s revenues come mainly from gold and copper, a decline in commodity prices could cause its shares to retreat further.
