Why Freeport-McMoRan (FCX) Stock Is Up Today

Freeport (FCX) stock is gaining this afternoon alongside copper prices.
By Rachel Graf ,

NEW YORK (TheStreet) -- Shares of Freeport-McMoRan (FCX) - Get Report are surging 9.31% to $12.73 on heavy trading volume Tuesday afternoon after London copper prices climbed for a third straight day on a strong U.S. jobs report for June.

Three-month copper on the London Metal Exchange rose 0.4% to $4,766 per ton earlier today, Reuters reports.

Additionally, Shanghai Futures Exchange copper advanced 0.8% to 37,100 yuan a ton amid higher expectations for economic stimulus in China.

Freeport is a copper producer based in Phoenix, AZ.

About 42.01 million shares of the company have been traded so far today vs. its average trading volume of roughly 36.81 million shares per day.

Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.

Freeport's weaknesses include its generally high debt management risk, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

You can view the full analysis from the report here: FCX

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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