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TRQ - Freeport-McMoRan Is A Speculative Buy At Current Levels
Turquoise Hill Resources Ltd.
Freeport-McMoRan (FCX) shares have recently been under pressure due to trade war and recession fears. As a result, the stock is down to multiyear lows. In fact, Freeport-McMoRan shares haven't been trading this low since 2015-16 when the stock plummeted due to bankruptcy fears. The situation is completely different now, and I think that the stock is set up for a speculative upside trade ahead of the earnings release, which is scheduled for Oct. 23.
Copper prices are currently at rather low levels, which is not surprising given all the negative headlines regarding