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Freeport-McMoRan's Golden Surge: A Deep Dive into Q4 Earnings Freeport-McMoRan (NYSE: NYSE:FCX ) has recently reported a robust performance in its fourth-quarter earnings, surpassing Wall Street estimates and revealing a 10% increase in gold production for the year 2023. This article explores the key highlights from Freeport's financial report, analyzes the factors contributing to its success, and delves into the company's outlook for the future. Strong Financial Performance: Freeport-McMoRan's Q4 net income of $388 million or $0.27 per share exceeded analysts' expectations, showcasing a resilient performance despite challenging market conditions. The company's adjusted net income of $393 million further underlines its financial strength. Revenue Growth and Production Boost: The company reported a revenue of $5.905 billion for the October to December period, marking a notable increase from the previous year. Freeport attributes this growth to a substantial increase in copper production, with 1.095 billion pounds mined in Q4 2023 compared to 1.070 billion pounds in the same quarter of 2022. Gold Production Surge: Freeport's gold production witnessed a remarkable surge, with 573,000 ounces produced in Q4 2023 compared to 472,000 ounces in the same period of 2022. The annual gold production of 1.993 million ounces in 2023 reflects a strategic focus on diversification and capitalizing on the robust gold market. CEO's Optimistic Outlook: Freeport-McMoRan's ( NYSE:FCX ) CEO, Richard Adkerson, expressed optimism about the company's future, emphasizing a focus on operational excellence and investment plans. Adkerson highlighted the team's success in 2023 and outlined strategic initiatives for 2024, with a commitment to enhancing the long-term value of the company's assets. 2024 Projections and Market Impact: The company projects consistent copper production in 2024 and anticipates further growth in gold. Consolidated sales volumes are expected to reach 4.1 billion pounds of copper and 2.0 million ounces of gold. The positive outlook has contributed to a rally in NYSE:FCX stock, with a 5.9% gain and a breach above key moving averages. Cost Management and Capital Expenditure: Freeport-McMoRan remains committed to cost discipline, projecting an average cost of $1.60 per pound of copper in 2024. Additionally, capital expenditures are expected to decrease to $4.6 billion, reflecting prudent financial management and the nearing completion of the Indonesia smelter. Technical Analysis and Investor Sentiment: NYSE:FCX stock's impressive rally, reaching a 5.9% gain, indicates positive investor sentiment. NYSE:FCX is in a potential bullish trend, with the stock surpassing the converged 50- and 200-day moving averages. The emergence of a handle with a buy point at 43.42 further adds to the intrigue for potential investors. Conclusion: Freeport-McMoRan's ( NYSE:FCX ) stellar Q4 performance, driven by increased copper and gold production, sets the stage for a promising 2024. CEO Richard Adkerson's optimistic outlook, coupled with prudent cost management and strategic initiatives, positions the company for sustained growth. As global economic conditions evolve, Freeport-McMoRan's success becomes not only a testament to its operational excellence but also a beacon for investors seeking opportunities in the mining sector.
NYSE:FCXLong
by DEXWireNews
MMM long play3M had a decent earningsreport, however investors were not happy with the lack luster revnue forecast for 2024. Largest selloff since 2019. This opens up a great potential play. Short term fib retracement to .618, Has potential to keep moving to the downside. However some strong support at 93. And a bottom support of 85. Now for the upside potential. Looking at the current trend, it has a upper resistance from 160's for 2024 long term. Sizing in with potential stops at ~93
NYSE:MMMLong
by galactic_ventures
1
Tesla reporting this week! $TSLATesla will report as soon as this Wednesday, Jan. 24, after the market close. Personally, I don't plan any trading activity here before the report. But at the moment the stock is in a technically interesting zone. I see a double technical pattern here - Inv. Head and Shoulders. Based on the structure of the daily chart, the price is now in a potential right shoulder (RSh) zone, which could be a good area to start a position. Meanwhile, the entire daily structure is a right shoulder (WkRsh) for the weekly pattern, which gives the current price zone more strength. Of course, the report could break the technical pattern, but I will be watching and waiting for one of my triggers to occur.
NASDAQ:TSLALong
by ivanistrading
2
Stocks at New All-Time Highs Ahead of Earnings: CATThis Dow component attempted a new all-time high and failed. However, it has ample support from the prior sideways trend after the previous all-time high. NYSE:CAT has been over-speculated as it moved out of its bottom low. The company reports end of January. Watching to see how the stock performs in the next week or so should indicate whether it will be stuck range bound for another couple of quarters or if it will have the fundamentals to support a new high. For now, it has more of the appearance of a range bound sideways pattern developing. Caterpillar Inc. did well during the years of huge real estate and city development in China. Unfortunately, the great industrial revolution of China is long gone, their population in decline due to fewer births and more deaths reducing their billions. Their consumer-based economy has slammed into Market Saturation as their population continues to age at a faster pace than any nation on earth. CAT needs to find another source for its machinery.
NYSE:CAT
by MarthaStokesCMT-TechniTrader
UEC an energy penny stock pops out of ascending channel LONGUEC is a uranium company somewhat independent of the oil, solar and lithium stocks that dominate the energy sector. Nuclear is touted as green and not contributory to climate change with no carbon impact. It pollution or radioactivity is self-contained and isolated with heavy regulatory safeguards All that said, a few days ago analysts at Eight Capital raised the status of UEC to "strong buy" with a price target of $13 or about 75% above current valuation. Such a high upside is uncommon in the energy sector. The 4H chart shows price broke out from an ascending channel of several months duration with a corresponding relative volume of 4x the running mean. The price action is that of a high tight flag patter n invoking the moderately strong probability of more bullish momentum after a consolidation is completed. I see this as a great long swing trade with earnings coming in two months or call options OTM targeting a strike price of $10 for the mid-March expiration. Given the stock price at present such call options would have about $40 premium per contract. Lastly, the ETFs URA and URNM appear to track the price action of UEC fairly well. If a trader prefers diversification or risk moderation of ETFs these two are reasonable alternatives. Uranium trades do not have geopolitical risk to consider as much as oil and gas yet another reason to give this a further look. .
AMEX:UEC
by AwesomeAvani
1
HD: Finally Patterning Out Post-PandemicNYSE:HD benefited greatly from the pandemic lockdown and the numerous stimulus checks that over-stimulated all nations' economies. The stock has now moved above its trading range and has sustained, aka held onto, those gains. This patterns out the excessive revenues and earnings that were inevitably unsustainable for all of the companies that benefited from the brief surge of revenues due to the "over-stimulus checks." This is the Weekly Chart to show that the Year over Year comparatives that harmed HD for a couple of years is now patterned out.
NYSE:HDLong
by MarthaStokesCMT-TechniTrader
$LRCX approaching gap fill area and is a week away from earningsNASDAQ:LRCX 's recent close above the 9 EMA signals bullish potential. Holding steadily above the $763 level could pivot the stock towards $768, aligning with a crucial gap fill area and setting sights on $778. The positive momentum in related stocks like NASDAQ:NVDA , NASDAQ:AMD , and NASDAQ:SMCI may act as a catalyst for NASDAQ:LRCX , especially given its critical role in memory chip production. Watch for possible significant movements around the January 24 earnings, as these developments could impact its trajectory.
NASDAQ:LRCXLong
by RockyFresh340
1
Symmetrical Triangle for a Long positionUSDCAD opened with Lower high and gave a big bearish candle on first day of the week, I was looking at different time frames and saw a symmetrical pattern on the one minute time frame (Using 15 minute to publish, analysis on 1 minute time frame), though I do not recommend using the one minute time frame at the opening but it was a sure bullish move that was coming. Took the trade with a small stop loss and TP at the size of the length of the triangle base, just above the slope of lower high and made a small profit to start the week. Where is USD moving in the coming week, what are the different factors that will effect its move? comment and share your experience.!! Cheers
Long
by KunalGaur10
Apollo Hospitals - Management Quality and Economic MoatNSE:APOLLOHOSP Apollo Hospitals Enterprise Ltd, a prominent healthcare service provider in India, has shown significant management quality and a strong economic moat. Management Quality: Strategic Growth and Diversification: Apollo Hospitals has focused on expanding its services, including elective surgeries and diagnostics. This diversification and expansion into various healthcare segments highlight effective strategic planning. Financial Performance: The company has demonstrated robust financial growth over the years. Notably, there has been a substantial increase in net sales, EBITDA, and PAT (Profit After Tax), indicating a healthy financial status. This growth trajectory reflects strong operational capabilities and a successful business model. Operational Efficiency: The efficient operation of Apollo Hospitals is evident from the significant YoY growth in its Hospital segment and the Pharmacy business. The company has also entered into a 10-year commercial agreement with Amazon India, which is a strategic move to enhance its reach and operational efficiency. Economic Moat: Market Position and Brand Recognition: Apollo Hospitals is well-recognized in the healthcare industry, which contributes to its competitive advantage and customer loyalty. Integrated Business Model: The company's integrated business model, covering a wide range of services from primary to tertiary health requirements, strengthens its position in the healthcare sector. Operational Network: Apollo Hospitals' extensive operational network fuels its business growth, enabling it to serve a broad customer base effectively. Strengths and Weaknesses: Strengths: Strong operational performance and network. Growth initiatives that indicate potential for future expansion and development. Weaknesses: A noted decrease in working capital, which could impact business growth. Challenges such as the dearth of healthcare professionals and stringent industry regulations. In summary, Apollo Hospitals Enterprise Ltd exhibits strong management quality, marked by effective strategic planning, robust financial performance, and efficient operations. The company's economic moat is underpinned by its market position, integrated business model, and extensive operational network. While there are strengths in its operational performance and growth initiatives, the company must address issues related to working capital and navigate the challenges posed by regulatory environments and workforce management
NSE:APOLLOHOSPLong
by amitlall_79
Controlled Sideways Trends Ahead of EarningsThe Giant Banks and Credit Card companies benefit the most from the Federal Reserve Board's overnight interest rate hikes. As the FRB increases its lending rate, it allows big banks and credit companies to increase their interest rates to consumers, small businesses, etc. That usually means higher revenues. NYSE:V is in a sideways trend that is not as consistent as would be ideal ahead of its earnings report in about 3 weeks. However, HFTs are aware of the tendency for credit card companies to prosper during high interest-rate markets. Study the candlestick patterns: Note the quick reversal back down after a higher price level was reached. Note the rebound the same day when price dropped out of the lows of this sideways trend. There is control in this pattern which is typical of Professional trading activity.
NYSE:V
by MarthaStokesCMT-TechniTrader
TRUWORTHS INT (TRU)TRUWORTHS - The current price is now testing the lower trend line within a broadening wedge pattern. Anticipating potential support at the trend line; however, a break below it might signal a significant decline, offering a potential short play. It's worth noting that in the 50 days leading up to the past six earnings release dates, there has been an average upward movement of over 20% following a period of downward price movement. Considering the current testing of the lower trend line, it could serve as support for another upward trend.
JSE:TRU
by MarketMeistersTrading
UnitedHealth Pushes Highs Before EarningsUnitedHealth has consolidated for almost two years, and now some investors may expect its longer-term uptrend to continue. The first pattern on today’s chart is the basing pattern over the course of 2023. Notice the lower lows in the first half, followed by higher lows in the second half. That may suggest buyers have regained control since the summer. Second, the 50-day simple moving average (SMA) had a “golden cross” above the 200-day SMA in September. That can also reflect bullishness over the longer term. Third, UNH recently bounced at its peak from July. Did old resistance become new support? Fourth, the health insurer has remained below its record weekly close of $551.24. But this week could bring a catalyst for a potential breakout because earnings are due on Friday morning. (Notice how the stock jumped following its last two quarterly reports.) TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures or cryptocurrencies); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission (“SEC”) and a futures commission merchant licensed with the Commodity Futures Trading Commission (“CFTC”). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association (“NFA”), and a number of exchanges. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services under federal and state money services business/money-transmitter and similar registrations and licenses. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a member of NFA. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
NYSE:UNH
by TradeStation
Over-speculated Patterns Heading Into Earnings SeasonNYSE:JPM is the last Bank that has been able to hold onto its Dow 30 component status. It is running up on a combination of buybacks and ETF development for Dow 30 index components. The stock is over-speculated heading into the earnings season. Volume Oscillators show the extreme pattern clearly. So even minimal weakness in the earnings report could cause an HFT trigger. It might surprise either way. Some of its growth in 2023 was due to the regional bank debacle when JPM chose certain small banks to target for a silent hostile takeover.
NYSE:JPM
by MarthaStokesCMT-TechniTrader