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How Are Analysts Rating Copper Producers This Earnings Season?

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Jan. 24 2017, Updated 7:39 a.m. ET

Analysts’ ratings

We are now in the 4Q16 earnings season, and Freeport-McMoRan (FCX), the world’s second-largest copper mining company, is expected to release its 4Q16 earnings on January 25. Teck Resources’ (TCK) 4Q16 financial results are scheduled for February 15.

Glencore (GLNCY) is scheduled to release its fiscal 2016 production report on February 2, followed by its preliminary 2016 annual results on February 23. Turquoise Hill Resources (TRQ) (RIO) has already released its 4Q16 production report.

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4Q16 earnings season

Copper producers’ 4Q16 earnings results come as investors rediscover their love for metals and mining stocks (SCCO). Trump’s presidency has helped revive market sentiment and boosted metal prices.

Copper was having a hard time holding on to the price level of $5,000 per metric ton before the US election, and it briefly topped $6,000 per metric ton after the election. Although copper has since that time lost some of its gains, it has still managed to hold onto most of its overall gains.

Series overview

In this series, we’ll look at analyst recommendations for different copper companies in an effort to understand how Wall Street sees copper companies before their 4Q16 earnings releases. We should remember that in the medium to long term, earnings are a key driver of stock prices, and so we’ll also be looking at leading copper producers’ 4Q16 earnings estimates.

We’ll begin by examining analyst recommendations and target prices for Freeport-McMoRan.

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