#7 - Freeport-McMoRan (NYSE:FCX)
Mining stocks are not typically known as strong growth candidates. However, demand forecasts for gold and copper are enough to put Freeport-McMoRan Inc. (NYSE: FCX) on a list of growth stocks to buy for massive gains.
The company is one of the world’s leading miners of gold and copper, both of which are expected to show strong gains in 2025 and beyond. Gold has been a strong performer in 2024, but it’s copper that is likely to drive the company’s growth for the next decade. Simply put, demand for data centers and electric vehicles and the need to update an aging electrical grid are all catalysts for copper demand.
FCX stock has delivered a total return of 89.63% in the last 10 years. But the company is expecting to grow earnings at an average of around 29% in the next three years. That growth is not yet priced into the stock, and analysts are forecasting strong stock price growth for 2025—and that growth is likely to be just the start of a multi-year trend.
About Freeport-McMoRan
Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.
Read More - Current Price
- $38.77
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 8 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $52.96 (36.6% Upside)
Picking stocks to hold for the next 10 years may seem counterintuitive. After all, investors frequently hear that past performance isn't a guarantee of future results. Fortunately, we can look back on these companies' performance to make educated predictions about their future growth.
Taking this long-term view does two things. First, it allows you to take your emotions out of your investment decisions—you don't have to get caught up in the daily ups and downs of the market. And second, it allows you to benefit from time in the market as opposed to trying to time the market.
This list of stocks also prioritizes finding the best stocks and forgetting the rest, a strategy that helps you mitigate risk.
One or more of these stocks are appropriate for any portfolio. However, if you're not familiar with these companies and prefer to “buy what you know," MarketBeat has several tools to help you find stocks by sector. This can help you quickly filter the stock market for the companies that fit your investment philosophy and risk tolerance.
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