Why Did Freeport-McMoRan Plunge 5.17%? Copper Prices Drop

On April 30, 2025, Freeport-McMoRan's stock price experienced a significant drop of 5.17% in pre-market trading, reflecting a notable shift in investor sentiment.

Freeport-McMoRan recently reported a 5.61% increase in its share price over the past week, coinciding with the release of its first-quarter earnings. This period also saw the company provide an operational update and declare quarterly cash dividends on common stock, indicating a focus on shareholder value.

The decline in Freeport-McMoRan's stock price can be attributed to the drop in copper prices, a key commodity for the company. This price fluctuation has led to a 4.6% decrease in premarket trading, highlighting the sensitivity of the stock to commodity market movements.

Additionally, Aquatic Capital Management LLC reduced its position in Freeport-McMoRan by 37.1% in the fourth quarter, which may have contributed to the recent stock price volatility. This move by a significant investor could signal concerns about the company's future performance or broader market trends.