After rising more than 3x since its March lows of this year, at the current price of $16 per share, we believe Freeport-McMoRan stock (NYSE: FCX) has reached its near-term potential. FCX stock has rallied from $5 to $16 off its recent bottom compared to the S&P 500 which increased 52% from its March lows. The stock was able to beat the broader market in the last 6 months as gold prices have shot up significantly and remained elevated during the ongoing pandemic, while copper prices, which had dropped after the outbreak of coronavirus, have also recovered at a significant pace with stimulus measures announced by various economies. However, with gold prices being volatile recently and, in fact, having declined over last few weeks, FCX stock could drop close to 10% from its current level. Our dashboard What Factors Drove -11% Change In Freeport Stock Between 2017 And Now? provides