12.65 -0.03 (-0.24%)
After hours: 7:54PM EDT
|Bid||12.63 x 21500|
|Ask||12.65 x 27000|
|Day's Range||12.63 - 13.04|
|52 Week Range||9.60 - 19.70|
|Beta (3Y Monthly)||1.86|
|PE Ratio (TTM)||7.12|
|Earnings Date||Apr 22, 2019 - Apr 26, 2019|
|Forward Dividend & Yield||0.20 (1.62%)|
|1y Target Est||14.29|
At Rulo, Nebraska, the Missouri was forecast to crest within 6 inches (152 millimeters) of its record height set in June 2011, the National Weather Service said. Further downstream in St. Joseph, Missouri, it’s expected to reach within a foot of its all-time high.
Freeport-McMoRan Comes under Pressure amid China ConcernsFreeport-McMoRanFreeport-McMoRan (FCX), the leading US-based copper miner, fell 2.7% yesterday. This fall took its March losses to 4.5%. However, the stock is still up 20% year-to-date.
Southern Copper Corp, one of the world's biggest copper producers, is considering an investment in a lithium project in Mexico that has also attracted interest from a Chinese firm, the company's chief executive told Reuters on Wednesday. Junior miner Bacanora Lithium Plc, said earlier this month that it owned 10 lithium concessions in Sonora and was focused on securing funding this year to start production in 2021. Bacanora did not respond to requests for comment outside of working hours in London.
Freeport-McMoRan Inc NYSE:FCXView full report here! Summary * Perception of the company's creditworthiness is neutral but weakening * Bearish sentiment is low * Economic output in this company's sector is contracting Bearish sentimentShort interest | PositiveShort interest is low for FCX with fewer than 5% of shares on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | NeutralETF activity is neutral. ETFs that hold FCX had net inflows of $2.35 billion over the last one-month. While these are not among the highest inflows of the last year, the rate of inflow is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managersâ€™ Index (PMI) data, output in the Basic Materialsis falling. The rate of decline is significant relative to the trend shown over the past year. Credit worthinessCredit default swap | NeutralThe current level displays a neutral indicator with a weakening bias over the past 1-month. Although FCX credit default swap spreads are rising, indicating the market's more negative perception of the company's credit worthiness, they are still comfortably within the range of the last three years.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
China’s February Trade Data Compounded Slowdown Fears(Continued from Prior Part)China’s February copper importsPreviously in this series, we discussed China’s February steel and aluminum exports. However, copper is a different story. China
The Indonesian government has approved one-year export allowances for copper concentrate for miners PT Freeport Indonesia and PT Amman Mineral Nusa Tenggara, officials from the Ministry of Energy and Mineral Resources said on Friday. Freeport will be given an allowance of 198,282 wet tonnes of copper concentrate, while Amman will get 336,100 wet tonnes, said Yunus Saifulhak, director of minerals at the energy and mining ministry. Indonesia's Ministry of Trade will issue the export permits according to the recommendation from the mining ministry.
How Analysts See Copper Miners as Prices Stabilize(Continued from Prior Part)First Quantum First Quantum Minerals (FM) has risen 44% this year based on its closing prices on February 26. Freeport-McMoRan (FCX) and Southern Copper (SCCO) have risen
Today we'll evaluate Freeport-McMoRan Inc. (NYSE:FCX) to determine whether it could have potential as an investment idea. To be precise, we'll consider its Return On Capital Employed (ROCE), as thatRead More...
How Analysts See Copper Miners as Prices Stabilize(Continued from Prior Part)Southern Copper Southern Copper (SCCO) has risen 22.7% year-to-date based on its closing prices on February 26. After a reasonably strong run in 2019, analysts don’t
How Analysts See Copper Miners as Prices Stabilize(Continued from Prior Part)Strong rallyFreeport-McMoRan (FCX) has been strong this year amid improved copper market sentiments. The stock has risen 28.4% year-to-date based on its closing prices on
How Analysts See Copper Miners as Prices StabilizeCopper minersThe metals and mining space has seen a lot of turbulence over the last five years. In 2015, China’s slowdown concerns spooked commodity investors. The sell-off continued in the first
NEW YORK, Feb. 28, 2019 -- In new independent research reports released early this morning, Market Source Research released its latest key findings for all current investors,.
Moody's Investors Service ("Moody's") upgraded Freeport-McMoRan Inc's (FCX) Corporate Family Rating (CFR) and Probability of Default rating to Ba1 and Ba1-PD respectively from Ba2 and Ba2-PD respectively. The senior unsecured ratings of FCX were upgraded to Ba1 from Ba2. The senior unsecured ratings of Freeport Minerals Corporation (FMC), which have a downstream guarantee from FCX, were upgraded to Baa2 from Baa3.
After last month's deadly tailings dam disaster at a Vale SA facility in Brazil, Freeport-McMoRan Inc Chief Executive Richard Adkerson sent a memo to his 29,000 employees telling them to immediately report any safety concerns about the scores of dams his company operates. The disaster, which killed more than 300, has sparked a push to set global standards for the construction and inspection of tailings dams, which store the muddy detritus of the mining process, as well as emergency preparations. Freeport, the world's largest publicly traded copper producer, spends several hundred millions of dollars per year on tailings dams upkeep and has not had a tailings dam failure since it acquired Phelps Dodge in 2007.
PLC (RIO.LN) said it will pay a special dividend worth US$4 billion as it recorded a 56% rise in annual net profit. The world’s second-biggest miner by market value on Wednesday reported a net profit of US$13.64 billion for 2018, up from a profit of US$8.76 billion a year earlier. Rio Tinto said it would use the cash from that sale to fund a special dividend of US$2.43 per share, which fattened a capital return that has also involved buying back shares worth up to US$3.2 billion.
Freeport-McMoRan Inc. Chief Executive Officer Richard Adkerson said there’s “tremendous” uncertainty because of the trade spat between the U.S. and China, the two largest consumers of the metal. Concerns over the outlook for the Chinese economy and possible fallout from the trade discord have been weighing on investor views of copper, even as supplies tighten and demand remains resilient, he said. “We have this disconnect between the physical marketplace for copper and investors’ perceptions of the future,” Adkerson said in an interview at an industry conference in Hollywood, Florida.
Freeport-McMoRan Inc. (FCX) announced today that notice has been issued to redeem on March 27, 2019, all of its outstanding $1 billion aggregate principal amount of 3.100% Senior Notes due 2020 (Notes), at a make-whole redemption price to be calculated in accordance with the terms of the indenture governing the Notes, plus accrued and unpaid interest on the Notes to be redeemed from the last interest payment date of March 15, 2019, to, but not including, the redemption date. FCX will use cash to fund the redemption. FCX expects to record a loss to net income of approximately $3.4 million in the first quarter of 2019 in connection with the redemption.
Adkerson's comments come a month after a Brazilian tailings dam controlled by rival Vale collapsed, killing more than 300. Investors have grown anxious in the wake of that disaster about the rising risk of tailings dams, which are effectively depositories for the muddy detritus of the mining process. Of the three main types of tailings dams, Vale was using one considered the least safe at the operation in Brazil that collapsed.
Freeport-McMoRan Inc Chief Executive Richard Adkerson said on Monday his company has been investing heavily to mitigate any danger from tailings dams and is "comfortable" with engineering designs in place at existing dams. Adkerson's comments come a month after a Brazilian tailings dam controlled by rival Vale collapsed, killing more than 300. Investors have grown anxious in the wake of that disaster about the rising risk of tailings dams, which are effectively depositories for the muddy detritus of the mining process.
Freeport-McMoRan (FCX) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Some analysts see further gains for copper ahead. Others warn the commodity’s path isn’t clearly bullish, given its close ties to demand from China, its biggest consumer.
Others, however, warn that copper’s path isn’t clearly bullish, given its close ties to demand from China, its biggest consumer. “We could witness enormous growth in what I believe is the ‘metal of the future’, thanks to [copper’s] exceptional [electrical] conductivity and the lack of competitively priced alternative metal,” says Frank Holmes, chief executive at U.S. Global Investors. Holmes expects copper to rise on increased demand for renewable energy and electric vehicles and a “looming supply gap.” Electric vehicles consume three to four times as much of the metal as those powered by traditional internal-combustion engines, he says.
Aphria (APHA) gained 44 cents to $10.15 Wednesday on 7.8 million shares traded. On Feb. 15 the Canadian cannabis producer said a probe of acquisitions in Latin America found certain board members had conflicts, but that the price paid was comparable to rival deals. The software developer reported better-than-expected quarterly financial results Tuesday.