FCX - Freeport-McMoRan Inc.

NYSE - NYSE Delayed Price. Currency in USD
12.87
-0.19 (-1.45%)
At close: 4:02PM EST
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Previous Close13.06
Open13.10
Bid12.90 x 21500
Ask12.98 x 28000
Day's Range12.83 - 13.38
52 Week Range8.43 - 14.68
Volume26,292,092
Avg. Volume23,884,546
Market Cap19B
Beta (5Y Monthly)2.48
PE Ratio (TTM)79.44
EPS (TTM)0.16
Earnings DateJan 22, 2020 - Jan 27, 2020
Forward Dividend & Yield0.20 (1.53%)
Ex-Dividend Date2019-10-11
1y Target Est13.26
  • Barrick CEO Says He Has Plenty of Financial Firepower for Deals
    Bloomberg

    Barrick CEO Says He Has Plenty of Financial Firepower for Deals

    (Bloomberg) -- Barrick Gold Corp.’s chief says the gold miner has the financial heft it needs to support its loftiest ambitions -- and some day those might include a merger with Freeport-McMoRan Inc.“Barrick, by end of next year, or during next year, will be net debt zero,” Chief Executive Officer Mark Bristow said Thursday in a phone interview. “We’ve definitely got the firepower to build a mine or to support a transaction. We don’t need any external support, for any of our ambitions, as we stand today.”The world’s second-largest gold miner has been generating more cash flow, with higher bullion prices, even as it has sold assets. By the end of this year net debt will be under $2 billion, Bristow said. “We’re going to settle all the near-term debt, and we’re left with debt that’s only due from 2023 onwards.”In an interview last month, Bristow said there’s a logic to combining Barrick with Freeport as part of a broader gold strategy.While it makes sense to start an “intellectual conversation” about a deal with the Phoenix-based copper miner, Barrick spent three years putting together its tie-up with Randgold Resources Ltd. and has no plans to rush into anything, he said Thursday. Any tie-up with Freeport would also have to be friendly.“There’s no way we would do something in a hostile way because there’s too much risk in a transaction of that size and nature,” Bristow said.Freeport didn’t immediately respond to a request for comment.‘Focused on Quality’Most of the mining companies that are capable of taking on Grasberg, Freeport’s massive copper-and-gold mine in Indonesia, wouldn’t dare because of the risks, Bristow said. But “if you’re focused on quality, you’ve got to look at the world’s biggest gold mines.”Freeport emerged from a multi-year saga in 2018 which forced it to divest part of its stake in Grasberg in order to secure long-term mining rights in the country. The mine has also been the subject of global criticism for its waste-treatment practices.For now, Bristow said there’s more chance of Barrick selling copper than buying it. Asked if that means a sale of its Lumwana copper mine in Zambia is imminent, he said the company has “received inbound interest, as you can imagine” but it doesn’t need to sell the asset.The Toronto-based miner has a long-term gold strategy, not a copper strategy, Bristow stressed. However, “if we want to be a materially relevant organization focused on gold, we’re going to have to get our head around copper.”“Freeport, undoubtedly is a company with a cluster of tier 1 assets and it’s the purest of all the copper miners,” he said.\--With assistance from Aoyon Ashraf.To contact the reporter on this story: Danielle Bochove in Toronto at dbochove1@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Steven Frank, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Barrons.com

    Wall Street Is Finally Getting Bullish About Mining. Here Are 2 Stocks to Buy.

    Wall Street is slowly getting more bullish on mining stocks. Large mining stocks Barron’s tracks are down more than 50% from all-time highs, but the sector has bounced back some in 2019, up about 14% on average. The reason for improved sentiment is linked to iron ore and copper, two key metals for global miners.

  • Zacks

    Copper at 4-1/2-Month High on Solid Imports Data From China

    Copper prices surge amid positive data from China and the phase one trade deal between the United States and China.

  • Freeport McMoRan Earns Relative Strength Rating Upgrade; Hits Key Threshold
    Investor's Business Daily

    Freeport McMoRan Earns Relative Strength Rating Upgrade; Hits Key Threshold

    Freeport McMoRan saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, with an upgrade from 78 to 82. When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's unique RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks matches up against the rest of the market.

  • Benzinga

    Large Option Traders Betting Freeport-McMoRan Rally Will Continue Into 2020

    Freeport-McMoRan Inc (NYSE: FCX) shares have rallied 29.3% in the past three months as investors have become more bullish about the company’s growth strategy and focus on improving its balance sheet. On Monday, Benzinga Pro subscribers received 15 option alerts related to unusually large Freeport-McMoRan trades. From 9:03 a.m. to 9:04 a.m., a trader bought 6,267 Freeport-McMoRan call options with a $14 strike price expiring Feb. 21, 2020 near ask prices ranging from 31 cents to 32 cents.

  • Stocks With Rising Relative Strength: Freeport McMoRan
    Investor's Business Daily

    Stocks With Rising Relative Strength: Freeport McMoRan

    Freeport McMoRan shows rising price performance, earning an upgrade to its IBD Relative Strength Rating

  • Freeport (FCX) Divests a Portion of Cobalt Business for $200M
    Zacks

    Freeport (FCX) Divests a Portion of Cobalt Business for $200M

    Freeport (FCX) is expected to realize a gain of around $60 million from the transaction.

  • The stock market's biggest winners and losers of the past decade
    Yahoo Finance

    The stock market's biggest winners and losers of the past decade

    With the 2010s officially drawing to a close, Yahoo Finance took a look at some of the biggest S&P 500 winners and losers of the past decade based on price returns.

  • Were Hedge Funds Right About Piling Into Freeport-McMoRan Inc. (FCX)?
    Insider Monkey

    Were Hedge Funds Right About Piling Into Freeport-McMoRan Inc. (FCX)?

    With the first-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the second quarter. One of these stocks was Freeport-McMoRan Inc. (NYSE:FCX). Is Freeport-McMoRan Inc. (NYSE:FCX) a bargain? Hedge […]

  • The Freeport-McMoRan (NYSE:FCX) Share Price Is Down 54% So Some Shareholders Are Wishing They Sold
    Simply Wall St.

    The Freeport-McMoRan (NYSE:FCX) Share Price Is Down 54% So Some Shareholders Are Wishing They Sold

    While not a mind-blowing move, it is good to see that the Freeport-McMoRan Inc. (NYSE:FCX) share price has gained 26...

  • Business Wire

    Freeport-McMoRan Inc. Completes Sale of Portion of Cobalt Business to Umicore

    Freeport-McMoRan Inc. announced today that it has completed the previously announced sale of its cobalt refinery in Kokkola, Finland and related cobalt cathode precursor business to Umicore for total cash consideration of approximately $200 million, including approximately $50 million of working capital.

  • Freeport-McMoRan (FCX) Up 14.8% Since Last Earnings Report: Can It Continue?
    Zacks

    Freeport-McMoRan (FCX) Up 14.8% Since Last Earnings Report: Can It Continue?

    Freeport-McMoRan (FCX) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • Benzinga

    Large Freeport-McMoRan Option Trader Betting On 25% Upside

    Freeport-McMoRan Inc (NYSE: FCX) is up 18.3% in the past three months as the company executes its growth strategy. On Thursday, Benzinga Pro subscribers received 13 option alerts related to unusually large Freeport-McMoRan trades. From 9:48 a.m. to 9:50 a.m. a trader bought 2,682 Freeport-McMoRan call options with a $13 strike price expiring on May 15, 2020 near ask prices ranging from 59 cents to 60 cents.

  • Reuters

    ASIA COPPER WEEK-Freeport sets lower 2020 treatment charges with Chinese copper smelters

    Miner Freeport-McMoRan Inc and three Chinese copper smelters on Thursday agreed a 23% cut in annual treatment and refining charges (TC/RCs) for 2020, pushing the industry benchmark to a nine-year low. Freeport settled with Jiangxi Copper, Tongling Nonferrous Metals and China Copper Corp in three separate deals at the same price, Javier Targhetta, president of Atlantic Copper and senior vice president for marketing and sales at Freeport told Reuters. The charges, paid by miners to smelters to process ore into refined metal, were set at $62 a tonne and 6.2 cents per pound, down from $80.80 a tonne and 8.08 cents per pound in 2019, reflecting tight concentrate supply and China's rising processing capacity.

  • MoneyShow

    A Trio of Mining Favorites- Copper, Gold and Iron Ore

    Commodities and commodity stocks also go through their own cycles and the big gains come to those who jump in when commodity prices are down and forming a bottom, or in the early stages of an uptrend, notes Carl Delfeld, editor of Cabot Global Stocks Explorer.

  • Reuters

    RPT-ASIA COPPER WEEK-Freeport sees sharp drop in copper treatment charges next year

    Freeport McMoRan Inc expects treatment and refining charges for copper concentrates in 2020 to be "well below" last year's levels as Chinese smelting capacity is expected to rise, a senior company executive said on Tuesday. For 2020, treatment charges (TC) of around $60 per tonne and refining charges (RC) of 6 cents per lb would be a "reasonable level to settle at", Javier Targhetta, president of Atlantic Copper and senior vice president for marketing and sales at Freeport told Reuters in an interview during Asia Copper Week in Shanghai on Tuesday. Top global miners like Freeport and Chinese smelters are currently negotiating for next year's annual contracts and TC/RCs are widely expected to be below the 2019 level of $80.80 per tonne/8.08 cents per lb.

  • Benzinga

    Q3 13F Roundup: How Buffett, Einhorn, Ackman And Others Adjusted Their Portfolios

    The latest round of 13F filings from institutional investors is out, revealing to the world the stocks that some of the richest and most successful investors have been buying and selling. Takeaways From ...

  • Benzinga Pro's Top 5 Stocks To Watch For Fri., Nov. 15, 2019: JCP, JD, TLRY, FCX, AMAT
    Benzinga

    Benzinga Pro's Top 5 Stocks To Watch For Fri., Nov. 15, 2019: JCP, JD, TLRY, FCX, AMAT

    Benzinga Pro's Stocks To Watch For Friday JC Penney (JCP) - Posted mixed Q3 results and said is expecting FY19 adjusted EBITDA over $475 million. Year-over-year comps were down 9.3% for the quarter. The ...

  • Chilean protests could boost these U.S. mining stocks, says research firm
    MarketWatch

    Chilean protests could boost these U.S. mining stocks, says research firm

    Ongoing civil unrest in Chile could lead to high copper prices and provide a boost for Freeport-McMoRan and a number of other U.S. mining stocks, according to CFRA Research.

  • Benzinga

    BofA Upgrades Freeport-McMoRan In Anticipation Of Grasberg Contribution

    Freeport-McMoRan Inc (NYSE: FCX ) has completed another “transition year” in the move to underground mining at its giant Grasberg mine in Indonesia and this key asset seems poised for full contribution ...

  • Trade Deal Could Lift Freeport-McMoRan and Alcoa
    Market Realist

    Trade Deal Could Lift Freeport-McMoRan and Alcoa

    The metals and mining sector has been weak this year. Freeport-McMoRan (FCX) and Alcoa (AA) have underperformed the broader market.

  • TheStreet.com

    [video]Buy Freeport McMoRan to Profit From Thawing U.S.-China Relations

    If you want to profit from a possible end to the U.S.-China trade war, then buy shares in U.S.-based copper miner Freeport McMoRan . "Freeport is a buy because I believe we get a China deal," said Adam Johnson, author of the financial newsletter Bullseye Brief. The shares have underperformed over the last year as trade tensions hit the copper market and dogged Freeport stock.