Advertisement
Advertisement
U.S. markets closed
Advertisement
Advertisement
Advertisement
Advertisement

Freeport-McMoRan Inc. (FCX)

NYSE - Nasdaq Real Time Price. Currency in USD
Add to watchlist
36.31-0.41 (-1.12%)
At close: 04:03PM EDT
36.40 +0.09 (+0.25%)
After hours: 07:58PM EDT
Advertisement
Sign in to post a message.
  • R
    Randall
    Gold 1,840 starting to get traction. Copper 4.29 going up next week 4.40 will be here soon. 40.00 next week slow grind. As China moves out of lockdown so will Copper and FCX. Stay long there is a shortage on Copper. Who really knows what the market will do but I think the bottom has been hit That said I went all in yesterday Honeywell, Ford, GM, Apple, all ready heavy FCX good luck.
  • M
    Milt
    In looking at my portfolio this AM, although FCX and copper giving back most of 2022 gains, Gilead and Pfizer continue to be stellar performers throughout the crash. By stellar I mean have not lost a penny of value with 100% of capital preserved. My feeling is that these stocks as well as stocks like Nutrien, Starbucks, Scotiabank, Conoco Phillips will be solid performers in a high inflation, interest rising environment going forward, as of Friday's closing prices. They all offer solid dividends which are in no jeopardy of being reduced.
  • H
    Highlowsel
    OT but: A great quote just now over on Bloomberg while talking to Rep Nicole Malliotakis (R) NY State. "A politician should not be choosing their constituencies. The constituencies should be choosing their politician. "
  • R
    Randall
    Dow 400 down. If market keeps dropping won't have to worry about Fed raising interst rates won't be nothing left to raise. Copper 4.19 trying to move higher. FCX Premarket 34.45 I think Market will calm down today.
  • D
    Dennis
    OT -- New Jersey’s tax revenues are about $7 billion over what had been projected just two months ago (Bergen Record), State officials attributed growth to “retail gains, a boom in financial markets and an “overheated" economy" Similar revenue growth is expected in neighboring states of New York and Pennsylvania.... appearing to be part of a national trend.
    State officials said that this "unprecedented" surplus "should help soften the blow of a predicted recession". There is already some debate on how to spend it.
  • J
    Joe
    I can see a company coming in and buying fcx at 60 a share…
  • m
    michael
    as the world economy slows .individual countries and entities will turn to infrastructure development.This am,in Brussels , the EU initiated its program to rapidly become independent of Russian fossil fuel through efficiency and clean energy production.....others will follow.....electrical infrastructure will thrive
    Bullish
  • J
    Joe
    Why doesnt fcx use some of the cash to pay down the debt?? Do like 500 million a quarter.
  • M
    MS
    The top of mind question was asked today on the loss of ownership at Grasberg at the BoA conference call. The analyst pointed out it’s a big concern for investors. KQ responded briefly that this was always the situation with the RIO deal and now with GoI. She also stated that the stock buyback will increase FcX’s ownership - could not fathom exactly what was meant. Likely that the reduction in Total Share outstanding will smooth earnings a bit! I wish she had responded better with how volume grows elsewhere - but the question was asked and not dodged… likely more to come on this and ease the market concerns if FcX does a better job answering it head on and better planned answers!
  • R
    Randall
    Look for new Investors to start buying FCX today. FCX way under valued, volume should be high. Look for FCX to move higher this week.
  • G
    Greg
    Well, when futures were up this morning pre-opening and the PM bid was around 37.50, I was admittedly very tempted to jump in right at opening. So glad I paused on that! Now the decision is: do I jump in just before closing if it's still hanging around 35.6, and take the risk of it going lower still Monday, or that it tries to climb rapidly again like yesterday morning? I lean towards staying out.
  • D
    Dennis
    Indecision prevented me from buying anything yesterday. Expect a market rally today.
  • H
    HUGABOOM
    The 7 Best Monthly Dividend Stocks That Can Make You A FORTUNE! For more info https://youtu.be/CWCzveeL2d8
  • D
    Dennis
    OT – US Inflation: Last week, "Saudi Aramco lowered almost all of its official selling prices across Asia, Europe and the Mediterranean for June-loading cargoes and kept US differentials unchanged.” I’m not sure why but it’s hard to blame the Fed.

    Discussions on Russian energy have centered on natural gas, but the diesel fuel shortage in Europe will have a greater impact on US inflation. Diesel prices in Europe, where half of all automobiles run on diesel, have skyrocketed.
    “Those high prices have prompted a huge surge in exports of diesel to Europe from US and Canadian refineries that would normally be supplying US truck stops and trucking companies. Exports of US diesel to Europe since the start of April are up 36% compared to the same period a year ago, according to the US Energy Information Administration.”

    “Oil refineries are making as much diesel, and similarly expensive jet fuel, as possible with the oil they have, which is driving up the price of gasoline. But there is less US and Canadian refining capacity today than there was before the pandemic, as some refineries closed permanently, and others are being converted to refine renewable fuels rather than crude oil.”

    “Virtually everything you buy is at some point shipped on a truck that runs on diesel. Trucking companies charge their customers a fuel surcharge when prices rise, raising the cost on whatever they're delivering. Entire supply chains can be crippled if trucks don't have the fuel they need to run.
    It's also critical for use in agriculture. Higher diesel prices could force farmers to scale back plantings or fertilizing, limiting already tight food supplies and driving up food prices beyond the added cost of transportation."
    Quoted paragraphs are excerpts from CNN Business. May 12
  • G
    Greg
    Very nice start to the day.
  • U
    Ultra
    "Through April 20, 2022, FCX has acquired 26.8 million shares of its common stock for a total cost of
    $1.1 billion ($41.69 average cost per share) under the $3.0 billion share repurchase program,
    including 14.1 million shares for a total cost of $631 million ($44.74 average cost per share) during
    2022." - - PHOENIX, AZ, April 21, 2022 - Freeport-McMoRan Inc.

    Was it worth it ?

    Anecdotal evidence (as in today's share price) says: NO.

    Probably confirming poster REG's worry.
  • s
    smb_gt
    Okay, copper prices have fallen to about $4/lb. FCX's all-in cost for copper is under $1.50/lb. So even with copper at $4 or $3.50 or $3, FCX is going to be highly profitable. Recession fears not good for stocks, but commodity stocks should do well with inflation.
  • D
    Dennis
    US Inflation was 8.3% in April vs 8.5% in March. That's still pretty high considering that the increase is calculated over 2021 prices.
    Inflation in 2021 was 1.7% in February, 2.6% in March, 4.2% in April, 5.0% in May, and 5.4% in June, before leveling off until September. So April’s 8.3% was on top of last year's 4.2% and the May number will be on top of last year's 5%.

    Tracking the price of gasoline to politics is interesting. The average price was $2.42 per gallon when the President was inaugurated in January 2021. A year later, in January 2022, it was $3.41, a 41% increase largely due to domestic policies. Russia invaded Ukraine in February 2022. Resulting events, largely sanctions, brought April gasoline prices to $4.21, a 23% increase in 2 months. EIA numbers stop there but AAA reports the current price at $4.37.

    The market is performing relatively well today, despite the morning's inflation (CPI) report.
    Core prices, which exclude more volatile food and energy prices, climbed 6.2% in April from last year, reportedly higher than expected. I’m hoping that the May and June increases are lower, alleviating some pressure on the Fed to aggressively raise rates.
  • D
    Dennis
    I’ve had enough of watching the market this week.
    I’m leaving to get my second booster shot – 4th jab in all.
    After that, I can start worrying about the avian flu, monkeypox, or getting shot on a NYC subway.
    Have a great weekend.
  • R
    Randall
    Talking heads are acting as the world is coming to a end. Copper shorts are winning today this will change. Look at warehouse stock. China will start to open very soon demand will skyrocket. If you have Dry Powder take advantage and buy FCX or the stocks that are Undervalued. Watch Copper move higher today 4.05 at this price no Investors going to put money up to build new Mines.
Advertisement
Advertisement