|Bid||0.00 x 900|
|Ask||0.00 x 1000|
|Day's Range||11.76 - 12.11|
|52 Week Range||10.59 - 20.25|
|Beta (3Y Monthly)||2.45|
|PE Ratio (TTM)||6.03|
|Earnings Date||Jan 23, 2019 - Jan 28, 2019|
|Forward Dividend & Yield||0.20 (1.76%)|
|1y Target Est||16.33|
Canadian miner Lundin confirmed on Friday it was cutting 106 jobs at its Candelaria copper mine in Chile to "improve competitiveness and productivity", amid reports that workers had begun a 48-hour strike. "Lundin Mining has created over 1,000 employee and contractor positions at the Candelaria Mining Complex since acquisition in 2014 and continues to make significant investments to improve and increase productivity the operation," it said. Lundin has operations in Chile, Portugal, Sweden and the United States.
Chinese copper smelter Jiangxi Copper and miner Antofagasta have agreed 2019 copper treatment and refining charges (TC/RCs) at $80.08 a tonne and 8.08 cents a pound, three sources said. The charges agreed between Jiangxi and Antofagasta are down from the 2018 benchmark of $82.25 a tonne and 8.225 cents a pound. Miners pay the TC/RCs to smelters to process their concentrate into refined metal, offsetting what the smelters pay the miners for the concentrate.
Concerns about the Chinese economy have been among the major risks spooking investors globally. Concerns about China’s growth outlook impact metal and mining companies (SPY) like Freeport-McMoRan (FCX). China (FXI) is also a major market for US giants like Ford (F) and Apple (AAPL). On November 14, China released several economic indicators.
The Fed has raised rates three times in 2018. The Fed appears to be on track to raise rates for the fourth time next month. On multiple occasions, President Trump has spoken against the Fed’s tightening.
Market volatility drove investors towards gold last month, leaving the shares of miners more exposed to copper and silver in the dust.
Since the start of this year, there has been a severe fall in the prices of almost all commodities (COMT) like copper, nickel, lead, cobalt, and gold (GLD). Factors such as the stronger US dollar (UUP), higher interest rates, weakness in emerging markets, and increasing trade tensions have been the major reasons for the slump in commodities. The trade war has started taking its toll on China (FXI), which is a negative for commodities, as China is the mainstay for many commodity producers.
In the previous part, we discussed China’s steel and aluminum exports. While China is the largest steel and aluminum exporter, it’s the largest copper importer. Copper mining is concentrated in Latin America.
The market has been volatile as the Federal Reserve continues its rate hikes to normalize interest rates. Small-cap stocks have been hit hard as a result, as the Russell 2000 ETF (IWM) underperformed the larger S&P 500 ETF (SPY) by about 4 percentage points in October. SEC filings and hedge fund investor letters indicate that […]
In this article I am going to calculate the intrinsic value of Freeport-McMoRan Inc (NYSE:FCX) by taking the foreast future cash flows of the company and discounting them back to Read More...
As we noted in the previous part, metals and mining stocks including Freeport-McMoRan (FCX), U.S. Steel Corporation (X), and AK Steel (AKS) are trading with a double-digit year-to-date loss. The sector has underperformed broader equity markets. The SPDR S&P 500 ETF (SPY) is still positive for the year. In this part, we’ll see what’s really wrong with commodities and commodity producers.
Broader equity markets have whipsawed this year. The SPDR S&P 500 ETF (SPY) fell sharply last month. SPY has risen 3.8% YTD (year-to-date) based on the closing prices on November 5. While the broader market indices are still in the green for the year, metals and mining stocks have been a different ballgame.
NEW YORK, Oct. 31, 2018 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.
Freeport has lost a third of its value so far this year -- is something wrong or will the company make it through this downdraft in one piece?
This is the first time that Moody's has assigned ratings to Inalum. Proceeds from the notes issuance will be used to fund a portion of Inalum's proposed $3.85 billion payment to increase its share ownership of PT Freeport Indonesia (PTFI) to 51.23%, inclusive of the government of Papua's 10% stake, from 9.36%.
Among the assets Barrick will acquire in the $5.4 billion deal for Randgold is Kibali, a mine Bristow built from scratch in the Democratic Republic of Congo. While that operation has been a crowning achievement for Randgold, it’s set to challenge Bristow’s trouble-shooting skills even before he takes over as chief executive officer of the enlarged company.
Copper, an industrial metal known as a leading indicator of economic activity, has been pointing investors toward slowing global growth, setting prices on track for their first yearly decline since 2015.
The industrial metal known for predicting turns in the global economy is flashing red signs about growth, which could foretell more trouble for stocks
Freeport-McMoRan Inc. (FCX) collapsed 7.84% to $10.70 per share on Wednesday following the release of its results for the third quarter. The share price was impacted by the company's plan to reduce spending for new major investments because of trade tensions between the U.S. and China, said CEO Richard Adkerson on Wednesday during the conference call for the third-quarter earnings discussion, reported Bloomberg. Warning! GuruFocus has detected 1 Warning Sign with FCX.
Freeport-McMoRan Inc.’s stock hit a new low for the year on Wednesday following the release of its third-quarter earnings and news the CEO said he won’t look to sell the company. Freeport (NYSE: FCX) shares closed Wednesday at $10.70, down 91 cents, or 7.84 percent from the previous day. This comes after Freeport, the world’s largest publicly traded copper producer, beat Wall Street’s expectations Wednesday with the results of its third-quarter earnings, reporting net income of $556 million or 38 cents per share.