FCX - Freeport-McMoRan Inc.
| Previous Close | 17.080 |
| Open | 16.450 |
| Bid | 16.050 x 3000 |
| Ask | 16.060 x 1100 |
| Day's Range | 15.970 - 16.450 |
| 52 Week Range | 12.790 - 20.250 |
| Volume | 6,726,198 |
| Avg. Volume | 17,680,141 |
| Market Cap | 23.318B |
| Beta | 2.53 |
| PE Ratio (TTM) | 10.25 |
| EPS (TTM) | 1.571 |
| Earnings Date | Jul 25, 2018 |
| Forward Dividend & Yield | 0.20 (1.10%) |
| Ex-Dividend Date | 2018-07-12 |
| 1y Target Est | 19.64 |
Market Realist•19 minutes agoAnalyzing How Freeport-McMoRan Fared in the Agreement
As we noted previously, Freeport-McMoRan (FCX) announced a “Heads of Agreement” with the Indonesian government on July 12. Although Freeport-McMoRan was trading ~2.0% higher in early trade after the announcement, it pared the gains and finally closed with a loss of 0.70%. Looking at the terms of the agreement, Rio Tinto (RIO) got an acceptable price for its stake in the giant mine.
Market Realist•2 hours agoFreeport and Indonesia Take Baby Steps on Grasberg Impasse
Last week, Freeport-McMoRan (FCX) announced a “Heads of Agreement with the Indonesian state-owned enterprise PT Indonesia Asahan Aluminium (Inalum) and PT Freeport Indonesia’s (or PT-FI) joint venture partner Rio Tinto.” The agreement was preceded by a “Framework” that Freeport announced in August 2017.
- InvestorPlace•yesterday
Freeport-McMoRan Reaches Agreement, But It’s Not What Investors Wanted
It’s been hard to be a shareholder in copper and gold stock Freeport-McMoRan (NYSE:FCX) over the last few years. The latest battle and subsequent bruising to its share price stem from issues with the Indonesian government at its largest mine — and there is finally some closure on that front. It’s even worse as it comes at a time when copper prices are starting to drop hard.
Markit•2 days agoSee what the IHS Markit Score report has to say about Freeport-McMoRan Inc.
Freeport-McMoRan Inc NYSE:FCX
Market Realist•3 days agoFreeport’s Concerns: Ample Supply, Trade War, and Indonesia
As we noted previously, China’s copper imports have been strong this year. The imports denied the perceived slowdown in the country’s economic activity. Last month, the spike in copper concentrate imports could also be attributed to the closure of Vedanta’s smelter in India.
- Zacks•3 days ago
Freeport (FCX) Declares Terms of PT-FI Divestment & New Deal
Freeport's (FCX) latest move highlights a significant milestone toward establishing a new partnership with Republic of Indonesia for long-term stability of PT Freeport Indonesia's operations.
Market Realist•6 days agoGrasberg Is Far from a Done Deal for Freeport
Is Freeport’s Grasberg Transaction a Win-Win? While Freeport-McMoRan (FCX) has announced a transaction price for its stake in PT Freeport Indonesia (or PT-FI), the company is yet to sign a definitive agreement.
Market Realist•6 days agoWhat Freeport, Rio Tinto, and Indonesia Get from Grasberg Deal
Is Freeport’s Grasberg Transaction a Win-Win? As noted previously, Freeport-McMoRan (FCX) announced its stake sale in PT Freeport Indonesia (or PT-FI). The Indonesian government (EIDO) achieved two objectives from the transaction.
Market Realist•6 days agoIs Freeport’s Grasberg Transaction a Win-Win?
On July 12, Freeport-McMoRan (FCX), the leading US-based copper miner, announced that the company would sell a small stake in PT Freeport Indonesia (or PT-FI). Rio Tinto (RIO) will sell its entire stake in PT-FI. PT Indonesia Asahan Aluminium (Inalum), a state-owned enterprise, plans to acquire the stakes and emerge as the largest shareholder in PT-FI after the deal closes.
- Reuters•6 days ago
Q&A-What's left to resolve in Indonesia's $3.9 billion mine deal with Freeport?
Freeport-McMoRan Inc agreed on Thursday to sell a majority stake in the world's second-biggest copper mine to the Indonesian government via a series of complex deals worth $3.85 billion, potentially ending a long-running dispute on mining rights. Freeport and Rio Tinto have agreed on a structure and pricing for a series of transactions to transfer majority ownership of the Grasberg project to Indonesia's state-owned mining holding company, PT Inalum. Inalum will pay $3.5 billion for Rio Tinto's 40 percent participating interest which Freeport will then convert into an equity holding in local unit PT Freeport Indonesia.
- Reuters•6 days ago
Indonesia's Inalum secures $5.2 billion financing for Freeport deal - sources
Indonesia's state-owned miner Inalum has secured $5.2 billion (3.9 billion pounds) in financing from 11 foreign and local banks, according to sources with knowledge of the matter, to be used in part to buy a majority stake in the Grasberg copper mine. This comes a day after Freeport-McMoRan Inc (FCX.N) said it would sell a majority stake in the world's second-biggest copper mine to the Indonesian state-owned miner via a series of complex deals worth $3.85 billion. The Grasberg deal will be paid off quickly, helped by forecast returns from the mine, Inalum CEO Budi Gunadi Sadikin told Reuters on Friday.
- Reuters•6 days ago
Indonesia's Inalum secures $5.2 bln financing for Freeport deal-sources
Indonesia's state-owned miner Inalum has secured $5.2 billion in financing from 11 foreign and local banks, according to sources with knowledge of the matter, to be used in part to buy a majority stake in the Grasberg copper mine. This comes a day after Freeport-McMoRan Inc said it would sell a majority stake in the world's second-biggest copper mine to the Indonesian state-owned miner via a series of complex deals worth $3.85 billion. The Grasberg deal will be paid off quickly, helped by forecast returns from the mine, Inalum CEO Budi Gunadi Sadikin told Reuters on Friday.
- The Wall Street Journal•6 days ago
[$$] Indonesia Moves Closer to Taking Controlling Stake in Freeport Mine
PLC have agreed to hand over control of the world’s second-biggest copper mine to Indonesia, moving closer to resolving one of the world’s most prominent recent battles over resource wealth. Thursday’s agreement comes after years of tense negotiations and follows moves by governments around the world, from the Democratic Republic of Congo to Tanzania, to wrest control of mines and take a bigger cut of profits. The deal also illustrates the dilemma facing large mining companies, which often sink billions of dollars into projects in far-flung places only to face unpredictable laws and yearslong battles.
Reuters•7 days agoFreeport to cede control of Indonesian copper mine in $3.9 billion deal
JAKARTA/TORONTO (Reuters) - Freeport-McMoRan Inc said on Thursday it will sell a majority stake in the world's second-biggest copper mine to the Indonesian government, seemingly ending a long-running dispute via a series of complex deals worth $3.85 billion (£2.91 billion). The agreement, which could still collapse, will see Freeport give up majority control but remain the operator of the Grasberg mine, located in the country's eastern province of Papua, as Jakarta seeks to gain greater control over its mineral wealth. Freeport accepted far less than it could have gotten for its majority Grasberg stake, highlighting the company's desire to end an acrimonious chapter that had weighed on its shares for more than six years.
- Reuters•7 days ago
Freeport to cede control of Indonesian copper mine in $3.9 bln deal
JAKARTA/TORONTO, July 12 (Reuters) - Freeport-McMoRan Inc said on Thursday it will sell a majority stake in the world's second-biggest copper mine to the Indonesian government, seemingly ending a long-running dispute via a series of complex deals worth $3.85 billion. The agreement, which could still collapse, will see Freeport give up majority control but remain the operator of the Grasberg mine, located in the country's eastern province of Papua, as Jakarta seeks to gain greater control over its mineral wealth. Freeport accepted far less than it could have gotten for its majority Grasberg stake, highlighting the company's desire to end an acrimonious chapter that had weighed on its shares for more than six years.
Market Realist•7 days agoThe Markets Aren’t Excited about Freeport’s Grasberg Resolution
On July 12, Freeport-McMoRan (FCX) announced that “it has entered into a Heads of Agreement with the Indonesian state-owned enterprise PT Indonesia Asahan Aluminium (Inalum) and PT Freeport Indonesia’s (or PT-FI) joint venture partner Rio Tinto.” Under the terms of the agreement, while Rio Tinto (RIO) will sell the entire stake in PT-FI, Freeport will divest a minority stake.
- Reuters•7 days ago
Indonesia to pay $3.85 billion for majority stake in Freeport's Grasberg copper mine
Indonesia struck an agreement on Thursday with Freeport-McMoRan Inc and Rio Tinto to buy a controlling stake in the world's second-biggest copper mine via a series of transactions valued at $3.85 billion. The deal should cap more than six years of wrangling over the rights for the Grasberg mine, located in the country's eastern province of Papua, as Jakarta seeks to gain greater control over its mineral wealth. "It's a new day for Freeport, and a new day for our working with the government," Freeport Chief Executive Officer Richard Adkerson said on a conference call with investors after a signing ceremony in Jakarta.
Reuters•7 days agoRio Tinto sells $3.5 billion stake in Grasberg copper mine to Indonesian state miner
Rio Tinto had a joint venture with Freeport-McMoRan, operator of Grasberg, for a 40 percent share of Grasberg's production above specific levels until 2021 and 40 per cent of all production after 2021. Freeport-McMoRan separately said it will receive $350 million from PT Inalum after the stake sale.
Markit•7 days agoSee what the IHS Markit Score report has to say about Freeport-McMoRan Inc.
Freeport-McMoRan Inc NYSE:FCX
- Business Wire•7 days ago
Freeport-McMoRan Announces Terms of PT Freeport Indonesia Divestment and New Long-Term Partnership with PT Inalum
Freeport-McMoRan Inc. (FCX) announced today that it has entered into a Heads of Agreement with the Indonesian state-owned enterprise PT Indonesia Asahan Aluminium (Inalum) and PT Freeport Indonesia's (PT-FI) joint venture partner Rio Tinto. Under the terms of the non-binding Heads of Agreement, Inalum will acquire for cash consideration of $3.85 billion all of Rio Tinto's interests associated with its Joint Venture with PT-FI (the “Joint Venture”), and 100 percent of FCX's interests in PT Indocopper Investama (PT-II), which owns 9.36 percent of PT-FI.
- Financial Times•7 days ago
[$$] Rio Tinto sells Grasberg stake for $3.5bn
, the world’s second-biggest copper mine, for $3.5bn, a deal that would open its share register to a wider range of investors. by the country’s President Joko Widodo to boost local ownership of natural resources. Once these transactions have been completed and Rio’s interest converted into equity, Inalum will emerge with a 51 per cent interest in Grasberg.
- MarketWatch•7 days ago
Rio Tinto, Freeport-McMoRan stock rally after Rio Tinto sells copper mine interests for $3.5 billion to Inalum
Rio Tinto PLC (rio) and Freeport-McMoRan Inc. (fcx) announced Thursday a deal for the sale of Rio Tinto's interest in the Grasberg copper mine to Indonesia's state mining company, PT Indonesia Asahan Aluminium (Inalum) for $3.5 billion. Rio Tinto's U.S.-listed shares rose 1.2% in premarket trade and Freeport's stock rallied 1.8%. Freeport currently owns 90.6% of the Grasberg mine and Inalum owns the rest.
- Reuters•7 days ago
Indonesia puts total value of acquisitions under Freeport deal at $3.85 bln
Indonesia's State-Owned Enterprises Minister Rini Soemarno said on Thursday state mining company PT Inalum will pay $3.85 billion to acquire a majority stake in the local unit of Freeport-McMoRan Inc. ...
- Reuters•7 days ago
Indonesian President says state mining company makes deal to raise stake in Freeport unit to 51 percent
Indonesian President Joko Widodo said on Thursday that state-owned mining company PT Inalum has reached an initial agreement with Freeport-McMoRan Inc (FCX.N) to increase its stake in Freeport's local unit to 51 percent. The larger stake would give Inalum a controlling stake in Freeport's Indonesian assets, including the Grasberg mine, the world's second-biggest copper mine.
- Bloomberg•7 days ago
Freeport Unveils Indonesia Price But Plenty Left to Resolve
In what has become a pattern of two steps forward and one back, Freeport-McMoRan Inc. hailed a framework agreement that has been reached over its flagship copper-and-gold mine in Indonesia -- while acknowledging it’s far from definitive. “What we’ve done today, after months of hard work, is reach an important step towards progressing this framework agreement to point towards an ultimate consummation of it,” Chief Executive Officer Richard Adkerson said in a conference call Thursday. Earlier in Jakarta, Freeport and the Indonesian government announced a deal that confirms the price-tag to cede majority control of the Grasberg mine.
