12.22 +0.02 (0.12%)
Pre-Market: 8:28AM EDT
|Bid||12.35 x 4000|
|Ask||12.37 x 800|
|Day's Range||12.15 - 13.10|
|52 Week Range||9.60 - 18.38|
|Beta (3Y Monthly)||1.48|
|PE Ratio (TTM)||6.86|
|Earnings Date||Jul 23, 2019 - Jul 29, 2019|
|Forward Dividend & Yield||0.20 (1.55%)|
|1y Target Est||14.47|
Freeport-McMoran: Key Takeaways from Its Q1 Earnings(Continued from Prior Part)Freeport-McMoRan’s earningsFreeport-McMoRan (FCX) reported its first-quarter earnings on April 25. The company reported an adjusted EPS of $0.05 in the quarter, which
Freeport-McMoRan Inc, the world's largest publicly traded copper producer, posted a lower-than-expected quarterly profit on Thursday due to slipping production and prices for the red metal, sending shares down more than 9 percent. The results come amid a more than $15 billion project to expand Indonesia's Grasberg copper and gold mine from an open pit to an underground operation, a complex and time-intensive process that is nevertheless essential to help Freeport stem an erosion in production. The stock had gained about 35 percent since January, outpacing copper prices.
Freeport-McMoran: Key Takeaways from Its Q1 EarningsCopper shipments On April 25, Freeport-McMoRan (FCX) reported its first-quarter earnings. The company reported revenues of $3.79 billion in the first quarter—compared to $3.68 billion in the
Freeport-McMoRan (FCX) delivered earnings and revenue surprises of -37.50% and -0.66%, respectively, for the quarter ended March 2019. Do the numbers hold clues to what lies ahead for the stock?
Freeport-McMoRan Inc. shares were slightly lower in premarket trade Thursday, after the copper and gold miner posted weaker-than-expected profit for the first quarter. The company said it had net income of $31 million, or 2 cents a share, in the quarter, down from $692 million, or 47 cents a share, in the year-earlier period. Adjusted per-share earnings came to 5 cents, below the 7 cents FactSet consensus. Revenue fell to $3.792 billion from $4.868 billion, and was a whisker ahead of the FactSet consensus of $3.791 billion. "Our transition to underground mining at Grasberg is advancing according to plan, and we are encouraged by recent milestones," Chief Executive Richard Adkerson said in a statement. "In North America and South America, we are advancing the Lone Star copper leach project in eastern Arizona and continuing to focus on opportunities to enhance operating performance from existing mines." The company sold 784 million pounds of copper, 242,000 ounces of gold and 22 million pounds of molybdenum in the quarter. For the full year, it expects to sell 3.3 billion pounds of copper, 0.8 million ounces of gold and 94 million pounds of molybdenum, including 800 million pounds of copper, 265 thousand ounces of gold and 25 million pounds of molybdenum in second-quarter 2019. Shares were slightly lower premarket, but have fallen 11.7% in the last 12 months, while the S&P 500 has gained 10.9%.
Freeport-McMoRan Inc. on Thursday reported first quarter profit of $31 million. On a per-share basis, the Phoenix company said it had net income of 2 cents. Earnings, adjusted for non-recurring costs, ...
Freeport-McMoRan Inc, the world's largest publicly traded copper producer, said on Thursday its quarterly profit dropped along with production and prices for the red metal. The company posted net income ...
What to Expect from Freeport-McMoRan's Q1 Earnings(Continued from Prior Part)Freeport’s earnings Freeport-McMoRan’s (FCX) adjusted EBITDA are expected to fall to $856 million in the first quarter. It posted EBITDA of $885 million in the fourth
What to Expect from Freeport-McMoRan's Q1 EarningsFreeport-McMoRanFreeport-McMoRan (FCX) is scheduled to release its first-quarter earnings on April 25. Analysts polled by Thomson Reuters expect the company to post revenues of $3.81 billion in the
Commodities are coming back alive in 2019. Since the calendar flipped to January, the popular S&P GSCI Commodity Index has surged nearly 19% higher, the best year-to-date start for the index in more than two decades. As commodity prices rise, commodity stocks' margins experience an operating leverage effect that investors are hungry for as analysts warn on the potential for profit margin compression elsewhere in the market.
Freeport-McMoRan (FCX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
U.S. stock futures are rallying into the open this morning.Source: Shutterstock Futures on the Dow Jones Industrial Average are up 0.17% and S&P 500 futures are higher by 0.22%. Nasdaq-100 futures have added 0.18%.Resistance near last year's peak flexed its muscles Wednesday, thwarting the market rally. In the options pits, calls continued to dominate and overall volume climbed to above-average levels. Specifically, about 19.1 million calls and 14.6 million puts changed hands on the session.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMeanwhile, over at the CBOE, the single-session equity put/call volume ratio fell to 0.55. The 10-day moving average continued hovering near 0.60.Options traders swarmed in the following stocks: Intel (NASDAQ:INTC), Netflix (NASDAQ:NFLX) and Freeport McMoran (NYSE:FCX)Let's take a closer look: Intel (INTC)In yesterday's vital data we highlighted the unexpected settlement between Apple (NASDAQ:AAPL) and Qualcomm (NASDAQ:QCOM) that sent QCOM stock skyrocketing. It turns out Intel was another beneficiary to the news. With AAPL officially befriending Qualcomm for all of its 5G needs, Intel decided to abandon its efforts at developing cellphone modems designed for 5G internet. * 10 Best Stocks to Buy and Hold Forever Rather than punishing Intel for the lost opportunity, investors are rewarding the chipmaker for exiting what was likely to be an unprofitable venture.With Wednesday's 3.26% gain, INTC stock closed at a fresh 19-year high. Its uptrend is on solid footing heading into next week's earnings announcement.On the options trading front, calls ruled the roost. Activity swelled to 447% of the average daily volume, with 280,589 total contracts traded. Calls claimed 63% of the day's take.The pre-earnings volatility ramp continued with a rise to 31% or the 44th percentile of its one-year range. Premiums are pricing in daily moves of $1.14 or 1.9%. Netflix (NFLX)Netflix entered its earnings release with the specter of Disney's (NYSE:DIS) Disney Plus hanging over its head. Fortunately for the streaming king, its quarterly numbers were sufficient to lay investor fears to rest for now. NFLX stock ended the day down 1.31%, which is an extremely quiet reaction compared to some of its monster gaps from past quarters.For the first quarter, Netflix earned 76 cents per share compared to analyst expectations of 57 cents. Revenue also came in above expectations at $4.52 billion versus 4.50 billion.On the options trading front, calls outpaced puts by a slim margin despite the day's descent. Total activity climbed to 241% of the average daily volume, with 392,668 contracts traded. Calls accounted for 55% of the sum.Traders were baking in an earnings gap of 6.5%, so the 1.31% slide came in well below expectations. Chalk this quarter up to a massive win for volatility sellers. Freeport McMoRan (FCX)FCX stock was percolating on Thursday as traders jockeyed for positions ahead of its earnings announcement. The copper and gold company traded up 5% before profit-taking slammed it back to unchanged on the day.This year's recovery has taken FCX shares up some 40% to reclaim the high side of its 200-day moving average. The 20-day and 50-day moving averages are also rising loyally beneath to confirm buyers have wrested control of the short- and intermediate-term trends. Bulls shouldn't rest on their laurels, however. The past four earnings announcements have generated intense selling pressure. Here's to hoping next week's event doesn't undo this year's progress.On the options trading front, traders came after calls with a vengeance. Activity jumped to 385% of the average daily volume, with 192,024 total contracts traded. 86% of the trading came from call options alone.Implied volatility rallied to 47% placing it at the 36th percentile of its one-year range. Premiums are pricing in daily moves of 42 cents or 3%.As of this writing, Tyler Craig held neutral options positions in Disney. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 5 Dividend Stocks Perfect for Retirees * 7 Reasons the Stock Market Rally Isn't Over Yet * 10 S&P 500 Stocks to Weather the Earnings Storm Compare Brokers The post Thursday's Vital Data: Intel, Netflix and Freeport McMoRan appeared first on InvestorPlace.
Investors need to pay close attention to Freeport-McMoRan (FCX) stock based on the movements in the options market lately.
Is the Party Just Getting Started for Iron Ore Miners?(Continued from Prior Part)Barclays upgrades iron ore price forecast Barclays is optimistic about the iron ore price outlook given the supply disruptions from Australian miners as well as Vale’s
Freeport-McMoRan Inc plans no dividend hikes, acquisitions or debt buybacks over the next two years as it focuses on expanding Indonesia's Grasberg copper and gold mine underground, its chief executive told Reuters on Tuesday. The strategy underscores Freeport's desire to keep Grasberg, one of the world's largest mines, the crown jewel of its operations even amid the complex task of excavating the largest underground mine ever developed at a cost of more than $15 billion. "For two years, we're going to be focused on this transition," CEO Richard Adkerson said on the sidelines of the World Copper Conference in Santiago.
The Zacks Analyst Blog Highlights: Berkshire Hathaway, AT&T, salesforce, Facebook and Freeport-McMoRan