|Bid||55.60 x 800|
|Ask||55.61 x 800|
|Day's Range||55.34 - 56.20|
|52 Week Range||37.66 - 59.25|
|PE Ratio (TTM)||11.42|
|Forward Dividend & Yield||2.20 (3.96%)|
|1y Target Est||N/A|
Freeport-McMoRan’s shares had their worst day in two years after the company said that its troubles mining copper in Indonesia were dragging on.
Freeport-McMoRan (FCX) released its 1Q18 earnings today and reported revenues of $4.8 billion. Freeport’s 1Q18 adjusted EPS (earnings per share) from continuing operations were $0.46, versus $0.13 in the corresponding quarter last year. Despite the sharp yearly increase, Freeport’s 1Q18 earnings fell short of expectations.
The Aughinish alumina refinery, near Limerick, is a key part of Europe’s industrial supply chain, feeding supplies to smelters that produce aluminium for carmakers such as BMW and Volkswagen as well as Airbus, the manufacturer of the A380 superjumbo. Rio, which is the biggest supplier of bauxite to Aughinish and buyer of its alumina, declared force majeure on its contracts with Rusal earlier this month after the Russian company was cut off from doing business in US dollars. The company can now resume trading with the plant under contracts signed before the sanctions were announced, after the US Treasury on Monday extended the deadline for US and non-US citizens to wind up business with Rusal to late October.
Freeport-McMoran, the world’s largest publicly traded copper company continues to work on a deal to bring local ownership of its giant Indonesian copper and gold mine to 51 per cent. The Phoenix-based company said on Tuesday it was engaging with Inalum, a state-backed company, and its joint venture partner Rio Tinto on a potential deal that would pave the way for a multi-billion dollar underground expansion of the Grasberg mine. Freeport had hoped to reach a deal by the end of June when a temporary mining license is due to expire.
A softer Trump administration stance on sanctions imposed against Russian aluminum giant Rusal sank aluminum prices and sent aluminum stocks lower on Monday.
On April 18, BHP Billiton (BHP) released its operational review of the nine months ended March 2018. Iron ore (PICK) volumes are key to BHP Billiton’s revenues and earnings, as iron ore is the largest commodity produced by the company.
Alcoa (AA) released its 1Q18 earnings on April 18, 2018, after the markets closed. The company reported revenues of $3.09 billion in 1Q18—compared to $3.17 billion in 4Q17 and $2.65 billion in 1Q17. Alcoa’s 1Q18 earnings were better than expected.
BHP Billiton (BHP) trims iron-ore output guidance for fiscal 2018. Northward movement in the price of this major steel-making product is expected to drive the company's performance.
Grasberg issues could dominate Freeport’s 1Q18 earnings call. There are several uncertainties over Freeport’s Indonesia operations. See Uncertainties Surround Freeport’s Indonesia Operations to look at the issues Freeport is grappling in Indonesia. The Grasberg issues could also be affecting Freeport’s valuation.
In the previous part of this series, we noted that Freeport-McMoRan (FCX) expects its 1Q18 copper shipments to be similar to the sequential quarter. Meanwhile, for commodity producers Antofagasta (ANTO), Southern Copper (SCCO), and Rio Tinto (RIO)(TRQ), commodity prices have a higher impact on earnings than shipments. In this article, we’ll see how commodity prices played out in 1Q18 amid the US-China trade war and how it could impact Freeport’s financial performance.
Freeport-McMoRan (FCX) is scheduled to release its 1Q18 earnings on April 24. In this article, we’ll see what analysts are projecting for Freeport’s 1Q18 revenues. Freeport managed to beat its revenue estimates by a wide margin in the last two consecutive quarters.
Freeport-McMoRan (FCX), the leading US-based copper miner, is slated to release its 1Q18 earnings on April 24. Teck Resources (TECK) is also expected to release its quarterly earnings on the same day, followed by First Quantum Minerals’ (FM) earnings release on April 26. Since it’s quarterly earnings season, diversified miners including BHP Billiton (BHP) will likely only release their operational data, as these companies only release their half-yearly and annual financial results.
In December 2017, Rio Tinto plc (LSE:RIO) released its most recent earnings announcement, which suggested that the business experienced a large tailwind, leading to a high double-digit earnings growth ofRead More...
Aluminum prices have skyrocketed this week amid an uncertain supply future for the industrial metal. The U.S. issued sanctions on Russia that affected aluminum producer United Co. Rusal. Since the sanctions were enacted, aluminum prices have rallied about 20%.
U.K. stocks rose for a second straight day on Wednesday, moving higher after a disappointing reading on Britain’s inflation reduced pressure on the Bank of England to raise rates next month.
PLC (RIO) said quarterly exports of iron ore from its Australian mines rose 5% on-year because of fewer weather-related setbacks and continued productivity improvements, although shipments fell 11% on the quarter immediately prior. The Anglo-Australian company, one of the world’s top iron-ore exporters, reported iron ore shipments of 80.3 million metric tons from Australia’s western Pilbara region in the three months through March. “Production benefited from fewer weather disruptions than the first quarter of 2017, along with the ramp up of Silvergrass and the continuing implementation of productivity improvements across the integrated system,” the miner said.
Rio Tinto expects to complete the sale of two aluminium smelters in Europe in spite of the US sanctions against Rusal, the Russian metals group that is big supplier of raw material to both plants. As part ...
Global miner Rio Tinto on Wednesday flagged possible changes to its 2018 aluminium output following U.S. sanctions on its Russian partner Rusal earlier this month. Rio, which reported a 5 percent rise in first-quarter iron ore shipments in the March quarter, has declared force majeure on some customer contracts after U.S. sanctions on UC Rusal , the world's second biggest aluminium producer. Rio kept its forecast for aluminium production steady in its first quarter production report.
Bloomberg's David Stringer reports on the fallout for Rio Tinto from U.S. sanctions on United Co. Rusal on aluminum production and talks about the price of iron ore. Stringer speaks on "Bloomberg ...
"We delivered a solid operational performance across most commodities in the first quarter of 2018," Rio Tinto Chief Executive Jean-Sebastien Jacques said in a statement. The Anglo-Australian miner maintained its iron ore production guidance for this year of 330 million to 340 million tonnes. Rio Tinto also held its 2018 copper guidance, but said its aluminium forecast of 3.5 to 3.7 million tonnes would be adjusted after it completed the sale of some smelters.
LONDON/MOSCOW (Reuters) - Russia's Rusal may be forced to divest most of its portfolio of overseas operations if the aluminium giant cannot restructure them to evade U.S. sanctions and ensure a flow of raw materials. U.S. sanctions imposed against key allies of Russian President Putin have already started to cripple United Company Rusal's extensive string of international operations from Sweden to Guinea to Australia. Rusal, the world's second biggest aluminium producer behind China Hongqiao Group Ltd, is heavily dependent on its international network of mines and refineries.
Alcoa is scheduled to release its 1Q18 earnings on April 18. In the previous articles, we’ve seen what analysts are projecting for Alcoa’s 1Q18 earnings and the key updates that markets might watch for in the company’s 1Q18 earnings call. Let’s now see how analysts are rating the stock ahead of its 1Q18 earnings release.
The U.S. sanctions on United Co. Rusal that have sent aluminum prices surging should be great news for rival producers like Rio Tinto Group.
In the previous article, we saw what analysts are projecting for Alcoa’s (AA) 1Q18 earnings. In this part, we’ll look at the key updates that markets might watch for in Alcoa’s 1Q18 earnings call. The macro environment has been quite volatile for aluminum.