FCX - Freeport-McMoRan Inc.
12.15 +0.02 (0.16%)
After hours: 7:23PM EST
| Previous Close | 11.89 |
| Open | 11.90 |
| Bid | 0.00 x 45900 |
| Ask | 0.00 x 1000 |
| Day's Range | 11.86 - 12.22 |
| 52 Week Range | 9.60 - 20.25 |
| Volume | 23,115,328 |
| Avg. Volume | 20,234,217 |
| Market Cap | 17.577B |
| Beta (3Y Monthly) | 2.06 |
| PE Ratio (TTM) | 5.60 |
| EPS (TTM) | 2.17 |
| Earnings Date | Jan 24, 2019 |
| Forward Dividend & Yield | 0.20 (1.74%) |
| Ex-Dividend Date | 2019-01-14 |
| 1y Target Est | 15.23 |
- Zacks•13 hours ago
Earnings Preview: Freeport-McMoRan (FCX) Q4 Earnings Expected to Decline
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.
- Markit•3 days ago
See what the IHS Markit Score report has to say about Freeport-McMoRan Inc.
# Freeport-McMoRan Inc ### NYSE:FCX View full report here! ## Summary * Perception of the company's creditworthiness is negative but improving * Bearish sentiment is low * Economic output in this company's sector is contracting ## Bearish sentiment Short interest | Positive Short interest is extremely low for FCX with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting FCX. ## Money flow ETF/Index ownership | Neutral ETF activity is neutral. The net inflows of $11.00 billion over the last one-month into ETFs that hold FCX are not among the highest of the last year and have been slowing. ## Economic sentiment PMI by IHS Markit | Negative According to the latest IHS Markit Purchasing Managers’ Index (PMI) data, output in the Basic Materialsis falling. The rate of decline is significant relative to the trend shown over the past year. ## Credit worthiness Credit default swap | Negative The current level displays a negative indicator with a strengthening bias over the past 1-month. Although FCX credit default swap spreads are decreasing, they are near their highest levels for the past 1 year, which indicates the market's more negative perception of the company's credit worthiness. Please send all inquiries related to the report to score@ihsmarkit.com. Charts and report PDFs will only be available for 30 days after publishing. This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
- Motley Fool•3 days ago
Why Shares of Freeport-McMoRan Plummeted 46% in 2018
The price of copper dropped 20% through the year. But that wasn't the only factor that contributed to the stock's decline.
- Market Realist•4 days ago
Copper’s Diagnosis: How Severe Is China’s Slowdown?
Copper's Diagnosis: How Severe Is China’s Slowdown? ## China’s slowdown China’s slowdown appears to be the biggest challenge for global markets. The country’s slowdown has been amplified by the trade war with the US (SPY). Several indicators, including automotive sales, have pointed to a deeper slowdown in the world’s second-largest economy. What do China’s copper imports tell us about its economy? China (FXI) doesn’t have enough copper reserves. However, China is the largest copper importer. The country’s copper imports are seen as a leading indicator of its copper demand and economic activity. ## Imports fell In December, China imported 429,000 metric tons of unwrought copper. The imports fell 4.7% YoY (year-over-year) and were also lower on a sequential basis. China’s unwrought copper imports have fallen on a yearly basis for two consecutive months. China’s copper ore and concentrate imports fell to 1.46 million metric tons in December from 1.7 million tons in November. The imports also fell 11.5% YoY. In December, the imports were at the lowest level since February. ## Analysis The fiscal 2018 picture looks strong. Unwrought copper and copper ore imports rose on a yearly basis. However, what we’ve seen over the last few months is a slowdown in China’s copper imports. So far, leading copper miners including Freeport-McMoRan (FCX) have maintained that the underlying demand from China has been strong. However, falling Chinese copper imports might persuade copper miners to tone down their expectations for China’s copper demand (BABA). Apple (AAPL) also lowered its revenue forecast due to the slowdown in China’s sales. Read Why China Might Need a New Economic Model Now for more analysis of China’s slowdown.
- Zacks•8 days ago
Zacks Earnings Trends Highlights: Apple, Chevron and Freeport-McMoRan
Zacks Earnings Trends Highlights: Apple, Chevron and Freeport-McMoRan
- Market Realist•9 days ago
Why Goldman Sachs Expects Iron Ore Prices to Drop to $60
Why Goldman Sachs Expects Iron Ore Prices to Drop to $60 ## Resilient iron ore prices As we noted in Is the Party Over for Commodities as China Steel Feels the Heat? in November, iron ore prices started collapsing after Chinese steel mills’ margins gave way. In iron ore’s typical price pattern, prices once again started rising and increased ~11% in December. Prices have rallied back to over $70 per ton. ## Goldman Sachs says prices could drop to $60 According to Bloomberg, in a note released today, Goldman Sachs (GS) analysts, including Hui Shan, stated that while the industry’s fundamentals have improved, more supply is on the way, which should restrict the rise in prices. The bank expects iron ore prices to fall to $60 per ton in the next six months. Goldman’s analysts argue that $75 per ton for iron ore is not sustainable for two reasons: “First, part of the rally was fueled by mills restocking ahead of the Chinese New Year. Second, supply is set to increase in 2019.” ## Downside ahead for iron ore? Morgan Stanley (MS) also expects to see losses in the commodity (XME). On January 7, it said, “We’re iron ore bears from here, though, expecting falling crude steel output and growing seaborne supply to ultimately bring price back to the mid-low-$60s/ton.” Moreover, big miners such as Vale (VALE), BHP (BHP), and Rio Tinto (RIO) have been enjoying higher premiums on higher-grade ore due to China’s switch in a bid to control pollution. This switch was supported by higher margins. As margins have waned, it seems like the party might be over for iron ore miners, at least in the short term. The producers of metals such as copper (FCX) and aluminum (AA) have also been under pressure due to China’s muted demand outlook. You can read Why Iron Ore Is Bucking Falling Price Trends Unlike Other Metals for more on this topic.
- PR Newswire•9 days ago
Global EV Demand Drives Scramble for Fresh Supplies of Vital Metals
With global electric vehicle (EV) demand growth creating the potential for tight supplies in battery metals such as cobalt, multinational companies and industrialized nations are working to secure these critical metals as prices are projected to rise. The growing market for electric vehicles has led to much higher demand for battery metals such as cobalt, lithium and nickel. As the largest producer of EVs and largest consumer of battery metals in the world, China is aggressively looking to secure additional supplies of these critical minerals.
- Reuters•9 days ago
Indonesia forecasts drop in Grasberg copper concentrate exports in 2019
Copper concentrate exports from Indonesia's Grasberg mine, the world's second-largest copper mine, are forecast to plunge this year because of a lag in output as operations move from open pit to underground mining, a government official said on Wednesday. In 2019, copper concentrate exports are expected to drop to 200,000 tonnes from about 1.2 million tonnes last year, said Yunus Saefulhak, the director of minerals at the Energy and Mineral Resources Ministry. Grasberg's operator, U.S. miner Freeport McMoRan Inc , has documented the output decline, which is the result of the switch from the depleting open pit mine early this year but before a massive expansion of a coexisting underground mine ramps up to full production.
- Reuters•9 days ago
Indonesia sees Grasberg copper concentrate exports dwindling in 2019
* Exports of copper concentrate from Indonesia's Grasberg mine, the world's second-largest copper mine, are expected to drop to 200,000 tonnes this year from around 1.2 million tonnes in 2018, an official ...
- Motley Fool•9 days ago
Why Freeport-McMoRan Stock Slumped Nearly 14% in December
Economic uncertainty weighed on copper prices last month.
- Investopedia•14 days ago
Freeport-McMoRan Could Test 2016 Low
Freeport-McMoRan stock has reached critical support after a wickedly bearish 2018 and could break down in the coming months.
- Zacks•16 days ago
Implied Volatility Surging for Freeport-McMoRan (FCX) Stock Options
Investors need to pay close attention to Freeport-McMoRan (FCX) stock based on the movements in the options market lately.
Market Realist•18 days agoWhy Analysts Expect Higher Earnings for Vale Going Forward
As of December 21, Vale (VALE) had returned 5.5% year-to-date. While the stock’s gains haven’t been much in absolute terms, it has outperformed most of its close peers. In the same period, Rio Tinto (RIO) has returned -9.8%, BHP (BHP) has returned 2.4%, and Freeport McMoran (FCX) and Glencore (GLNCY) have fallen 47.2% and 32.8%, respectively.
Market Realist•21 days agoWhy Are Analysts Turning Around on Vale?
Among the three major seaborne iron ore miners we’re discussing in this series, Vale (VALE) stock has the highest percentage of “buy” ratings from 78% of the analysts covering it. At the end of April, 56.0% of analysts had “buy” ratings on the stock. Approximately 18.0% of analysts have given it “holds,” and 4.0% have given it “sells.” Vale’s target price suggests a potential 32% upside based on its current market price.
Market Realist•21 days agoIs Analysts’ Sentiment Taking a Turn for the Worse for BHP?
According to the data compiled by Thomson Reuters, 18 analysts are covering BHP Billiton (BHP) stock. Of these analysts, only 39.0% have given the stock “buys,” 56.0% have given it “holds,” and 5.0% have given it “sells.”
- Simply Wall St.•23 days ago
A Spotlight On Freeport-McMoRan Inc.’s (NYSE:FCX) Fundamentals
Freeport-McMoRan Inc. (NYSE:FCX) is a stock with outstanding fundamental characteristics. When we build an investment case, we need to look at the stock with a holistic perspective. In the case Read More...
- Zacks•25 days ago
Freeport (FCX) Wraps Up Deal With Indonesian Government
The completion of this deal is "win-win" outcome for all parties and marks the beginning of a new long-term partnership between Freeport (FCX) and the Republic of Indonesia.
Associated Press•27 days agoIndonesia gains majority ownership of giant Freeport mine
JAKARTA, Indonesia (AP) — Indonesia finalized the transfer of majority control over a giant gold and copper mine from U.S. company Freeport-McMoRan, the government said Friday, in a long-awaited deal that boosts the president's re-election campaign.
- Business Wire•28 days ago
Freeport-McMoRan Announces Successful Completion of Transaction with the Government of Indonesia, Marking the Beginning of a New Partnership
FCX expects its share of future cash flows of the expanded PT-FI asset base, combined with the cash proceeds received in the transaction, to be comparable to its share of anticipated future cash flows under PT-FI’s previous Contract of Work and joint venture arrangements with Rio Tinto (Joint Venture).
- The Wall Street Journal•28 days ago
[$$] Indonesia Wrests Control of Freeport's Grasberg Mine, Ending Long Battle
SA. Mr. Widodo is up for re-election in April and has positioned the takeover of Freeport’s Grasberg mine as a major accomplishment in his first term. , Indonesia now controls about 51% of the mine.
- Reuters•28 days ago
Indonesia closes long-awaited $3.85 bln Freeport deal
Indonesia's state-owned miner PT Inalum on Friday took control of the local unit of Freeport-McMoRan Inc, operator of the world's second-biggest copper mine Grasberg, with the closure of a $3.85 billion deal. The landmark deal, which hands Inalum a 51.23 percent stake in PT Freeport Indonesia, ends years of tough and often fractious negotiations over ownership rights to Grasberg as Jakarta pushed for greater control over its mineral wealth. "Today is a historical moment since Freeport began operating in Indonesia in 1973," a smiling President Joko Widodo told reporters at a press conference.
- Reuters•28 days ago
Freeport Indonesia has new mining permit valid to 2031
* A special mining permit given to Freeport McMoRan unit PT Freeport Indonesia on Friday is valid up to 2031, and could be extended to 2041, an energy ministry official said * Copper ore output from Freeport's ...
- GuruFocus.com•28 days ago
Freeport-McMoRan Declares Quarterly Dividend
Freeport-McMoRan Inc. (FCX) announced Wednesday that it will pay a quarterly dividend of 5 cents per ordinary share on Feb. 1. For the 52 weeks through Dec. 19, Freeport-McMoRan shares have tumbled 44% and the stock price is below the 200-, 100- and 50-day simple moving average lines. Warning! GuruFocus has detected 2 Warning Sign with FCX.
Market Realist•29 days agoFreeport-McMoRan: Is the Worst Over?
As we discussed in this series, falling copper prices have taken a toll on Freeport-McMoRan (FCX). Other miners including Southern Copper (SCCO), First Quantum Minerals (FM), and Rio Tinto (RIO) are also having a somber year. Falling copper prices aren’t the only concern for Freeport-McMoRan investors. The company is staring at a sharp fall in earnings in 2019 as the Grasberg mine transitions from overground to underground operations. Freeport-McMoRan still needs to sort out the environmental claims made by the Indonesian government.
