FCX - Freeport-McMoRan Inc.
| Previous close | 7.59 |
| Open | 7.64 |
| Bid | 7.70 x 1200 |
| Ask | 7.71 x 3200 |
| Day's range | 7.51 - 7.83 |
| 52-week range | 4.82 - 14.68 |
| Volume | 7,857,330 |
| Avg. volume | 31,356,074 |
| Market cap | 11.274B |
| Beta (5Y monthly) | 2.21 |
| PE ratio (TTM) | N/A |
| EPS (TTM) | -0.17 |
| Earnings date | 22 Apr 2020 - 26 Apr 2020 |
| Forward dividend & yield | 0.20 (3.48%) |
| Ex-dividend date | 13 Jan 2020 |
| 1y target est | 12.04 |
- Reuters
Freeport-McMoRan confirms New Mexico mine workers have coronavirus
Operations at the mine have not been affected, though any employees that came into contact with the affected workers have been told to self-quarantine, Freeport spokeswoman Linda Hayes said. Freeport first alerted state officials last Thursday of the illnesses.
- Business Wire
Freeport-McMoRan Provides Update on Cerro Verde Mine in Peru
Freeport-McMoRan Inc. (NYSE: FCX) announced today that the Peruvian Government has extended the declaration of a National Emergency to April 12, 2020, associated with the Peruvian government’s efforts to contain the outbreak of COVID-19.
- Zacks
The Zacks Analyst Blog Highlights: Freeport-McMoRan, Teck Resources, Vale, Rio Tinto and Southern Copper
The Zacks Analyst Blog Highlights: Freeport-McMoRan, Teck Resources, Vale, Rio Tinto and Southern Copper
- Zacks
Freeport to Suspend Cash Dividend, Aims to Boost Cash Flows
Freeport (FCX) is reviewing its global copper and molybdenum operations to reduce costs and capital expenditure, and achieve the maximum cash flow in the current market conditions.
- Business Wire
Freeport-McMoRan Announces Suspension of First-Quarter Cash Dividend on Common Stock and Prudent Steps to Reduce Costs and Capital Spending Plans
Freeport-McMoRan Inc. (NYSE: FCX) announced today that in response to the COVID-19 pandemic and resulting global economic uncertainties, its Board of Directors will suspend the quarterly cash dividend of $0.05 per share previously planned for May 1, 2020. The declaration and payment of future dividends is at the discretion of the Board and will depend on FCX’s financial results, cash requirements, global economic conditions and other factors deemed relevant by the Board.
- Zacks
Freeport (FCX) Temporarily Halts Operations at Cerro Verde
Freeport (FCX) stated that Cerro Verde has been transitioned provisionally to a care and maintenance status.
- Business Wire
Freeport-McMoRan Issues Statement on Government Declaration of National Emergency in Peru
Freeport-McMoRan Inc. (NYSE: FCX) announced today that the Peruvian Government has issued a Supreme Decree and declaration of a National Emergency in its efforts to contain the outbreak of COVID-19. To comply with the Government’s requirements, Cerro Verde has temporarily transitioned to a care and maintenance status for a 15-day period which commenced on March 16, 2020. During this period, onsite personnel will be limited to critical activities necessary to maintain the facilities pending a return to normal operations.
- Simply Wall St.
Do Investors Have Good Reason To Be Wary Of Freeport-McMoRan Inc.'s (NYSE:FCX) 3.2% Dividend Yield?
Could Freeport-McMoRan Inc. (NYSE:FCX) be an attractive dividend share to own for the long haul? Investors are often...
- Zacks
Freeport Issues Operational Update, Aims to Boost Cash Flows
Freeport (FCX) is focused on enhancing performance amid potential economic threats from Coronavirus outbreak, market volatility and turmoil in the global oil market.
- Business Wire
Freeport-McMoRan Provides Operational Update
Freeport-McMoRan Inc. (NYSE: FCX) announced today continued progress in growing copper and gold volumes by 30 - 40 percent, reducing net unit cash costs of copper by 25 percent to approximately $1.30 per pound and more than doubling cash flows by 2021 compared with 2019.
- Zacks
Freeport (FCX) Wraps Up Senior Notes Offering Worth $1.3B
Freeport (FCX) plans to employ the net proceeds from the offering along with cash in hand to fund its purchase or redeem certain outstanding senior notes.
- Business Wire
Freeport-McMoRan Completes Sale of $1.3 Billion of Senior Notes and Announces Early Results of Offers to Purchase Certain Outstanding Senior Notes and Redemption of Remaining 2021 Senior Notes
Freeport-McMoRan Inc. (NYSE: FCX) announced today that it has completed the sale of $700 million aggregate principal amount of its 4.125% Senior Notes due 2028 and $600 million aggregate principal amount of its 4.250% Senior Notes due 2030.
- Zacks
Is the Options Market Predicting a Spike in Freeport (FCX) Stock?
Investors need to pay close attention to Freeport (FCX) stock based on the movements in the options market lately.
- Bloomberg
Rio Tinto Is Digging Mostly Into Its Pocket
(Bloomberg Opinion) -- A combination of hefty dividends and contracting output is turning the world’s second-largest miner into the poster child for a $1.5 trillion industry’s growth quandary.Rio Tinto Group announced a record $3.7 billion final dividend Wednesday, adding to $11.9 billion of cash returns already paid in 2019. Yet it produced less iron ore, copper and aluminum, leaving market prices to lift underlying earnings by 18%. Rio’s Pilbara operations stumbled early in the year. Its Mongolian copper mine, a key source of future production and the basis of a greener portfolio, is now not only sorely overdue and over-budget, but also tangled in international tax arbitration. The $86 billion mining giant isn’t alone. High dividend yields and pedestrian output have begun to define resources heavyweights that used to be known for the exact opposite. Diversified groups relied on their varied sources of cash to expand, but large-scale opportunities are scarcer than ever, and portfolios look far less diverse too, once coal and other less appealing assets have been carved off. At Rio, iron ore now accounts for three-quarters of its underlying Ebitda.For investors, it hasn’t been all bad news. Since Chief Executive Officer Jean-Sebastien Jacques took the helm in 2016, Rio’s total return including reinvested dividends adds up to an impressive 112%, outpacing most rivals.Yet much of that is due to generous payouts. For a company that digs stuff up for a living, this may not be sustainable — especially for one that aims to build a portfolio better aligned with a carbon-light global economy. It may also be an indication of just how hard it is to change. Rio paid shareholders in 2019 more than double its capital expenditure budget for the same year.One priority has been copper. Under Jacques, head of that unit until he became CEO, Rio has said it wants to add more of the red metal as its existing mines age, and will look at other green ingredients, those for rechargeable batteries and the like. Yet a unit set up to consider just such deals hasn’t sealed a single one despite considering more than 200 opportunities, and the company has suffered blow after blow in Mongolia. Its Oyu Tolgoi mine in the South Gobi accounts for only a fraction of Rio’s value today, but could dictate the company’s fortunes. So far, it’s mostly an unhelpful headache. The mine, which Rio holds through Canada-listed Turquoise Hill Resources Ltd., is one of the largest copper deposits around, and could produce an annual 550,000 metric tons of copper, almost as much as Rio produced last year, plus 450,000 ounces of gold. In the parlance of big miners, it moves the needle.Unfortunately, it also encapsulates everything that makes such projects so challenging: tough geography, messy local politics and complex geology. The cost of the largest, underground, portion has swelled to as much as $7.2 billion, and could rise again when a final estimate is published later in 2020. First production may now be be 30 months later than predicted. Fears of a cash call have dragged down Turquoise Hill shares.In the latest development, Rio announced last week it would begin arbitration proceedings to solve a tax dispute. Few arbitration deals yield significant victories — ask Barrick Gold Corp. and Antofagasta Plc, which won a $5.8 billion ruling against Pakistan last year — and they tend to irk host governments, so it’s a worrying sign. The risk is that Oyu Tolgoi becomes Rio Tinto’s own version of Freeport-McMoRan Inc.’s Indonesian pride and joy, Grasberg – wonderful in theory, nearly impossible in practice.Rio won’t drop Mongolia, and not just because of Jacques’ own attachment to the project. A copper option, however long-dated, is valuable, even if the company doesn’t yet jump in to buy out Turquoise Hill minority shareholders.But what then? Rio has manageable debt and ample cash — $9.2 billion in free cash flow in 2019, the highest level in almost a decade — and deals look cheaper as shares in copper-heavy Freeport and First Quantum Minerals Ltd. have roughly halved since 2018. Perhaps, though, not cheap enough to warrant wrestling with Freeport’s U.S. liabilities or First Quantum’s Zambian operations.Rio isn’t shrinking quite yet. It has exploration projects, and iron-ore production already did better in the second half, albeit still short of the company’s ultimate target. Yet with Oyu Tolgoi mired in arbitration and geological complexities, and the economy swiftly shifting, it might be time for Rio to consider just how creative it can get.To contact the author of this story: Clara Ferreira Marques at cferreirama@bloomberg.netTo contact the editor responsible for this story: Matthew Brooker at mbrooker1@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Clara Ferreira Marques is a Bloomberg Opinion columnist covering commodities and environmental, social and governance issues. Previously, she was an associate editor for Reuters Breakingviews, and editor and correspondent for Reuters in Singapore, India, the U.K., Italy and Russia.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Zacks
Why Is Freeport-McMoRan (FCX) Down 0.3% Since Last Earnings Report?
Freeport-McMoRan (FCX) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
- Business Wire
Freeport-McMoRan Announces Increase in Aggregate Purchase Price of Offers to Purchase Certain Outstanding Senior Notes
Freeport-McMoRan Inc. (NYSE: FCX) announced today that it has amended its previously announced tender offers to increase the aggregate purchase price from $800 million to $1.1 billion (such amount, subject to further increase, decrease or elimination, the Aggregate Maximum Tender Cap) that it may use to purchase a portion of its outstanding 4.00% Senior Notes due 2021, 3.55% Senior Notes due 2022, 3.875% Senior Notes due 2023 and 4.55% Senior Notes due 2024 (collectively, the Notes), upon the terms and conditions set forth in the Offer to Purchase, dated February 19, 2020. Holders of the Notes are urged to carefully read the Offer to Purchase, which sets forth a more detailed description of the tender offers, before making any decision with respect to the tender offers. No other terms of the previously announced tender offers have changed.
- Business Wire
Freeport-McMoRan Announces Upsizing and Pricing of $1.3 Billion of Senior Notes
Freeport-McMoRan Inc. (NYSE: FCX) announced today that it has priced an upsized offering of $1.3 billion of senior notes (collectively, the Notes). The offering size was increased to $1.3 billion from the previously announced $1.0 billion aggregate principal amount. Following is a summary of the two tranches of debt:
- Business Wire
Freeport-McMoRan Announces Offers to Purchase Certain Outstanding Senior Notes
Freeport-McMoRan Inc. (NYSE:FCX) announced today that it has commenced cash tender offers to purchase a portion of its outstanding 4.00% Senior Notes due 2021, 3.55% Senior Notes due 2022, 3.875% Senior Notes due 2023 and 4.55% Senior Notes due 2024 (collectively, the Notes) for an aggregate purchase price up to $800 million (such amount subject to increase, decrease or elimination, the Aggregate Maximum Tender Cap), subject to the acceptance priorities set forth in the table below.
- Business Wire
Freeport-McMoRan Announces Senior Notes Offering
Freeport-McMoRan Inc. (NYSE: FCX) announced today that it intends to offer, subject to market and other conditions, senior notes in two tranches in an underwritten registered public offering. FCX intends to use the net proceeds from the offering and, if necessary, cash on hand or available liquidity to fund its concurrent cash tender offers for up to $800 million aggregate purchase price of its 4.00% Senior Notes due 2021 (the "2021 notes"), 3.55% Senior Notes due 2022, 3.875% Senior Notes due 2023 and 4.55% Senior Notes due 2024 and the payment of accrued and unpaid interest, premiums, fees and expenses in connection therewith. To the extent all of the 2021 notes are not tendered and purchased in the tender offers, FCX may, but is not obligated to, use a portion of any remaining net proceeds from the offering to redeem all or a portion of the remaining 2021 notes in accordance with the provisions of the indenture governing the 2021 notes.
- Zacks
Zacks Market Edge Highlights: PALL, UGLD, CPER, FCX and X
Zacks Market Edge Highlights: PALL, UGLD, CPER, FCX and X
- Simply Wall St.
The Director of Freeport-McMoRan Inc. (NYSE:FCX), John Stephens, Just Bought 3782% More Shares
Freeport-McMoRan Inc. (NYSE:FCX) shareholders (or potential shareholders) will be happy to see that the Director, John...
- Reuters
Freeport CEO 'looking forward' to deals once expansion projects done
Demand for copper is projected to surge this decade because of the rising popularity of electric vehicles, which use twice as much copper as internal combustion engines. Despite that, Phoenix, Arizona-based Freeport's shares are worth half what they were in 2010, dragged down by uncertainty over the company's stake in a major Indonesian mine and debt from an ill-fated oil and gas venture.
- Simply Wall St.
Is Freeport-McMoRan Inc.'s (NYSE:FCX) CEO Salary Justified?
Richard Adkerson became the CEO of Freeport-McMoRan Inc. (NYSE:FCX) in 2003. First, this article will compare CEO...
