|Bid||11.89 x 3100|
|Ask||11.90 x 3000|
|Day's Range||11.51 - 12.05|
|52 Week Range||10.59 - 20.25|
|Beta (3Y Monthly)||2.45|
|PE Ratio (TTM)||5.99|
|Earnings Date||Jan 23, 2019 - Jan 28, 2019|
|Forward Dividend & Yield||0.20 (1.76%)|
|1y Target Est||16.33|
Concerns about the Chinese economy have been among the major risks spooking investors globally. Concerns about China’s growth outlook impact metal and mining companies (SPY) like Freeport-McMoRan (FCX). China (FXI) is also a major market for US giants like Ford (F) and Apple (AAPL). On November 14, China released several economic indicators.
The Fed has raised rates three times in 2018. The Fed appears to be on track to raise rates for the fourth time next month. On multiple occasions, President Trump has spoken against the Fed’s tightening.
Market volatility drove investors towards gold last month, leaving the shares of miners more exposed to copper and silver in the dust.
Since the start of this year, there has been a severe fall in the prices of almost all commodities (COMT) like copper, nickel, lead, cobalt, and gold (GLD). Factors such as the stronger US dollar (UUP), higher interest rates, weakness in emerging markets, and increasing trade tensions have been the major reasons for the slump in commodities. The trade war has started taking its toll on China (FXI), which is a negative for commodities, as China is the mainstay for many commodity producers.
In the previous part, we discussed China’s steel and aluminum exports. While China is the largest steel and aluminum exporter, it’s the largest copper importer. Copper mining is concentrated in Latin America.
In this article I am going to calculate the intrinsic value of Freeport-McMoRan Inc (NYSE:FCX) by taking the foreast future cash flows of the company and discounting them back to Read More...
As we noted in the previous part, metals and mining stocks including Freeport-McMoRan (FCX), U.S. Steel Corporation (X), and AK Steel (AKS) are trading with a double-digit year-to-date loss. The sector has underperformed broader equity markets. The SPDR S&P 500 ETF (SPY) is still positive for the year. In this part, we’ll see what’s really wrong with commodities and commodity producers.
Broader equity markets have whipsawed this year. The SPDR S&P 500 ETF (SPY) fell sharply last month. SPY has risen 3.8% YTD (year-to-date) based on the closing prices on November 5. While the broader market indices are still in the green for the year, metals and mining stocks have been a different ballgame.
NEW YORK, Oct. 31, 2018 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.
Freeport has lost a third of its value so far this year -- is something wrong or will the company make it through this downdraft in one piece?
Among the assets Barrick will acquire in the $5.4 billion deal for Randgold is Kibali, a mine Bristow built from scratch in the Democratic Republic of Congo. While that operation has been a crowning achievement for Randgold, it’s set to challenge Bristow’s trouble-shooting skills even before he takes over as chief executive officer of the enlarged company.
The industrial metal known for predicting turns in the global economy is flashing red signs about growth, which could foretell more trouble for stocks
“I certainly don’t consider it to be something that we would look at in the near term given our share price,” Adkerson told analysts Wednesday on Freeport’s third-quarter earnings conference call. Despite forecasts that the global copper market is headed to annual supply deficits, prices of the red metal have declined this year amid concern trade tensions may affect global demand. Freeport’s shares have also dropped in 2018, also partly because of uncertainty about when the Grasberg issues will be resolved.
Inc. reported its third-quarter profit nearly doubled from a year earlier as the miner increased its output of copper, its most important product, even though realized prices for the red metal sagged. On an adjusted basis, Freeport earned 35 cents a share, more than the 33 cents a share analysts polled by FactSet expected. For the full year, Freeport maintained its earlier forecast for copper sales volumes of about 3.8 billion pounds.
Freeport (FCX) delivers strong Q3 results on the back of continued focus on productivity, capital discipline and cost management.
Freeport-McMoRan (FCX) delivered earnings and revenue surprises of 6.06% and 12.06%, respectively, for the quarter ended September 2018. Do the numbers hold clues to what lies ahead for the stock?
Freeport-McMoRan’s third-quarter profit nearly doubled from a year earlier as the miner increased its output of copper, its most important product, even though realized prices for the red metal sagged....
Investors need to pay close attention to Freeport-McMoRan (FCX) stock based on the movements in the options market lately.
In the previous article, we noted that several miners, including BHP Billiton (BHP), Vale (VALE), and Rio Tinto (RIO), have announced share buybacks. While stock prices get all the attention, for mining companies with a significant amount of debt, we should also look at EV (enterprise value). Freeport has an EV of ~$28 billion.
For Q3, Freeport (FCX) expects consolidated sales volumes for copper and gold to be 970 million pounds and 700,000 ounces, respectively.
Earlier this year, Goldman Sachs said US stock buyback authorizations could top $1 trillion this year, which would be the highest absolute level of buybacks since 2007. Recently, Alcoa (AA), the largest US-based aluminum producer, announced a $200 million share buyback. Other metals and mining companies including Vale (VALE) and BHP Billiton (BHP) have also announced share buybacks this year.
In the previous article, we learned what analysts are projecting for Freeport-McMoRan’s (FCX) third-quarter earnings results. In this article, we’ll look at the key updates the markets might be expecting on Freeport’s third-quarter earnings call. Grasberg concerns have dominated Freeport’s earnings calls for the last several quarters.
Freeport-McMoRan (FCX) is scheduled to release its third-quarter earnings results on October 24. Analysts polled by Thomson Reuters expect Freeport to post revenue of $4.5 billion in the third quarter. Freeport posted an adjusted EBITDA of $1.6 billion in the third quarter of 2017.