Freeport mcmoran Inc (FCX) |
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Price: $44.4800
$-0.13
-0.291%
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Day's High:
| $45.47
| Week Perf:
| 10.21 %
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Day's Low: |
$ 44.37 |
30 Day Perf: |
16.29 % |
Volume (M): |
14,482 |
52 Wk High: |
$ 45.47 |
Volume (M$): |
$ 644,168 |
52 Wk Avg: |
$38.69 |
Open: |
$44.96 |
52 Wk Low: |
$32.83 |
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Market Capitalization (Millions $) |
64,218 |
Shares
Outstanding (Millions) |
1,444 |
Employees |
24,700 |
Revenues (TTM) (Millions $) |
22,855 |
Net Income (TTM) (Millions $) |
3,751 |
Cash Flow (TTM) (Millions $) |
-2,327 |
Capital Exp. (TTM) (Millions $) |
4,824 |
Freeport Mcmoran Inc
We are one of the worlds largest copper and gold mining and production companies
in terms of reserves and production. We are also one of the lowest cost copper
producers in the world, after taking into account credits for related gold and
silver production. Our principal asset is the Grasberg mine, which we discovered
in 1988. Grasberg contains the largest single gold reserve and one of the largest
copper reserves of any mine in the world.
Our principal operating subsidiary is PT Freeport Indonesia, a limited liability
company organized under the laws of the Republic of Indonesia and incorporated
as a corporation in Delaware. We own approximately 90.64 percent of PT Freeport
Indonesia, and the Government of Indonesia owns the remaining approximate 9.36
percent. PT Freeport Indonesia mines, processes and explores for ore containing
copper, gold and silver. It operates in the remote highlands of the Sudirman
Mountain Range in the province of Papua, Indonesia, which is on the western
half of the island of New Guinea. PT Freeport Indonesia markets its concentrates
containing copper, gold and silver worldwide.
Marketing
PT Freeport Indonesia sells its copper concentrates, which contain significant
quantities of gold and silver, under United States dollar-denominated sales
agreements, mostly to companies in Asia and Europe and to international trading
companies. We sell substantially all of our budgeted production of copper concentrates
under long-term contracts with selling prices based on world metals prices (generally
the London Metal Exchange settlement prices for Grade A copper). Under these
contracts, initial billing occurs at the time of shipment and final settlement
on the copper portion is generally based on average prices for a specified future
period. Gold generally is sold at the average London Bullion Market Association
price for a specified month near the month of shipment.
Revenues from concentrate sales are recorded net of royalties, treatment and
all refining charges (including participation charges, if applicable, based
on the market prices of metals), and the impact of derivative financial instruments,
if any, used to hedge against risks from metals price fluctuations. Moreover,
because a portion of the metals contained in copper concentrates is unrecoverable
as a result of the smelting process, our revenues from concentrate sales are
also recorded net of allowances based on the quantity and value of these unrecoverable
metals. These allowances are a negotiated term of our contracts and vary by
customer. Treatment and refining charges represent payments to smelters and
refiners and are either fixed or in certain cases vary with the price of copper.
We sell a small amount of copper concentrates in the spot market.
Investment in Smelters
Our investment in smelters (Atlantic Copper and PT Smelting) serves an important
role in our concentrate marketing strategy. PT Freeport Indonesia generally
sells approximately one-half of its concentrate production to its affiliated
smelters, Atlantic Copper and PT Smelting, and the remainder to other customers.
Treatment charges for smelting and refining copper concentrates represent a
cost to PT Freeport Indonesia and income to Atlantic Copper and PT Smelting.
Through downstream integration, we are assured placement of a significant portion
of our concentrate production and operating hedges for treatment and refining
charges. While currently low smelting and refining charges have adversely affected
the operating results of Atlantic Copper, these low charges have benefited the
operating results to PT Freeport Indonesias mining operations.
Competition
We compete with other mining companies in the sale of our mineral concentrates
and the recruitment and retention of qualified personnel. Some competing companies
possess financial resources greater than ours and possess multiple mining assets
less geographically concentrated in a single area than ours.
Company Address: 333 North Central Avenue Phoenix 85004 AZ
Company Phone Number: 366-8100 Stock Exchange / Ticker: NYSE FCX
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Customers Net Income grew by |
FCX's Customers Net Profit Margin grew to |
8.58 % |
12.73 %
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Stock Performances by Major Competitors |
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Freeport Mcmoran Inc
Freeport-McMoRan Inc. (FCX) announced its financial and operating results for the fiscal year ending December 31, 2023. Despite facing some challenges, the company managed to achieve positive results and improve its profit margins. In terms of profit per share, FCX saw a significant jump of 30.43% in the 2023 financial year, earning $0.05 per share compared to $0.04 per share the previous year. However, the earnings per share dropped by -84.39%, falling from $0.31 per share to $0.05 per share in the same reporting period.
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Management Changes
Published Tue, Feb 6 2024 11:24 PM UTC
In the third quarter of 2023, Freeport-McMoRan Inc. achieved a return on average invested assets (ROI) of 6.7%, surpassing its average return on investment of 3.91%. This improvement in ROI can be attributed to the growth in net income as compared to the second quarter of 2023, where the ROI was 6.08%. Within the Basic Materials sector, Freeport-McMoRan Inc. is ranked 1...
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Dividend
Published Wed, Dec 20 2023 1:30 PM UTC
Freeport-McMoRan Inc, a leading international mining company, announced today that its Board of Directors made a key declaration that could potentially revolutionize its dividend strategy. In a significant step, the Board declared a cash dividend of $0.15 per share, payable on February 1, 2024, to FCX shareholders that have a record as of January 12, 2024. This new divi...
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Stock Transactions
Published Fri, Nov 17 2023 1:24 AM UTC
In a recent press release, Freeport-McMoRan Inc. (NYSE: FCX), a leading international mining company, disclosed that it has received an unsolicited mini-tender offer from TRC Capital Investment Corporation (TRC). This offer proposes to purchase up to 3,000,000 shares of FCX's common stock at a current below-market price of $32.20 per share. The company has strongly...
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Freeport Mcmoran Inc
Freeport Mcmoran Inc, a prominent mining company, has experienced a decline of -0.62% in its shares over the last month. However, when looking at the bigger picture, its shares have seen a significant increase of 35.19% over the past 12 months. Moreover, the company's shares currently trade at a level 6.4% above its 52-week low. The decline in the company's shares over the last month may raise concerns for investors, but it is important to consider the broader financial performance of Freeport Mcmoran Inc. In the July to September 2023 timeframe, the company reported a double-digit revenue rise of 16.41% to $5.82 billion. This growth in revenue led to a modest bottom-line increase of 10.71% to $0.31 per share.
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Per Share |
Current |
Earnings (TTM) |
1.05 $ |
Revenues (TTM) |
15.83 $
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Cash Flow (TTM) |
- |
Cash |
4.13 $
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Book Value |
18.92 $
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Dividend (TTM) |
0.6 $ |
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Per Share |
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Earnings (TTM) |
1.05 $
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Revenues (TTM) |
15.83 $ |
Cash Flow (TTM) |
- |
Cash |
4.13 $
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Book Value |
18.92 $ |
Dividend (TTM) |
0.6 $ |
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Mining & Exploration |
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Segment |
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of total Revenue |
Smelting & Refining |
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Segment |
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of total Revenue |
Molybdenum |
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Segment |
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of total Revenue |
U.S. oil & gas operations |
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Segment |
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of total Revenue |
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Freeport Mcmoran Inc's Operating Statistics
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Decrease / Increase
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Copper Production (millions of recoverable pounds) |
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Copper Sales (millions of recoverable pounds) |
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Copper Avg. Realized Price per Pound ($) |
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Gold Production (thousands of recoverable ounces) |
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Gold Sales (thousands of recoverable ounces) |
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Gold Avg. Realized Price per Ounce ($) |
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Molybdenum Production (millions of recoverable pounds) |
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Molybdenum Sales (millions of recoverable pounds) |
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Molybdenum Avg. Realized Price per Pound ($) |
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