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Freeport mcmoran Inc   (FCX)
Other Ticker:  
 
    Sector  Basic Materials    Industry Metal Mining
   Industry Metal Mining
   Sector  Basic Materials
 
Price: $51.5300 $0.33 0.645%
Day's High: $52.075 Week Perf: -6.07 %
Day's Low: $ 51.29 30 Day Perf: 4.31 %
Volume (M): 9,650 52 Wk High: $ 55.24
Volume (M$): $ 497,265 52 Wk Avg: $40.88
Open: $51.51 52 Wk Low: $32.83



 Market Capitalization (Millions $) 74,409
 Shares Outstanding (Millions) 1,444
 Employees 24,700
 Revenues (TTM) (Millions $) 23,787
 Net Income (TTM) (Millions $) 3,864
 Cash Flow (TTM) (Millions $) -764
 Capital Exp. (TTM) (Millions $) 4,957

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
   


Customers Net Income fell by FCX's Customers Net Profit Margin fell to

-4.94 %

-5.52 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
CDE   -8.88%    
GORO   -6.54%    
MUX   -4.86%    
NEM   -5.54%    
RGLD   -4.29%    
SCCO   -9.09%    
• View Complete Report
   



Freeport Mcmoran Inc

Freeport Mcmoran Inc Surges with Outstanding Performance in Latest Fiscal Report

#As the financial results for Freeport-McMoRan Inc. (NYSE: FCX) were recently unveiled, it is evident that the company's commitment to sustainable practices has not only strengthened its standing in the industry but also yielded positive financial outcomes. In the first quarter of 2024, the company's revenue surged by an impressive 17.294% to $6.32 billion, outpacing most of its competitors in the Metal Mining industry. However, it is important to note that despite this impressive revenue growth, the company experienced a 30.43% decrease in earnings per share (EPS) to $0.32 per share.
These results indicate that Freeport-McMoRan's profitability experienced a decline, underscoring the challenges faced by the company. Nonetheless, it must be acknowledged that the focus on revenue growth and sustainable practices has shown promising results for the company. In comparison to the Metal Mining industry as a whole, Freeport-McMoRan's revenue growth in the first quarter of 2024 was significantly higher, with most competitors reporting a revenue rise of 9.15% relative to the same period the previous year.

Business Update

Freeport-McMoRan's 2023 Annual Report on Sustainability Highlights Responsible Practices and Positive Financial Performance

Published Fri, Apr 26 2024 8:39 AM UTC

Freeport-McMoRan Inc. (NYSE: FCX) has recently released its 2023 Annual Report on Sustainability, showcasing its commitment to environmental, social, and governance performance. With a long-standing history of responsible production practices, the company aims to meet evolving stakeholder expectations. Furthermore, Freeport-McMoRan has demonstrated impressive financial perfo...

Dividend

Freeport-McMoRan Inc. Revolutionizes Dividend Strategy with Performance-Based Payout Framework, Paving the Way for Greater Shareholder Returns.

Published Wed, Mar 27 2024 12:30 PM UTC

Freeport-McMoRan Inc. Introduces Innovative Performance-Based Dividend Payout Framework
In a groundbreaking move, Freeport-McMoRan Inc. (NYSE: FCX) announced a revolutionary change to its dividend strategy, implementing a performance-based payout framework. This new approach aims to align dividend payments with the company's financial performance and provide shareholders...

Freeport Mcmoran Inc

Freeport Mcmoran Inc Sees Impressive 30.43% Surge in Double Digit Income per Share in 2023 Fiscal Year

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.

Management Changes

Freeport-McMoRan Inc. Appoints Kathleen L. Quirk as President and CEO, Reports Improved ROI for Q3 2023, and Implements Performance-Based Dividend Framework

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...






 

Freeport Mcmoran Inc's Segments
 
Mining & Exploration
 Segment     of total Revenue
Smelting & Refining
 Segment     of total Revenue
Molybdenum
 Segment     of total Revenue
U.S. oil & gas operations
 Segment     of total Revenue
 
• View Complete Report
  Company Estimates  
  Revenue Outlook
Freeport Mcmoran Inc does not provide revenue guidance.

Earnings Outlook
Freeport mcmoran Inc does not provide earnings estimates.

 
Geographic Revenue Dispersion
United States
Other
Spain
Japan
Switzerland
Indonesia
Korea
Turkey
China

Freeport Mcmoran Inc's Operating Statistics Decrease / Increase
       
Copper Production (millions of recoverable pounds)    Copper Production (millions of recoverable pounds) Growth   
Copper Sales (millions of recoverable pounds)   Copper Sales (millions of recoverable pounds) Decline   
Copper Avg. Realized Price per Pound ($)   Copper Avg. Realized Price per Pound ($) Decline   
Gold Production (thousands of recoverable ounces)    Gold Production (thousands of recoverable ounces) Growth   
Gold Sales (thousands of recoverable ounces)    Gold Sales (thousands of recoverable ounces) Growth   
Gold Avg. Realized Price per Ounce ($)   Gold Avg. Realized Price per Ounce ($) Decline   
Molybdenum Production (millions of recoverable pounds)     
Molybdenum Sales (millions of recoverable pounds)     
Molybdenum Avg. Realized Price per Pound ($)   Molybdenum Avg. Realized Price per Pound ($) Decline   




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