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Freeport mcmoran Inc (NYSE: FCX) |
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Price: $39.9800
$-1.51 
-3.639%
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| Day's High:
| $40.65
| Week Perf:
| -0.67 %
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| Day's Low: |
$ 39.78 |
30 Day Perf: |
5.35 % |
| Volume (M): |
1,514 |
52 Wk High: |
$ 55.24 |
| Volume (M$): |
$ 60,795 |
52 Wk Avg: |
$44.73 |
| Open: |
$43.24 |
52 Wk Low: |
$33.98 |
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| Market Capitalization (Millions $) |
58,094 |
| Shares
Outstanding (Millions) |
1,453 |
| Employees |
27,200 |
| Revenues (TTM) (Millions $) |
25,455 |
| Net Income (TTM) (Millions $) |
4,399 |
| Cash Flow (TTM) (Millions $) |
-1,152 |
| Capital Exp. (TTM) (Millions $) |
4,808 |
Freeport Mcmoran Inc
Overview of Freeport-McMoRan Inc.
Freeport-McMoRan Inc. is one of the worlds largest publicly traded copper and gold mining companies based on reserves and production levels. The companys operations are primarily centered around copper, gold, and molybdenum mining, with a significant focus on sustainable practices and efficient production methodologies. Freeport-McMoRans assets extend globally, but the most notable of these is the Grasberg mine in Indonesia, which is recognized as having one of the largest reserves of copper and gold globally.
Key Assets
- Grasberg Mine: Located in the highlands of Indonesia, the Grasberg mine is one of Freeport-McMoRans crown jewels. Discovered in the late 1980s, the mine has been a significant contributor to the companys gold and copper production. It boasts extensive reserves, making it a crucial asset for both the company and the mining industry.
- PT Freeport Indonesia: This subsidiary operates the Grasberg mine and focuses on the extraction and processing of copper, gold, and silver ore. The company is significantly structured under the laws of Indonesia but also incorporated in Delaware, USA. Freeport-McMoRan owns approximately 90.64% of PT Freeport Indonesia, with the Indonesian government holding the remaining stake.
Marketing and Sales
PT Freeport Indonesia employs a strategic marketing approach for its copper concentrates, which contain substantial amounts of gold and silver. Sales are predominantly conducted under U.S. dollar-denominated contracts, primarily targeting Asian and European markets, as well as international trading companies. The majority of the copper concentrate produced is sold through long-term contracts, which align pricing with global metals markets, typically referencing the London Metal Exchanges prices for copper and the London Bullion Market for gold.
Revenue reporting from concentrate sales is adjusted to account for treatment, refining charges, royalties, and other financial instruments used for hedging against price fluctuations, as a significant portion of metals from concentrates may not be recoverable during the smelting process.
Investment in Smelters
Freeport-McMoRan engages in downstream integration by investing in smelters like Atlantic Copper and PT Smelting to help manage its concentrate marketing strategy. Approximately half of the concentrate produced is sold to these affiliated smelters, allowing Freeport-McMoRan to mitigate market volatility associated with treatment and refining charges. This strategy ensures steady demand for its concentrate production, although fluctuations in smelting and refining charges can impact financial outcomes for both the smelters and the mining operations.
Competitive Landscape
Freeport-McMoRan faces competition from other major mining companies. The competitive advantages of these companies can include greater financial resources and diversified mining assets scattered across various geographies. Success in this sector relies not only on the ability to extract valuable metals but also on the capability to manage operational efficiencies and attract qualified personnel within an increasingly competitive talent market.
Sustainability and Social Responsibility
In recent years, Freeport-McMoRan has signaled its commitment to sustainability and corporate social responsibility. The company is increasingly focused on minimizing environmental impacts, improving health and safety measures, and contributing positively to local communities. This approach aligns with broader industry trends towards more responsible mining practices.
Conclusion
Freeport-McMoRan Inc. continues to be a significant player in the global mining industry, driven by a combination of high-quality assets, strategic marketing initiatives, and a commitment to sustainable practices. As the demand for copper and gold remains strong, the company's ongoing operational efficiencies and market engagement will play a critical role in its future performance and contributions to the mining sector.
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 fell by |
FCX's Customers Net Profit Margin fell to |
-0.95 % |
14.69 %
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| Stocks on the Move
Published Wed, Aug 7 2024 8:01 PM UTC
An In-Depth Analysis of Freeport-McMoRan Inc. s Recent Market Turbulence: Understanding the Sell-Off and Future Prospects Freeport-McMoRan Inc. (NYSE: FCX), a prominent player in the mining industry, particularly in copper, has experienced a turbulent wave in the market throughout early August 2024. Following various news releases and market activities, the stock has faced a...
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| Stocks on the Move
Published Fri, Jul 19 2024 7:15 PM UTC
Freeport-McMoRan Inc. (FCX), a leading international mining company, has experienced a recent decline in its share price, raising concerns among investors. This article aims to decipher the factors behind the sell-off by examining several articles related to FCX s earnings prospects, return on capital trends, stock market momentum, and dividend pay-out ratio.Earnings Expecta...
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| Business Update
Published Tue, Jul 2 2024 2:54 PM UTC
Freeport Commences Commissioning of New Indonesian Smelter and Reports Positive Sales GrowthFreeport Mcmoran Inc, one of the world s leading mining companies, announced in a recent press release that its Indonesian subsidiary, PT Freeport Indonesia (PT-FI), has completed the construction of its new Manyar smelter in Gresik, Indonesia. This significant milestone was achieved ...
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| Dividend
Published Wed, Jun 26 2024 1:57 PM UTC
PHOENIX - Freeport-McMoRan Inc. (NYSE: FCX), a leading global mineral producer, has taken a significant step forward in delivering value to its shareholders. The company announced on August 1, 2024, that its Board of Directors has declared cash dividends of $0.15 per share on FCX s common stock, reflecting its commitment to rewarding investors. This dividend declar...
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| Freeport Mcmoran Inc
#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.
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| Per Share |
Current |
| Earnings (TTM) |
1.29 $ |
| Revenues (TTM) |
17.52 $
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| Cash Flow (TTM) |
- |
| Cash |
3.31 $
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| Book Value |
19.8 $
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| Dividend (TTM) |
0.6 $ |
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| Per Share |
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| Earnings (TTM) |
1.29 $
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| Revenues (TTM) |
17.52 $ |
| Cash Flow (TTM) |
- |
| Cash |
3.31 $
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| Book Value |
19.8 $ |
| Dividend (TTM) |
0.6 $ |
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On July 2 2024 the Freeport Mcmoran Inc provided following guidance
Freeport McMoRan Inc. (NYSE: FCX), a leading international mining company, announced significant strides in its Indonesian operations as of July 2024. The company shared financial guidance for the coming quarters, emphasizing two key developments: the commissioning of the newly constructed Manyar smelter in Gresik, Indonesia, and an update on its copper and gold sales for the second quarter of 2024.
The Manyar smelter, developed by PT Freeport Indonesia (PT-FI), a subsidiary of Freeport, reached substantial construction completion in June 2024. This milestone sets the stage for the commissioning phase, which has now commenced. The company anticipates that the smelter will begin producing copper cathod...
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5.16%