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Key Macro Updates For Freeport-McMoRan Investors Macro updates
Recently, Freeport-McMoRan (FCX) filed for an IPO (initial public offering) of its energy business. In our previous series, we analyzed the key features of Freeport’s energy IPO . After the divestiture of its energy assets, Freeport-McMoRan would be mainly producing copper, molybdenum, and gold.
Copper assets
Copper is still the most important part of Freeport-McMoRan’s portfolio. The previous chart shows the breakup of Freeport’s 2014 revenue. As you can see, Freeport gets almost 60% of its revenue from copper. It’s among the top three copper producers globally. Rio Tinto (RIO) and BHP Billiton (BHP) are the other major copper producers.
Freeport gets more than 7% of its revenue from gold. It produces gold from its mine in Indonesia. Freeport also produces silver from its Indonesian operations. Currently, Freeport forms 4.2% of the SPDR S&P Metals and Mining ETF (XME) and 3.56% of the Materials Select Sector SPDR ETF (XLB). ETFs are an alternate investment vehicle for investors who wish to avoid the hassles of picking individual stocks.
Series overview
Although Freeport’s share price has shown a strong correlation with energy prices over the last few quarters, it’s predominantly a copper producer. In this series, we’ll analyze the key macro factors that impact the copper industry.
The International Copper Study Group is a leading provider of copper industry statistics. Recently, it released its monthly report. We’ll discuss the key features of this report in the coming parts of this series.
Next, we’ll take a look at the recent movement in copper prices.
Continue to Next Part Browse this series on Market Realist:
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Freeport McMoRan Copper and Gold Inc.
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PRODUCER |
CODE : FCX |
ISIN : US35671D8570 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Freeport McMoran is a gold and copper producing company based in United states of america. Freeport McMoran produces gold, copper, cobalt, molybdenum and silver in Chile, in Congo Dem. Rep. of, in Indonesia and in Peru, develops copper in Peru, and holds various exploration projects in Chile. Its main assets in production are CANDELARIA, EL ABRA, CHINO - MILL, HENDERSON, MIAMI - ROM LEACH, MORENCI - MILL, OJOS DEL SALADO, MORENCI and MORENCI - ROM LEACH in Chile, GRASBERG, SIERRITA and BAGDAD in Indonesia, TENKE FUNGURUME and TYRONE in Congo Dem. Rep. of and CERRO VERDE in Peru, its main asset in development is SAFFORD in Peru and its main exploration properties are BAGDAD - ROM LEACH and CHINO - ROM LEACH in Peru and CERRO VERDE - MILL, CERRO VERDE - CRUSHED LEACH, CERRO VERDE - ROM LEACH, EL ABRA - ROM LEACH and CLIMAX in Chile. Freeport McMoran is listed in Germany and in United States of America. Its market capitalisation is US$ 68.1 billions as of today (€ 59.6 billions). Its stock quote reached its lowest recent point on March 06, 2020 at US$ 10.00, and its highest recent level on March 28, 2024 at US$ 47.02. Freeport McMoran has 1 448 000 000 shares outstanding. |