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Freeport Reports 1Q15 Earnings: Key Takeaways for Investors (Part 1 of 5) Freeport-McMoRan’s 1Q earnings
Freeport-McMoRan (FCX) reported its 1Q15 earnings on April 23 before market opening. The results came in largely according to market expectations. On an adjusted basis, Freeport reported a loss of $0.06 per share. It incurred net charges of $2.4 billion, or $2.32 per share, primarily toward the reduction in carrying value of its energy assets.
After the earnings release, Freeport’s share price went down by ~4% in the initial trade. Its share price recovered somewhat to close at $20.07, down 2.43% from the previous day. The above chart shows FCX’s recent stock market performance.
Teck Resources (TCK), which reported its 1Q earnings on April 21, fell sharply since its coal segment was negatively hit by the slowdown in the steel industry. TCK currently forms 0.35% of the iShares North American Natural Resources ETF (IGE). Turquoise Hill Resources (TRQ) forms 0.18% of IGE.
What will we cover in this series?
In this series, we’ll analyze the 1Q earnings of Freeport-McMoRan (FCX). We’ll also look at its 2015 outlook. Freeport is among the leading copper producers. Southern Copper (SCCO) and Glencore plc (GLNCY) are the other leading copper miners.
About Freeport
Freeport-McMoRan (FCX) is a leading natural resources company. It’s among the top copper producers and also holds the position of largest molybdenum producer. Freeport also has interests in gold mining. Over the last couple of years, it has diversified into energy production. It now holds a significant portfolio of oil and natural gas assets.
In the next part, we’ll take a look at Freeport-McMoRan’s 1Q15 earnings.
Continue to Part 2 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$ 69.5 billions as of today (€ 65.2 billions). Its stock quote reached its lowest recent point on March 06, 2020 at US$ 10.00, and its highest recent level on April 23, 2024 at US$ 47.99. Freeport McMoran has 1 448 000 000 shares outstanding. |