| Freeport (FCX) Posts Narrower-Than-Expected Loss in Q4 | |
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Freeport-McMoRan Inc. FCX, formerly Freeport-McMoRan Copper & Gold Inc., is a mining giant that is primarily engaged in mineral exploration and development, mining and milling of copper, gold, molybdenum and silver, as well as the smelting and refining of copper concentrates.
Freeport’s copper business remains affected by the sluggish global economy and supply related issues. The difficult market conditions in Europe are still affecting copper markets. The slowdown in China (a major market for copper) adds to the concern. However, Freeport is aggressive managing its costs and continues to progress with its expansion initiatives.
Let’s have a quick look at this mining behemoth’s fourth-quarter release. Estimate Trend & Surprise History
Estimate for Freeport for the fourth quarter has moved from loss of 6 cents a month ago to a loss of 14 cents. Freeport has beaten estimates in the last one of the four quarters while missing in the other three. Earnings Freeport reported adjusted loss of 2 cents per share for the quarter, narrower than the Zacks Consensus Estimate of a loss of 14 cents. Revenues Freeport posted revenues of $3,795 million, missing the Zacks Consensus Estimate of $4,003 million. Key Stats/Developments to Note
In response to the weak oil and gas market environment, Freeport has announced additional initiatives to enhance its debt reduction plans. Freeport will continue to focus on cost and capital management and cash flow generation from its operations amid the prevailing weak commodity price environment. It is also taking further actions to increase its debt reduction plans and enhance shareholder value through asset sales and joint venture transactions. Zacks Rank
Currently, Freeport has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released.
Market Reaction
Freeport’s shares were up around 9% in pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Freeport’s earnings report! Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report FREEPT MC COP-B (FCX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Freeport McMoRan Copper and Gold Inc.
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PRODUCTEUR |
CODE : FCX |
ISIN : US35671D8570 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Freeport McMoran est une société de production minière d'or et de cuivre basée aux Etats-Unis D'Amerique. Freeport McMoran est productrice d'or, de cuivre, d'argent, de cobalt et de molybdène au Chili, au Perou, en Indonesie et en Republique Democratique Du Congo, en développement de projets de cuivre au Perou, et détient divers projets d'exploration au Chili. Ses principaux projets en production sont CANDELARIA, EL ABRA, CHINO - MILL, HENDERSON, MIAMI - ROM LEACH, MORENCI - MILL, OJOS DEL SALADO, MORENCI et MORENCI - ROM LEACH au Chili, GRASBERG, SIERRITA et BAGDAD en Indonesie, TENKE FUNGURUME et TYRONE en Republique Democratique Du Congo et CERRO VERDE au Perou, son principal projet en développement est SAFFORD au Perou et ses principaux projets en exploration sont BAGDAD - ROM LEACH et CHINO - ROM LEACH au Perou et CERRO VERDE - MILL, CERRO VERDE - CRUSHED LEACH, CERRO VERDE - ROM LEACH, EL ABRA - ROM LEACH et CLIMAX au Chili. Freeport McMoran est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 71,5 milliards US$ (66,8 milliards €). La valeur de son action a atteint son plus bas niveau récent le 06 mars 2020 à 10,00 US$, et son plus haut niveau récent le 25 avril 2024 à 49,40 US$. Freeport McMoran possède 1 448 000 000 actions en circulation. |