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(Adds details, shares) Jan 26 (Reuters) - Diversified U.S. miner and oil producer Freeport-McMoRan Inc said it would look to reduce its hefty debt load and reported a lower-than-expected adjusted loss in the fourth quarter, squeezed by plunging commodity prices and flagging Chinese demand. Shares of the company were up 8.6 pct in premarket trading on Tuesday. The Phoenix, Arizona-based company said it was looking to advance the sale of interests in certain mining assets to help reduce its debt, which stood at $20.43 billion at the end of December, nearly four times its market value of about $5 billion. The company, which is the biggest U.S.-listed copper miner, suspended its annual dividend and made deeper cuts in capital spending and copper production, in early December as it looked for ways to preserve cash in the fifth year of a commodity price downturn. The company's average realized price for copper in the quarter fell to $2.18 a pound, from $2.95 in the same period last year. Copper prices are expected to hit their lowest average in more than a decade this year due to weak demand from China, the metal's top consumer, and an over supplied market. Excluding charges of $4.1 billion, the company reported an adjusted net loss of $21 million, or 2 cents a share, for the quarter ended December 31, above analysts' estimates of a loss of 17 cents. Revenue fell nearly 28 percent to $3.8 billion. (Reporting by Nicole Mordant in Vancouver and Narottam Medhora in Bengaluru; Editing by Shounak Dasgupta)
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Freeport McMoRan Copper and Gold Inc.
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PRODUCTEUR |
CODE : FCX |
ISIN : US35671D8570 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Freeport McMoran est une société de production minière d'or et de cuivre basée aux Etats-Unis D'Amerique. Freeport McMoran est productrice d'or, de cuivre, d'argent, de cobalt et de molybdène au Chili, au Perou, en Indonesie et en Republique Democratique Du Congo, en développement de projets de cuivre au Perou, et détient divers projets d'exploration au Chili. Ses principaux projets en production sont CANDELARIA, EL ABRA, CHINO - MILL, HENDERSON, MIAMI - ROM LEACH, MORENCI - MILL, OJOS DEL SALADO, MORENCI et MORENCI - ROM LEACH au Chili, GRASBERG, SIERRITA et BAGDAD en Indonesie, TENKE FUNGURUME et TYRONE en Republique Democratique Du Congo et CERRO VERDE au Perou, son principal projet en développement est SAFFORD au Perou et ses principaux projets en exploration sont BAGDAD - ROM LEACH et CHINO - ROM LEACH au Perou et CERRO VERDE - MILL, CERRO VERDE - CRUSHED LEACH, CERRO VERDE - ROM LEACH, EL ABRA - ROM LEACH et CLIMAX au Chili. Freeport McMoran est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 73,1 milliards US$ (68,3 milliards €). La valeur de son action a atteint son plus bas niveau récent le 06 mars 2020 à 10,00 US$, et son plus haut niveau récent le 26 avril 2024 à 50,50 US$. Freeport McMoran possède 1 448 000 000 actions en circulation. |