| Freeport-McMoRan Registers Energy Biz for Initial Public Offering | |
| | |
|
Freeport-McMoRan to Offer Up Energy Assets: Will It Be Enough? Freeport’s energy business goes public
Freeport-McMoRan (FCX) has finally announced an IPO (initial public offering) for its energy business after filing a registration statement with the US SEC (Securities and Exchange Commission). The IPO registration comes almost two months after Freeport first disclosed its plans to launch the IPO during its 1Q 2015 earnings conference call.
Series overview
In this series, we’ll analyze how Freeport-McMoRan investors could be affected by an IPO for the firm’s energy business.
Freeport acquired these energy assets for a consideration of $9 billion two years ago. The logic behind a predominantly copper producer entering the energy business was to create a diversified natural resources company. But the bet went sideways when energy prices tumbled toward the end of last year.
The impact of lower energy prices is quite visible on Freeport’s share price. It has fallen by ~15% this year, as you can see in the chart above.
Together, Freeport and Teck Resources (TCK) form 1.5% of the iShares North American Natural Resources ETF (IGE).
Diversification saga
Freeport-McMoRan wasn’t alone in its desire to create a diversified company. BHP Billiton (BHP) also tried its hand at this. Earlier this year, however, it spun off its non-core assets into a new entity called South32 (SOUHY). South32 will have aluminum, manganese, silver, and coal assets. This would leave BHP with mainly iron ore, petroleum, and copper assets.
In this series, we’ll also look at how things are moving in Freeport-McMoRan’s core copper market. First, we’ll consider the company’s energy IPO in the next part of this series.
Continue to Next Part Browse this series on Market Realist:
|
|
|
Freeport McMoRan Copper and Gold Inc.
|
|
PRODUCTEUR |
CODE : FCX |
ISIN : US35671D8570 |
|
| |
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 en Republique Democratique Du Congo, et détient divers projets d'exploration au Chili. Ses principaux projets en production sont CANDELARIA, EL ABRA, HENDERSON, CHINO - MILL et OJOS DEL SALADO au Chili, GRASBERG, SIERRITA et BAGDAD en Indonesie, TENKE FUNGURUME, TYRONE, MIAMI - ROM LEACH, MORENCI - MILL, MORENCI et MORENCI - ROM LEACH en Republique Democratique Du Congo et CERRO VERDE au Perou, son principal projet en développement est SAFFORD en Republique Democratique Du Congo et ses principaux projets en exploration sont CERRO VERDE - ROM LEACH, EL ABRA - ROM LEACH, CERRO VERDE - MILL, CERRO VERDE - CRUSHED LEACH, BAGDAD - ROM LEACH, CHINO - ROM LEACH et CLIMAX au Chili. Freeport McMoran est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 72,1 milliards US$ (63,2 milliards €). La valeur de son action a atteint son plus bas niveau récent le 06 mars 2020 à 10,00 US$, et son plus haut niveau récent le 17 avril 2024 à 49,82 US$. Freeport McMoran possède 1 448 000 000 actions en circulation. |