| How Did the Copper Industry Fare in 3Q15? | |
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Copper Producers: Their 3Q15 Earnings and Industry Outlook The 3Q15 earnings season
The earnings season for 3Q15 is nearly over. Most copper companies have reported their earnings for the quarter. In this series, we’ll explore some of the key highlights of major copper companies’ 3Q15 earnings. We’ll also look at what various copper companies said on the industry outlook during their respective 3Q15 earnings calls.
Lackluster year
It’s been a lackluster year for companies operating in the commodities space (COMT). Copper prices dipped to six-and-a-half-year lows in 3Q15. Prices did recover somewhat during the end of September but again resumed their downslide in November, hitting fresh six-and-a-half-year lows.
In the above graph, you can see the recent movement in copper producers’ stock. It’s important to note that 2015 has been nothing short of a nightmare for the copper industry. Freeport-McMoRan (FCX), Teck Resources (TCK), and Glencore (GLNCY) are trading near multi-year lows.
Stocks have fallen
FCX, TCK, and GLNCY have shed more than two-thirds of their respective market capitalization this year. Along with falling commodity prices, these companies are battling a surging debt pile. The deadly duo of lower commodity prices and higher leverage is weighing heavily on these companies’ share prices.
However, Southern Copper (SCCO) and Turquoise Hill Resources (TRQ) have been relatively better off. SCCO and TRQ have respectively lost 9.1% and 15.1%, respectively, so far in 2015.
The Chinese slowdown has spelled doom for copper companies. Copper producers have announced production cutbacks to survive in the current low price environment. In the next part, we’ll explore copper companies’ 3Q15 shipments and future production plans.
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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 70,9 milliards US$ (66,5 milliards €). La valeur de son action a atteint son plus bas niveau récent le 06 mars 2020 à 10,00 US$, et son plus haut niveau récent le 22 avril 2024 à 48,95 US$. Freeport McMoran possède 1 448 000 000 actions en circulation. |