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Freeport-McMoRan Inc (FCX.N)

FCX.N on New York Stock Exchange

10.47USD
20 Sep 2019
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Latest Key Developments (Source: Significant Developments)

Freeport-Mcmoran Announces Senior Notes Offering
Thursday, 1 Aug 2019 

Aug 1 (Reuters) - Freeport-McMoRan Inc ::FREEPORT-MCMORAN ANNOUNCES SENIOR NOTES OFFERING.FREEPORT-MCMORAN - TO USE NET PROCEEDS, IF NECESSARY, CASH ON HAND OR AVAILABLE LIQUIDITY, TO FUND REDEMPTION OUTSTANDING 6.875% SENIOR NOTES DUE 2023.  Full Article

Freeport-McMoran Reports Second-Quarter And Six-Month 2019 Results
Wednesday, 24 Jul 2019 

July 24 (Reuters) - Freeport-McMoRan Inc ::REPORTS SECOND-QUARTER AND SIX-MONTH 2019 RESULTS.Q2 LOSS PER SHARE $0.05.Q2 ADJUSTED LOSS PER SHARE $0.04.Q2 EARNINGS PER SHARE ESTIMATE $-0.05 -- REFINITIV IBES DATA.INC - EXECUTION OF UNDERGROUND RAMP-UP AT GRASBERG IS ADVANCING ACCORDING TO PLAN.CONSOLIDATED SALES TOTALED 807 MILLION POUNDS OF COPPER, 189 THOUSAND OUNCES OF GOLD AND 24 MILLION POUNDS OF MOLYBDENUM IN SECOND-QUARTER.INC - TARGET INCREASING VOLUMES AND CASH FLOWS FROM GRASBERG MINERALS DISTRICT.INC - SECOND-QUARTER 2019 COPPER SALES OF 807 MILLION POUNDS WERE IN LINE WITH APRIL 2019 ESTIMATE OF 800 MILLION POUNDS.CONSOLIDATED SALES FOR YEAR 2019 ARE EXPECTED TO APPROXIMATE 3.3 BILLION POUNDS OF COPPER, 0.8 MILLION OUNCES OF GOLD.INC - CAPITAL EXPENDITURES FOR YEAR 2019 ARE EXPECTED TO APPROXIMATE $2.6 BILLION, INCLUDING $1.6 BILLION FOR MAJOR MINING PROJECTS.INC - MINE SEQUENCING CHANGES IN GRASBERG OPEN PIT RESULTED IN LOWER SECOND-QUARTER 2019 GOLD SALES OF 189 THOUSAND OUNCES.INC - AN INITIAL PROJECT TO DEVELOP LONE STAR LEACHABLE ORES COMMENCED IN 2018, WITH FIRST PRODUCTION EXPECTED BY END OF 2020.INC - AT JUNE 30, 2019, CONSOLIDATED DEBT TOTALED $9.9 BILLION AND CONSOLIDATED CASH TOTALED $2.6 BILLION.INC QTRLY AVERAGE REALIZED PRICE PER POUND FOR COPPER WAS $2.72 VERSUS $3.07 PER POUND.INC - INITIAL PRODUCTION FROM LONE STAR LEACHABLE ORES IS EXPECTED TO AVERAGE APPROXIMATELY 200 MILLION POUNDS OF COPPER PER YEAR.  Full Article

Freeport-Mcmoran Says Impact On Q2 2019 Revenue Of Lower Copper Prices Is Estimated To Be About $260 Million
Monday, 1 Jul 2019 

July 1 (Reuters) - Freeport-McMoRan Inc ::FREEPORT-MCMORAN PROVIDES UPDATE.FREEPORT-MCMORAN INC - AFFIRMS 2019 CONSOLIDATED COPPER AND GOLD SALES GUIDANCE.FREEPORT-MCMORAN INC - EXPECTS ITS CONSOLIDATED COPPER SALES VOLUMES FOR SECOND-QUARTER 2019 TO APPROXIMATE APRIL 2019 ESTIMATES OF 800 MILLION POUNDS.FREEPORT-MCMORAN INC - SALES OF GOLD FOR SECOND-QUARTER 2019 ARE EXPECTED TO APPROXIMATE 190 THOUSAND OUNCES.FREEPORT-MCMORAN -CURRENTLY EXPECTS CONSOLIDATED SALES FOR 2019 TO BE IN-LINE WITH APRIL 2019 ESTIMATES OF 3.3 BILLION POUNDS OF COPPER & 0.8 MILLION OUNCES OF GOLD.FREEPORT-MCMORAN - IN 2023, PT-FI EXPECTS TO PRODUCE AVERAGE OF 130,000 METRIC TONS OF ORE/DAY FROM 5 PRODUCTION BLOCKS SPANNING 335,000 SQUARE METERS.FREEPORT-MCMORAN- EXPECTS TO GENERATE ADJUSTED EBITDA OF ABOUT $430 MILLION IN Q2 2019.FREEPORT-MCMORAN INC - IN 2022, PT-FI EXPECTS TO PRODUCE FROM THREE PRODUCTION BLOCKS IN DMLZ UNDERGROUND MINE SPANNING 200,000 SQUARE METERS.FREEPORT-MCMORAN INC - IN Q2 EXPECTS TO RECORD AN APPROXIMATE $0.05 PER SHARE LOSS TO NET INCOME BEFORE ANY NON-RECURRING ITEMS.FREEPORT-MCMORAN -EXPECTS MARK-TO-MARKET IMPACT OF LOWER COPPER PRICES IN MARCH 31, 2019 QUARTER PROVISIONALLY PRICED SALES WILL REDUCE Q2 REVENUE BY ABOUT $85 MILLION.FREEPORT-MCMORAN - IMPACT ON Q2 2019 REVENUE OF LOWER COPPER PRICES IS ESTIMATED TO TOTAL ABOUT $260 MILLION.FREEPORT-MCMORAN -IMPACT OF DEFERRED COPPER & GOLD SALES VOLUMES FROM PT-FI IS EXPECTED TO RESULT IN HIGHER UNIT NET CASH COSTS FOR Q2 2019.  Full Article

Freeport-McMoran Sets Quarterly Cash Dividend Of $0.05 Per Share
Wednesday, 26 Jun 2019 

June 26 (Reuters) - Freeport-McMoRan Inc ::SETS QUARTERLY CASH DIVIDEND OF $0.05PER SHARE.  Full Article

KBR Selected As Preferred Bidder For Freeport LNG Train 4 EPC Project
Monday, 13 May 2019 

May 13 (Reuters) - KBR Inc ::KBR SELECTED AS PREFERRED BIDDER FOR FREEPORT LNG TRAIN 4 EPC PROJECT.KBR INC - IT IS EXPECTED THAT FULL NOTICE TO PROCEED WILL OCCUR IN SECOND HALF OF 2019..KBR INC - EXPECTED THAT FIXED PRICE EPC CONTRACT WILL BE CONCLUDED WITHIN THIS QUARTER AND WILL BE FOLLOWED BY A LIMITED NOTICE TO PROCEED PERIOD.  Full Article

Freeport-Mcmoran Says Courtney Mather Resigned From Board Of Directors
Thursday, 14 Mar 2019 

March 13 (Reuters) - Freeport-McMoRan Inc ::FREEPORT-MCMORAN INC - ON MARCH 12, 2019, COURTNEY MATHER RESIGNED FROM THE BOARD OF DIRECTORS.FREEPORT-MCMORAN INC - MATHER'S RESIGNATION UNDER TERMS OF ICAHN AGREEMENT FOLLOWING A DECREASE IN THE ICAHN GROUP’S SHARE OWNERSHIP.FREEPORT-MCMORAN INC - ICAHN GROUP NO LONGER HAS ANY DESIGNEES ON THE COMPANY’S BOARD.  Full Article

Freeport-Mcmoran Announces Redemption Of 3.100% Senior Notes Due 2020
Tuesday, 26 Feb 2019 

Feb 25 (Reuters) - Freeport-McMoRan Inc ::FREEPORT-MCMORAN ANNOUNCES REDEMPTION OF 3.100% SENIOR NOTES DUE 2020.FREEPORT-MCMORAN INC - WILL USE CASH TO FUND REDEMPTION.FREEPORT-MCMORAN INC - AT DECEMBER 31, 2018, CO HAD $11.1 BILLION IN TOTAL DEBT AND CONSOLIDATED CASH OF $4.2 BILLION.FREEPORT-MCMORAN INC - EXPECTS TO RECORD A LOSS TO NET INCOME OF APPROXIMATELY $3.4 MILLION IN Q1 OF 2019 IN CONNECTION WITH REDEMPTION.FREEPORT-MCMORAN INC - ANNUAL INTEREST COSTS ASSOCIATED WITH NOTES APPROXIMATE $31 MILLION.  Full Article

Freeport-Mcmoran Reports Q4 Earnings Per Share $0.09
Thursday, 24 Jan 2019 

Jan 24 (Reuters) - Freeport-McMoRan Inc ::FREEPORT-MCMORAN REPORTS FOURTH-QUARTER AND YEAR ENDED 2018 RESULTS.Q4 EARNINGS PER SHARE $0.09.Q4 EARNINGS PER SHARE ESTIMATE $0.18 -- REFINITIV IBES DATA.Q4 ADJUSTED EARNINGS PER SHARE $0.11.AT DECEMBER 31, 2018, CONSOLIDATED DEBT TOTALED $11.1 BILLION AND CONSOLIDATED CASH TOTALED $4.2 BILLION.QTRLY REVENUE $3,684 MILLION VERSUS $5,041 MILLION REPORTED LAST YEAR.QTRLY AVERAGE REALIZED PRICE PER POUND FOR COPPER WAS $$2.75 VERSUS $3.21.QTRLY AVERAGE REALIZED PRICE PER OUNCE FOR GOLD WAS $$1,255 VERSUS $1,285.Q4 COPPER AND GOLD SALES WERE LOWER THAN PRODUCTION, PRIMARILY REFLECTING ADJUSTMENTS TO SHIPPING SCHEDULES IN INDONESIA.CAPITAL EXPENDITURES TOTALED $0.6 BILLION IN Q4.FREEPORT-MCMORAN - CONSOLIDATED SALES FOR 2019 EXPECTED TO APPROXIMATE 3.3 BILLION POUNDS OF COPPER, 0.8 MILLION OUNCES OF GOLD, 94 MILLION POUNDS OF MOLYBDENUM.CAPITAL EXPENDITURES FOR YEAR 2019 ARE EXPECTED TO APPROXIMATE $2.4 BILLION.Q4 COPPER AND GOLD PRODUCTION OF 841 MILLION POUNDS AND 334 THOUSAND OUNCES EXCEEDED OCTOBER 2018 SALES ESTIMATES.FCX'S ECONOMIC INTEREST IN PT-FI, INCLUDING SHARE OF PT-FI'S NET INCOME, IS EXPECTED TO APPROXIMATE 81.28 PERCENT THROUGH 2022.FREEPORT-MCMORAN - Q4 COPPER, GOLD SALES OF 785 MILLION POUNDS & 266 THOUSAND OUNCES LOWER THAN Q4 2017 SALES OF 1.0 BILLION POUNDS & 593 THOUSAND OUNCES RESPECTIVELY.  Full Article

Freeport has no plans for big M&A deals - CEO
Wednesday, 24 Oct 2018 

Oct 24 (Reuters) - Freeport-McMoRan Inc ::FREEPORT-MCMORAN INC FOCUSED ON INTERNAL DEVELOPMENTS VERSUS M&A TO GROW, "HIGH HURDLE" FOR OUTSIDE OPPORTUNITIES - CEO RICHARD ADKERSON.FREEPORT ASSURED THAT RESOLUTION OF INDONESIAN ENVIRONMENTAL ISSUES WILL NOT DISRUPT OPERATIONS OR ADD SIGNIFICANT COST TO OPERATIONS - CEO.FREEPORT HAS NO PLANS TO SELL THE COMPANY, RECENT MEDIA COVERAGE "MISCHARACTERIZED" STOCK RESPONSE ON M&A QUESTION - CEO.FREEPORT SEES BIG M&A DEALS UNLIKELY WITH CURRENT GLOBAL UNCERTAINTIES, "DON'T CONSIDER IT SOMETHING THAT WE WOULD LOOK AT IN THE NEAR-TERM, GIVEN OUR SHARE PRICE" - CEO.  Full Article

Freeport confident in copper long term - CEO
Wednesday, 24 Oct 2018 

Oct 24 (Reuters) - Freeport-McMoRan Inc ::FREEPORT-MCMORAN INC SEES COPPER MARKET PARADOX: STRONG FUNDAMENTALS, BUT POOR SENTIMENT - CHIEF EXECUTIVE OFFICER RICHARD ADKERSON.FREEPORT SLOWING LONG-TERM RESOURCE DEVELOPMENT PLANS, DEFERRING INVESTMENT DECISIONS UNTIL CLARITY IN MARKETPLACE - CEO.FREEPORT EVALUATING PROJECT PIPELINE, RANKING OPPORTUNITIES, WILL DO LOW-RISK CAPITAL EXPANSION WHEN CONDITIONS RIGHT - CEO.FREEPORT SEES 2022 INDONESIA OUTPUT AT 1.8 MILLION LBS COPPER, 1.9 MILLION OUNCES GOLD; 2023-2027 AT 1.7 MILLION LBS COPPER, 1.8 MILLION OUNCES GOLD - CEO.FREEPORT SEES IMPLIED COST TO REPLACE ITS PRODUCTION AT PLUS/MINUS $40 BILLION, BASED ON COST TO DEVELOP CAPACITY OF $8-$10 PER POUND - CEO.  Full Article

Indonesia hikes Freeport's copper concentrate export recommendation to 700,000 T

* Indonesia's energy ministry has approved a new recommendation for a unit of Freeport McMoran Inc to raise copper concentrate exports to 700,000 tonnes until March 2020, an official told reporters on Friday