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Freeport-McMoRan Inc (FCX.N)

FCX.N on New York Stock Exchange

11.49USD
19 Jul 2019
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Latest Key Developments (Source: Significant Developments)

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

Freeport-McMoRan Reports Q3 Earnings Per Share $0.38
Wednesday, 24 Oct 2018 

Oct 24 (Reuters) - Freeport-McMoRan Inc ::FREEPORT-MCMORAN REPORTS THIRD-QUARTER AND NINE-MONTH 2018 RESULTS.Q3 EARNINGS PER SHARE $0.38.Q3 EARNINGS PER SHARE VIEW $0.33 -- THOMSON REUTERS I/B/E/S.Q3 ADJUSTED EARNINGS PER SHARE $0.35.FREEPORT-MCMORAN - CONSOLIDATED SALES TOTALED 1.04 BILLION POUNDS OF COPPER, 837 THOUSAND OUNCES OF GOLD AND 22 MILLION POUNDS OF MOLYBDENUM IN Q3 2018.FREEPORT-MCMORAN - CONSOLIDATED SALES FOR 2018 ARE SEEN TO APPROXIMATE 3.8 BILLION POUNDS OF COPPER, 2.45 MILLION OUNCES OF GOLD & 95 MILLION POUNDS OF MOLYBDENUM.QTRLY REVENUE $4908 MILLION VERSUS $4,310 MILLION REPORTED LAST YEAR.CAPITAL EXPENDITURES TOTALED $0.5 BILLION (INCLUDING APPROXIMATELY $0.4 BILLION FOR MAJOR MINING PROJECTS) IN THIRD-QUARTER 2018.AT SEPTEMBER 30, 2018, CONSOLIDATED DEBT TOTALED $11.1 BILLION AND CONSOLIDATED CASH TOTALED $4.6 BILLION.CAPITAL EXPENDITURES FOR YEAR 2018 ARE EXPECTED TO APPROXIMATE $2.0 BILLION.THIRD-QUARTER 2018 COPPER SALES OF 1.04 BILLION POUNDS 12 PERCENT HIGHER THAN THIRD-QUARTER 2017 SALES OF 932 MILLION POUNDS.QTRLY COPPER AVERAGE REALIZED PRICE WAS $2.80/POUND VERSUS $2.94/POUND.QTRLY GOLD AVERAGE REALIZED PRICE WAS $1,191/OUNCE VERSUS $1,290/OUNCE.THIRD-QUARTER 2018 GOLD SALES OF 837 THOUSAND OUNCES, MORE THAN DOUBLE THIRD-QUARTER 2017 SALES OF 355 THOUSAND OUNCES.FREEPORT-MCMORAN - Q3 MOLYBDENUM SALES OF 22 MILLION POUNDS WERE LOWER THAN JULY 2018 ESTIMATE OF 24 MILLION POUNDS AND APPROXIMATED THIRD-QUARTER 2017 SALES.  Full Article

Mundoro, Freeport-Mcmoran Exploration Sign Exploration Agreement
Monday, 30 Jul 2018 

July 30 (Reuters) - Mundoro Capital Inc ::MUNDORO AND FREEPORT-MCMORAN EXPLORATION CORPORATION SIGN EARN-IN AGREEMENT FOR EXPLORATION OF TWO SERBIAN TIMOK LICENSES.MUNDORO CAPITAL - GRANTED TO FREEPORT OPTION TO EARN UP TO 75% INTEREST IN FREEPORT-MUNDORO JV PROJECT BY SOLE FUNDING EXPENDITURES OF UP TO $45 MILLION.  Full Article

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Column: Copper concentrates tightness threatens benchmark pricing

LONDON The copper market may be stuck in a well-worn trading range but there is plenty of action unfolding in the mine concentrates segment of the copper supply chain.