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NYSE:FCX

Freeport-McMoRan (FCX) Stock Price, News & Analysis

$50.42
-0.86 (-1.68%)
(As of 07/15/2024 ET)
Today's Range
$49.70
$51.03
50-Day Range
$47.27
$54.84
52-Week Range
$32.83
$55.24
Volume
9.11 million shs
Average Volume
13.69 million shs
Market Capitalization
$72.43 billion
P/E Ratio
44.62
Dividend Yield
0.60%
Price Target
$52.93

Freeport-McMoRan MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.75 Rating Score
Upside/​Downside
5.0% Upside
$52.93 Price Target
Short Interest
Healthy
1.51% of Float Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
-8.34
Upright™ Environmental Score
News Sentiment
1.21mentions of Freeport-McMoRan in the last 14 days
Based on 10 Articles This Week
Insider Trading
Selling Shares
$22.76 M Sold Last Quarter
Proj. Earnings Growth
38.32%
From $1.67 to $2.31 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.43 out of 5 stars

Basic Materials Sector

31st out of 167 stocks

Metal Mining Industry

1st out of 22 stocks

FCX stock logo

About Freeport-McMoRan Stock (NYSE:FCX)

Freeport-McMoRan Inc is a publicly traded mining company that operates primarily in North and South America. The company is in the top ten of the world's largest producers of copper, gold and molybdenum, and its operations include mines, smelters and refineries. 

Freeport-McMoRan was founded in 1988 when Freeport Minerals Corporation merged with McMoRan Oil & Gas Company. Both companies had a long history in the mining industry, with Freeport Minerals founded in 1912 and McMoRan Oil & Gas in 1969.

The merger of the two companies created a vertically integrated mining company that could control every aspect of the mining process. The union of the two companies allowed Freeport-McMoRan to become one of the world's largest producers of copper, gold and molybdenum.

Freeport-McMoRan's operations are primarily in North and South America, with mines in Arizona, Colorado, New Mexico and Chile. The company also owns a 48.76% stake in the Grasberg mine in Indonesia, the largest gold mine in the world and the second-largest copper mining operation in the world.

The Grasberg mine is a significant source of revenue for Freeport-McMoRan, accounting for approximately 30% of the company's copper production and 40% of its gold production. The mine has operated since the 1970s and has significantly expanded recently.

Freeport-McMoRan's other major operation is the Cerro Verde mine in Peru, one of the world's largest copper mines. The mine was established as a joint venture between Freeport-McMoRan, Buenaventura and Sumitomo Corporation, with Freeport-McMoRan owning a 53.56% stake.

In addition to its mining operations, Freeport-McMoRan owns and operates smelters and refineries in the United States and South America. This allows the company to process the ore from its mines into finished products, such as copper cathodes and gold bars.

Freeport-McMoRan has a track record of financial performance. The company's revenues have steadily grown over the past decade, driven by increasing demand for copper and other essential metals.

Freeport-McMoRan's strong financial performance has allowed the company to invest in new projects and expand its operations. The company has recently focused on developing new mining projects in North and South America, including the Lone Star copper project in Arizona and the Quebrada Blanca Phase 2 copper project in Chile.

Freeport-McMoRan has a solid commitment to sustainability and responsible mining practices. The company has implemented a comprehensive environmental management system designed to minimize its impact on the environment while supporting the communities in which it operates.

One of the critical components of Freeport-McMoRan's sustainability strategy is its focus on reducing greenhouse gas emissions. The company has set a target of reducing its carbon footprint by 10% by the end of 2023, compared to its 2018 baseline.

Freeport-McMoRan has also implemented a water management program, which aims to minimize the use of fresh water in its operations and promote water conservation. In addition, the company has invested in technologies that allow it to recycle and reuse water, and it has also partnered with local communities to implement water conservation projects.

In addition to its environmental initiatives, Freeport-McMoRan is committed to supporting the communities in which it operates. The company has implemented a social responsibility program, which includes initiatives to improve education, healthcare and economic development in the communities near its mining operations.

Freeport-McMoRan has also committed to diversity, equity and inclusion (DEI). The company has established a DEI council and has implemented training programs to promote a more inclusive workplace. In addition, Freeport-McMoRan has set a target of achieving gender parity in its workforce by 2030.

The company is not without its risks. One of the main risks is the volatility of metal prices. Copper and gold prices can be highly cyclical and are influenced by various factors, including global economic conditions, geopolitical events and supply and demand dynamics. As a result, a significant decline in metal prices could harm Freeport-McMoRan's financial performance.

Another risk to consider is the regulatory environment. Mining companies are subject to various environmental and safety regulations, which can impact their operations and financial performance. As a result, changes in laws, or increased enforcement of existing regulations, could increase the cost of doing business for Freeport-McMoRan.

FCX Stock Price History

FCX Stock News Headlines

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Freeport-McMoRan Inc. (NYSE:FCX) Plans Quarterly Dividend of $0.15
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See More Headlines
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Company Calendar

Ex-Dividend for 5/1 Dividend
4/12/2024
Last Earnings
4/23/2024
Dividend Payable
5/01/2024
Today
7/15/2024
Ex-Dividend for 8/1 Dividend
7/15/2024
Next Earnings (Confirmed)
7/23/2024
Dividend Payable
8/01/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Metal mining
Sub-Industry
Diversified Metals & Mining
CUSIP
35671D85
Employees
27,200
Year Founded
1987

Price Target and Rating

Average Stock Price Target
$52.93
High Stock Price Target
$62.00
Low Stock Price Target
$45.00
Potential Upside/Downside
+5.0%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.75
Research Coverage
16 Analysts

Profitability

Net Income
$1.85 billion
Pretax Margin
25.82%

Debt

Sales & Book Value

Annual Sales
$22.86 billion
Cash Flow
$2.94 per share
Book Value
$19.03 per share

Miscellaneous

Outstanding Shares
1,436,490,000
Free Float
1,425,142,000
Market Cap
$72.43 billion
Optionable
Optionable
Beta
1.92

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Should I Buy Freeport-McMoRan Stock? FCX Pros and Cons Explained

Pros

Here are some ways that investors could benefit from investing in Freeport-McMoRan Inc.:

  • Freeport-McMoRan Inc. has a strong revenue growth of 17.3% compared to the same quarter last year, indicating a positive trend in the company's financial performance.
  • The company's return on equity stands at 7.17%, showcasing its ability to generate profit from shareholders' equity, a key metric for investors to assess profitability.
  • Freeport-McMoRan's stock price has been showing resilience, with a 50-day simple moving average of $50.83, suggesting stability in the stock's performance.
  • Insiders own 0.79% of the company's stock, indicating confidence in the company's future prospects among those with intimate knowledge of its operations.
  • The recent quarterly earnings report exceeded analysts' expectations, with earnings per share of $0.32 beating estimates by $0.05, reflecting strong financial performance.

Cons

Investors should be bearish about investing in Freeport-McMoRan Inc. for these reasons:

  • Freeport-McMoRan Inc. has a relatively high PE ratio of 43.60, which may indicate that the stock is currently overvalued compared to its earnings, potentially posing a risk for investors.
  • The company's debt-to-equity ratio of 0.31 suggests a moderate level of financial leverage, which could increase the company's financial risk in times of economic uncertainty.
  • Freeport-McMoRan's stock performance has shown a decline of 3.9%, indicating short-term volatility that may concern investors looking for stable returns.
  • The company's payout ratio of 26.55% raises concerns about the sustainability of its dividend payments, as a higher ratio may indicate potential strain on the company's cash flow.
  • While insiders have sold a significant number of shares in the last three months, totaling $22,755,070, it may signal a lack of confidence in the company's future performance among key stakeholders.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Thursday, June 27, 2024. Please send any questions or comments about these Freeport-McMoRan pros and cons to contact@marketbeat.com.

FCX Stock Analysis - Frequently Asked Questions

How have FCX shares performed this year?

Freeport-McMoRan's stock was trading at $42.57 at the start of the year. Since then, FCX stock has increased by 18.4% and is now trading at $50.42.
View the best growth stocks for 2024 here
.

How were Freeport-McMoRan's earnings last quarter?

Freeport-McMoRan Inc. (NYSE:FCX) announced its quarterly earnings data on Tuesday, April, 23rd. The natural resource company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.05. Freeport-McMoRan's revenue for the quarter was up 17.3% compared to the same quarter last year.
Read the conference call transcript
.

What is Richard C. Adkerson's approval rating as Freeport-McMoRan's CEO?

233 employees have rated Freeport-McMoRan Chief Executive Officer Richard C. Adkerson on Glassdoor.com. Richard C. Adkerson has an approval rating of 87% among the company's employees.

Does Freeport-McMoRan have any subsidiaries?

Freeport-McMoRan subsidiaries include Plains Exploration & Production, Climax Molybdenum Company, Cyprus Amax Minerals Company, Cyprus Climax Metals Company, Cyprus Metals Company, Freeport-McMoRan Bagdad Inc., Freeport-McMoRan Exploration Corporation, and more.

Who are Freeport-McMoRan's major shareholders?

Freeport-McMoRan's top institutional investors include Douglas Lane & Associates LLC (0.10%), Annex Advisory Services LLC (0.04%), Westend Capital Management LLC (0.02%) and Czech National Bank (0.02%). Insiders that own company stock include Richard C Adkerson, Douglas N Currault II, Dustan E Mccoy, Stephen T Higgins, Ellie L Mikes, Ryan Michael Lance, Sara Grootwassink Lewis, Hugh Grant, Kathleen L Quirk and C Donald Whitmire Jr.
View institutional ownership trends
.

How do I buy shares of Freeport-McMoRan?

Shares of FCX stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Freeport-McMoRan own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Freeport-McMoRan investors own include Micron Technology (MU), Bank of America (BAC), Intel (INTC), General Electric (GE), AT&T (T), NVIDIA (NVDA) and Alibaba Group (BABA).

This page (NYSE:FCX) was last updated on 7/16/2024 by MarketBeat.com Staff

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