Edition:
United States

Freeport-McMoRan Inc (FCX)

FCX on New York Consolidated

16.43USD
14 Dec 2017
Change (% chg)

$0.11 (+0.67%)
Prev Close
$16.32
Open
$16.32
Day's High
$16.44
Day's Low
$16.15
Volume
10,835,841
Avg. Vol
17,307,172
52-wk High
$17.06
52-wk Low
$11.05

Latest Key Developments (Source: Significant Developments)

Carl Icahn cuts shared share stake in Freeport-Mcmoran
Tuesday, 14 Nov 2017 05:11pm EST 

Nov 14 (Reuters) - :Carl Icahn cuts shared share stake in Freeport-Mcmoran Inc by 15.8 percent to 77.16 million Class B shares - SEC filing.Change in holdings are as of Sept 30, 2017 and compared with the previous quarter ended as of June 30, 2017.  Full Article

Freeport-McMoRan announces redemption of two series of senior notes
Thursday, 9 Nov 2017 09:00am EST 

Nov 9 (Reuters) - Freeport-McMoRan Inc :Freeport-McMoRan announces redemption of two series of senior notes.Freeport-McMoRan Inc - ‍notices have been issued to redeem on December 11, 2017, $617 million aggregate principal amount of FCX and FMOG senior notes​.Freeport-McMoRan Inc - ‍FCX expects to record a gain to net income of approximately $15 million in Q4 of 2017 in connection with redemptions​.  Full Article

Freeport-McMoRan reports Q3 earnings per share $0.19
Wednesday, 25 Oct 2017 08:00am EDT 

Oct 25 (Reuters) - Freeport-McMoRan Inc :Freeport-McMoRan reports third-quarter and nine-month 2017 results.Q3 earnings per share $0.19.Q3 earnings per share view $0.31 -- Thomson Reuters I/B/E/S.Q3 adjusted earnings per share $0.34.Freeport-McMoRan Inc - ‍Capital expenditures totaled $308 million (including approximately $200 million for major mining projects) for third-quarter 2017​.Freeport-McMoRan Inc - ‍consolidated sales for year 2017 are expected to approximate 3.7 billion pounds of copper, 1.6 million ounces of gold​.Freeport-McMoRan Inc qtrly average realized price was $2.94‍​ per pound for copper versus $2.19 per pound.Freeport-McMoRan Inc - ‍At September 30, 2017, consolidated debt totaled $14.8 billion, compared with $16.0 billion at December 31, 2016​.Freeport-McMoRan - Capex for 2017 expected to about $1.5 billion, including $0.7 billion for development activities in grasberg minerals district in indonesia.Freeport-McMoRan Inc - Third-quarter 2017 copper sales of 932 million pounds were 16 percent lower than third-quarter 2016 sales of 1.1 billion pounds‍​.Freeport-McMoRan Inc qtrly average realized price was $‍​1,290 per ounce for gold versus $1,327 per ounce.Freeport-McMoRan Inc - Qtrly revenue $‍4,310​ million versus $3,877 million.Freeport-McMoRan Inc - Third-quarter 2017 gold sales of 355 thousand ounces were higher than third-quarter 2016 sales of 317 thousand ounces‍​.Freeport-McMoRan Inc - Incurred ‍net charges of $212 million, $0.15 per share, in quarter​.  Full Article

Freeport-McMoRan announces framework for agreement with Indonesian government regarding long-term operating rights for PT Freeport Indonesia
Tuesday, 29 Aug 2017 08:00am EDT 

Aug 29 (Reuters) - Freeport-McMoRan Inc :Freeport-McMoRan announces framework for agreement with indonesian government regarding long-term operating rights for PT Freeport Indonesia.Freeport-McMoRan Inc- ‍PT-FI will convert its contract of work to special license which will provide PT-FI with long-term operating rights through 2041​.Freeport-McMoRan Inc- ‍PT-FI will commit to construct a new smelter in Indonesia within five years​.Freeport-McMoRan Inc- ‍Indonesian government will provide certainty of fiscal and legal terms during term of IUPK​.Freeport-McMoRan Inc- ‍FCX will agree to divest ownership in PT-FI at fair market value so that Indonesia interests own 51 percent of PT-FI's shares​.Freeport-McMoRan Inc- ‍Divestment of ownership in PT-FI will be structured so that FCX will retain control over operations and governance of PT-FI​.Freeport-McMoRan Inc- ‍FCX and government of Indonesia reached understanding on a framework to support PT-FI's long-term investment plans in Papua​.  Full Article

Freeport-McMoRan announces redemption of five series of senior notes
Friday, 18 Aug 2017 09:06am EDT 

Aug 18 (Reuters) - Freeport-McMoRan Inc :Freeport-McMoRan announces redemption of five series of senior notes.Freeport-McMoRan Inc - ‍expects to record a gain to net income of approximately $11 million in q3 of 2017 in connection with redemptions.​.Freeport - ‍notices have been issued to redeem $543 million of two series of co's senior notes, three series of Freeport-McMoRan Oil & Gas LLC senior notes.Freeport-McMoRan - ‍aggregate cash interest cost savings would approximate $35 million per annum related to notes redemptions​.  Full Article

Cox Oil Offshore purchases majority interest in Gulf of Mexico fields from Freeport-McMoran
Tuesday, 1 Aug 2017 06:17am EDT 

Aug 1 (Reuters) - Freeport-mcmoran Inc :Cox oil offshore purchases majority interest in Gulf of Mexico fields from Freeport-McMoran.‍Cox Oil Offshore says transaction includes FCX's interests in flatrock and hurricane areas of OCS-310 "tiger shoal" lease​.  Full Article

Freeport to talk with Indonesia gov't on value of divestment -CEO
Tuesday, 25 Jul 2017 11:38am EDT 

July 25 (Reuters) - Freeport-McMoRan Inc :Freeport-McMoRan has not yet negotiated with Indonesian gov't on fair value of operations for divestment -CEO Richard Adkerson.Freeport suggests to gov't that optimal way to divest is starting with listing, likely 10 percent, on Indonesian stock exchange -Adkerson.  Full Article

Freeport sees mining deal with Indonesia, but challenges -CEO
Tuesday, 25 Jul 2017 11:14am EDT 

July 25 (Reuters) - Freeport-McMoRan Inc :Contract talks with Indonesia "very active", "mutual sense of optimism" agreement can be reached -CEO Richard Adkerson.Freeport CEO personally involved in talks with Indonesia, responsive to gov't goals on divestment, smelter investment -Adkerson.Freeport would require operational and governance control of Grasberg, any divestment would need to be fair market value -Adkerson.Freeport would stop Indonesian spending plan of $700 million in 2017, $750 million in 2018 on Grasberg block cave, if "unexpectedly" unable to reach agreement -Adkerson.Freeport remains focused on getting Indonesia agreement this year, gov't has objective to resolve issue 'we just haven't seen in the past' - CEO Adkerson.Freeport preparing for arbitration if no agreement reached, 120-day notice period runs course, but not desired outcome - Adkerson.Any Freeport arbitration claim would be 'very large," reflect losses from contract issues in previous years -Adkerson.Freeport expects to have mining agreement with Indonesia by October -Adkerson.  Full Article

Freeport-McMoRan reports Q2 adj. EPS $0.17; copper sales of 942 mln pounds
Tuesday, 25 Jul 2017 08:00am EDT 

July 25 (Reuters) - Freeport-McMoRan :Freeport-McMoRan reports second-quarter and six-month 2017 results.Q2 earnings per share $0.18.Q2 earnings per share view $0.20 -- Thomson Reuters I/B/E/S.Q2 adjusted earnings per share $0.17.Freeport-McMoRan inc - second-quarter 2017 copper sales of 942 million pounds were lower than april 2017 estimate of 975 million pounds.Freeport-McMoRan inc Q2 average realized price was $2.65​ per pound for copper versus $2.18 per pound.freeport-McMoRan-‍consolidated sales for year 2017 expected to approximate 3.7 billion pounds of copper, 1.6 million ounces of gold, 93 million pounds of molybdenum​.Freeport-McMoRan inc qtrly average realized price was $‍1,243​ per ounce for gold versus $1,292 per ounce.Freeport-McMoRan inc - second-quarter 2017 gold sales of 432 thousand ounces were slightly lower than april 2017 estimate of 440 thousand ounces.Freeport-McMoRan inc - second-quarter 2017 molybdenum sales of 25 million pounds were slightly higher than april 2017 estimate of 24 million pounds.Freeport-McMoRan inc - qtrly revenue $3,711 million versus $3,334 million.Freeport-McMoRan inc sees ‍consolidated sales of 940 million pounds of copper, 375 thousand ounces of gold and 22 million pounds of molybdenum for q3 2017​.Freeport-McMoRan inc - capital expenditures totaled $362 million for second-quarter 2017 and $706 million for first six months of 2017.Freeport-McMoRan inc - capital expenditures for year 2017 are expected to approximate $1.6 billion.  Full Article

China Molybdenum Co says acquisition of copper-cobalt mine from Freeport-Mcmoran has been completed
Thursday, 15 Jun 2017 09:52am EDT 

June 15 (Reuters) - China Molybdenum Co Ltd 3993.HK:Clarification announcement in relation to media report.Noted certain media report regarding company giving up its acquisition of copper-cobalt mine from Freeport-Mcmoran Inc .As disclosed in announcement dated 17 Nov 2016, acquisition of copper-cobalt mine from Freeport-Mcmoran Inc. has been completed.  Full Article

METALS-Shanghai copper prices turn positive on China data

SYDNEY, Dec 8 Shanghai copper futures turned positive on Friday after data showed a jump in imports of the metal into China, the world's top consumer of the commodity.