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Freeport-McMoRan Copper & Gold Inc. Q2 2010 Earnings Conference CallWed, Jul 21, 2010
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Freeport-McMoRan Copper & Gold Inc. Q1 2010 Earnings Call TranscriptWed, Apr 21, 2010
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Freeport-McMoRan Copper & Gold Inc. Q4 2009 Earnings Call TranscriptThu, Jan 21, 2010
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Freeport-McMoRan Copper & Gold Inc. Q3 2009 Earnings Call TranscriptWed, Oct 21, 2009
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Freeport-McMoran Copper & Gold Inc. Q2 2009 Earnings Call TranscriptTue, Jul 21, 2009
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Freeport-McMoran Copper & Gold Inc. Q1 2009 Earnings Call TranscriptWed, Apr 22, 2009
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Freeport-McMoRan Copper & Gold Inc. Q4 2008 Earnings Call TranscriptMon, Jan 26, 2009
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Freeport-McMoRan Copper & Gold Inc. Q3 2008 Earnings Call TranscriptTue, Oct 21, 2008
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at CNBC.com (Thu, 2:36PM)
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at CNBC.com (May 15, 2013)
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at CNBC.com (May 3, 2013)
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Business Wire (May 3, 2013)
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at CNBC.com (May 1, 2013)
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at CNBC.com (Apr 18, 2013)
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at MarketWatch.com (Apr 18, 2013)
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Business Wire (Apr 18, 2013)
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at CNBC.com (Apr 17, 2013)
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at CNBC.com (Apr 17, 2013)
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at CNBC.com (Apr 17, 2013)
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at CNBC.com (Apr 17, 2013)
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at CNBC.com (Apr 16, 2013)
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at MarketWatch.com (Apr 15, 2013)
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at CNBC.com (Apr 15, 2013)
FCX vs. ETF Alternatives
Company Description
We are a leading international mining company with headquarters in Phoenix, Arizona. We are one of the world’s largest copper, gold and molybdenum mining companies in terms of reserves and production. Our portfolio of assets includes the Grasberg minerals district in Indonesia, which contains... More
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- | Earnings
- | Dividends
- | M&A
- | On the move
- Wednesday, May 22, 9:06 AM Freeport Indonesia (FCX) remains uncertain when it will restart operations following last week's mining accident, news that has helped push copper prices up 2% in global markets. FCX says it is losing production of ~220K metric tons/day of concentrated ore since the tunnel collapse that killed 28 people. Comment! [Commodities]
- Tuesday, May 21, 3:47 PM Freeport McMoRan's (FCX -2.8%) Indonesian mine could face a prolonged closure and scrutiny over its underground mining plans, as the death toll from the collapsed tunnel at the Grasberg complex reaches 28, analysts and mining sources say. The bigger strategic question concerns whether FCX engineers fully understand ground conditions or rock mechanics of the area. Comment! [Commodities, On the Move]
- Monday, May 20, 2:16 PM Plains Exploration (PXP +7.5%) shareholders vote to approve Freeport McMoRan’s (FCX -0.2%) acquisition of PXP at today's special meeting. The transaction is expected to close on May 31. Following completion of the transaction, there are expected to be ~1B shares of FCX outstanding. Earlier today, PXP declared a $3/share special dividend conditioned upon the completed merger. Comment! [Energy, Commodities, On the Move]
- Monday, May 20, 10:07 AM Paulson & Co., whose funds own ~9.9% of the outstanding shares (12.8M) of Plains Exploration (PXP +7%), says it will vote in favor of Freeport McMoRan's (FCX -0.9%) proposed takeover of PXP and McMoRan Exploration (MMR) as it "adds another avenue for growth, diversifies its cash flows, and increases the proportion of earnings from the United States." Comment! [Energy, M&A, On the Move]
- Monday, May 20, 8:39 AM Rescuers uncover six more bodies from the collapsed Freeport Indonesia mine (FCX), bringing the total number of fatalities to 14 while the same number remain trapped. Indonesia's president calls on FCX to step up rescue efforts at the world’s second-largest copper mine, and demands for government investigations are rising. Comment! [Commodities]
- Monday, May 20, 8:29 AM Sweetening the pot ahead of today's shareholder vote deciding the fate of Freeport McMoRan's (FCX) proposed takeover of Plains Exploration (PXP), PXP declares a special $3/share dividend and FCX announces a $1/share supplemental dividend to be paid upon closing the acquisition. With a close vote expected, the moves may well tip support in favor of the deal. PXP +6.2%, FCX +0.8% premarket. 5 Comments [Energy, On the Move]
- Friday, May 17, 11:23 AM While a razor-thin margin one way or the either is anticipated in next Monday's vote on Freeport McMoRan's (FCX) takeover bid for Plains Exploration (PXP), FCX shares could be poised to rise on either outcome. But all bets are off if FCX sees the bid on the verge of defeat and decides to sweeten the pot after saying it wouldn't do so. A higher offer could further pressure shares, already -16% since the deal was announced. Comment! [Commodities, Energy, M&A]
- Wednesday, May 15, 12:23 PM The tunnel collapse that killed four miners should barely impact global copper supply (JJC) but may spark long-term issues for Freeport McMoRan (FCX +1%), Goldman Sachs says. The shut area represents ~1% of FCX's Indonesian production, but the tragedy could mean strained relationships with unions, tighter government regulation, and questions about a transition of the Grasberg mine from open pit to underground. Comment! [Commodities]
- Wednesday, May 15, 7:54 AM Freeport McMoRan's (FCX) Indonesia unit suspends operations at its Grasberg mine, as the death toll from the collapse of a training tunnel rises to four with 25 miners still trapped deep underground. Rescue efforts are continuing at the world's second largest copper mine, which also contains the world's largest gold reserves. FCX -1.5% premarket. Comment! [Commodities, Global & FX]
- Tuesday, May 14, 11:51 AM At least two miners are killed and more than 30 others are trapped underground after a training tunnel collapsed at Freeport McMoRan's (FCX -0.9%) massive Grasberg mining complex in Indonesia. Output at Grasberg, the world's second largest copper mine which also has the world's largest gold reserves, is not expected to be significantly affected, FCX says. 6 Comments [Commodities, Global & FX]
- Monday, May 13, 9:09 AM Plains Exploration (PXP) CEO James Flores urges shareholders to back the proposed merger with Freeport McMoRan (FCX) ahead of the May 20 shareholder meeting, citing the strategic nature of the transaction, the financial and operational strength of the combined businesses, and the expected lower borrowing cost. Flores also criticizes analyses provided by ISS and Glass Lewis, which oppose the merger. 1 Comment [Energy, Commodities, M&A]
- Friday, May 10, 12:23 PM The mini-recovery in gold and metals mining stocks is stopped as gold prices sink 3% today to ~$1,425/oz. after closing higher in each of the past two weeks. A breach of key chart levels is prompting heavy selling of gold futures, already under pressure from a stronger dollar and rising stock markets. Among big miners: ABX -3%, NEM -2.1%, GG -1.6%, KGC -3.8%, SLW -2.7%, FCX -1.8%. Comment! [Commodities, On the Move]
- Thursday, May 9, 8:25 AM Freeport McMoRan (FCX) reiterates its support for its proposed acquisition of Plains Exploration (PXP) and that the agreed terms are the "best and final" offer. PXP says the financial and operational strength of the combined businesses will allow for accelerated value creation across the entire asset portfolio. FCX +1.3%, PXP -2.6% premarket. Comment! [Commodities, Energy, M&A, On the Move]
- Wednesday, May 8, 3:18 PM Freeport McMoRan's (FCX +2.7%) planned acquisition of Plains Exploration (PXP) likely will close in June despite objections, Morgan Stanley predicts as it maintains an Outperform rating on the shares. Long-term FCX shareholders should be rewarded with strong growth through 2015 and lower political uncertainty, the firm says, adding that copper inventories are starting to decline. 1 Comment [Commodities, M&A, On the Move]
- Tuesday, May 7, 2:29 PM Freeport McMoRan (FCX +0.2%) will not boost its offer for Plains Exploration (PXP +1.6%), according to sources cited by Dealreporter. Earlier today, ISS recommended shareholders vote against the deal as it believes the stock should trade higher based on intrinsic value alone. Comment! [Commodities, M&A, On the Move]
- Tuesday, May 7, 12:13 PM Proxy advisory firm ISS becomes the third financial outfit to come out against the proposed $6B takeover of Plains Exploration (PXP +2.2%) by Freeport McMoRan (FCX +0.4%). The FCX offer is too low, ISS says, adding that "even at the announcement day valuation of $49.55, the transaction would offer little or no takeover premium to the current stand-alone value." (earlier) 3 Comments [Energy, Commodities, M&A, On the Move]
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Energysystems
$FCX and $PXP shareholders apparently getting special dividends at completion of acquisition. 1$ per $FCX share and 3$ per PXP share. - View all 0 replies
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Ghosts of Kariela: FCX is a fire and forget stock at these levels, the stock is too cheap right here. Buy and add dips, wait a few years... ???? Profit!! -
Energysystems: Decent divi worth reinvesting, hard assets, and that's my thesis.
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inandoutnevertoolate: great trade, in the face of some awful macro data too. -
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Dividend Sheet
$ETP $NEM $FCX are the best yielding large caps with cheap price ratios and highest growth - http://stks.co/iSU0 - 12 stocks 3.25% yield - View all 0 replies
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LATEST REPLIES
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Ghosts of Kariela: FCX is a fire and forget stock at these levels, the stock is too cheap right here. Buy and add dips, wait a few years... ???? Profit!!
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Energysystems: Decent divi worth reinvesting, hard assets, and that's my thesis.
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inandoutnevertoolate: great trade, in the face of some awful macro data too.
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Energysystems: I liked the move for $PXP, not as much the $MMR move. I also bought after the acquisition news broke and $FCX dove.
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Energysystems: Personally, I would've rather seen $PXP along with some strategic asset buys in acreage on shore instead of $MMR, but that's me.
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x oil -field
Gold Sales From Soros Reveal 12-Year Bull Run Decay: Commodities $GLD $FCX http://bloom.bg/Y7GvlI Bloomberg - View all 6 replies
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x oil -field: LONDON--The International Energy Agency (IEA) sees weaker $OIL demand growth, more supply. $USO http://bit.ly/ZlDRds
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x oil -field: Freeport-McMoRan 1st-Quarter Net Drops -15% Amid Higher update: 4/18/2013 8:24 AM $FCX Dow Jones Newswires
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Skull & Bones: China's gonna crash & burn. Commodity Supercycle is gasping here.
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Nicholas Ward
Keep an eye of $FCX - its been downgraded by Citi. The stock is down 6% as we speak. I'm interested to see where this goes. - View all 4 replies
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Nicholas Ward: I will be adding my my position in the Seeking Alpha Experiment as well
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Energysystems
Buying more $FCX today. Waiting until single digits to back up the brinks on silver though ;) - View all 3 replies
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Energysystems: I really liked the $PXP acquisition, $MMR is a headscratcher(so far; since they haven't produced from davey jones yet).
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Ghosts of Kariela: Real: not sure what you mean by that, but I managed to miss a lot of the bull market these 2 months by selling early lol
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x oil -field
Paulson $GOLD Fund Down 18% as Metal's $GLD Slump Foils Rebound. Bloomberg http://bloom.bg/13IZdas $FCX - View all 1 replies
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x oil -field: $TVIX Charmin comfort - $CS Fear Toiletten-Papier. http://bit.ly/Y6ZvPR http://bit.ly/12qbkbp $TVIX L-$3.81¢*AH. http://bit.ly/WHv8SD $GLD
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DaLatin: FCX,close 2 us buying.Were hoping the 52 week low hist.US housing is improving& that's 1/2 copper needs+ China's ok.@ 4%+ yield soon were in
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SKS1586: andyk80: Mr Market is listening to you & following your thought of bounce, with uptick in all the Futures @ this moment.
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x oil -field
Is The Precious Metals Bubble Bursting? Feb.20, by: BubbleBustInvesting $FCX $GLD $PAL $SLV http://bit.ly/VKmsyr http://bit.ly/1364LH0 - View all 1 replies
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Warderf: If I remeber correctly from what I hear. Gold production is trending down. PGMs fundamentals still look favourable. PAL may need money.
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Energysystems: Not too shabby, I've bought in 3 times since the summer, all under 32.
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Golferdood: I traded FCX a couple of times in 2012 typically $34-$40 range. It's getting close to that time again.
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techwonk: I'm seeing lots of decline in negative p/e low liquidity smallcaps, maybe some "reset" on valuation rather than a real selloff. -
Joe Springer: Nice note TW, could be that there is a real sell-off, it is just happening during a buy-in of the large and liquid, makes perfect sense.