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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 (Wed, 5:40PM)
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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)
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at MarketWatch.com (Apr 15, 2013)
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at MarketWatch.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
- All
- | Earnings
- | Dividends
- | M&A
- | 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]
- Monday, May 6, 2:12 PM SAC Capital unit CR Intrinsic says it will vote against Freeport McMoRan's (FCX +1.2%) pending acquisition of Plains Exploration (PXP +1.1%) because it undervalues the company. CR says shares of PXP's peers have risen since the deal was announced, and that PXP has reported two operationally strong quarters. CR says its affiliates and funds it manages own ~3.8% of PXP. Comment! [Energy, Commodities, M&A]
- Wednesday, May 1, 10:30 AM Freeport McMoRan (FCX -1.2%) is upgraded to Buy from Neutral at Nomura, which likes FCX's strong asset base in oil and gas and copper with solid organic growth potential. The firm forecasts FCX to generate cumulative free cash flow of $7.7B from 2014-16, with net debt reduced to $8B by year-end 2016; including deleveraging benefits, FCX trades at only 3.2x 2016 EV/EBITDA. 4 Comments [Commodities, Quick Ideas]
- Thursday, April 25, 12:23 PM Freeport McMoRan (FCX +1.2%) has been under pressure to raise its offer for Plains Exploration (PXP -1.4%), but Deutsche Bank's Jorge Beristain thinks that could change after Anadarko reported lower-than-expected results from its Phobos well. The announced 250 net feet for the project roughly equates to 250M boe, far below market expectations of ~500M and DB estimates of 600M, Beristain says. Comment! [Commodities, Energy, M&A]
- Monday, April 22, 5:41 PM Caterpillar gained today because its weak Q1 report was no worse than expected, but there's little chance of a snapack in global metals and mining later in 2013, 24/7's Jon Ogg writes. Bottoming out may take much longer than expected now, he warns, and sector investors may see more volatility and timing pain than in the past. (also) Today: CAT +2.8%, FCX +1.1%, JOY +0.5%, DE +0.4%, X -0.6%. 1 Comment [Global & FX]
- Monday, April 22, 1:52 PM Goldman Sachs cuts its forecast for copper prices this year, citing rising global stocks and mounting worries regarding China's growth outlook, but says the selloff in Freeport McMoRan (FCX -0.4%) looks overdone. The firm maintains its Buy rating for FCX but lowers its 2013 and 2014 EPS estimates to $3.35 from $4.53 and to $3 from $3.20, respectively. Comment! [Commodities]
- Thursday, April 18, 3:14 PM The Democratic Republic of Congo’s copper-rich Katanga province says it won’t implement a government ban on exporting copper and cobalt concentrate because it doesn’t have capacity to process all the ore itself. Many of Congo’s copper miners, including Freeport McMoRan (FCX), Glencore (GLCNF.PK) and Lundin Mining (LUNMF.PK), saw their stock prices fall yesterday after the ban was announced. Comment! [Commodities, Global & FX]
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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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Skull & Bones: China's gonna crash & burn. Commodity Supercycle is gasping here.
LATEST REPLIES
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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.
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Ghosts of Kariela: Writing puts at this point provides some nice entries. If you are fine with being assigned it looks like a good deal long term.
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Energysystems: I've meant to learn about options this winter...I still need to do that lol