Freeport-McMoRan: Bargain Bin [Seeking Alpha]
Freeport-McMoRan, Inc. (FCX)
Last freeport-mcmoran, inc. earnings: 4/24 07:30 am
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US:NYSE Investor Relations:
investors.fcx.com/investors/presentations/default.aspx
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Source: Seeking Alpha
Summary Below $10, Freeport-McMoRan is down 50% off the yearly highs. The stock has fallen far more than the key copper price that drives strong cash flows. The company is headed into a transition year with the Grasberg mine in 2019. The $14 billion valuation is incredibly low for operating cash flows that could easily rebound to $5+ billion in 2021. In the last year, Freeport-McMoRan ( FCX ) has dropped about 50% from the highs to dip below $10. The price of copper has seen nowhere near the same drop suggesting the market is overplaying the weakness in the business and supporting my bullish thesis . Image Source: Freeport-McMoRan website Copper Isn't The Problem Though copper has recently taken a leg lower, the price of copper during Q4 has approximately matched the prices during Q3 around $2.80/lb. The real issue is where copper heads from here as the global economy goes into an apparent slowdown. Probably, the bigger short-term issue w
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FCX
News
- Freeport warns copper export ban could cost Indonesia $2 bln in lost revenue [Yahoo! Finance]Yahoo! Finance
- Freeport-McMoRan Declares Quarterly Cash Dividends on Common StockBusiness Wire
- Prismo Metals Assays up to 5.69% Copper at the Hot Breccia Project in the Arizona Copper Belt [Yahoo! Finance]Yahoo! Finance
- Freeport-McMoRan (FCX) Gains As Market Dips: What You Should Know [Yahoo! Finance]Yahoo! Finance
- 13 Most Profitable Gold Stocks To Invest In [Yahoo! Finance]Yahoo! Finance
FCX
Earnings
- 1/25/24 - Beat
FCX
Sec Filings
- 2/16/24 - Form 4
- 2/16/24 - Form 4
- 2/16/24 - Form 4
- FCX's page on the SEC website