Freeport-McMoRan: Buy On Recent Weakness [Seeking Alpha]
Freeport-McMoRan, Inc. (FCX)
Last freeport-mcmoran, inc. earnings: 4/24 07:30 am
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Source: Seeking Alpha
FabrikaCr/iStock via Getty ImagesFreeport-McMoRan Inc. (NYSE:FCXthis article, the company has the ability to continue generating substantial earnings in the current environment.Freeport-McMoRan 1Q 2022 ResultsFreeport-McMoRan had a respectable reaction toFreeport-McMoRan saw substantial YOY sales growth, along with growth over the company's forecasts. The company achieved costs below expectations, with almost $3.5 / pound in copper profits for 1 billion pounds in sales. The company has decreased its net debt substantially YOY, and we expect the company can continue doing so.The company has continued to invest heavily in its business, however, and its $1 billion in 1Q 2022 FCF comes out to an almost 7% FCF yield. Going forward, supported by continued industrial demand for metals, we expect prices and earnings to remain high.Freeport-McMoRan had distributed copper sales from its global portfolio. In North America, the company's assets now make it its largest (and lowest risk) source of
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News
- How a global race to secure copper supplies sparked a £31bn mega-bid for Anglo American [Yahoo! Finance]Yahoo! Finance
- Freeport-McMoRan Inc. (NYSE: FCX) had its price target raised by analysts at Argus from $44.00 to $54.00. They now have a "buy" rating on the stock.MarketBeat
- Freeport-McMoRan Inc. (NYSE: FCX) had its price target raised by analysts at Raymond James from $49.50 to $54.00. They now have an "outperform" rating on the stock.MarketBeat
- Freeport-McMoRan Inc. (NYSE: FCX) had its price target lowered by analysts at Scotiabank from $55.00 to $53.00. They now have a "sector outperform" rating on the stock.MarketBeat
- Freeport-McMoRan Inc. (NYSE: FCX) had its price target lowered by analysts at JPMorgan Chase & Co. from $52.00 to $51.00. They now have a "neutral" rating on the stock.MarketBeat
FCX
Earnings
- 4/24/24 - Beat
FCX
Sec Filings
- 4/23/24 - Form 8-K
- 4/16/24 - Form PRE
- 4/2/24 - Form 4
- FCX's page on the SEC website