In historic move, L.A. bans new oil wells, phases out existing ones [Los Angeles Times (CA)]
Freeport-McMoRan, Inc. (FCX)
Last freeport-mcmoran, inc. earnings: 4/24 07:30 am
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Source: Los Angeles Times
once-booming petroleum industry and whose residents have suffered with decades of environmental consequences as a result. In a 12 to 0 vote, the council approved a new ordinance that immediately bans new oil and gas extraction and requires that all existing oil and gas extractions stop production within 20 years. The move is opposed by the oil industry, whose leaders warned city officials that the move would hurt the city's finances and make L.A. more dependent on foreign oil. According to the city's planning department, Los Angeles has 26 oil and gas fields and more than 5,000 oil and gas wells. Some of the wells are active, while others are idle. Advertisement Many wells are found in the Wilmington and harbor areas, but also operate in downtown, West Los Angeles, South Los Angeles, and the northwest San Fernando Valley, according to the city's planning department. Oil wells are known to emit likely carcinogens including benzene and formaldehyde, and living near wells is
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News
- 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
- Freeport-McMoRan Inc. (NYSE:FCX) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
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