Freeport-McMoRan ramps up cost-cut measures on virus hit, shares rise [Reuters]
Freeport-McMoRan, Inc. (FCX)
Last freeport-mcmoran, inc. earnings: 4/24 07:30 am
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Source: Reuters
Freeport-McMoRan ramps up cost-cut measures on virus hit, shares rise (Reuters) - Miner Freeport McMoRan said on Friday it would cut annual spending and start furlouging employees as copper prices plunge due to weak demand and companies, hit by the coronavirus pandemic, scale back operations. Freeport, whose shares climbed over 3% in premarket trading, announced a $1.3 billion cut to its 2020 estimated operating costs. The company, which had launched an internal review last month to cut costs, said it would reduce its capital expenditure by $800 million from an estimated $2.8 billion. It is also temporarily reducing some employee benefits and cutting third-party services. The miner had suspended quarterly dividend for May as concerns in the sector rose over falling demand, and supply chain issues due to government-forced mining closures that have hit production. The steps are “necessary to protect long-term asset values in the current weak and uncertain economic environment,” Chief Ex
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News
- Freeport-McMoRan (NYSE:FCX) had its price target raised by analysts at JPMorgan Chase & Co. from $50.00 to $58.00. They now have an "overweight" rating on the stock.MarketBeat
- Freeport-McMoRan (NYSE:FCX) had its price target lowered by analysts at BNP Paribas Exane from $58.00 to $56.00. They now have an "outperform" rating on the stock.MarketBeat
- FCX Investors Have Opportunity to Lead Freeport-McMoRan Inc. Securities Fraud Lawsuit with the Schall Law FirmGlobeNewswire
- Freeport-McMoRan Inc. (FCX) Investors are Encouraged to Act before the Upcoming January 12 Securities Fraud Deadline – Contact BFA Law if You Lost MoneyGlobeNewswire
- Freeport-McMoRan Inc. Securities Fraud Class Action Lawsuit Pending: Contact Levi & Korsinsky Before January 12, 2026 to Discuss Your Rights – FCXGlobeNewswire
FCX
Earnings
- 10/24/25 - Beat
FCX
Sec Filings
- 12/2/25 - Form 4
- 11/18/25 - Form 8-K
- 11/6/25 - Form 10-Q
- FCX's page on the SEC website