Freeport-McMoRan slashes $1.3 billion in costs to stem COVID-19 fallout [Reuters]
Freeport-McMoRan, Inc. (FCX)
Last freeport-mcmoran, inc. earnings: 4/24 07:30 am
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Source: Reuters
Freeport-McMoRan slashes $1.3 billion in costs to stem COVID-19 fallout (Reuters) - Freeport McMoRan Inc, the world’s largest publicly traded copper producer, said on Friday it would cut its 2020 costs by 18 percent, or $1.3 billion, as prices for the red metal plunge due to the global spread of COVID-19. The cost cuts involve employee layoffs, delays to expansion projects and output reductions of about 400 million pounds of copper, mostly in the company’s Americas mines. The cuts also take into account a 50 percent drop in diesel prices so far this year. The red metal is widely seen as a key barometer of economic health in part due to its use in manufacturing, which has slowed dramatically during the pandemic. Copper prices are down about 20 percent in the past year. “What this plan will do is carry us over to brighter days for our company,” Chief Executive Richard Adkerson said on a Friday conference call with investors. The company said the moves should help it end the year with $1
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News
- Levi & Korsinsky Announces the Filing of a Securities Class Action on Behalf of Freeport-McMoRan Inc.(FCX) ShareholdersPR Newswire
- 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
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