Freeport-McMoRan Inc. (FCX), a natural resource company, acquires, explores, and develops mineral assets, and oil and natural gas resources. The company explores for copper, gold, molybdenum, cobalt hydroxide, silver, and other metals, as well as oil and gas. It holds interests in various mines located in the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, Miami, Chino, Tyrone, Henderson, and Climax in North America; Cerro Verde and El Abra in South America; and the Tenke Fungurume minerals district in the Democratic Republic of Congo, Africa. The company's oil and gas operations include oil production facilities in the Deepwater Gulf of Mexico; oil production facilities onshore and offshore in California; onshore natural gas resources in the Haynesville shale in Louisiana; natural gas production from the Madden area in central Wyoming; and a position in the Inboard Lower Tertiary/Cretaceous natural gas trend onshore located in South Louisiana. As of December 31, 2015, its consolidated recoverable proven and probable mineral reserves included 99.5 billion pounds of copper, 27.1 million ounces of gold, 3.05 billion pounds of molybdenum, 271.2 million ounces of silver, and 0.87 billion pounds of cobalt; and its estimated proved oil and natural gas reserves totaled 252 million barrels of oil equivalents. The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014. Freeport-McMoRan Inc. was founded in 1987 and is headquartered in Phoenix, Arizona.
Held above the 200MA, and got above the resistance currently. MACD just crossed over as well, and the MA's are about to crossover as well.
Freeport Said Offering Packages of Assets to Cut $20 Billion Debt Freeport-McMoRan Inc. is trying to sell stakes in packages of mining and energy assets as the biggest publicly traded copper miner steps up efforts to reduce debt, three people with knowledge of the matter said. Read full article here: http://bloom.bg/1NFJYlt
Reported before open today (4/26/16) Earnings: EPS -$0.16 Revenue $3,527M Estimates: EPS -$0.20 Revenue $3,667M
Had a feeling 14 was gonna be the top. I have been looking for that to be the top for a while. I have been in and out of FCX over the years but re entered January 12 at 3.86. Planning to hold for a while. Want to see if dopping dollar will boost commodities. A big drop in the dollar is something I have been looking for over the past few months.
Reported before open today (7/26/16) Earnings: EPS -$0.02 Revenue $3.33B Estimates: EPS -$0.01 Revenue $3.7B Up 2.38% today
Analyst Upgrade/Downgrade Update Brokerage firm: BofA/Merrill Change: Coverage Resumed Previous Rating: N/A Current Rating: Underperform Previous Price Target: N/A Current Price Target: N/A
Freeport-McMoRan misses 3Q profit forecasts PHOENIX (AP) _ Freeport-McMoRan Inc. (FCX) on Tuesday reported third-quarter net income of $217 million, after reporting a loss in the same period a year earlier. The Phoenix-based company said it had profit of 16 cents per share. Earnings, adjusted for non-recurring gains, were 13 cents per share. The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share. The mining company posted revenue of $3.88 billion in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $3.86 billion. Freeport-McMoRan shares have increased 50 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 5 percent.