Last $37.96 USD
Change Today +0.43 / 1.15%
Volume 5.4M
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As of 12:14 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

freeport-mcmoran copper (FCX) Snapshot

Open
$37.43
Previous Close
$37.53
Day High
$38.12
Day Low
$37.35
52 Week High
07/10/14 - $39.32
52 Week Low
07/31/13 - $27.92
Market Cap
39.5B
Average Volume 10 Days
10.3M
EPS TTM
$2.69
Shares Outstanding
1.0B
EX-Date
07/11/14
P/E TM
14.1x
Dividend
$1.25
Dividend Yield
3.30%
Current Stock Chart for FREEPORT-MCMORAN COPPER (FCX)

freeport-mcmoran copper (FCX) Details

Freeport-McMoRan Inc., a natural resource company, is engaged in the acquisition of mineral assets, and oil and natural gas resources. The company primarily explores for copper, gold, molybdenum, cobalt, silver, and other metals, as well as oil and gas. It operates in North America Copper Mines, South America Mining, Indonesia Mining, Africa Mining, and Molybdenum Mines, United States (U.S.) Oil and Gas Operations, Rod & Refining, and Atlantic Copper Smelting & Refining segments. The company 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, El Abra, Candelaria, and Ojos del Salado in South America; and Tenke Fungurume minerals district in Africa. As of December 31, 2013, its consolidated recoverable proven and probable mineral reserves included 111.2 billion pounds of copper, 31.3 million ounces of gold, 3.26 billion pounds of molybdenum, 308.5 million ounces of silver, and 0.87 billion pounds of cobalt. 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.

36,100 Employees
Last Reported Date: 02/27/14
Founded in 1987

freeport-mcmoran copper (FCX) Top Compensated Officers

Vice Chairman, Chief Executive Officer, Presi...
Total Annual Compensation: $2.5M
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $650.0K
Vice Chairman, Chief Executive Officer of Fre...
Total Annual Compensation: $1.5M
Chief Administrative Officer and Executive Vi...
Total Annual Compensation: $550.0K
Compensation as of Fiscal Year 2013.

freeport-mcmoran copper (FCX) Key Developments

Freeport-McMoRan Confirms Plan To Sell Assets

Freeport-McMoRan Inc. (NYSE:FCX) is looking to sell assets that lack the growth potential of the remainder of its portfolio, Chief Executive Officer Richard Adkerson said. "We're looking at... assets that don't have the growth profiles that our other assets have, and seeing if there are aggressive buyers who will step up and pay good prices for them," he said about potential sale of its Candelaria copper mine in Chile's Atacama region. Adkerson listed "five world-class operations" - mines with potential capacity to grow to 1Boz of copper per year: Peru'sCerro Verde, Chile's El Abra, Morenci in the US, Tenge Fungurume in DR Congo and Indonesia's Grasberg. "We are focused on debt reduction. And if we find assets that don't undermine our ability to grow in the future, and where we have buyers that will pay reasonable prices in relation to cash flows they generate, we will execute those transactions," Adkerson said. Canada's The Globe and Mail said Lundin Mining Corporation (TSX:LUN) would partner with Franco-Nevada Corporation (TSX:FNV) to close a CAD 3 billion.

Freeport-McMoRan Inc. Reports Unaudited Consolidated Earnings and Operating Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Operating Guidance for the Third Quarter and Earnings and Operating Guidance for the Year 2014

Freeport-McMoRan Inc. reported unaudited consolidated earnings results and operating results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues of $5,522 million compared to revenues of $4,288 million for the same period a year ago. Operating income was $1,153 million compared to $639 million last year. Income before income taxes and equity in affiliated companies' net earnings was $986 million compared to $648 million last year. Net income attributable to the company common stockholders was $482 million or $0.46 per basic and diluted share compared to $482 million or $0.49 per diluted share last year. Capital expenditures totaled $2.0 billion for second-quarter 2014. Operating cash flows generated during the quarter totaled $1.4 billion. For the six months, the company reported revenues of $10,507 million compared to revenues of $8,871 million for the same period a year ago. Operating income was $2,264 million compared to $1,994 million last year. Income before income taxes and equity in affiliated companies' net earnings was $1,969 million compared to $1,898 million last year. Net income attributable to the company common stockholders was $992 million or $0.95 per diluted share compared to $1,130 million or $1.17 per diluted share last year. Net cash provided by operating activities was $2,587 million compared to $1,865 million last year. Capital expenditures were $3.6 billion for the first six months of 2014, including $1.4 billion for major projects at mining operations and $1.5 billion for oil and gas operations. At June 30, 2014, consolidated cash totaled $1.5 billion and consolidated debt totaled $20.3 billion. For the quarter, the company reported copper production of 931 million of pounds compared to 909 million of pounds last year. Copper sales excluding purchases were 968 million of pounds compared to 951 million of pounds last year. Gold production was 166 million of pounds compared to 151 million of pounds last year. Gold sales, excluding purchases was 159 million of pounds compared to 173 million of pounds last year. Molybdenum production was 25 million of pounds compared to 24 million of pounds last year. Molybdenum sales, excluding purchases was 25 million of pounds compared to 23 million of pounds last year. For the six months, the company reported copper production of 1,879 million of pounds compared to 1,889 million of pounds last year. Copper sales, excluding purchases was 1,889 million of pounds compared to 1,905 million of pounds last year. Gold production was 397 million of pounds compared to 386 million of pounds last year. Gold sales, excluding purchases was 346 million of pounds compared to 387 million of pounds last year. Molybdenum production was 49 million of pounds compared to 46 million of pounds last year. Molybdenum sales, excluding purchases was 52 million of pounds compared to 48 million of pounds last year. For the third quarter, consolidated sales are expected to approximate 1.1 billion pounds of copper, 445,000 ounces of gold, 23 million pounds of molybdenum and 12.2 MMBOE for third-quarter 2014. For the year 2014, consolidated sales are expected to approximate 4.1 billion pounds of copper, 1.3 million ounces of gold, 98 million pounds of molybdenum and 58.4 MMBOE. Capital expenditures are expected to approximate $7.6 billion for the year 2014, including $3.2 billion for major projects at mining operations and $3.4 billion for oil and gas operations. Operating cash flows are expected to approximate $6.8 billion (net of $0.6 billion of working capital uses and changes in other tax payments) for the year 2014.

Lundin Mining Confirms Plan To Acquire Freeport-Mcmoran's Candelaria Mine

Lundin Mining Corporation (TSX:LUN) is looking to acquire Candelaria Mine from Freeport-McMoRan Inc. (NYSE:FCX). Lundin Mining revealed the information on request on NASDAQ OMX Exchange that it has been actively pursuing potential acquisition of advanced stage projects or an operating mine. But there is no assurance that Lundin Mining will proceed with a transaction. As a general policy Lundin Mining does not comment publicly about acquisition negotiations and intends to make no further comment on a possible transaction unless any such comment is warranted or as required by applicable law.

 

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