Core Insights - Freeport-McMoRan Inc. (FCX) reported a net income of $274 million or 19 cents per share for Q4 2024, a decrease of approximately 29.3% from $388 million or 27 cents in the same quarter last year [1] - Adjusted earnings per share were 31 cents, exceeding the Zacks Consensus Estimate of 24 cents [1] - Revenues fell nearly 3.1% year over year to $5,720 million, missing the Zacks Consensus Estimate of $5,921.9 million due to lower copper sales [2] Operational Highlights - Copper production decreased by nearly 4.9% year over year to 1,041 million pounds, missing the estimate of 1,088 million pounds [3] - Consolidated sales of copper dropped around 11.1% year over year to 992 million pounds, surpassing the estimate of 980 million pounds [3] - Gold sales were 350,000 ounces, down approximately 36.2% year over year, but higher than the estimate of 340,000 ounces [4] - Molybdenum sales totaled 18 million pounds, down around 18.2% year over year, lagging behind the estimate of 20 million pounds [4] Financial Position - Operating cash flows amounted to approximately $1.4 billion for Q4 and $7.2 billion for the full year 2024 [6] - Capital expenditures for Q4 reached $1.2 billion, including $0.6 billion for significant mining projects and $0.2 billion for a new smelter and precious metals refinery in PT Freeport Indonesia [6] Guidance - FCX expects consolidated operational cash flows of around $6.2 billion for 2025, based on current sales volume and cost forecasts, assuming average prices of $4.00 per pound of copper, $2,700 per ounce of gold, and $20.00 per pound of molybdenum [7] - Projected capital expenditures for 2025 are around $5 billion, with $1.1 billion allocated for underground mine development in the Grasberg minerals district and expansion projects in North America, and $1.7 billion for discretionary growth projects [8] - Expected consolidated sales for 2025 include approximately 4 billion pounds of copper, 1.6 million ounces of gold, and 88 million pounds of molybdenum, with specific first-quarter estimates of 850 million pounds of copper, 225,000 ounces of gold, and 22 million pounds of molybdenum [9] Price Performance - Freeport's shares have declined by 1.6% over the past year, contrasting with an 11.7% rise in the industry [10]

Core Insights - Freeport-McMoRan reported revenue of $5.72 billion for the quarter ended December 2024, a decrease of 3.1% year-over-year, and an EPS of $0.31, up from $0.27 in the same quarter last year, indicating a positive EPS surprise of 29.17% compared to the consensus estimate [1] Financial Performance - The reported revenue was 3.41% below the Zacks Consensus Estimate of $5.92 billion [1] - Average realized price per pound of copper was $4.21, exceeding the three-analyst average estimate of $4.06 [4] - Gold sales in North America were 7 Koz, significantly higher than the estimated 4.2 Koz [4] - Gold sales in Indonesia reached 343 Koz, slightly above the estimated 338.45 Koz [4] - Copper sales from Indonesia's Grasberg mine were 376 million pounds, below the estimated 392.99 million pounds [4] - Total copper sales in South America were 298 million pounds, slightly above the estimated 290.17 million pounds [4] Revenue Breakdown - Revenues from Indonesia were $2.25 billion, a year-over-year decline of 17.9%, and below the estimated $2.28 billion [4] - Molybdenum revenues were $177 million, representing a 12.7% increase year-over-year, but below the estimated $260.66 million [4] - Revenues from South America copper mines were $1.21 billion, reflecting an 8.5% year-over-year increase, and slightly below the estimated $1.22 billion [4] - North America copper mines generated $1.61 billion, a 15.2% increase year-over-year, exceeding the estimated $1.35 billion [4] - Rod & Refining revenues were $1.47 billion, close to the estimated $1.48 billion, with an 8.8% year-over-year increase [4] - Atlantic Copper Smelting & Refining revenues were $679 million, below the estimated $765.75 million, with a 12.1% year-over-year increase [4] - Corporate, other & eliminations reported -$1.66 billion, worse than the estimated -$1.44 billion, but showing a 14.5% year-over-year improvement [4] Stock Performance - Freeport-McMoRan shares returned -0.3% over the past month, while the Zacks S&P 500 composite increased by 2.7% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Group 1: Earnings Performance - Freeport-McMoRan reported quarterly earnings of $0.31 per share, exceeding the Zacks Consensus Estimate of $0.24 per share, and up from $0.27 per share a year ago, representing an earnings surprise of 29.17% [1] - The company posted revenues of $5.72 billion for the quarter ended December 2024, missing the Zacks Consensus Estimate by 3.41%, and down from $5.91 billion year-over-year [2] - Over the last four quarters, Freeport-McMoRan has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] Group 2: Stock Performance and Outlook - Freeport-McMoRan shares have increased by approximately 2.7% since the beginning of the year, compared to the S&P 500's gain of 3.5% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the upcoming quarter is $0.44 on revenues of $6.18 billion, and for the current fiscal year, it is $1.81 on revenues of $26.93 billion [7] Group 3: Industry Context - The Mining - Non Ferrous industry, to which Freeport-McMoRan belongs, is currently ranked in the top 37% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors or through tools like the Zacks Rank [5][6]

Earnings and Stock Performance - Freeport-McMoRan Inc (FCX) is set to announce quarterly results on Jan 23, with analysts expecting earnings of 25 cents per share [1] - Weaker copper prices in Q4 are likely to impact the company's performance [1] - FCX's stock has shown mixed post-earnings results, with an average 2.7% move after earnings announcements in the past two years [2] - Options traders are pricing in a 6% next-day swing following the upcoming earnings report [2] - FCX's stock is down 1.8% at $39.59, potentially ending a six-day win streak [3] - The stock has risen since hitting a 10-month low of $37.19 on Jan 3, with year-over-year and year-to-date gains of approximately 4% [3] Options and Volatility Analysis - Options trading appears to be a favorable strategy for FCX, as the Schaeffer's Volatility Index (SVI) of 34% indicates low volatility expectations, ranking in the low 20th percentile of its annual range [4] - FCX's Schaeffer's Volatility Scorecard (SVS) of 81 out of 100 suggests the stock has consistently exceeded low volatility expectations over the past year [4]

Core Viewpoint - Freeport-McMoRan Inc. (FCX) is expected to report its fourth-quarter 2024 results on January 23, with anticipated challenges due to weaker copper prices and sales volumes impacting performance [1][2]. Revenue Estimates - The Zacks Consensus Estimate for FCX's fourth-quarter consolidated revenues is $6,003 million, indicating a year-over-year increase of approximately 1.7% [5]. Factors Impacting Performance - Weaker copper prices, driven by reduced demand in China due to the property crisis, are likely to have negatively affected FCX's performance in the fourth quarter [6]. - Copper prices experienced volatility, with a nearly 12% decline in the fourth quarter, closing at around $4 per pound. The estimated average realized price for copper for FCX is $4.06 per pound, reflecting a sequential decline of 5.6% [7]. - Lower sales volumes are also expected to impact performance, with third-quarter copper sales volumes down roughly 7% year-over-year. FCX anticipates consolidated copper sales of 980 million pounds for the fourth quarter, down from 1,035 million pounds in the prior quarter [8]. Earnings Prediction Model - The earnings prediction model does not indicate a conclusive earnings beat for FCX this quarter, with an Earnings ESP of -0.38%. The Zacks Consensus Estimate for earnings is currently set at 25 cents [9][10].

Group 1 - Stock Waves is a team that provides real-time Elliott Wave technical analysis on selected stocks, led by Zac Mannes and Garrett Patten, with contributions from Lyn Alden Schwartzer [1] - The service has reportedly enabled users to achieve significant returns, with some trades yielding 7-10x returns and others providing 3-5x returns [1] Group 2 - The analyst has a beneficial long position in Freeport-McMoran (FCX) through stock ownership, options, or other derivatives [2] - The analyst may adjust their position in FCX based on support and invalidation levels provided to members [3]

Group 1: Stock Performance - Freeport-McMoRan (FCX) closed at $40.22, reflecting a +0.47% change from the previous session, which is less than the S&P 500's daily gain of 1% [1] - Over the last month, FCX shares increased by 4.68%, outperforming the Basic Materials sector's loss of 3.81% and the S&P 500's loss of 2.14% [1] Group 2: Upcoming Earnings - Freeport-McMoRan is set to announce its earnings on January 23, 2025, with an expected EPS of $0.29, indicating a 7.41% growth compared to the same quarter last year [2] - The Zacks Consensus Estimate for revenue is projecting net sales of $6.08 billion, which is a 3% increase from the year-ago period [2] Group 3: Analyst Estimates and Rankings - Recent changes to analyst estimates for Freeport-McMoRan indicate the dynamic nature of near-term business trends, with positive revisions suggesting analyst optimism regarding the company's profitability [3] - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), currently ranks Freeport-McMoRan at 3 (Hold) [5] - Over the past month, there has been a 7.6% decline in the Zacks Consensus EPS estimate [5] Group 4: Valuation Metrics - Freeport-McMoRan is trading at a Forward P/E ratio of 21.11, which aligns with the industry's average Forward P/E of 21.11 [6] - The company has a PEG ratio of 2.2, compared to the Mining - Non Ferrous industry's average PEG ratio of 1.94 [7] Group 5: Industry Context - The Mining - Non Ferrous industry, part of the Basic Materials sector, holds a Zacks Industry Rank of 168, placing it within the bottom 34% of over 250 industries [8] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [8]

In its upcoming report, Freeport-McMoRan (FCX) is predicted by Wall Street analysts to post quarterly earnings of $0.29 per share, reflecting an increase of 7.4% compared to the same period last year. Revenues are forecasted to be $6.08 billion, representing a year-over-year increase of 3%.The consensus EPS estimate for the quarter has undergone a downward revision of 19.5% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their ini ...

In the latest trading session, Freeport-McMoRan (FCX) closed at $40.03, marking no change from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.21% for the day. On the other hand, the Dow registered a loss of 0.16%, and the technology-centric Nasdaq decreased by 0.89%.Coming into today, shares of the mining company had gained 3.41% in the past month. In that same time, the Basic Materials sector lost 5.13%, while the S&P 500 lost 1.56%.Analysts and investors alike will be keepi ...

The most recent trading session ended with Freeport-McMoRan (FCX) standing at $38.88, reflecting a +1.66% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 1.09%. Meanwhile, the Dow gained 1.18%, and the Nasdaq, a tech-heavy index, added 1.03%.Shares of the mining company have depreciated by 12.61% over the course of the past month, underperforming the Basic Materials sector's loss of 8.81% and the S&P 500's loss of 0.71%.The investment community will be closely ...