Freeport-McMoRan (FCX) came out with quarterly earnings of $0.46 per share, beating the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 17.95%. A quarter ago, it was expected that this mining company would post earnings of $0.27 per share when it actually produced earnings of $0.32, delivering a surprise of 18.52%.Over the last four quarters, the c ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 2, 2024 Freeport-McMoRan Inc. (Exact name of registrant as specified in its charter) Delaware 001-11307-01 74-2480931 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 333 North Central Avenue Phoenix AZ 85004 (Address of principal ex ...

Halamka/iStock via Getty Images Freeport-McMoRan (NYSE:FCX) expects to report a disappointing quarter this week, but the key to the investment story is always the price of copper. Copper prices have slumped lately, and a pushback on EVs and renewable energy isn't going to help in the short term. My investment thesis still remains Bullish on the stock after the recent pullback due to the strong cash flows produced at higher copper prices. Source: Finviz Tough Quarter Along with Q1 results, Freeport-McM ...

Freeport-McMoRan Inc. (FCX) is set to release second-quarter 2024 results before the opening bell on Jul 23.The mining giant’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 23.5%, on average. While Freeport is expected to have gained from higher copper prices in the second quarter, increased costs and lower sales volumes are likely to have affected its results.The stock has gained 9.6% in the past year compared with ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Freeport-McMoRan (FCX) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on July 23, 2024, might help the stock move higher if these key numbers are better than exp ...

In the latest trading session, Freeport-McMoRan (FCX) closed at $50.38, marking a +1.65% move from the previous day. This move outpaced the S&P 500's daily loss of 0.31%. Elsewhere, the Dow gained 0.67%, while the tech-heavy Nasdaq lost 1.09%.Shares of the mining company witnessed a loss of 3.82% over the previous month, beating the performance of the Basic Materials sector with its loss of 6.38% and underperforming the S&P 500's gain of 2.73%.Analysts and investors alike will be keeping a close eye on the ...

Freeport-McMoRan (FCX) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this mining company have returned -8.2%, compared to the Zacks S&P 500 composite's +4% change. During this period, the Zacks Mining - Non Ferrous industry, which Freeport-McMoRan falls in, has lost 6.8%. The key question now is: What could be the stock's future direction?Althoug ...

Core Thesis - The investment thesis for Freeport-McMoRan (FCX) remains strong due to the long-term electrification trend, with expectations for higher revenues and dividends as copper prices rise [1][2]. Company Performance - FCX has experienced an 11.3% rally, outperforming the market's 3.2% increase, largely due to the Panama mine closure leading to perceived supply tightness [1]. - In FQ1'24, FCX reported a realized copper price of $3.94 per pound, a 3.4% increase QoQ and a 45% increase from the 2019 price of $2.73 [1]. - The company's revenues for FQ1'24 reached $6.32 billion, reflecting a 7.1% increase QoQ and a 17.4% increase YoY [1]. Copper Market Dynamics - Spot copper prices have reached $4.50 per pound, a 14.2% increase YoY and a 73% increase from the 2019 average of $2.60, indicating strong market conditions for FCX [2]. - Projections suggest that copper prices may remain elevated due to ongoing demand from electrification in automotive and renewable energy sectors [3]. Future Outlook - FCX management anticipates over $13 billion in adjusted EBITDA and $9 billion in operating cash flow for FY2024, supported by high copper prices [3]. - The demand for copper is expected to surge significantly, with forecasts indicating an 11x increase in the transport sector and a 4.8x increase in global electricity grids by 2050 [3]. Dividend and Stock Performance - FCX's stock has rallied by 34.3% since February 2024 and 48.2% since October 2023, with most capital appreciation linked to spot prices already reflected [7]. - The company maintains a performance-based dividend policy, currently paying $0.30 per share annually, which may not see significant increases in the near term [7].

Electric vehicle sales are expected to accelerate this year, creating a big opportunity for some of the top EV stocks to buy.We have to remember that 2023 EV sales were strong. U.S. consumers, for example, bought 1.19 million EVs last year, up 46% year-over-year, according to Cox Automotive, as noted by Inside Climate News.It was the first time U.S. EV sales reached a million in a year.For 2024, sales are expected to increase anywhere from 20% to 30%. Plus, according to Michelle Krebs, executive auto analys ...

Freeport-McMoRan (FCX) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this mining company have returned +5.7%, compared to the Zacks S&P 500 composite's +3.2% change. During this period, the Zacks Mining - Non Ferrous industry, which Freeport-McMoRan falls in, has gained 0.5%. The key question now is: What could be the stock's future direction?Whi ...