Latest news with #FCX
Yahoo
6 days ago
- Business
- Yahoo
Morgan Stanley, UBS, and JPMorgan Raise their PT on Freeport-McMoRan Inc. (FCX)
Due to strong hedge fund interest, Freeport-McMoRan Inc. (NYSE:FCX) is among the . Copyright: tomas1111 / 123RF Stock Photo Several analysts have raised their price target on Freeport-McMoRan Inc. (NYSE:FCX), amid a mixed outlook for copper. On July 15, 2025, Morgan Stanley increased its price target on FCX from $45 to $54. However, it downgraded its rating from 'Equal Weight' to 'Overweight'. The analyst attributed the downgrade to a weaker outlook on copper equities following their recent outperformance over the past few months. Meanwhile, on July 11, 2025, UBS downgraded Freeport-McMoRan Inc. (NYSE:FCX) from 'Buy' to 'Neutral' and raised its price target from $45 to $50. The analyst expects demand to soften in the near future, with fundamentals potentially driving prices down over the next six months. Furthermore, on July 9, 2025, JPMorgan, maintaining an 'Overweight' rating on Freeport-McMoRan Inc. (NYSE:FCX), increased its price target from $42 to $56, citing higher copper price targets and easing recession risk. Headquartered in Phoenix, Arizona, Freeport-McMoRan Inc. (NYSE:FCX) runs mineral mining operations in North America, South America, and Indonesia, exploring for copper, gold, molybdenum, silver, and other metals. It is included in our list of the Best Material Stocks. While we acknowledge the potential of FCX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and 11 Best Mineral Stocks to Buy According to Hedge Funds. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
6 days ago
- Business
- Business Insider
Freeport-McMoRan (FCX): New Buy Recommendation for This Basic Materials Giant
In a report released today, Katja Jancic from BMO Capital maintained a Buy rating on Freeport-McMoRan, with a price target of $54.00. The company's shares closed today at $44.84. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. According to TipRanks, Jancic is a 4-star analyst with an average return of 12.5% and a 66.25% success rate. Jancic covers the Basic Materials sector, focusing on stocks such as Nucor, Algoma Steel Group, and Freeport-McMoRan. In addition to BMO Capital, Freeport-McMoRan also received a Buy from Bank of America Securities's Lawson Winder in a report issued today. However, on the same day, Morgan Stanley reiterated a Hold rating on Freeport-McMoRan (NYSE: FCX). The company has a one-year high of $52.61 and a one-year low of $27.66. Currently, Freeport-McMoRan has an average volume of 13.1M. Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FCX in relation to earlier this year. Last month, Ellie L. Mikes, the CAO of FCX sold 8,584.00 shares for a total of $343,445.84.
Yahoo
7 days ago
- Business
- Yahoo
Freeport-McMoRan Copper And Gold Volumes Shine, CEO Touts China, India As Major Demand Driver
Freeport-McMoRan Inc. (NYSE:FCX) reported better-than-expected second-quarter results on Wednesday, driven by strong copper and gold sales volumes, lower costs, and favorable pricing. The company also marked a major operational milestone with the start-up of its new copper smelter in Indonesia. The company posted adjusted earnings of 54 cents per share, beating the consensus estimate of 44 cents. Revenue was $7.58 billion, topping expectations of $7.09 billion. Net income attributable to common stock totaled $772 million, or 53 cents per share, while adjusted net income was $790 million, or 54 cents, after excluding net charges of $18 million. Also Read: Second-Quarter Production And Sales Volumes Copper production totaled 963 million pounds, with sales of 1.0 billion pounds Gold production was 317,000 ounces, with sales of 522,000 ounces Molybdenum production and sales both totaled 22 million pounds All sales volumes exceeded Freeport's April 2025 guidance. Higher U.S. milling rates and refined gold sales timing helped offset weaker ore grades in Indonesia and South America. During the period, average realized prices stood at $4.54 per pound for copper, $3,291 per ounce for gold, and $21.10 per pound for molybdenum. Unit net cash costs for copper averaged $1.13 per pound, well below guidance of $1.50 and down from $1.73 a year earlier, primarily due to stronger by-product credits and higher copper sales. Tariffs And Market Premiums Freeport said that the recently announced U.S. tariffs on copper imports, set to take effect on August 1, had not yet significantly impacted Q2 costs. However, the company warned that supplier pass-throughs could increase input costs by roughly 5%. Following the July tariff announcement, COMEX copper prices surged to a 28% premium over LME, potentially enhancing Freeport's domestic sales margins. The company estimates that each $0.10 increase in the COMEX premium over LME could boost second-half 2025 cash flows by $70 million. Freeport launched start-up activities at its new Indonesian smelter in May and expects to produce first copper cathode in July. The company continues to invest in innovative copper leaching and organic growth projects across its portfolio. View more earnings on FCX Capital expenditures for the quarter totaled $1.3 billion, including $600 million for major mining projects and $300 million for PT Freeport Indonesia's downstream facilities. Full-year capital spending is expected to total $4.9 billion. Freeport repurchased 1.5 million shares during the quarter at an average price of $33.94, bringing its year-to-date total to 2.9 million shares for $107 million. As of June 30, Freeport-McMoRan held $4.5 billion in cash and equivalents, with total debt of $9.3 billion and net debt of $1.5 billion, excluding $3.2 billion related to its Indonesian downstream facilities. The company also had $3 billion available under its corporate revolving credit facility and $1.85 billion in combined credit availability at its PT Freeport Indonesia and Cerro Verde operations. 'As a leading copper producer, our role is increasingly important in providing essential metals to a growing market,' stated President and CEO Kathleen Quirk. 'We are well positioned for the future, both domestically, as America's copper champion, and internationally with large-scale production, a strong balance sheet, and a portfolio of attractive growth opportunities.' 2025 Outlook Full-year sales are expected to reach 3.95 billion pounds of copper, 1.3 million ounces of gold, and 82 million pounds of molybdenum. Q3 sales guidance: 1.0 billion pounds of copper, 350,000 ounces of gold, and 18 million pounds of molybdenum Full-year unit net cash costs: projected at $1.55 per pound of copper Operating cash flows are projected to be approximately $7.0 billion for the full year, or $7.9 billion, including the projected $1.25 per pound premium on U.S. copper sales in the second half of 2025. Key Takeaways From Earnings Call Quirk addressed the impending 50% U.S. copper tariff, stating the company is awaiting further details and is unaware of any exemptions. While Q2 costs were not significantly impacted, future tariffs could increase U.S. purchase costs by approximately 5%. Regarding Indonesian copper, the company anticipates continuing to primarily sell in Asia in the near term, but will evaluate the feasibility of shipping to the United States. Expanding the Miami, Arizona copper smelter is under consideration, though building a new U.S. smelter is deemed 'very challenging.' Chairman Richard Adkerson expressed satisfaction with the recent Indonesia-United States trade agreement, while Quirk highlighted China's continued role as a major copper demand driver and identified India as an important growth market. Price Action: FCX shares are trading lower by 0.74% at $45.50 at the last check on Wednesday. Read Next:Image by Siwakorn TH via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? FREEPORT-MCMORAN (FCX): Free Stock Analysis Report This article Freeport-McMoRan Copper And Gold Volumes Shine, CEO Touts China, India As Major Demand Driver originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
San Francisco Chronicle
7 days ago
- Business
- San Francisco Chronicle
Freeport-McMoRan: Q2 Earnings Snapshot
PHOENIX (AP) — PHOENIX (AP) — Freeport-McMoRan Inc. (FCX) on Wednesday reported second-quarter earnings of $772 million. The Phoenix-based company said it had net income of 53 cents per share. Earnings, adjusted for non-recurring costs, were 54 cents per share. The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share. The mining company posted revenue of $7.58 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $7.12 billion. _____
Yahoo
7 days ago
- Business
- Yahoo
Freeport Second-Quarter and Six-Month 2025 Financial and Operating Results Release Available on Its Website
PHOENIX, July 23, 2025--(BUSINESS WIRE)--Freeport (NYSE: FCX) today announced that it has posted its second-quarter and six-month 2025 financial and operating results press release on the Investor Relations page of its website at As previously indicated on its website, FCX will host a conference call today with securities analysts at 10:00 a.m. Eastern Time to discuss quarterly and six-month results. The conference call will be webcast on the Internet along with slides. Interested parties may listen to the conference call live and view the slides on the Investor Relations page of FCX's website at A replay of the webcast will be available through Friday, August 22, 2025. FREEPORT: Foremost in Copper FCX is a leading international metals company with the objective of being foremost in copper. Headquartered in Phoenix, Arizona, FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is one of the world's largest publicly traded copper producers. FCX's portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world's largest copper and gold deposits; and significant operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru. By supplying responsibly produced copper, FCX is proud to be a positive contributor to the world well beyond its operational boundaries. Additional information about FCX is available on FCX's website at View source version on Contacts Financial Contact:David P. Joint(504) 582-4203 Media Contact:Linda S. Hayes(602) 366-7824 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
