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Stock Market & Financial Investment News

News Breaks
January 22, 2014
10:34 EDTFCXFreeport McMoRan sees copper sales growing to 5B in 2015, 5.7B in 2016
Freeport estimates copper sales steadily rising during 2013 to 2016 time-frame, from 4.1B in 2013, to 4.4B in 2014, to 5.0B in 2015 and 5.7B in 2016. Sees gold sales growing in 2014 to 1.7M ounces from 1.2M ounces in 2013. Sees 2015 gold sales declining to 1.4M ounces before rising to 3.0M ounces in 2016. Sees molybdenum sales growing to 95M pounds in 2014, to 98M pounds in 2015 and to 100M pounds in 2016. Sees 61 MMBOE of oil and gas sales in 2014, growing to 68 MMBOE in 2015 and 81 MMBOE in 2016. Freeport says copper and gold sales estimates assume not changes to PT-FI's planned concentrate shipments and that outlook will be updated as export approvals are obtained. Production estimates in slides for Q4 earnings call.
News For FCX From The Last 14 Days
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April 23, 2015
10:47 EDTFCXFreeport McMoRan sees FY16 sales of copper 5.4B pounds, sales of gold 1.9M oz
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10:42 EDTFCXFreeport says IPO alternative for O&G business will highlight value
Provides alternative form of equity capital to fund O&G business. FCX says will maintain control and majority ownership of business. Possible timing for FCX O&G offering is late 2015 if market conditions are favorable. Other alternatives will continue to be assessed in the interim.
10:13 EDTFCXFreeport McMoRan optimistic for mid-term, long-term prospects for business
Comment from Q1 earnings conference call.
08:17 EDTFCXFreeport considering sale of minority equity stake in oil and gas unit
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08:05 EDTFCXFreeport McMoRan sees FY15 capex about $6.5B
Capital expenditures are expected to approximate $6.5B for the year 2015, including $2.5B for major projects at mining operations and $2.8B for oil and gas operations.
08:04 EDTFCXFreeport sees Q2 sales of copper 960M pounds, sales of gold 300K oz.
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08:03 EDTFCXFreeport sees FY15 sales of copper 4.2B pounds, sales of gold 1.3M oz.
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08:02 EDTFCXFreeport McMoRan reports Q1 adjusted EPS (6c), consensus (7c)
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April 22, 2015
15:50 EDTFCXNotable companies reporting before tomorrow's open
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13:31 EDTFCXEarnings Watch: Freeport McMoRan expects to sell 950M pounds of copper in Q1
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April 16, 2015
10:58 EDTFCXStocks with call strike movement; RIG FCX
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April 13, 2015
10:00 EDTFCXOn The Fly: Analyst Downgrade Summary
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10:00 EDTFCXOn The Fly: Analyst Upgrade Summary
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07:20 EDTFCXFreeport McMoRan downgraded at BofA/Merrill
As previously reported, BofA/Merrill downgraded Freeport McMoRan to Underperform from Neutral. The firm lowered Freeport McMoRan free cash flow estimates and price target to $19 from $22.50 following a reduction in copper and Brent oil price forecasts and said it does not expect a recovery until 2017 and the dispute over Grasberg remains an overhang.
07:06 EDTFCXFreeport McMoRan downgraded to Underperform from Neutral at BofA/Merrill
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06:11 EDTFCXFreeport McMoRan upgraded to Buy from Neutral at Citigroup
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