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Stock Market & Financial Investment News

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May 13, 2014
04:55 EDTTX, TX, TX, HL, HL, HL, BHP, BHP, BHP, VALE, VALE, VALE, GG, GG, GG, ATI, ATI, ATI, GOLD, GOLD, GOLD, VMC, VMC, VMC, SLW, SLW, SLW, PPP, PPP, PPP, AAUKY, AAUKY, AAUKY, RIO, RIO, RIO, FCX, FCX, FCX, GLNCY, GLNCY, GLNCYBofA/Merrill to hold a conference
2014 Global Metals, Mining & Steel Conference is being held in Miami Beach on May 13-15.
News For GLNCY;FCX;RIO;AAUKY;PPP;SLW;VMC;GOLD;ATI;GG;VALE;BHP;HL;TX From The Last 14 Days
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July 23, 2015
10:10 EDTFCXFreeport McMoRan says company highly leveraged to copper prices
Slowdown of economy in China has had an impact. Doesn't see a hard landing for China economy. Comments made on Q2 earnings call.
08:07 EDTFCXFreeport McMoRan files registration statement for possible IPO of O&G stake
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08:05 EDTFCXFreeport McMoRan sees consolidated sales of 1B pounds of copper in Q3
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08:04 EDTFCXFreeport McMoRan sees consolidated sales of 4.2B pounds of copper in FY15
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08:02 EDTFCXFreeport McMoRan reports Q2 adjusted EPS 14c, consensus 7c
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July 22, 2015
13:47 EDTFCXEarnings Watch: Morgan Stanley positive on Freeport-McMoRan ahead of Q2 results
Freeport-McMoRan (FCX) is expected to report second quarter earnings on Thursday, July 23, before the market open with a conference call scheduled for 10:00 am ET. Freeport-McMoRan is a natural resource company with an industry portfolio of mineral assets, oil and natural gas resources, and a production profile. EXPECTATIONS: Analysts are looking for earnings per share of 7c on revenue of $4.28B, according to First Call. The consensus range for EPS is (15c)-17c on revenue of $3.68B-$5.11B. LAST QUARTER: Freeport-McMoRan reported first quarter adjusted EPS of (6c) against estimates for (7c), on revenue of $4.15B against estimates for $4.06B. Consolidated sales for Q1 totaled 960M pounds of copper, 263K ounces of gold, 23M pounds of molybdenum and 12.5M barrels of oil equivalents, compared with 871M pounds of copper, 187K ounces of gold, 27M pounds of molybdenum and 16.1 MMBOE in Q1 of last year. Consolidated sales for 2015 are expected to approximate 4.2B pounds of copper, 1.3M ounces of gold, 95M pounds of molybdenum and 52.3 MMBOE. The company forecast FY16 sales of copper at 5.4B pounds and sales of gold at 1.9M oz. It sees FY17 sales of copper at 5B pounds and sales of gold at 2.4M oz. Capital expenditures are expected to approximate $6.5B for 2015, including $2.5B for major projects at mining operations and $2.8B for oil and gas operations. Freeport-McMoRan said it has taken actions to reduce or defer capital expenditures and other costs and is evaluating funding alternatives to advance growth projects in its oil and gas business, including consideration of a sale of public equity for a minority interest in its oil and gas subsidiary. On its Q1 conference call, management said they were optimistic for mid-term and long-term prospects for business. STREET RESEARCH: Sentiment on the Street leading up to Freeport’s Q2 report has been positive. On April 28, Morgan Stanley upgraded Freeport-McMoRan to Overweight from Equal Weight with a $29 price target. The firm had reduced concerns about financing due to ramping volumes and cost declines. Morgan Stanley believed Freeport-McMoRan's copper growth projects were near an inflection point and production increases would drive a 28% volume increase at a lower cost and reduced capex. On June 9, Morgan Stanley said Freeport-McMoRan’s valuation was attractive. The firm believed Freeport's Q1 was a multi-year trough for earnings and free cash flow. Morgan Stanley saw minimal execution risk at three key projects and expected costs to decline 22% in 2016. Morgan Stanley viewed Freeport's valuation as attractive and reiterated its Overweight rating and $29 price target. PRICE ACTION: Freeport’s shares are down about 25% since the company's Q1 report and have plummeted more than 60% over the past twelve months. In afternoon trading ahead of Thursday's Q2 report, Freeport’s shares are down about 4.7%.
10:26 EDTGGOptions with increasing implied volatility
Options with increasing implied volatility: LOCK DUST JNUG CHK LINE LNCO CNX ABX GG GDX
05:39 EDTGGGoldcorp implied volatility of 54 at upper end of index
05:36 EDTBHPBHP Billiton reports FY15 group production up 9%
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July 21, 2015
14:10 EDTATIAllegheny Technologies downgraded to Neutral from Buy at BofA/Merrill
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13:32 EDTATIAllegheny Technologies weakness a buying opportunity, says Stifel
10:31 EDTGGOptions with increasing implied volatility
Options with increasing implied volatility: DUST JNUG LINE CHK CNX INSY ABX GG GDX NEM
07:19 EDTATIAllegheny Technologies sees FY15 capex roughly $250M
“Our balance sheet remains solid, with cash on hand of $251M at the end of the second quarter 2015 and no borrowings outstanding under our $400M domestic borrowing facility. Total debt to total capitalization of 37.0% at the end of the second quarter 2015 was unchanged from year-end 2014. Including expected payments associated with the HRPF project, we now expect 2015 capital expenditures to be approximately $250M, of which $63M has been spent in the first six months of 2015.”
07:16 EDTATIAllegheny Technologies reports Q2 EPS (15c), consensus 4c
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July 20, 2015
16:22 EDTGGOn The Fly: Top stock stories for Monday
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15:11 EDTATIAllegheny Technologies technical notes before earnings
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13:15 EDTGGGoldcorp volatility increases as shares near ten-year low
Goldcorp 30-day call volatility is at 52, compared to a one-month ago level of 35.
13:10 EDTFCXFreeport McMoRan 30-day call volatility increases as gold pulls back
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10:00 EDTFCXFreeport McMoRan hits new 52-week low, levels to watch
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07:11 EDTPPPPrimero expects to replace FY15 production with drilling from 1H15
Primero Mining Corp provided an update on its recent exploration activities at the Black Fox Complex, located near Timmins, Ontario, Canada, and at the San Dimas mine located in Durango, Mexico. Based on the success of its exploration activities to date, the company expects to replace its estimated full-year production with the results of exploration drilling from the first half of 2015. Additionally, the company has approved $6.1M in capital expenditures to advance a ramp to access the Deep Central Zone at Black Fox. "Our 2015 exploration program has been very successful so far," commented Joseph F. Conway, CEO. "Exploration drilling during the first half of 2015 is expected to have already replaced our estimated full-year production at both Black Fox and San Dimas. Drilling at the Black Fox mine has expanded the mineralization in the Deep Central Zone and importantly indicates that mineralization is continuous between the current production level and at least 800 metres below surface. Exploration has been focused on delineating mineralization between the current 560 metre production level, which has an average grade of approximately 6.0 grams per tonne, and the Deep Central Zone with higher-grade mineralization extending to 800 metres, currently with an average grade of approximately 8.5 grams per tonne. As we continue to drill deeper at Black Fox we are encountering higher average grades and wider continuity, which is very promising for the future of the mine. In addition, drilling at San Dimas continues to expand the recently discovered Jessica vein and also delineate other high-grade veins such as Victoria and Perez."
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