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Freeport-McMoRan (FCX) closed the most recent trading day at $41.40, moving -0.5% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.3% for the day. Elsewhere, the Dow lost 0.54%, while the tech-heavy Nasdaq added 0.25%.Prior to today's trading, shares of the mining company had gained 5.29% over the past month. This has outpaced the Basic Materials sector's loss of 0.14% and the S&P 500's gain of 3.42% in that time.Analysts and investors alike will be keepin ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Let's take a look at what these Wall Street heavyweights have to say about Freeport-McMoRan (FCX) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Freeport-McMoRan currently has an average brokerage reco ...

Shares of copper miner Freeport-McMoRan Inc (NYSE:FCX) are 0.3% lower at $45.04 at last look, starting what could be a month-long trend as FCX trades near a historically bearish moving averageAccording to data from Schaeffer's Senior Quantitative Analyst Rocky White, FreePort-McMoRan stock just came within one standard deviation of its 50-day trendline. Per White, five similar pullbacks have occurred over the past three years. One month after 40% of these signals, FCX had negative returns, averaging a 3.9% ...

Source: Michael Ballanger 08/14/2024 Even though copper prices bottomed on Thursday, Michael Ballanger of GGM Advisory Inc. still thinks Freeport-McMoRan Inc. FCX is a Buy. Freeport-McMoRan Inc. Copper prices bottomed on Thursday, August 8, right before the Sunday-Monday crash in the Nikkei and subsequent policy reversal by BoJ Deputy Governor Uchida, so any rallies from here, given the 25% pullback off the May 20 top at $5.199/lb., are going to be seen as bear market rallies. Nevertheless, you can make a ...

业绩概况 - 公司第二季度和前六个月的业绩受到印尼铜精矿和阳极泥出口许可证到期导致的运输延迟的影响[143] - 第二季度和前六个月的净利润分别为6.16亿美元和10.89亿美元，同比分别增加79%和8%[144] 产量预测 - 2024年全年铜产量预计为409亿磅、黄金180万盎司、钼8200万磅[149,150] - 2024年第三季度预计铜销量为10亿磅、黄金47.5万盎司、钼2000万磅[152] 成本和现金流预测 - 2024年全年预计单位净现金成本为每磅铜1.63美元[154] - 2024年全年预计运营现金流约为72亿美元[155] - 2024年资本支出预计为47亿美元，主要用于格拉斯伯格矿区地下矿山开发和北美扩张项目[156,157] 价格情况 - 铜、黄金和钼价格在第二季度创下新高[160,166,167] - 公司认为铜的基本面有利，供给有限而需求持续增长[161] 第二季度和上半年业绩 - 2024年第二季度和上半年铜、金和钼的销量和平均实现价格情况[172][173][174][177][178] - 2024年第二季度和上半年公司收入的变化情况,包括销量、价格、以前期间临时定价调整等因素的影响[174][176][177][178][179][180][181] - 2024年第二季度和上半年公司生产和交付成本的变化情况,包括单位现金成本和折旧摊销等[186][187][188] - 2024年第二季度和上半年公司环境义务和关闭成本的变化情况[189][190] - 2024年6月30日公司有188百万磅铜产品尚未最终定价,每0.05美元的价格变动会影响2024年收入约1800万美元[180][181] - 公司第二季度利息支出净额为1.81亿美元，同比下降22.6%[191] - 资本化利息增加主要由于PT-FI新的下游加工设施建设和开发项目增加[192] - 其他收益净额增加主要由于2024年上半年冲回了部分应付MIND ID的潜在税务纠纷损失准备[193] - 公司2024年上半年整体有效税率为34%，其中美国业务为0%[195][196][197][198] - 归属于非控股权益的净收益为14亿美元，主要来自PT-FI、塞罗维德和埃尔阿布拉[199][200][201] 项目进展 - 公司所有运营地点均获得了铜印章或钼印章认证，体现了负责任的生产实践[202] - 公司在北美和南美的浸出创新项目持续推进，2024年上半年新增产能1.06亿磅[203] - 公司正在进行多个潜在扩产项目的可行性和优化研究，预计2024年全年研究费用约2亿美元[204] - 公司正在评估巴达德选厂产能扩大一倍的项目,预计需要35-40亿美元投资[208] - 公司正在推进萨福德/隆星项目,以实现年产3亿磅氧化矿铜的目标[209] 北美铜矿业务 - 公司的北美铜矿单位净现金成本为每磅3.19美元，较2023年同期的2.51美元有所上升，主要反映了铜产量下降、采矿成本上升以及钼副产品贡献下降的影响[227] - 公司预计2024年北美铜矿的单位净现金成本将约为每磅3.10美元，假设2024年下半年钼价为每磅20.00美元[230] 南美铜矿业务 - 公司在秘鲁的Cerro Verde铜矿与一个工会签订了新的四年集体劳动协议，并在2024年第二季度产生了6500万美元的非经常性费用[233] - 公司正在评估在智利的El Abra铜矿建设大型选矿厂的可行性，初步估计该项目在铜价低于每磅4.00美元的情况下经济性可行[234] - 2024年第二季度和前六个月,公司南美铜矿的铜销量分别为3.02亿磅和5.86亿磅,较2023年同期有所下降,主要反映了堆浸矿石量下降以及选矿厂产量下降[240] - 公司预计2024年南美铜矿的铜销量将约为12亿磅[241] - 公司南美铜矿的单位净现金成本为每磅2.91美元,较2023年同期的2.48美元有所上升,主要反映了铜产量下降和采矿成本上升的影响[243] - 公司南美铜矿的单位毛利为每磅0.72美元,较2023年同期的1.08美元有所下降[243] - 公司南美铜矿的钼产量为600万磅,较2023年同期的500万磅有所增加[236] - 公司南美铜矿的铜回收率为83.8%,较2023年同期的82.6%有所提高[238] - 南美地区铜生产成本上升,主要反映了塞罗维德矿山新劳资合同相关的非经常性费用以及更高的采矿成本[248] - 塞罗维德铜精矿销售收入扣除了冶炼费用,这些费用会随着销量和铜价的变化而变化[249] - 由于部分资产采用直线法折旧,南美地区的单位折旧率可能会随着资产增加和铜产量及销量的变化而变化[250] - 收入调整主要是由于以前期间临时定价的铜销售价格变化造成的[251] - 预计2024年南美地区铜生产的单位现金成本(扣除副产品收益)将约为每磅2.47美元[252] PT-FI业务 - 印尼PT-FI矿山在2024年6月完成了新炼铜厂的建设,并开始调试生产,预计到年底将达到满产[261,262] - PT-FI在2024年上半年为新下游

If we look at the returns of various asset classes in the last twenty years, commodities are the most undervalued. During this period, the Bloomberg Commodity Index has delivered negative returns at a CAGR of 0.4%. Of course, this has been amidst volatility, but there is a strong case for healthy returns from commodities in the next five to ten years. From an investment perspective, it’s a good time to consider undervalued industrial commodity stocks.Besides the long-term factor, there is another reason to ...

Investors should be looking to take advantage of the dip in the price of copper, and this stock is an ideal way to do that.Having crossed $5 per pound in May, the price of copper has declined to around $4.12 per pound, and that fall has taken the share price of copper miner Freeport-McMoRan (FCX 1.05%) with it -- it's down almost 18% since copper crossed $5 per pound. That said, these kinds of dips often create buying opportunities in commodity stocks, which is the case now. Here are three reasons why.Freep ...

Energy Metals News CommentaryIssued on behalf of Usha Resources Ltd. VANCOUVER, BC, July 26, 2024 /PRNewswire/ -- Energy Metals News – Despite recent setbacks in the price of copper (falling 20% in just two months), analysts at big banks and funds such as BMO, Citi, and Goldman Sachs believe that factors such as a recent Chinese smelter supply shortage and constrained mine supply will push the red metal's price back up. According to a report from Financial Times, the world's largest copper miners are predic ...

文章核心观点 - 铜价大幅下跌约20%,给Freeport-McMoRan(FCX)带来不利影响 [2] - 公司二季度业绩表现良好,非GAAP每股收益超预期,收入同比增长超15% [3][4] - 公司计划恢复股票回购,并保持强劲的自由现金流 [6] - 未来几年公司业绩有望大幅增长,但目前估值不算便宜 [8][13][14] 公司经营情况 - 二季度铜产量为10亿磅,黄金产量443,000盎司,钼产量2000万磅 [4] - 全年铜产量预计为41亿磅,黄金产量180万盎司,钼产量8200万磅 [4] - 二季度业绩好转得益于成本下降和铜价上涨,但黄金销售收入预计下降约10% [5] - 公司计划恢复股票回购,这是两年来首次 [6] - 公司自由现金流表现强劲 [6][23] 行业及市场环境 - 铜价大幅下跌约20%,给公司带来不利影响 [2] - 宏观经济放缓、美元走强、劳动力成本上升等因素可能对公司业绩造成不利影响 [7] - 公司面临矿山运营挑战和潜在的监管变化风险 [7] - 未来几年铜价有望保持在4-5美元/磅的水平 [22] 估值与展望 - 分析师预计公司未来几年每股收益将大幅增长,2026年可达2.5美元 [8] - 公司股息预计将增至0.85美元,但需视自由现金流情况而定 [9] - 公司当前估值不算便宜,市盈率约20倍 [9][14] - 从技术面来看,公司股价有望在低40美元区域获得支撑 [26][27][28]