FCX Stock Recent News

Freeport-McMoRan Inc. (NYSE:FCX ) Q2 2024 Earnings Conference Call July 23, 2024 10:00 AM ET Company Participants David Joint - Vice President, Investor Relations Richard Adkerson - Chairman Kathleen Quirk - President & Chief Executive Officer Cory Stevens - President, Mining Services Mark Johnson - President & Chief Operating Officer, Freeport-McMoRan Indonesia; Executive Vice President, PT Freeport Indonesia Conference Call Participants Alan Spence - BNP Paribas Carlos De Alba - Morgan Stanley Liam Fitzpatrick - Deutsche Bank Bob Brackett - Bernstein Orest Wowkodaw - Scotiabank Michael Dudas - VRP Lawson Winder - Bank of America Securities Brian MacArthur - Raymond James Bill Peterson - JPMorgan Operator Ladies and gentlemen, thank you for standing by. Welcome to the Freeport-McMoRan Second Quarter Conference Call.

Freeport (FCX) second-quarter earnings and revenues top estimates on higher copper and gold prices.

The headline numbers for Freeport-McMoRan (FCX) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

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.

Freeport-McMoRan expects disappointing Q2 results due to copper export disruptions in Indonesia. Despite short-term challenges, the copper miner plans to increase copper production by up to 50% by 2030, with the potential for significant cash flows if copper prices rise. The stock is a buy due to the massive copper reserves and potential for higher copper prices from the current demand growth cycle outstripping supply.

While Freeport (FCX) is expected to have gained from higher copper prices in Q2, increased costs and lower sales volumes are likely to have affected its results.

Freeport-McMoRan (FCX) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Freeport-McMoRan (FCX) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.

When analysts discuss mining and resource extraction, copper tends to receive less attention due to its less obvious applications and importance to several industries. But with the way several technologies are heading, including robotics and manufacturing, copper could become just as central to the global economy as lithium or steel.

The outlook of Zacks Mining - Non Ferrous industry is promising, backed by strong demand from the energy-transition trend. Stocks like SCCO, FCX, LUNMF, CDE and ERO are poised well to benefit from this.