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Investors Are Interested in These Key Updates from Freeport

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Nov. 20 2020, Updated 4:25 p.m. ET

Freeport’s 4Q17 earnings call

Freeport-McMoRan (FCX) is scheduled to hold its 4Q17 earnings call on January 25. In this article, we’ll look at the key updates that investors should look for in Freeport’s 4Q17 earnings call.

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Macro updates

During Freeport’s 4Q17 earnings call, it will be interesting to hear Freeport’s views on copper markets (GLEN-L). Copper prices have been trading largely sideways this year after the strong rally in December. Specifically, the markets could watch what Freeport has to say on the copper demand-supply equation. Notably, last year, better-than-expected demand from China lifted copper prices (ANTO). We also saw supply disruptions at leading mines owned by companies including BHP Billiton (BHP) and Southern Copper (SCCO).

In 2018, supply-side issues remain a concern as several leading copper mines are expected to negotiate labor contracts this year. During its 4Q17 call, markets will want to hear what Freeport thinks about the upcoming labor contracts.

Company-specific factors

Grasberg issues could also come up during Freeport’s 4Q17 call. Despite several reports suggesting that a solution to the issue is around the corner, we haven’t seen any concrete progress, as the two sides still seem at odds over the valuation. Along with Grasberg, markets will watch Freeport’s capital expenditure plans. During the last couple of earnings calls, Freeport has been showcasing organic growth prospects in its America mines. During its 4Q17 earnings call, markets will also look for cues on whether any of these projects will be under consideration this year.

Don’t forget to check our Metals and Mining page for ongoing updates on this industry.

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