Freeport-McMoRan Inc

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  • Freeport-McMoRan employee at a facility
    Basic Materials

    FCX Stock Is a Good Buy for Investors as Copper Prices Top $10,000

    By Mohit Oberoi, CFA
  • uploads///cOPPER
    Basic Materials

    Copper Weaker on August 19 Due to Weaker Demand Signs

    After starting the day with decreased momentum, copper prices remains mixed on Friday, August 19. At 1:50 PM EDT on August 19, the COMEX copper futures contract for September delivery was trading at ~$2.17 per pound, a gain of ~0.16%.

    By Val Kensington
  • uploads///Base Metals
    Company & Industry Overviews

    All of the Base Metals Recovered Except for Tin

    After a string of losing days, base metals recovered on January 13, 2016. Except for tin, all of the base metals rose on January 13 in the LME.

    By Val Kensington
  • uploads///scco fcx divergence
    Company & Industry Overviews

    Is Future Growth Driving the Divergence between Freeport and SCCO?

    Southern Copper (SCCO) is aggressively expanding its copper mining operations while Freeport-McMoRan (FCX) is selling its crown copper assets to repay some of its debt.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    Base Metal Miners Recover

    In the week ended December 26, the equities of all major base metal miners gained, recovering from losses in the week prior.

    By Val Kensington
  • uploads///Copper
    Basic Materials

    Copper Rose to 1-Month High Price Levels on September 20

    At 1:15 PM EST on September 20, the COMEX copper futures contract for December delivery rose ~0.35%. It was trading at $2.16 per pound.

    By Val Kensington
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    Basic Materials

    Can Freeport-McMoRan’s 2Q16 Earnings Justify Its Rally?

    Freeport-McMoRan (FCX) is expected to release its 2Q16 earnings on July 26. In this series, we’ll explore what Wall Street analysts expect from FCX’s 2Q16 earnings.

    By Mohit Oberoi, CFA
  • uploads///part  forward ebitda
    Company & Industry Overviews

    Freeport or Glencore: Which Company Looks Set for 2017?

    According to data compiled by Thomson Reuters, analysts expect Freeport-McMoRan (FCX) to post an adjusted EBITDA of $5.3 billion in 2017, compared to $4.9 billion in 2016.

    By Mohit Oberoi, CFA
  • uploads///Copper
    Basic Materials

    Copper Weakened amid Recovery in Dollar on August 3

    After starting the day on a weaker note on Wednesday, August 3, copper maintained the same sentiment throughout the day and declined lower.

    By Val Kensington
  • uploads///Copper
    Macroeconomic Analysis

    Copper Remains Stable as Brexit Fears Eased

    Although the fundamentals are not as supportive of the Market’s sentiment, the weakness of the dollar and decreased anxiety over the Brexit vote helped copper on Friday.

    By Val Kensington
  • uploads///cOPPER
    Macroeconomic Analysis

    Why Did Copper Ignore Stimulus from China?

    Copper prices experienced a roller coaster ride on Monday after important market-moving news from China.

    By Val Kensington
  • uploads///Miners weekly
    Company & Industry Overviews

    Base Metal Miners Declined the Week Ended January 2, 2016

    The equities of major base metal mining companies fell in the week ended on January 2. Freeport-McMoRan, one of the leading copper producers, fell last week and ended in a loss.

    By Val Kensington
  • uploads///Miners
    Macroeconomic Analysis

    Base Metal Miners on Tuesday, March 22: Some Up, Some Down

    Freeport-McMoRan (FCX), one of the largest copper miners, rose for the second consecutive trading day on Tuesday, March 22, 2016. It closed the day at $10.99, a rise of 1.8%.

    By Val Kensington
  • uploads///Freeport
    Macroeconomic Analysis

    Why Did Merrill Lynch Resume Coverage of Freeport-McMoRan?

    On Wednesday, March 2, 2016, Merrill Lynch resumed Freeport-McMoRan’s (FCX) coverage, with a neutral rating and a price target of $9.

    By Val Kensington
  • uploads///Miners
    Macroeconomic Analysis

    Base Metal Miners Freeport-McMoRan and Glencore Fell Last Week

    Freeport-McMoRan is one of the largest copper miners in the world. It fell for the second consecutive trading week. In the week ending on April 2, it fell 2.2%.

    By Val Kensington
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    Macroeconomic Analysis

    Copper Prices Hold at $4,500 amid Commodity Meltdown

    Copper has been on a downtrend for nearly two months. The goodwill generated by supply cuts by major miners failed to last beyond a month, and copper again resumed its downtrend.

    By Mohit Oberoi, CFA
  • uploads///WFC
    Basic Materials

    Must-know: Why did Omega Advisors exit its Wells Fargo position?

    Omega Advisors Inc. is a New York–based investment advisory firm founded in 1991 by Leon G. Cooperman. Omega sold a 1.05% position in Wells Fargo.

    By Samantha Nielson
  • uploads///SPDR Barclays High Yield Bond ETF JNK
    Company & Industry Overviews

    China’s PMI and US Job Additions Push US Stocks Down

    US stocks didn’t have a great start last week. Reports emanating from China drove US markets down sharply, but they rebounded the next day when Microsoft (MSFT) helped them bounce back.

    By David Ashworth
  • uploads///goldman
    Company & Industry Overviews

    Must Know: Goldman Provided Fodder to Copper Bears

    Goldman Sachs (GS) now expects copper prices to fall to $4,000 per metric ton this year. In its previous guidance, Goldman had expected copper to fall to $4,500 per metric ton in 2016.

    By Mohit Oberoi, CFA
  • uploads///Base Metals
    Macroeconomic Analysis

    Why Did Base Metals Fall in the Second Week of March?

    LME nickel fell to lower price levels last week and stood as the biggest loser in base metals. It fell 5.5% and ended the week at $8,830 per metric ton.

    By Val Kensington
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    Company & Industry Overviews

    Base Metals Dive after Opening the Week on a Surge

    All base metals declined that day on the LME, and LME nickel was the biggest loser of the day in base metals with a decline of 2.8%.

    By Val Kensington
  • uploads///Copper
    Basic Materials

    Why Is Copper Trading High in the Early Hours on September 14?

    At 6:20 AM EST on September 14, the COMEX copper futures contract for December delivery was trading at $2.13 per pound—a gain of ~1.2%.

    By Val Kensington
  • uploads///base metals
    Company & Industry Overviews

    Base Metals Continue to Rise in the London Metal Exchange

    The base metals found some relief on January 13, 2016. They carried the same positive sentiment to January 14. All of the base metals rose in the LME.

    By Val Kensington
  • uploads///COPPER
    Basic Materials

    Copper Dove in July 22 Due to a Stronger Dollar

    At 1:15 PM EDT on July 22, major copper producers Freeport-McMoRan (FCX), Billiton (BHP), and Rio Tinto (RIO) fell by ~1.7%, ~1.7%, and ~1.19%, respectively.

    By Val Kensington
  • uploads///PART  COSTS
    Earnings Report

    Freeport-McMoRan Sees More Room to Cut Costs

    Freeport-McMoRan expects its copper unit cash costs after by-product credits to be $1.10 per pound in 2016, a year-over-year reduction of more than 28%.

    By Mohit Oberoi, CFA
  • uploads///key financials
    Company & Industry Overviews

    Southern Copper’s Financial Performance: Key Investor Takeaways

    Southern Copper’s financial performance has weakened over the last couple of years. Its falling revenues are largely attributable to copper price volatility.

    By Mohit Oberoi, CFA
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    Macroeconomic Analysis

    China’s April Trade Data: What It Means for Metal Investors

    China released its April trade data on May 8. The data weren’t received well by investors. Asian markets were trading lower in early trade.

    By Mohit Oberoi, CFA
  • freeport mcmoran fcx stock buy or sell
    Basic Materials

    Is Freeport-McMoRan, FCX, Stock a Buy or Sell?

    By Mohit Oberoi, CFA
  • uploads///part   profiles
    Miscellaneous

    What Does Freeport-McMoRan’s Rebound Mean for Investors?

    The upward momentum in Freeport could keep bears at bay for some time.

    By Mohit Oberoi, CFA
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    Basic Materials

    Why Copper Bears Shouldn’t Lose Heart

    While copper bears have been overshadowed by the bulls this month, they might like their chances in 4Q17.

    By Mohit Oberoi, CFA
  • uploads///part  cash raise
    Earnings Report

    Freeport-McMoRan Plans to Cut Its Debt by $10 Billion—But How?

    During the 4Q15 earnings conference call, Freeport-McMoRan’s CEO, Richard Adkerson, stated the company would “take immediate steps to reduce debt to enhance shareholder value.”

    By Mohit Oberoi, CFA
  • uploads///last
    Company & Industry Overviews

    Attention Freeport-McMoRan Investors: Here’s What to Watch in 2016

    There’s a long road ahead for Freeport-McMoRan’s asset sales program. The company is looking to raise between $5 billion and $10 billion in 2016.

    By Mohit Oberoi, CFA
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    Basic Materials

    Freeport-McMoRan’s Technical and Fundamental Indicators

    Freeport-McMoRan (FCX) closed at $10.54 on September 21. It rose almost 6% from its closing the previous day. The stock has gained 2.4% in September.

    By Mohit Oberoi, CFA
  • uploads///part  valuation
    Basic Materials

    How Freeport’s Valuation Looks Going into 3Q16

    Freeport’s asset sales program has restored investor confidence, helping it to trade at a higher valuation multiple.

    By Mohit Oberoi, CFA
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    Earnings Report

    What Analysts Expect from Century Aluminum’s 3Q15 Earnings

    According to data compiled by Bloomberg, Century Aluminum is expected to post revenues of $445.7 million in its 3Q15 earnings release. In 2Q15, it had net revenues of $523.5 million.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    Will Teck Resources Have a Merry Christmas in 2017 Also?

    Higher commodity prices and an improved risk-on sentiment were Teck Resources’ key drivers in 2016.

    By Mohit Oberoi, CFA
  • uploads///part  fcx
    Company & Industry Overviews

    Freeport-McMoRan Sees Analysts Cut Their Price Targets

    Of the 20 analysts surveyed by Bloomberg, only four rate Freeport-McMoRan’s (FCX) stock a “buy,” while two analysts rated it a “sell.” An overwhelming majority of analysts rate FCX as a “hold.”

    By Mohit Oberoi, CFA
  • uploads///part  fm
    Basic Materials

    Analysts See a 70% Upside in First Quantum Minerals

    First Quantum Minerals (FM) has received “strong buy” ratings from eight analysts, while nine have given it “buy” ratings or some equivalent.

    By Mohit Oberoi, CFA
  • uploads///part  rating
    Basic Materials

    Glencore or Freeport: Which Has More Upside Potential?

    Glencore (GLEN-L) has the highest percentage of “buy” or higher recommendations in our select group of mining stocks.

    By Mohit Oberoi, CFA
  • uploads///part  gold
    Basic Materials

    Why Freeport Needs a Friendly Fed Like Never Before

    Higher gold prices couldn’t have come at a better time for Freeport. The company is grappling with sagging metal prices in its core copper mining business.

    By Mohit Oberoi, CFA
  • uploads///metals and mining segment
    Company & Industry Overviews

    Understanding Glencore’s Metals and Mining Business

    Glencore’s metals and mining segment was the second-biggest contributor to its 1H15 revenues.

    By Mohit Oberoi, CFA
  • uploads///china PMI
    Earnings Report

    Global Turmoil Continues to Weigh on Freeport-McMoRan

    Metal shares bear the brunt whenever there’s a global turmoil in the markets. China’s slowdown could continue to weigh heavily on metal companies like Freeport.

    By Mohit Oberoi, CFA
  • uploads///part  ebitda
    Basic Materials

    How Impressive Is Freeport-McMoRan’s 4Q17 Performance?

    Freeport-McMoRan (FCX) reported an adjusted EBITDA of $2.1 billion in 4Q17. The company posted an adjusted EBITDA of $1.61 billion in 3Q17.

    By Mohit Oberoi, CFA
  • uploads///last
    Earnings Report

    Copper Executives Chime In on Copper Industry Outlook

    Though the long-term copper outlook seems much better compared to steel and iron ore, there seems to be more short-term pain as is apparent in the falling copper prices.

    By Mohit Oberoi, CFA
  • uploads///Debt
    Basic Materials

    What Rio Tinto’s Balance Sheet Means for Future Growth

    Rio Tinto’s (RIO) net debt at the end of 1H17 was $7.6 billion, compared with $12.9 billion at the end of 1H16 and $9.6 billion at the end of December 2016.

    By Anuradha Garg
  • uploads///UNIT PRODUCTION COSTS
    Earnings Report

    What to Expect from Freeport-McMoRan’s 3Q15 Earnings

    Looking at Freeport’s earnings sensitivity to WTI and copper prices, its 3Q15 earnings could take a hit compared to the previous quarter.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    Icahn Lift or Commodity Drag: What Could Drive Freeport-McMoRan?

    Freeport-McMoRan (FCX) jumped smartly in August after activist investor Carl Icahn disclosed his 8.5% stake in the company, known as the “Icahn lift.”

    By Mohit Oberoi, CFA
  • uploads///dices over newspaper profit
    Basic Materials

    US-China Trade War: Tariffs despite Continued Talks

    The US (SPY) and China (FXI) have imposed tariffs on $16 billion worth of goods. The tariffs were imposed despite talks in Washington, DC.

    By Mohit Oberoi, CFA
  • uploads///part  inventory
    Basic Materials

    Global Copper Inventory Stabilizes, Supports Prices

    Stable copper inventories seem to support copper prices. Copper’s upside might be capped due to global uncertainty and copper’s projected surplus.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    Will Freeport Follow Glencore and Restore Its Dividend?

    Freeport-McMoRan and Glencore suffered from the same issues last year. While Glencore restored its dividend, Freeport hasn’t restored its dividend yet.

    By Mohit Oberoi, CFA
  • uploads///part  surplus
    Basic Materials

    Is the Projected Surplus Weighing on Copper This Year?

    Copper’s apparent demand has been better-than-expected this year on the rise in Chinese construction activity coupled with an increase in the country’s bonded stocks.

    By Mohit Oberoi, CFA
  • uploads///Slight Fall in Business Confidence in Chile in
    Macroeconomic Analysis

    What Chile’s Mining Strike Means for a Highly Privatized Economy

    Chile had been known as the best-managed economy in Latin America—until recently.

    By Mary Sadler
  • uploads///part  scco
    Basic Materials

    How Are Analysts Rating Southern Copper This Month?

    According to consensus estimates compiled by Bloomberg, Southern Copper (SCCO) has a one-year price target of $27.82—7.5% above its current stock price.

    By Mohit Oberoi, CFA
  • uploads///Copper prod
    Earnings Report

    Rio Tinto Maintained Copper Production Guidance for 2015

    Rio Tinto (RIO) had combined its coal and copper divisions to form a single division earlier in the year. Together they contributed to 20% of RIO’s underlying EBITDA for 1H15.

    By Anuradha Garg
  • uploads///Balance sheet
    Earnings Report

    BHP’s Balance Sheet: The 2017 Outlook

    BHP’s net debt was $20.1 billion at the end of December 2016, as compared to $26.1 billion on June 30, 2016.

    By Anuradha Garg
  • uploads///part  grasberg
    Basic Materials

    Why October Could Be a Crucial Month for Freeport-McMoRan

    In the previous parts of this series, we looked at some of the macro developments that could impact Freeport-McMoRan (FCX) in October.

    By Mohit Oberoi, CFA
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    Miscellaneous

    Do Analysts See Value in Turquoise Hill Resources?

    According to Reuters, TRQ has a mean one-year price target of 5.68 Canadian dollars (~$4.28), which is a 24.3% upside over its closing price on January 20.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    Carl Icahn’s Big Plans for Freeport-McMoRan

    Announcing his 8.5% stake in Freeport-McMoRan, Carl Icahn said that he plans to discuss capital expenditures and more with Freeport management.

    By Mohit Oberoi, CFA
  • uploads///part  copper part
    Basic Materials

    Chinese Copper Imports Impact the Global Inventory

    Since China’s refined copper imports started to taper down starting in April, we saw big drawdowns in the SHFE copper inventory.

    By Mohit Oberoi, CFA
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    Earnings Report

    Key Takeaways from Freeport-McMoRan’s 3Q16 Earnings Call

    During its 3Q16 earnings call, Freeport-McMoRan (FCX) reduced its production guidance. The company expects its 2016 copper shipments to be 4.8 billion pounds.

    By Mohit Oberoi, CFA
  • uploads///part  copper
    Basic Materials

    Don’t Get Too Carried Away with Record Chinese Copper Imports

    China is the world’s biggest copper importer.

    By Mohit Oberoi, CFA
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    Macroeconomic Analysis

    Copper Industry Gets a Lift in 1H2015

    In this series, we’ll discuss recent copper industry indicators. We’ll see how copper prices have done in 2015. We’ll also discuss copper supply trends and demand.

    By Mohit Oberoi, CFA
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    Basic Materials

    Freeport-McMoRan’s 1Q18 Earnings: The Word on Wall Street

    Freeport-McMoRan, the leading US copper miner, is slated to release its 1Q18 earnings on April 24.

    By Mohit Oberoi, CFA
  • uploads///Progressive dividends
    Earnings Report

    Can BHP Maintain Its Dividends in 2016?

    BHP Billiton is facing pressure in all the commodity businesses it’s involved in. At spot prices, free cash flow doesn’t cover the company’s dividends.

    By Anuradha Garg
  • uploads///part  commodity prices
    Earnings Report

    How Commodity Prices Could Affect Freeport’s 3Q16 Earnings

    In 2Q16, Freeport reported average realized prices of $2.18 per pound for copper, $1,292 per ounce for gold, and $41.1 per barrel for oil.

    By Mohit Oberoi, CFA
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    Miscellaneous

    Inside BHP Billiton’s Recent Upgrades and Downgrades

    Of the 19 analysts covering BHP Billiton (BHP), four analysts issued “buy” recommendations, while 12 issued “holds,” and three issued “sells.”

    By Anuradha Garg
  • uploads///Copper
    Basic Materials

    Inside Rio Tinto’s Copper Outlook

    Rio reported a loss of $69 million in 1H17, compared with its loss of $56 million in 1H16.

    By Anuradha Garg
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    Basic Materials

    Appaloosa Management starts new positions in FCX, INGR, CYH, THC and sells MSFT, CMCSA—13F Flash E

    In this six-part series, we’ll go through some of the main positions Appaloosa Management traded this past quarter. Why sell Microsoft (MSFT)?

    By Samantha Nielson
  • uploads///part  glencore
    Miscellaneous

    How Do Analysts Rate Glencore after 2016 Earnings?

    Glencore has come a long way since September 2015 when the stock fell to multiyear lows.

    By Mohit Oberoi, CFA
  • uploads///part  copper
    Macroeconomic Analysis

    Do Lower Chinese Copper Imports Concern Freeport?

    In October, China imported 290,000 metric tons of unwrought copper and copper products—a yearly fall of more than 31%. Imports have fallen for seven months.

    By Mohit Oberoi, CFA
  • uploads///part  copper
    Basic Materials

    Can Chinese Copper Imports Help Lift Freeport-McMoRan Stock?

    In April, China imported ~1.6 million metric ton of copper ore and concentrates, which is 13.9% higher than in April 2017.

    By Mohit Oberoi, CFA
  • uploads///crude prices
    Company & Industry Overviews

    Freeport-McMoRan Looks to Control Costs amid Copper Price Slump

    Copper companies have been working to reduce their unit production costs to survive the current slump in copper prices.

    By Mohit Oberoi, CFA
  • uploads///part  debt
    Company & Industry Overviews

    Copper’s Spike Could Impact Freeport’s Debt Reduction Plan

    During its 4Q15 earnings conference call, Freeport mentioned a debt reduction program to raise $5 billion–$10 billion to shore up its balance sheet.

    By Mohit Oberoi, CFA
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    Basic Materials

    Freeport-McMoRan’s Debt Reduction Plan: Key Takeaways

    During its 4Q15 earnings conference call, Freeport-McMoRan (FCX) mentioned a debt reduction program to raise $5 billion–$10 billion to shore up its balance sheet.

    By Mohit Oberoi, CFA
  • uploads///part  grasberg
    Basic Materials

    After Dividend Reinstatement, What’s Freeport’s Next Priority?

    As we noted previously, Freeport-McMoRan (FCX) has reinstated its dividend, which was suspended in 2015. Glencore (GLEN-L) has already reinstated its dividends.

    By Mohit Oberoi, CFA
  • uploads///part  copper
    Basic Materials

    China’s June Copper Imports: Are Slowdown Talks a Sham?

    China isn’t self-sufficient when it comes to raw materials. When it comes to copper imports, it’s the largest importer of copper ores, anodes, and refined copper.

    By Mohit Oberoi, CFA
  • uploads///part  future asset sales
    Company & Industry Overviews

    What Would Future Asset Sales Mean for Freeport-McMoRan?

    Although additional asset sales would be positive for Freeport-McMoRan, we might not see a big pop in prices similar to the Morenci transaction.

    By Mohit Oberoi, CFA
  • uploads///China Economic Data
    Company & Industry Overviews

    Base Metals Hammered by Weak Chinese Data

    China is the top consumer of base metals, accounting for 45% of global demand, so economic releases from China have a large impact on base metal prices.

    By Val Kensington
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    Basic Materials

    Supply Uncertainty: Aluminum Takes the Baton from Copper

    In 2018, analysts expected disruptions in the copper supply. However, the copper supply has been resilient in 2018.

    By Mohit Oberoi, CFA
  • uploads///part  copper
    Basic Materials

    How’s Chinese Copper Demand Looking in 2018?

    So far, China’s copper imports look strong in the year. Meanwhile, copper’s 2018 bullish theme is built around supply-side disruptions.

    By Mohit Oberoi, CFA
  • uploads///part  copper
    Macroeconomic Analysis

    Sluggish Chinese Copper Imports Spell Trouble for Freeport

    China isn’t self-sufficient when it comes to its copper needs. While copper mining is concentrated in Latin America, more than half of the world’s copper is consumed in Asia.

    By Mohit Oberoi, CFA
  • uploads///last risks capex
    Company & Industry Overviews

    The Key Risks Facing Southern Copper

    The biggest risk facing the entire mining industry (XME) is the way Chinese demand will play out. Concerns over the Chinese slowdown could continue to weigh heavily on metal prices.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    Why Freeport Might Want to Resolve the Grasberg Issue

    Grasberg operations have put Freeport in a catch-22 situation. It can’t completely suspend its investments at Grasberg despite an uncertain future.

    By Mohit Oberoi, CFA
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    Earnings Report

    An Investor’s Guide to Freeport-McMoRan’s 2015 Outlook

    Freeport’s 2015 outlook includes copper sales up 7.5% and gold up 4% YoY. Molybdenum sales should remain flat this year, while energy sales should drop 8%.

    By Mohit Oberoi, CFA
  • uploads///Copper
    Basic Materials

    How Could Rio Tinto’s Copper Production Pan Out Going Forward?

    Copper volumes are key for companies that produce copper. In this part of the series, we’ll look at Rio Tinto’s (RIO) copper production profile.

    By Anuradha Garg
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    Company & Industry Overviews

    Why Freeport’s 2017 Guidance Could Be in Disarray

    Freeport’s 2017 guidance could be in disarray because of Grasberg issues. Freeport’s debt reduction plan would be impacted due to the Grasberg impasse.

    By Mohit Oberoi, CFA
  • uploads///part  fcx
    Basic Materials

    How Analysts View Freeport after Its 3Q17 Earnings Beat

    Freeport-McMoRan released its 3Q17 earnings on October 25, posting revenues of ~$4.3 billion in 3Q17, compared with ~$3.7 billion in 2Q17.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    What Does the Flattening Yield Curve Indicate for Investors?

    Bond markets are experiencing rising yields due to higher economic growth expectations. However, the 10-Year Treasury yield was still low at 2.4% on March 29, 2017

    By Mary Sadler
  • uploads///Copper
    Earnings Report

    What’s Driving BHP Billiton’s Copper Costs Now?

    Unit cash production costs are a key metric for investors in the metals and mining space.

    By Anuradha Garg
  • uploads///Base Metals Weekly
    Company & Industry Overviews

    Base Metals Fell Last Week: FCX, AA, GLNCY, BHP

    In the week ended on January 9, all base metals on the London Metal Exchange (LME) declined. The LME 3M Lead was the biggest loser of base metals last week with a loss of 9.6%.

    By Val Kensington
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    Company & Industry Overviews

    How Freeport’s profit margins compare to other copper producers

    Freeport has the lowest profit margins compared to other copper producers. This could be due to Freeport’s exposure to energy sales.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    How Much Are Supply-Side Factors Helping Copper Prices?

    Producers like Freeport-McMoRan and Glencore announced production cuts last year in response to falling metal prices. There were also unplanned outages.

    By Mohit Oberoi, CFA
  • uploads///part  ebitda
    Basic Materials

    Teck Resources’ 2Q17 Earnings: What’s the Word on Wall Street?

    Teck Resources (TECK), the Canada-based diversified miner (EWC), is scheduled to release its 2Q17 earnings on July 25.

    By Mohit Oberoi, CFA
  • uploads///us indicators
    Macroeconomic Analysis

    Strong US Copper Demand Indicators Bode Well for Freeport-McMoRan

    An uptick in construction activity would lead to higher copper demand. Construction spending has been strong in the US, breaching the $1 trillion annualized mark for three straight months.

    By Mohit Oberoi, CFA
  • uploads///Analyst reco
    Earnings Report

    BHP’s Fiscal 1H17 Results: What the Analysts Think

    Of the 21 analysts covering BHP, seven analysts have issued “buy” recommendations, while 11 have “hold” recommendations.

    By Anuradha Garg
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    Miscellaneous

    Will BHP Billiton’s Estimates Keep Rising in 2017?

    Analysts estimate BHP Billiton to deliver revenues of $37.9 billion for 2017—a fall of 1% YoY (year-over-year).

    By Anuradha Garg
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    Basic Materials

    How Analysts Rate Teck Resources ahead of 4Q17 Earnings

    Teck Resources has received a “strong buy” rating from five analysts, while 13 analysts have rated the stock a “buy” or some equivalent.

    By Mohit Oberoi, CFA
  • uploads///part  september
    Company & Industry Overviews

    Why September Popped for Freeport-McMoRan’s Investors

    On September 12, Freeport-McMoRan (FCX) announced the sale of its Deepwater Gulf of Mexico energy assets to Anadarko Petroleum (APC) for a cash consideration of $2 billion.

    By Mohit Oberoi, CFA
  • uploads///post split structure
    Company & Industry Overviews

    Will Elliott Management Start Taking an Active Interest in Alcoa?

    Elliott Management plans to engage in a “constructive dialogue” with Alcoa’s board about Alcoa’s split transaction and “additional available opportunities to maximize shareholder value.”

    By Mohit Oberoi, CFA
  • uploads///part  copper
    Basic Materials

    China’s July Copper Imports: What They Mean for Freeport-McMoRan

    In July, China imported 360,000 metric tons of unwrought copper and copper products. That was a YoY (year-over-year) increase of only 3.4%.

    By Mohit Oberoi, CFA
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