Freeport-McMoRan Inc
FCX
Market Cap$60.45B
Close$
Earnings Call Q3 2024
October 22, 2024 - AI Summary
**Strong Financial Performance:** Freeport-McMoRan reported solid third quarter results with $2.7 billion in EBITDA and $1.9 billion in operating cash flows. Sales volumes for both copper and gold exceeded guidance, reflecting effective operational management and cost efficiency efforts.
**Copper Market Outlook:** The company highlighted favorable long-term fundamentals for copper demand, driven by electrification and infrastructure investments. Despite cyclical slowdowns and economic pressures in places like China, demand remains robust with forecasts indicating a tightly balanced market transitioning to deficit conditions in the longer term.
**Investment in Cerro Verde:** Freeport increased its ownership stake in Cerro Verde from 53.6% to 55% by purchasing 5.3 million shares for $210 million. This acquisition reflects the company’s strategy to bolster its position in high-quality assets.
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$15.78
62.5% downside
Current Fair Value
62.5% downsideOvervalued by 62.5% based on the discounted cash flow analysis.
Share Statistics
| Market cap | $60.45 Billion |
|---|---|
| Enterprise Value | $61.31 Billion |
| Dividend Yield | $0.6 (1.42619443784169%) |
| Earnings per Share | $1.29 |
| Beta | 1.91 |
| Outstanding Shares | 1,445,000,000 |
Return
| Return on Equity | - |
|---|---|
| Return on Assets | - |
| Return on Invested Capital | - |
Valuation & Multiples
| P/E Ratio | 30.35 |
|---|---|
| PEG | 191.37 |
| Price to Sales | 2.47 |
| Price to Book Ratio | 2.21 |
| Enterprise Value to Revenue | 2.41 |
| Enterprise Value to EBIT | 8.47 |
| Enterprise Value to Net Income | 30 |
| Total Debt to Enterprise | 0.1 |
| Debt to Equity | 0.33 |
Revenue Sources
No data
Insider Trades
ESG Score
No data
About Freeport-McMoRan Inc
12,800 employeesFCX is a leading international mining company with headquarters in Phoenix, Arizona. FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is one o...