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Author Topic: FCX - Freeport-McMoRan Copper & Gold, Inc. - NYSE  (Read 7799 times)
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Vegas
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« Reply #30 on: January 25, 2011, 09:40:37 AM »

I'm still kicking myself for getting out on this one... Undecided

Do you think the above news with make it move?

None of the gold stocks will move until this price correction is over and the price of gold starts to move up again... This is a very strong correction but it will also provide an excellent buying opportunity once we hit he bottom and gold starts it's reversal...
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♦♦♦ Give me control of a nations money supply, and I care not who makes it’s laws... Mater Amschel Rothschild ♦♦♦
delt01
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« Reply #31 on: January 25, 2011, 09:48:32 AM »

Unfortunately for me I've been traveling a lot and haven't had time to pay much attention.  You mentioned a "price correction", what price correction are you referring to?
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« Reply #32 on: January 25, 2011, 10:10:10 AM »

Price corrections happen in any type of market due to supply and demand activity... The price of gold has went sky high due to everyone jumping on the band wagon buying it... Prices of anything do not continue going up at this pace forever... Once a price gets so high, investors start selling off and taking profits... These sales continue pushing the price lower and lower until it reaches a plateau...

Once it reaches a low point where everyone stops selling, buyers will once again start taking advantage of the low prices and start buying again... This will start driving the prices back up just like the selling drove them down...

This happens in every market as we have recently witnessed in the housing market due to the inflated price bubble and economic factors... The job of a smart investor is to buy at the low or bottom price and hold a commodity until the price goes back up and then sell once again for a profit...

Just part of the economic cycles of supply and demand...
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♦♦♦ Give me control of a nations money supply, and I care not who makes it’s laws... Mater Amschel Rothschild ♦♦♦
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« Reply #33 on: January 25, 2011, 01:09:43 PM »

Sorry, I didn't ask the question properly.  I guess I didn't know that gold's rise is steadying (sp?). So the price correction you're speaking of in simple terms is: people starting buying it and the price rose so quickly that investors are now profit taking which is causing its meteoric rise to slow if not flatline.  Correct?
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« Reply #34 on: January 25, 2011, 01:58:33 PM »

Sorry, I didn't ask the question properly.  I guess I didn't know that gold's rise is steadying (sp?). So the price correction you're speaking of in simple terms is: people starting buying it and the price rose so quickly that investors are now profit taking which is causing its meteoric rise to slow if not flatline.  Correct?

Correct...
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♦♦♦ Give me control of a nations money supply, and I care not who makes it’s laws... Mater Amschel Rothschild ♦♦♦
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« Reply #35 on: March 30, 2013, 02:38:11 PM »


Freeport-McMoRan Copper & Gold Inc. Completes Acquisition of Kokkola Cobalt Refinery

March 29, 2013

Freeport-McMoRan Copper & Gold Inc. (FCX) announced today the completion of the previously announced transaction for FCX and its joint venture partners to acquire from OM Group, Inc., a large scale cobalt chemical refinery located in Kokkola, Finland, and related sales and marketing business. The joint venture will operate under the name Freeport Cobalt and FCX will be the operator with an effective 56 percent ownership interest, with the remaining effective ownership interests held by its partners in Tenke Fungurume Mining, including 24 percent by Lundin Mining Corporation and 20 percent by La Générale des Carrières et des Mines (Gécamines). The acquisition enhances FCX’s cobalt marketing position, product portfolio and product development capabilities and provides direct end-market access for the cobalt hydroxide production at Tenke.

Total consideration, including approximately $30 million of acquired cash, approximated $355 million and was funded 70% by FCX and 30% by Lundin Mining Corporation, which amounts will be repaid prior to any distributions. Under the terms of the agreement, OM Group is entitled to receive potential additional consideration of up to $110 million over a period of three years, contingent upon the achievement of revenue-based performance targets.

http://finance.yahoo.com/news/freeport-mcmoran-copper-gold-inc-180000047.html
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« Reply #36 on: January 22, 2014, 10:24:51 AM »


Freeport 4Q Earnings Dip; Metals Output Up But Prices Lower

January 22, 2014

Freeport-McMoRan Copper & Gold Inc. Wednesday said fourth-quarter net income fell year-on-year during a period in which output was higher and copper costs lower, but metals prices were also down. Freeport said fourth-quarter net income was $707 million, or 68 cents a share, compared to $743 million, or 78 cents, in the fourth quarter of 2012.

The fourth-quarter results included net charges of $166 million, or 16 cents per share, of which $73 million was for unrealized losses on oil and gas derivative contracts. For full year 2013, net income was $2.7 billion, or $2.64 a share, compared to $3 billion, or $3.19, in 2012.

Fourth-quarter sales included 1.14 billion pounds of copper, up from 972 million in the fourth quarter of 2012. Back in October, Freeport projected copper output of 1.1 billion pounds in the fourth quarter.

Fourth-quarter gold output was 512,000 ounces, more than double 254,000 in the year-ago period and also well above Freeport’s October estimate of 390,000 ounces. This was the result of higher ore grades and improved performance at the company’s Indonesian operations, Freeport said.

http://www.kitco.com/news/2014-01-22/Freeport-4Q-Earnings-Dip-Metals-Output-Up-But-Prices-Lower.html
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« Reply #37 on: September 30, 2015, 11:57:09 AM »


Freeport-McMoRan Declares Quarterly Cash Dividend on Common Stock

September 30, 2015

Freeport-McMoRan Inc. (NYSE: FCX) today declared a cash dividend of $0.05 per share payable on November 2, 2015 to holders of record as of October 15, 2015 for its common stock.

FCX is a premier U.S.-based natural resources company with an industry-leading global portfolio of mineral assets, significant oil and gas resources and a growing production profile. FCX is the world's largest publicly traded copper producer. FCX's portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world's largest copper and gold deposits; significant mining operations in the Americas, including the large-scale Morenci minerals district in North America and the Cerro Verde operation in South America; the Tenke Fungurume minerals district in the DRC; and significant U.S. oil and natural gas assets in the Deepwater GOM, onshore and offshore California and in the Haynesville natural gas shale, and a position in the Inboard Lower Tertiary/Cretaceous natural gas trend onshore in South Louisiana. Additional information about FCX is available on FCX's website at "fcx.com."

http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1100-nyse/fcx/12017-freeport-mcmoran-declares-quarterly-cash-dividend-on-common-stock-3.html#.VgwF316FPAU
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♦♦♦ Give me control of a nations money supply, and I care not who makes it’s laws... Mater Amschel Rothschild ♦♦♦
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« Reply #38 on: January 26, 2016, 10:32:10 AM »


Freeport-McMoRan Reports Fourth-Quarter And Year Ended December 31, 2015 Results

Freeport-McMoRan Inc. (NYSE: FCX) reported a net loss attributable to common stock of $4.1 billion ($3.47 per share) for fourth-quarter 2015 and $12.2 billion ($11.31 per share) for the year 2015, compared with a net loss of $2.9 billion ($2.75 per share) for fourth-quarter 2014 and $1.3 billion ($1.26 per share) for the year 2014. FCX’s net loss attributable to common stock included net charges totaling $4.1 billion ($3.45 per share) in fourth-quarter 2015, $12.1 billion ($11.23 per share) for the year 2015, $3.1 billion ($3.01 per share) in fourth-quarter 2014 and $3.35 billion ($3.23 per share) for the year 2014, primarily for the reduction of the carrying value of oil and gas properties and other items described in the supplemental schedule.

Richard C. Adkerson, President and Chief Executive Officer, said, "As we enter 2016, our clear and immediate objective is to restore FCX’s balance sheet and position the Company appropriately to enhance shareholder value in the current market environment. We are responding swiftly and decisively to achieve this objective. Our high-quality asset base provides opportunities for significant debt reduction while retaining a substantial business with attractive low-cost, long-lived reserves and resources that will enable our shareholders to benefit from improved conditions in the future. We achieved several important operational milestones during the fourth quarter while taking aggressive actions to adjust our plans in response to the decline in prices for our primary products.”

FCX announced today additional initiatives to accelerate its debt reduction plans. FCX will continue to focus on cost and capital management and cash flow generation from its operations under the current weak commodity price environment and is taking further immediate actions to accelerate its debt reduction plans and enhance shareholder value through pursuing asset sales and joint venture transactions. Several initiatives are currently being advanced, including an evaluation of alternatives for the oil and gas business (FM O&G) as well as several transactions involving certain of its mining assets. FCX expects to achieve progress on these initiatives during the first half of 2016.

http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1100-nyse/fcx/15933-freeport-mcmoran-reports-fourth-quarter-and-year-ended-december-31-2015-results.html#.VqeQqF72bAU
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♦♦♦ Give me control of a nations money supply, and I care not who makes it’s laws... Mater Amschel Rothschild ♦♦♦
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