Freeport-McMoRan Stock Falls Wednesday, Underperforming Market
November 2, 2023
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FREEPORT-MCMORAN ($NYSE:FCX): On Wednesday, Freeport-McMoRan Inc.’s stock experienced a sharp decline, underperforming the general market. The company operates in the Americas, Africa, and Indonesia, and focuses on mining and exploration for copper, gold, molybdenum, cobalt, silver, oil, and gas. Recently, Freeport-McMoRan Inc. has been struggling financially due to reduced demand in the global market and falling metal prices. The company is also facing increasing competition from other mining firms, which has put pressure on its bottom line.
In addition, Freeport-McMoRan Inc. has not been able to maintain its operating costs, resulting in a decline in profits. As a result of all these factors, the company’s stock has been underperforming the general market.
Price History
On Wednesday, Freeport-McMoRan Inc. stock fell 0.2% from the prior closing price of $33.8 and opened at $33.9 before closing at $33.7. Analysts believe that this could be a sign of potential investor discontent with the company as it has not been able to keep up with the market gains and its peers. This could be an indicator that investors are cautious about investing in Freeport-McMoRan Inc. in the near future. It remains to be seen if the company can recover and turn in better performance in the coming days. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Freeport-mcmoran Inc. More…
| Total Revenues | Net Income | Net Margin |
| 21.89k | 2.11k | 9.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Freeport-mcmoran Inc. More…
| Operations | Investing | Financing |
| 4.55k | -4.28k | -3.08k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Freeport-mcmoran Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 50.91k | 24.88k | 11.3 |
Key Ratios Snapshot
Some of the financial key ratios for Freeport-mcmoran Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 19.2% | 199.9% | 26.5% |
| FCF Margin | ROE | ROA |
| 1.7% | 22.5% | 7.1% |
Analysis
GoodWhale has analyzed FREEPORT-MCMORAN INC‘s fundamentals to help investors make a more informed decision. Our Star Chart reveals that FREEPORT-MCMORAN INC is strong in dividend, medium in asset, profitability and weak in growth. Its health score of 8/10 reflects its financial capabilities, meaning it is capable to ride out any crisis without the risk of bankruptcy. Overall, FREEPORT-MCMORAN INC has been classified as a ‘rhino’ company, one which has achieved moderate revenue or earnings growth. Those looking for an investment option that has steady returns with minimal risk may be interested in FREEPORT-MCMORAN INC as a viable option. Its solid health score and dividend returns make it an attractive choice for those who are looking for a long-term investment with low volatility. Investors who are looking for higher growth opportunities with moderate risks may also find this company an interesting option. More…
Peers
Freeport-McMoRan Inc is one of the world’s leading producers of copper, gold, and molybdenum. The company has a strong competitive position in its industry, with a diversified portfolio of assets and operations in the Americas, including the United States, Chile, Peru, and Indonesia. Freeport-McMoRan’s competitors include First Quantum Minerals Ltd, MMG Ltd, and Southern Copper Corp.
– First Quantum Minerals Ltd ($TSX:FM)
First Quantum Minerals Ltd is a Canadian mining company with a focus on copper production. The company has a market cap of 16.58B as of 2022 and a return on equity of 17.53%. First Quantum Minerals is one of the world’s leading copper producers, with operations in Africa, Australia, and South America. The company has a strong commitment to sustainable development and aims to create long-term value for shareholders, employees, and the communities in which it operates.
– MMG Ltd ($SEHK:01208)
MMG Ltd is a mining company that operates in Australia, China, and Myanmar. The company has a market capitalization of 16.42 billion as of 2022 and a return on equity of 33.53%. MMG Ltd is engaged in the exploration, development, mining, and sale of zinc, copper, lead, silver, and gold deposits. The company’s operations are primarily located in Australia, China, and Myanmar.
– Southern Copper Corp ($NYSE:SCCO)
Southern Copper Corp is a leading copper producer with operations in Peru and Mexico. The company has a market cap of 36.36B as of 2022 and a Return on Equity of 42.22%. Southern Copper Corp is a leading copper producer with operations in Peru and Mexico. The company has a market cap of 36.36B as of 2022 and a Return on Equity of 42.22%. Southern Copper Corp is a leading copper producer with operations in Peru and Mexico. The company has a market cap of 36.36B as of 2022 and a Return on Equity of 42.22%.
Summary
Freeport-McMoRan Inc. (FREEPORT) stock price fell on Wednesday, underperforming the market. With the current market instability, investors should be cautious and consider the risks before investing in FREEPORT. The company has a history of high debt-to-equity ratio and earnings volatility.
Furthermore, its balance sheet is highly leveraged, and its production costs are relatively high compared to peers in the industry. Analysts have mixed opinions on the stock, with some seeing potential upside while others see further downside risks. In any case, investors must weigh the potential rewards of investing in FREEPORT against the risks of the current market environment.
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