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Freeport-McMoran stock price
Freeport-McMoran latest news:
Copper miner Freeport-McMoRan reinstates dividend on stronger outlook
Freeport-McMoRan Inc(FCX) reinstated its cash dividend on Tuesday, three years after suspending it, reflecting a stronger financial position, improved market conditions and a positive outlook for cash generation. Freeport, the world's biggest publicly listed copper producer, declared a quarterly dividend of 5 cents a share.
BRIEF-Freeport-McMoRan Reinstates Cash Dividend On Common Stock
* FREEPORT-MCMORAN REINSTATES CASH DIVIDEND ON COMMON STOCK
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Further company coverage:
Freeport-McMoRan shares jump 3% premarket after earnings beat
Freeport-McMoRan Inc. shares jumped 3% premarket Thursday, after the mining and metals company posted better-than-expected fourth-quarter earnings. Freeport said it had net income of $1.0 billion, or 71 cents a share, in the quarter, down from $1.8 billion, or $1.25 a share, in the year-earlier period. Adjusted for tax-related benefits and environmental charges, EPS came to 51 cents, ahead of the FactSet consensus of 48 cents. Revenue rose to $5.041 billion from $4.377 billion, also ahead of the FactSet consensus of $4.883 billion. Chief Executive Richard Adkerson said earnings were boosted by an improving copper market, which is expected to persist in 2018. Shares have gained about 19% in the last 12 months, while the S&P 500 has gained 23%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
S&P 500, Dow end at records ahead of Fed decision
The S&P 500 and Dow industrials advanced to end at records on Tuesday, as the Federal Reserve kicked off its two-day meeting. However, weakness in tech stocks weighed on the Nasdaq Composite. The central bank's Federal Open Market Committee is widely expected to announce its third and final interest-rate hike of 2017 on Wednesday. The S&P 500 closed at a record, rising 4.15 points, or 0.2%, to 2,664.14. The Dow Jones Industrial Average also ended at a fresh all-time high, after adding 118.57 points, or 0.5%, to 24,504.60. The Nasdaq Composite index slipped 12.76 points, or 0.2%, to 6,862.32 Among the biggest winners on Tuesday, Coty Inc and Freeport-McMoRan Inc jumped about 4% after upgrades from analysts. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Freeport Indonesia targets 1.1 mln T copper concentrate exports by end 2017
The Indonesian unit of U.S. miner Freeport-McMoRan Inc (FCX) is aiming to export 1.1 million tonnes of copper concentrate this year, a company official said in a hearing with parliament on Wednesday. The company had exported 684,333 tonnes of copper concentrate by end-October, according to government data.
Indonesia's Inalum given control of state miners ahead of larger Freeport stake
JAKARTA, Nov 28 (Reuters) - Indonesia has transferred
controlling stakes in three state-run mining companies and a
9.36 percent stake in the local unit of Freeport-McMoRan Inc
to a holding company under state-owned aluminium
producer PT Indonesia Asahan Aluminium (Inalum).
Indonesia has 'no clear structure' for Freeport stake purchase yet
Indonesia's State Owned Enterprise Ministry, tipped to oversee an acquisition of a majority stake in the local unit of Freeport-McMoRan Inc (FCX), has "no clear structure" yet for the deal, a ministry official said on Friday.
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