By MarketNewsVideo As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let’s look at two noteworthy recent insider buys. …read more
Source: FULL ARTICLE at Forbes Markets
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Materials ETF (AMEX: VAW) where we have detected an approximate $34.7 million dollar outflow — that’s a 4.4% decrease week over week (from 9,150,671 to 8,750,671). Among the largest underlying components of VAW, in trading today Praxair, Inc. (NYSE: PX) is off about 0.1%, Freeport-McMoran Copper & Gold (NYSE: FCX) is down about 0.4%, and Ecolab, Inc. (NYSE: ECL) is lower by about 0.7%. For a complete list of holdings, visit the VAW Holdings page » …read more
Source: FULL ARTICLE at Forbes Markets
By MarketNewsVideo Freeport-Mcmoran Copper (FCX) maintained its quarterly dividend of 31.25 cents per share. The dividend is payable on May 1, 2013 to holders of record as of April 15, 2013 for its common stock. …read more
Source: FULL ARTICLE at Forbes Markets
By Taylor Muckerman and Joel South, The Motley Fool
Filed under: Investing
Big news about acquisitions drew the investing world’s attention to Freeport-McMoRan as the fourth quarter of last year came to a close. In one fell swoop, Freeport announced nearly $20 billion of activity when it decided to purchase natural gas and oil producers Plains Exploration & Production and McMoRan Exploration .
This added diversity is expected to supplement Freeport’s portfolio by the second quarter of this year. Changing from a company deriving 100% of its revenue from mining, it will now operate with a split between mining (74%) and its newly purchased oil and natural gas business (26%). For other reasons why Freeport is a top pick, tune into the video below with Motley Fool analysts Joel South and Taylor Muckerman.
After putting together a blockbuster deal to expand into the oil and natural gas industry, Freeport-McMoRan will have plenty on its plate as it tries to adapt to the new industry, as expanding into oil and gas carries plenty of inherent volatility. FCX has a profitable copper business, and on top of this foray into a new industry it still has to contend with mining industry bellwether BHP Billiton. To help investors determine if Freeport-McMoRan is a buy or a sell, The Motley Fool has compiled a premium research report on the company. Simply click here now to access your copy today.
var FoolAnalyticsData = FoolAnalyticsData || []; FoolAnalyticsData.push({ eventType: “TickerReportPitch”, contentByline: “Taylor Muckerman and Joel South“, contentId: “cms.27452”, contentTickers: “NYSE:FCX, NYSE:MMR, NYSE:PXP”, contentTitle: “Which Miner Has Attracted Hedge Fund Investors?”, …read more
Source: FULL ARTICLE at DailyFinance
By Business Wirevia The Motley Fool
Filed under: Investing
Freeport-McMoRan Copper & Gold Inc. Declares Quarterly Cash Dividend on Common Stock
PHOENIX–(BUSINESS WIRE)– Freeport-McMoRan Copper & Gold Inc. (NYS: FCX) today declared a cash dividend of $0.3125 per share payable on May 1, 2013 to holders of record as of April 15, 2013 for its common stock.
FCX 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 has a dynamic portfolio of operating, expansion and growth projects in the copper industry and is the world’s largest producer of molybdenum.
The company’s portfolio of assets includes the Grasberg minerals district, one of the world’s largest copper and gold mines in terms of recoverable reserves; significant mining operations in the Americas, including the large scale Morenci and Safford minerals districts in North America and the Cerro Verde and El Abra operations in South America; and the Tenke Fungurume minerals district in the Democratic Republic of Congo. Additional information about FCX is available on FCX‘s website at www.fcx.com.
Freeport-McMoRan Copper & Gold Inc.
Financial Contact:
David P. Joint, 504-582-4203
KEYWORDS: United States North America Arizona New York
INDUSTRY KEYWORDS:
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As gold continues to test the lower bounds of its 18-month support line above $1,500, the miners keep sliding down the shaft even faster. Copper king Freeport-McMoRan Copper & Gold (FCX) is hardly immune, just because it is the world’s lowest-cost producer. That’s because the industrial metal with a Ph.D. in economics isn’t exactly predicting gangbuster global growth with its consolidation around $3.50 per pound. Freeport-McMoRan is engaged in mineral exploration and development, mining and milling of copper, gold, and silver in Indonesia, North America, and the smelting and refining of copper concentrates in Spain and Indonesia. It is one of the world’s largest producers of gold and copper. The chart below shows a 3-year performance of FCX vs. a basket of its peers, the Market Vectors Gold Miners ETF (GDX). Worth noting is that FCX has been a Zacks #4 Rank (Sell) or #5 Rank (Strong Sell) since October of 2011. Hopefully this served as a warning sign to bottom-fishers in the miner. How to Boost Demand: Close Mines Fourth-quarter 2012 adjusted earnings matched the Zacks Consensus Estimate while profit rose year over year on higher production. Revenues climbed on higher copper and gold sales, but missed the Zacks Consensus Estimate. Freeport is conducting explorations close to its existing mines with a goal to boost reserves, which will facilitate the development of additional future production capacity across the large minerals districts where it operates. How to Remove Heavy Metals: Buy Oil In December 2012, FCX inked definitive merger pacts, under which, it will buy Plains Exploration & Production Company (PXP) and McMoRan Exploration (MMR) for roughly $9 billion. Freeport said that it will pay $6.9 billion in cash to acquire Texas-based independent oil and gas company, Plains and it will takeover Louisiana-based exploration and production company McMoRan for roughly $2.1 billion in cash (excluding 36% interest currently owned by Freeport and Plains). The total transaction value is roughly $20 billion taking into account the debt to be assumed by Freeport as part of the deal. This move into the energy space was not well-received by investors with the stock dropping hard from $38 to $31. And while it appears the stock finds some substantial buying interest in the $30-31 area–support in 2011 and 2012 corrections and bouncing from there in December and this month–the analysts are obviously still under-whelmed with the company’s prospects and new debt-heavy energy investments. Special Offer: This special report zeroes in on some huge money-making opportunities as well as some urgent sell alerts that could save you from devastating losses in the year ahead. Get nearly 100 buy and sell calls from almost four dozen of the world’s most successful investing experts all in one place in Forbes’ Best Ideas for 2013. While the move to diversify into energy seems smart on the surface–and clearly still commodity-focused–analysts are going to take their time digging for solid answers to what the company’s future earnings will look like. Estimates from the company itself are that the energy division could …read more
Source: FULL ARTICLE at Forbes Latest
By Jim Mueller and Austin Smith, The Motley Fool
Filed under: Investing
For all the risk in the mining business, there are good reasons to buy Freeport-McMoRan. In this video, the Fool’s Jim Mueller explains that Freeport pays a solid and growing dividend backed by strong cash flow. It operates the largest copper and gold mine in the world. And management’s experience has strengthened the company and should keep Freeport growing.
After putting together a blockbuster deal to expand into the oil and natural gas industry, Freeport-McMoRan will have plenty on its plate as it tries to adapt to the new industry, as expanding into oil and gas carries plenty of inherent volatility. FCX had a profitable copper business, and on top of this foray into a new industry it still has to contend with mining industry bellwether BHP Billiton. To help investors determine if Freeport-McMoRan is a buy or a sell, we’ve compiled a brand new premium report on the company! Click here now to gain instant access!
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Source: FULL ARTICLE at DailyFinance
By MarketNewsVideo Freeport-McMoRan (FCX) was upgraded to buy by Goldman Sachs (GS) with a price target of $42 as higher copper prices should add to earnings. …read more
Source: FULL ARTICLE at Forbes Markets
By Jim Mueller and Austin Smith, The Motley Fool
Filed under: Investing
Investing in a mining company carries risk. In this video, Jim Anderson explains three reasons for selling Freeport-McMoRan. Freeport operates a large copper and gold mine in Indonesia and, if government sentiment toward foreign ownership of natural resources changes, Freeport could be in trouble. The European economy could affect copper demand and, lastly, Freeport’s foray into the oil and gas business may not pan out.
After putting together a blockbuster deal to expand into the oil and natural gas industry, Freeport-McMoRan will have plenty on its plate as it tries to adapt to the new industry, because expanding into oil and gas carries plenty of inherent volatility. FCX had a profitable copper business, and on top of this foray into a new industry, it still has to contend with mining industry bellwether BHP Billiton. To help investors determine if Freeport-McMoRan is a buy or a sell, we’ve compiled a brand new premium report on the company! Click here now to gain instant access!
var FoolAnalyticsData = FoolAnalyticsData || []; FoolAnalyticsData.push({ eventType: “TickerReportPitch”, contentByline: “Jim Mueller and Austin Smith”, contentId: “cms.23901”, contentTickers: “NYSE:FCX“, contentTitle: “3 Reasons to Sell Freeport McMoRan Today”, hasVideo: “True”, pitchId: “123”, pitchTickers: “NYSE:FCX“, …read more
Source: FULL ARTICLE at DailyFinance
By Jens Meiners
It was 2002 when Daimler manager Hans-Joachim Schöpf said that from 2010 onward, the fuel-cell electric vehicle would be a viable alternative to conventionally powered cars. That date has long passed, and so have other targets announced by various automakers. It certainly needs to be taken with a grain of salt when Daimler, Renault-Nissan, and Ford now announce a plan to make fuel-cell vehicles for the mass market by 2017. But the target seems more realistic than ever, thanks to a new alliance entered by the four manufacturers to significantly cut cost and accelerate introductions to the market.
All three companies—or four, depending on how you count the Renault-Nissan alliance—bring considerable expertise to the table. Nissan’s competence in the area is undisputed; Daimler and Ford, on the other hand, probably can claim industry leadership with their Automotive Fuel Cell Cooperation (AFCC). The Burnaby, British Columbia–based technology house, which employs more than 200 people, will be a 50.1/49.9 percent joint venture between Daimler and Ford as of February 1, 2013, when Ford takes over the 19.9 percent share from fuel-cell pioneer Ballard Systems. The AFCC will remain an independent operation, but it will play a significant role in the joint project with Renault-Nissan.
As reality is setting in on the real-world capabilities and shortcomings of battery-electric vehicles—limited range, high weight, and charge times—the fuel-cell electric vehicle is beginning to look like a more viable alternative to conventionally powered cars. Their range is far superior to battery-electric vehicles, and they can be refueled within minutes. Cost has come down significantly and is expected to be further lowered.
So far, customer demand has been lacklustre at best. Honda has managed to unload just 72 units of its FCX fuel-cell car. European-market users of fuel-cell vehicles complain that the few filling stations are not consistently in service. But now activities are picking up. Toyota has said that a fuel-cell vehicle could come to market by 2015 at retail prices around €100,000 (roughly $135,000 at current exchange rates); a jointly developed mass-market car by Toyota and BMW is expected for 2020.
The new Daimler/Ford/Renault-Nissan alliance will move more quickly. The model announced for 2017 will be affordable to mass-market consumers and will likely make use of a common platform. Things are suddenly looking a lot brighter for a hydrogen-powered future.
Source: FULL ARTICLE at Car & Driver
Freeport McMoRan Copper & Gold Inc. (FCX) acquired a share in a cobalt refinery in the Democratic Republic of Congo as part of the company’s continued focus on cobalt production, chief executive Richard Adkerson said.
Source: FULL ARTICLE at Fox Business Headlines
Freeport McMoRan Copper & Gold Inc. (FCX) had unusually low copper production in 2012, said Chief Executive Richard Adkerson.
Source: FULL ARTICLE at Fox Business Headlines
Freeport-McMoRan Copper & Gold Inc.’s (FCX) fourth-quarter earnings rose 16% amid increased production as the mining company bounced back from prior-year labor disruptions at its Indonesia operations.
Source: FULL ARTICLE at Fox Business Headlines
By MarketNewsVideoCVS Caremark (CVS) had its numbers increased by Jefferies (JEF) as the firm believes that the company can grow margins, and continue share buybacks. A $58 price target was set with a buy rating.
Source: Forbes Markets
Freeport McMoRan Copper & Gold Inc.’s (FCX) acquisition of two energy companies wasn’t motivated by concerns about the future of Freeport’s Indonesian or African operations, Chief Executive Richard Adkerson said Wednesday.
Source: Fox Business Headlines
Freeport McMoRan Copper & Gold Inc.’s (FCX) planned acquisitions would catapult the mining company into the major league of natural-resource players, Chairman Jim-Bob Moffett said Wednesday.
Source: Fox Business Headlines
Freeport McMoRan Copper & Gold Inc.’s (FCX) planned acquisitions would catapult the mining company into the major league of natural-resource players, Chairman Jim-Bob Moffet said Wednesday.
Source: Fox Business Headlines
Freeport McMoRan Copper & Gold Inc.’s (FCX) acquisition of energy companies McMoRan Exploration Co. (MMR) and Plains Exploration & Production Co. (PXP) won’t be a diversion from the company’s copper business, Freeport’s chief executive said Wednesday.
Source: Fox Business Headlines
Not everyone welcomed Freeport McMoRan Copper & Gold Inc.’s (FCX) announced move into oil and gas Wednesday.
Source: Fox Business Headlines
