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Why is Freeport stock dropping?
The recent decline in the stock was driven by a drop in global copper prices last week. The copper price fell more than 2% on 1st September 2021 and was also down almost 2% in the last week (week ending 3rd September 2021) as data showed that factory activity slowed in August across major parts of Europe and Asia.
Freeport-McMoRan Inc.
| Volume | 19.46M |
|---|---|
| Shares Outstanding | 1.47B |
| EPS (TTM) | $1.92 |
| P/E Ratio (TTM) | 17.25 |
| Dividend Yield | 0.91% |
Did Freeport-McMoRan sell?
PHOENIX–(BUSINESS WIRE)–Freeport-McMoRan Inc. (NYSE: FCX) announced today that it has entered into a definitive agreement to sell a 13 percent ownership interest in its Morenci unincorporated joint venture to Sumitomo Metal Mining Co., Ltd. (SMM) for $1.0 billion in cash.
Is Freeport-McMoRan a publicly traded company?
About Freeport-McMoran, Inc. Freeport-McMoRan Inc mines more copper than any other publicly traded company in the world. Its assets include the Indonesian Grasberg mining complex, the world’s largest copper and gold mine in terms of recoverable reserves. Freeport also has significant mining operations in the Americas.
Is FCX a buy?
FCX is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock has a Forward P/E ratio of 9.08. This compares to its industry’s average Forward P/E of 11.54. FCX’s P/B has been as high as 3.34 and as low as 1.09, with a median of 2.26, over the past year.
What is the copper price today?
Copper Spot Price Chart. Live Price of Copper per Ounce. Markets Insider….Industrial Metals.
| Name | Copper |
|---|---|
| Price | 9,435.40 |
| % | 0.93 |
| Unit | USD per Ton |
| Date | 9/17/21 10:22 AM |
Is FCX a buy now?
FCX is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock has a Forward P/E ratio of 9.08. This compares to its industry’s average Forward P/E of 11.54. Within the past year, FCX’s PEG has been as high as 0.76 and as low as 0.32, with a median of 0.49.
Is Freeport-McMoRan a good buy?
Does Freeport-McMoRan pay a dividend?
Freeport-McMoRan Declares Quarterly Cash Dividend on Common Stock. PHOENIX–(BUSINESS WIRE)–Freeport-McMoRan Inc. (NYSE: FCX) announced today that its Board of Directors (“Board”) declared a cash dividend of $0.075 per share on FCX’s common stock payable on August 2, 2021, to stockholders of record as of July 15, 2021 …
Is Freeport-McMoRan a good stock to buy?
What does Freeport-McMoRan produce?
Freeport-McMoRan Inc. (FCX) is a mining company. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company’s segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other.
Is FCX overvalued?
PB vs Industry: FCX is overvalued based on its PB Ratio (3.7x) compared to the US Metals and Mining industry average (2.3x).