Freeport McMoRan (FCX) - Buy, Hold or Sell? Chart, News, Strategies, Discussions, and More
Freeport McMoRan Cooper & Gold Inc. is a mining company with operations all over the world. Investors' related information for FCX can be found here.
About Freeport McMoRan (FCX)
Freeport McMoRan Copper & Gold (FCX) is a leading international copper, gold and molybdenum mining company with headquarters in Phoenix, Arizona. FCX has a dynamic portfolio of operating, expansion and growth projects in the copper industry and is the world's largest producer of molybdenum. Its portfolio of assets includes the Grasberg minerals district in Indonesia, which contains the single recoverable copper reserve and the single gold reserve; mining operations in North and South America, and the Tenke Fungurume minerals district in the Democratic Republic of Congo. FCX also operates Atlantic Copper, its wholly owned copper smelting and refining unit in Spain. As of December 31, 2009, consolidated recoverable proven and probable reserves totaled 104.2 billion pounds of copper, 37.2 million ounces of gold, 2.59 billion pounds of molybdenum, 270.4 million ounces of silver and 0.78 billion pounds of cobalt. Approximately 33% of its copper reserves were in Indonesia, approximately 33% were in South America, approximately 26% were in North America and approximately 8% were in Africa. As an industry leader, FCX demonstrates proven expertise in both technology and production methods, which consist of open-pit mining, SX/EW production technology, block cave underground mining, and copper concentrate leaching.
According to the latest available data per 2/8/2011 the company has 30,000 employees and market capitalization of 52.37 billion U.S. dollars. It quarterly revenues growth was 21.5% year on year, resulting in the 18.98 billion U.S. dollars of revenue for the last trailing twelve months. Gross operating margin was 55.99% and net operating margin was 47.77%, both data for trailing 12 months. Company's net income in the last four quarters was 4.27 billion, giving us earnings per share (EPS) of 4.57. Current price earnings ratio (P/E) is 12.15, price earnings growth ratio (PEG) is 1.41 and price sales ratio is 2.76, all figures for trailing twelve months. FCX major competitors are Newmont Mining (NEM), Southern Copper (SCCO) and a privately held company Corporacion Nacional del Cobre de Chile. For fresh fundamental data about Freeport McMoRan and its major competitors please visit the Yahoo Finance website.
Last Trading Idea Provided by MPtrader
Shanghai Composite Pressing Against Key Support
Mon, 03 Oct 2011
Many of the traders and portfolio managers that I speak to are looking at the beleaguered commodity and industrial materials sectors as ripe for reentry on the long side. They're watching companies like Freeport-McMoRan Copper & Gold (FCX), U.S. Steel (X), Alcoa (AA), Walter Energy (WLT), Mosaic (MOS), Deere (DE), and Caterpillar (CAT), for example. However, my enclosed monthly chart of the China Shanghai Composite gives me pause about such a committment right at this time. When the Shanghai Comp. begins trading for the month of (Oct.) tomorrow, let's notice that it will be pressing against key July 2011 support at 2,320. That level must contain any forthcoming weakness to avert additional weakness that likely will confront much more important support along the up trendline from June 2005, now at 2,250. The juxtaposition of my sharply declining 7-month EMA against the falling price structure argues strongly that the China equity market could be entering a downside acceleration period that violates significant near- and intermediate-term support en route to a full-fledged test of its October 2008 pivot low at 1,665. Such a decline will have very negative implications for China demand for commodities and industrial manufactured goods worldwide. The action of the Shanghai Composite during the next several days (weeks) arguably will be the most important gauge of the "health" of the global economy (while most everyone remains fixated on headline risk emanating from Greece, Europe, and the Fed).
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Written by: Goran Dolenc