Freeport-McMoRan Inc. (NYSE: FCX) announced today the completion of its at-the-market offering of common stock announced on August 10, 2015. FCX raised $1 billion in gross proceeds through the sale of 96.7 million shares of FCX common stock in open market transactions since August 10, 2015. The shares were issued pursuant to FCX’s shelf registration statement. FCX also announced today that it has filed with the [...]
After the close of the market on August 27, 2015, Carl Icahn filed a Schedule 13D regarding the acquisition of interests in Freeport-McMoRan Inc. (NYSE: FCX). FCX maintains an open dialogue with our shareholders and welcomes constructive input toward our common goal of enhancing shareholder value. Earlier today, FCX announced revised capital and operating plans in response to the recent decline in commodity prices [...]
Freeport-McMoRan Inc. (NYSE: FCX): 25% reduction ($700 million) in estimated 2016 Mining capital expenditures Projected consolidated 2016 capital expenditures for Mining and Oil & Gas estimated at $4.0 billion 29% reduction from July 2015 estimates. Reduction in copper sales of 150 million pounds per year in 2016e and 2017e 20% reduction in estimated 2016 unit site production and delivery costs compared with 2015e [...]
Freeport-McMoRan Inc. (NYSE: FCX) announced today that it has filed with the Securities and Exchange Commission a prospectus supplement under which it may offer and sell shares of common stock having aggregate gross proceeds of up to $1 billion from time to time through J.P. Morgan Securities LLC, as its sales agent. Sales of the common stock, if any, would be made by means of ordinary brokers’ transactions or block [...]
Freeport-McMoRan Inc. (NYSE: FCX) today provided an update on its progress in reducing costs and capital spending. In response to current oil and gas market conditions, Freeport-McMoRan Oil and Gas (FM O&G) is deferring investments in several long-term projects. In addition, FM O&G has revised its estimate of the start-up of initial production from its recent drilling success in the Horn Mountain area to 2016 from the [...]
Freeport-McMoRan Inc. (NYSE: FCX) today announced it has undertaken a comprehensive review of its operating plans in its mining and oil and gas businesses to target significant additional reductions in capital spending and operating and administrative costs in response to weak market conditions for its major products. These plans will also incorporate potential adjustments to mine plans and future copper and molybdenum [...]
Freeport-McMoRan Inc. (NYSE: FCX): Net loss attributable to common stock totaled $1.85 billion, $1.78 per share, for second-quarter 2015. After adjusting for net charges totaling $2.0 billion, $1.92 per share, second-quarter 2015 adjusted net income attributable to common stock totaled $143 million, $0.14 per share. Consolidated sales totaled 964 million pounds of copper, 352 thousand ounces of gold, 23 million pounds of [...]
Freeport-McMoRan Inc. (NYSE: FCX) today announced changes to its mining and oil and gas organizational structure to implement increased responsibilities for certain members of its senior management team. These changes reflect the professional growth and development of these senior managers and are designed to enhance the efficiency of the Freeport-McMoRan organization. FCX is pleased to report that Harry M [...]
Freeport-McMoRan Inc. (NYSE: FCX) today declared a cash dividend of $0.1605 per share payable on August 3, 2015 to holders of record as of July 15, 2015 for its common stock. The August 2015 common stock dividend consists of $0.05 per share for FCX’s regular quarterly dividend and $0.1105 per share as a special dividend related to the previously announced settlement of the stockholder derivative litigation approved [...]
Freeport-McMoRan Inc. (NYSE: FCX) today announced that its wholly-owned subsidiary, Freeport-McMoRan Oil & Gas Inc. (FM O&G), filed a registration statement on Form S-1 (the Registration Statement) with the U.S. Securities and Exchange Commission (SEC) related to its potential initial public offering (IPO) of Class A common stock representing a minority interest in FM O&G. FM O&G intends to apply to list the common stock [...]
LONDON, April 27, 2015 /PRNewswire/ -- Editor Note: For more information about this release, please scroll to bottom. Investor-Edge has initiated coverage on the following equities: Vale S.A. (NYSE: VALE), Freeport-McMoRan Inc. (NYSE: FCX), Steel Dynamics Inc. (NASDAQ: STLD), Century Aluminum Company (NASDAQ: CENX), and Southern Copper Corp. (NYSE: SCCO). Free research report on Vale S.A. can be accessed at [...]
Freeport-McMoRan Inc. (NYSE: FCX): Net loss attributable to common stock totaled $2.5 billion, $2.38 per share, for first-quarter 2015, compared with net income attributable to common stock of $510 million, $0.49 per share, for first-quarter 2014. After adjusting for net charges totaling $2.4 billion, $2.32 per share, primarily for the reduction of the carrying value of oil and gas properties and the related tax charge [...]
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