
- 4th quarter adjusted earnings per share (EPS) were 31 cents, exceeding expectations of 22 cents and topping last year’s 27 cents.
- Revenue for the same period was $5.72 billion, a 3.1% decline year-over-year, falling short of the $5.92 billion estimate.
- Copper production reached 1.04 billion pounds, a drop of 4.9% compared to the previous year.
- The net cash cost per pound of copper was $1.66, which was a 9.2% increase from last year but below the estimated $1.70.
- The average realized price per pound of copper was $4.15, marking an 8.9% increase year-over-year and slightly below the predicted $4.18.
- Gold production declined by 25% to 432,000 ounces, yet surpassed the estimate of 393,228 ounces.
- Gold sales volume fell by 36% to 350,000 ounces, compared to the estimated 343,105 ounces.
- The average realized price per ounce of gold was $2,628, a 29% increase from the previous year and in line with the $2,627 estimate.
- Molybdenum’s average realized price per pound was $22.23, a 7.6% increase year-over-year, exceeding the estimated $21.34.
- Capital expenditure was $1.24 billion, less than the $1.36 billion from last year, but exceeded the $1.05 billion estimate.
- $0.6 billion of the capital expenditure was dedicated to major mining projects, and $0.2 billion was allocated to PT Freeport Indonesiaβs new smelter and refinery.
- Stock analyst recommendations included 14 buys, 8 holds, and 1 sell.
Freeport Mcmoran on Smartkarma
Analyst coverage of Freeport Mcmoran on Smartkarma highlights positive sentiments from Baptista Research. In the report “Freeport-McMoRan Inc.: Expansion & Efficiency At Key Operations As A Crucial Growth Lever! – Major Drivers,” the company’s third-quarter 2024 results showcased strong performance in line with strategic plans. EBITDA reached $2.7 billion, with operating cash flows at $1.9 billion driven by robust sales volumes for copper and gold. Despite notable challenges, the company is seen as capitalizing on favorable market conditions.
Another report by Baptista Research, titled “Freeport-McMoRan Inc.: Innovative Smelter Operations in Indonesia & Other Major Drivers,” emphasizes Freeport-McMoRan’s strengths in the second quarter, highlighting a dominant position in the copper industry. With EBITDA of $2.7 billion and operating cash flow of $2 billion, the company benefits from strong global demand for copper, especially in sectors like electrification and renewable energies. The reports suggest a positive outlook for Freeport Mcmoran‘s operational and financial performance.
A look at Freeport Mcmoran Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 3 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Freeport-McMoRan Inc. is an international natural resources company with a solid outlook based on its Smartkarma Smart Scores. With consistent scores of 3 across Value, Dividend, Growth, Resilience, and Momentum factors, the company shows a balanced performance across key indicators. This indicates a stable long-term outlook for Freeport Mcmoran. Investors can take confidence in the company’s ability to maintain value, offer dividends, demonstrate growth potential, withstand market challenges, and show positive momentum.
Freeport-McMoRan Inc., a company with significant reserves of copper, gold, molybdenum, cobalt, oil, and gas, is positioned well for the future with its overall Smartkarma Smart Scores. The company’s balanced scores of 3 across various factors suggest a consistent and reliable performance in the long run. This implies that Freeport Mcmoran is poised to navigate through industry fluctuations and maintain a stable presence in the natural resources sector, offering investors a promising investment opportunity.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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