|Bid||870.80 x 0|
|Ask||871.60 x 0|
|Day's range||848.20 - 877.20|
|52-week range||713.20 - 1,026.00|
|Beta (3Y monthly)||1.26|
|PE ratio (TTM)||13.12|
|Earnings date||22 Aug 2019|
|Forward dividend & yield||0.37 (4.24%)|
|1y target est||11.28|
The FTSE 100 company reduced its annual forecast for net cash cost, a measure of cost of production per pound of copper produced, to $1.25 per pound as it expects to benefit from a weaker Chilean peso and higher by-product prices. Antofagasta, which is majority-owned by Chile's Luksic family, primarily mines copper with by-products of gold, molybdenum and silver. The company said copper production for the quarter was 198,600 tonnes compared with 163,200 tonnes, a year earlier and maintained its full-year copper production forecast of 750-790,000 tonnes.
Gains in mining company shares due to a rise in China's iron ore prices pushed London's main stock market index higher on Tuesday, while those in construction firm Galliford jumped after it rejected an offer for two housing businesses. The FTSE 100 rose 0.3% while the mid-cap FTSE 250 inched up 0.1% by 0707 GMT. China's iron ore prices have hit record highs this week amid rising concerns of over supply due to shrinking stocks and worries about another Brazil mine dam at risk of collapsing.
The U.S. Interior Department on Wednesday renewed two long-mothballed leases near the Boundary Waters Wilderness area in Minnesota, a key step in opening up the popular wilderness and recreation area to copper mining despite heavy opposition from local and national conservation groups. The department's Bureau of Land Management granted the hardrock mineral leases inside the Superior National Forest to Twin Metals Minnesota LLC, a subsidiary of Chile's Antofagasta, with the aim of expanding domestic mining of "critical minerals" used in common appliances and products, saying it is beneficial to national security because it reduces foreign imports.
Freeport-McMoRan: Bulls Short of Ideas amid Macro UncertaintyFreeport-McMoRan Leading US-based copper miner Freeport-McMoRan (FCX) has been trading largely sideways this month, which is not surprising, considering copper price trends. Although copper
Financial stocks and housebuilders slipped after British Prime Minister Theresa May asked the European Union to delay Brexit and caused the FTSE 100 to snap a seven-day winning streak, while a slide in sterling pulled the mid-cap index lower.
A weaker pound amid growing Brexit concerns offset a selloff in blue-chip miners and lifted the exporter-heavy FTSE 100 on Wednesday, while satellite operator Inmarsat surged on a $3.3 billion takeover approach. The FTSE 100 shrugged off initial losses to edge 0.1 percent higher, up for an eighth straight session, and the FTSE 250 was roughly flat by 0948 GMT. Mining stocks slipped nearly 2.5 percent as iron ore prices plunged in anticipation of increased supply after Vale SA was set to restart work at its largest iron ore mine.
Britain's FTSE 100 extended its winning streak to seven sessions on Tuesday as miners and oil majors boosted the index and Ocado climbed to an all-time high after posting higher first-quarter retail sales. The FTSE 100 was up 0.3 percent.
Pakistan's military is taking a key role in the development of one of the world's biggest untapped copper and gold deposits, which is currently stalled by a multi-billion dollar legal wrangle with foreign mining firms, multiple sources familiar with the situation said. The Reko Diq mine has become a test case for Prime Minister Imran Khan's ability to attract serious foreign investment to Pakistan as it struggles to stave off an economic crisis that has forced it to seek an International Monetary Fund bailout. Ten current and former provincial and federal government officials and mining sources familiar with the project in the Baluchistan region say the military has become the most important voice on the future of Reko Diq, which it sees as a strategic national asset.
Freeport-McMoRan: Party Continues as Chinese Copper Imports SurgeChinese copper imports Freeport-McMoRan (FCX) surged 6.9% yesterday, boosted by an upgrade from Morgan Stanley to “overweight.” The financial services company lowered its price
Does Freeport-McMoRan Stock Look Attractive after the Sell-Off?(Continued from Prior Part)What to expect this yearAs we noted in the previous article, Freeport-McMoRan (FCX) witnessed a selling spree after its fourth-quarter earnings release. Its
British share indexes posted their first weekly losses of 2019 with the main bourse closing in the red for a fourth straight day, as Vodafone tumbled and a stronger pound weighed on exporter stocks. FTSE 100 gave up session gains to close 0.1 percent lower, while the FTSE 250, which tends to gain from a stronger pound, rose 0.1 percent. Sterling rallied to an 11-week high on growing optimism that Britain will avoid a no-deal Brexit after a newspaper report that Northern Ireland's Democratic Unionist Party has privately decided to back May's Brexit deal next week if it includes a time limit to the Irish backstop.
London's blue-chip stocks were higher on Friday, snapping three sessions of losses, fueled by a rally in mining, oil and banking stocks, while heavyweight Vodafone fell again and M&A news triggered a stout rally in pub chain Fuller, Smith & Turner. FTSE 100 was 0.4 percent higher by 0826 GMT, underperforming its European peers as heavyweight Vodafone dragged and the rally in sterling weighed on the exporter-heavy index.
Freeport-McMoRan’s Q4 Earnings: The Word on Wall Street(Continued from Prior Part)Freeport’s earnings call Freeport-McMoRan (FCX) is scheduled to hold its fourth-quarter earnings call on January 24. In this article, we’ll look at what
A magnitude 6.7 earthquake hit the coast of north-central Chile on Saturday evening, the U.S. Geological Survey said, and witnesses said it rattled buildings farther south in the capital city of Santiago but left only minor damage in its wake. The quake struck at 10:32 p.m. local time (0132 GMT) about 15.6 km (9.7 miles) south-southwest of Coquimbo, the USGS said. The Pacific Tsunami Warning Center, however, quickly discarded a tsunami threat following the tremor.
A magnitude 6.7 earthquake hit the coast of north-central Chile on Saturday evening, the U.S. Geological Survey said, with authorities reporting as many as 200,000 without power and two people dead of heart attacks. The quake struck at 10:32 p.m. about 16 km (10 miles) south-southwest of Coquimbo, the USGS said. The quake, measured 53 km (33 miles) below the surface, shook homes, caused landslides in the region's mountainous terrain and initially prompted authorities to begin a mass evacuation of coastal areas ahead of a potential tsunami.
Is Freeport-McMoRan Worth a Look Now? Copper prices are seen as an indicator of global economic activity. While copper fell below the psychologically crucial $6,000 per metric level a few times in 2018, it managed to hold that level in the recent market crash.
Investing.com - The European basic resource sector soared in midday trade on Monday, as a trade ceasefire between the U.S. and China sparked demand for growth-linked assets.
(Correcting Xi Jinping's title to president, not premier in 3rd para) LONDON, Dec 3 (Reuters) - Miners, autos, tech, and oil stocks all surged on Monday, driving Europe's main benchmarks up strongly after ...
Previously, we discussed copper miners’ production profiles and 2018 guidance. In this part, we’ll look at leading copper producers’ unit cash costs and see what’s impacted their unit cost progression.
In this part, we’ll discuss leading copper miners’ third-quarter production data. By looking at top copper miners’ production profiles, we can get crucial insight into the global copper supply.
Freeport-McMoRan (FCX), the leading US-based copper miner, has lost 42.7% YTD (year-to-date) based on the closing prices on November 23. Other copper miners like Southern Copper (SCCO) and Antofagasta (ANTO) have also fallen in 2018. Vale (VALE) is in the green in 2018. Iron ore prices have been relatively strong despite the rout in other metals (XME).
First Quantum Minerals (FM) has received “strong buy” ratings from eight analysts, while nine have given it “buy” ratings or some equivalent. The remaining five analysts polled by Thomson Reuters on November 22 have rated the stock as a “hold.”
Leading mining and trading giant (EWU) Glencore (GLEN-L) has received “strong buy” ratings from eight analysts, while 12 have given its stock “buy” ratings.
Antofagasta (ANTO) has received “strong buy” ratings from seven analysts, while five have given it “buy” ratings or some equivalent. Six analysts have given Antofagasta “hold” ratings, while the remaining three analysts polled by Thomson Reuters on November 22 have rated it as a “sell” or lower.