Freeport-McMoRan Inc. (NYSE: FCX) $Copper Freeport-McMoRan Inc. (NYSE: FCX) stands as a major force in the global copper industry, boasting a robust portfolio of assets and a commitment to excellence. With its headquarters in Phoenix, Arizona, FCX operates a diverse range of large-scale assets across North America, South America, and Indonesia, positioning itself as one of the world's largest publicly traded copper producers.
At the heart of FCX's operations lies its strategic focus on copper, gold, and molybdenum mining. The company's flagship assets include the Grasberg minerals district in Indonesia, renowned for its vast copper and gold deposits, and significant operations in North America and South America, such as the Morenci minerals district in Arizona and the Cerro Verde operation in Peru.
FCX has continued to demonstrate strong financial performance, reporting impressive earnings and revenue figures. Most recently, in January, FCX reported fourth-quarter earnings of $388 million, surpassing Wall Street expectations. This financial success is attributed to growing demand for copper and higher prices for gold, which have bolstered FCX's fortunes.
Looking ahead, FCX remains optimistic about its prospects, expecting to sell 4.1 billion pounds of copper, 2 million ounces of gold, and 85 million pounds of molybdenum in 2024.
Moreover, FCX is actively pursuing growth opportunities, with several expansion projects underway across the United States. For example, the company is expanding its Lone Star Mine in Safford, Arizona, aiming to increase copper production and extend the facility's operational life. Additionally, FCX is seeking permits for a pit addition at its copper mine in Tyrone, New Mexico, further demonstrating its commitment to long-term sustainability and growth.
In line with its dedication to shareholders, FCX recently announced cash dividends of $0.15 per share, reflecting its performance-based payout framework. This dividend declaration underscores FCX's commitment to delivering value to its shareholders while maintaining financial flexibility and prudent capital allocation.
ps.All copper junior stocks will follow FCX sooner or later. Early brid gets the worms. Below is daily chart and the15 year old chart from FCX. The real action will starts, when the price break out from the cup and handle in 15 year old FCX chart.
