Is FCX a good stock to buy?
Is FCX a good stock to buy?
FCX is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock has a Forward P/E ratio of 9.08. This compares to its industry’s average Forward P/E of 11.54. FCX’s P/B has been as high as 3.34 and as low as 1.09, with a median of 2.26, over the past year.
What kind of company is FCX?
international mining company
Freeport-McMoRan (FCX) is a leading international mining company with headquarters in Phoenix, Arizona. Our company was incorporated under the laws of the state of Delaware on November 10, 1987.
Is Freeport-McMoRan a US company?
Freeport-McMoRan Inc. Freeport-McMoRan Inc., often called Freeport, is an American mining company based in the Freeport-McMoRan Center, in Phoenix, Arizona.
Does FCX produce silver?
Through its subsidiary, PT-FI, FCX mines one of the world’s largest copper and gold deposits in the Grasberg minerals district in Papua, Indonesia. In addition to copper and gold, PT-FI produces silver.
Is FCX stock a buy or sell?
Out of 7 analysts, 1 (14.29%) are recommending FCX as a Strong Buy, 1 (14.29%) are recommending FCX as a Buy, 4 (57.14%) are recommending FCX as a Hold, 0 (0%) are recommending FCX as a Sell, and 1 (14.29%) are recommending FCX as a Strong Sell. What is FCX’s earnings growth forecast for 2021-2023?
Is FCX overvalued?
PB vs Industry: FCX is overvalued based on its PB Ratio (4.4x) compared to the US Metals and Mining industry average (2.3x).
Who owns Morenci?
Freeport-McMoRan
Freeport-McMoRan currently owns 85 percent of the unincorporated joint venture at Morenci, the largest copper mine in North America, against 12 percent owned by Sumitomo Metal Mining and 3 percent by Sumitomo Corp.
Who owns Grasberg?
PT Freeport Indonesia Government
Grasberg mine
| Location | |
|---|---|
| Production | 1,063,000,000 pounds copper 1,061,000 ounces gold (sales) 2,900,000 ounces silver |
| Financial year | 2016 |
| Owner | |
| Company | PT Freeport Indonesia Government of Indonesia (51.23%) Indonesia Asahan Aluminium (41.23%) PT Indonesia Papua Metal & Mineral (10%) Freeport-McMoRan (48.77%) |
What is the largest copper mine in the world?
Minera Escondida
Minera Escondida, located in Antofagasta, Chile, is the world’s largest copper mine, producing almost 5% of the world’s supply of the metal. BHP manages the operation and holds a roughly 58% stake. Other investors include Rio Tinto PLC and Japan’s Mitsubishi Corp.
Which is the largest mine in the world?
The mine is the largest man-made excavation, and deepest open-pit mine in the world, which is considered to have produced more copper than any other mine in history – more than 19 million tons….Bingham Canyon Mine.
| Location | |
|---|---|
| Type | Open-pit |
| History | |
| Discovered | 1848 |
| Opened | 1906 |
Why is Freeport dropping?
The decline in the stock was mainly due to weakness in commodity prices. Faster economic recovery expectations, lifting of lockdowns, and successful vaccine rollout has led to a drop in global gold prices.