ADVFN - Advanced Financial Network.
HOME» NYSE » F » FCX Stock Price » FCX Stock News

Freeport Mcmoran Share News

 Freeport-mcmoran Copper & Gold Inc. Stock Price
FCX Stock Price
 Freeport-mcmoran Copper & Gold Inc. Stock Chart
FCX Stock Chart
 Freeport-mcmoran Copper & Gold Inc. Stock News
FCX Stock News
 Freeport-mcmoran Copper & Gold Inc. Company Information
FCX Company Information
 Freeport-mcmoran Copper & Gold Inc. Stock Trades
FCX Stock Trades

Peru Mining Companies Seen Posting Lower 2nd-Quarter Earnings

LIMA, Peru--The second-quarter financial results of mining companies in Peru are expected to come in lower than the year-ago period due to lower base-metal prices, higher costs and strikes at some operations, brokerage Inteligo SAB said. Southern Copper Corp. (SCCO, SCCO.VL), one of the world's biggest producers of copper, is expected to post net earnings of $591.3 million in the second quarter, which would be a decrease of 10.1% compared with same period last year, Inteligo said in a report sent by email Friday. Southern Copper's results are expected to be hurt by lower copper prices, though an increase in output at its units in Peru and Mexico should offset that somewhat, Inteligo said. Southern Copper operates mines, smelting and refining facilities in Mexico and Peru. Grupo Mexico (GMEXICO.MX) has a controlling stake in Southern Copper. Sociedad Minera Cerro Verde SAA (CVERDEC1.VL), another major copper producer in Peru, is expected to report a 21.5% decline in net earnings to $269.3 million due to lower copper prices and production, Inteligo said. Cerro Verde is 53.56%-owned by Freeport-McMoRan Copper & Gold Inc. (FCX). Freeport has already released its results, reporting that Cerro Verde produced 151 million pounds of copper in the second quarter, down from 170 million pounds in the year-ago period. Compania de Minas Buenaventura SAA (BVN, BUENAVC1.VL), Peru's largest publicly traded precious-metals miner, is expected to report net earnings of $190.4 million, which would be a 6.7% decrease from the year-ago period, Inteligo said. "Buenaventura's net earnings will drop as the mild increase in revenues will be offset by lower margins," Inteligo said. It added that a strike at Buenaventura's Orcopampa gold mine last quarter isn't expected to have a significant impact on production. Buenaventura said it will release its results July 31 after the market closes. Volcan Compania Minera SA's (VOLCABC1.VL) net profit is forecast to decline 57.2% in the second quarter to $43.2 million, Inteligo said. "Volcan's net earnings will suffer from the strike at its Cerro de Pasco unit, lower base-metal and silver prices and higher personnel expenses," Inteligo said. Peru is the world's second-biggest producer of copper and silver. It also is a major producer of gold, lead and zinc. Write to Ryan Dube at Subscribe to WSJ:

Stock News for Freeport Mcmoran (FCX)
10/14/201609:40:00Freeport-McMoRan Sells California Onshore Business
10/14/201609:32:00Freeport-McMoRan Sells California Onshore Business
10/14/201608:06:14Current Report Filing (8-k)
10/14/201608:00:00Freeport-McMoRan Announces Agreement to Sell Onshore California...
10/11/201612:14:19Statement of Ownership (sc 13g)
10/05/201613:20:00BHP to Expand Oil, Gas Efforts
10/04/201617:23:09Statement of Changes in Beneficial Ownership (4)
10/04/201617:23:09Statement of Changes in Beneficial Ownership (4)
10/04/201617:22:42Statement of Changes in Beneficial Ownership (4)
09/29/201608:43:34Current Report Filing (8-k)
09/28/201619:52:00Freeport-McMoRan Announces Expiration of Consent Solicitations
09/23/201616:48:32Current Report Filing (8-k)
09/23/201616:42:00Freeport-McMoRan Announces Extension of Consent Solicitations
09/13/201617:14:28Amended Statement of Beneficial Ownership (sc 13d/a)
09/13/201603:03:00Anadarko Buys Assets for $2 Billion -- WSJ
09/12/201618:50:00Freeport-McMoRan to Sell Deepwater Gulf Assets to Anadarko...
09/12/201618:01:00Freeport-McMoRan to Sell Deepwater Gulf Assets to Anadarko...
09/12/201617:30:00Freeport-McMoRan to Sell Deepwater Gulf Assets to Anadarko
09/12/201617:17:00Freeport-McMoRan to Sell Deepwater Gulf Assets to Anadarko for...
09/12/201616:33:38Current Report Filing (8-k)

Freeport Mcmoran and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations