Freeport-Mcmoran Inc Stock Price, News & Analysis

Freeport-McMoRan Inc. (NYSE: FCX) has announced a new $3.0 billion share repurchase program and a variable cash dividend for 2022, expected at $0.30 per share. The combined dividend will total $0.60 per share annually, with an estimated $0.9 billion allocated for common stock dividends. This initiative aligns with FCX's performance-based payout framework, aiming to balance cash returns to shareholders while maintaining a strong balance sheet. The Board will review the payout structure annually, subject to market conditions.

Freeport-McMoRan (NYSE: FCX) has appointed Ryan M. Lance to its Board of Directors and the Corporate Responsibility Committee. Lance, currently the CEO of ConocoPhillips, brings 37 years of experience in the oil and gas industry. His expertise is expected to strengthen FCX's leadership, which now includes a total of ten board members, with nine being independent directors. Chairman Richard C. Adkerson welcomed Lance, highlighting the value of his global business insight for FCX's future.

Freeport-McMoRan Inc. (NYSE: FCX) has released its Q3 2021 financial results, available on its Investor Relations website. The company will host a conference call with analysts at 10:00 a.m. Eastern Time to discuss these results, which can also be accessed via webcast. FCX is a prominent international mining company, recognized for its significant copper, gold, and molybdenum reserves. Its major assets include the Grasberg minerals district in Indonesia and operations in North and South America, including Morenci in Arizona and Cerro Verde in Peru.

Freeport-McMoRan (NYSE: FCX) announced the redemption of all $524 million of its 3.55% Senior Notes due 2022 on December 1, 2021. The total redemption price will cover the principal amount and accrued interest. As of September 30, 2021, FCX had consolidated debt of $9.7 billion and cash equivalents of $7.7 billion, with annual interest costs for these notes approximating $19 million. This strategic move reflects FCX's ongoing efforts to manage its financial obligations efficiently.

Freeport-McMoRan Inc. (NYSE: FCX) released its updated Climate Report, outlining measures to reduce greenhouse gas emissions, enhance energy efficiency, and improve resilience to climate risks. The report aligns with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. FCX aims for a 15% emissions reduction in the Americas and a 30% reduction in Indonesia by 2030. The company emphasizes collaboration and innovation in achieving net-zero emissions by 2050, reflecting its commitment to sustainable mining practices.

Freeport-McMoRan Inc. (NYSE: FCX) has declared a cash dividend of $0.075 per share, payable on November 1, 2021, to stockholders of record as of October 15, 2021. This aligns with its financial policy established on February 2, 2021, which aims to enhance shareholder returns while maintaining a strong balance sheet. The company has achieved a net debt target between $3-$4 billion as of Q2 2021, suggesting potential for further cash returns following its 2021 annual results.

Freeport-McMoRan announced the appointment of Marcela E. Donadio and Sara Grootwassink Lewis to its Board of Directors. Donadio, former partner at Ernst & Young, brings extensive experience in the oil and gas sector and currently serves as Lead Independent Director at Marathon Oil. Lewis, founder of Lewis Corporate Advisors, has significant financial expertise and chairs audit committees for multiple firms. The board now consists of nine members, with eight being independent directors, aiming to enhance corporate governance and fulfill stakeholder responsibilities.

Freeport-McMoRan (NYSE: FCX) released its second-quarter 2021 financial results and will hold a conference call to discuss quarterly performance at 10:00 a.m. ET today. The company is recognized as a leading international mining firm, with substantial reserves of copper, gold, and molybdenum. Notably, it operates major mining assets, including the Grasberg district in Indonesia and mining operations across North and South America. Further details and the full release can be accessed through the Investor Relations page on FCX's website.

Freeport-McMoRan (NYSE: FCX) declared a cash dividend of $0.075 per share on common stock, payable on August 2, 2021, to stockholders of record as of July 15, 2021. This announcement aligns with FCX's financial policy aimed at maintaining a strong balance sheet and increasing cash returns to shareholders. The policy sets a base dividend of $0.30 per share annually and outlines a performance-based payout framework, contingent upon achieving a net debt target between $3-$4 billion.