Post-Earnings Research - Freeport-McMoRan

LONDON, February 13, 2015 /PRNewswire/ --

Editor Note: For more information about this release, please scroll to bottom.

Investor-Edge.com has issued free post-earnings research on Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX). On January 27, 2015, the company reported its financial results for Q4 FY14 and full year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=Freeport-McMoRan&d=13-Feb-2015&s=FCX to read our free earnings review on Freeport-McMoRan Inc. (FCX). During Q4 FY14 and full year FY14, the company's revenues were $5.24 billion and $21.44 billion, respectively. FCX generated cash flow from operations of $1.12 billion in Q4 FY14 and $5.63 billion in FY14. James R. Moffett, Chairman of FCX; Richard C. Adkerson, Vice Chairman, President and CEO at FCX; and James C. Flores, Vice Chairman of FCX, and President and CEO of FCX Oil & Gas LLC, stated that during FY14, the organization achieved strong operating performance and project development milestones despite challenging commodity market conditions, which emerged late in the year. Our free coverage report can be accessed at:

http://get.Investor-Edge.com/pdf/?c=Freeport-McMoRan&d=13-Feb-2015&s=FCX

Earnings Overview 

During Q4 FY14, FCX's revenue fell by $0.65 billion from $5.89 billion in Q4 FY13. The company's Q4 FY14 revenues outperformed Bloomberg analysts' forecast of $4.90 billion. Furthermore, FCX's operating loss was $3.30 billion in Q4 FY14 compared to operating income of $1.65 billion in Q4 FY13. Free research on FCX can be downloaded in PDF format at:

http://get.Investor-Edge.com/pdf/?c=Freeport-McMoRan&d=13-Feb-2015&s=FCX

During Q4 FY14, FCX's net loss attributable to common stock stood at $2.9 billion, or $2.75 loss per diluted share, compared to net income attributable to common stock of $707 million, or $0.68 per diluted share, in Q4 FY13. Analysts from Bloomberg had expected net income attributable to common stock of $935 million, or $0.45 per diluted share, in Q4 FY14. Additionally, the company's adjusted net income attributable to common stock came in at $257 million, or $0.25 per share, in Q4 FY14.

In FY14, FCX's consolidated sales stood at 972 million pounds of copper at an average price of $2.95 per pound, 377 thousand ounces of gold at an average price of $1,193 per ounce, 12.1 million barrels of oil equivalents (MMBOE) at an average price of $78.02 per barrel, and 21 million pounds of molybdenum.

During FY14, FCX's revenues improved by $0.52 billion from $20.92 billion in FY13. The company's FY14 revenue outperformed Bloomberg analysts' forecast of $21.05 billion. Moreover, FCX's operating income declined to $97 million in FY14 from $5,351 million in FY13. Sign up and read the free analyst's notes on FCX at:

http://get.Investor-Edge.com/pdf/?c=Freeport-McMoRan&d=13-Feb-2015&s=FCX

For FY14, FCX's net loss attributable to common stock was $1.31 billion, or $1.26 loss per diluted share, compared to net income attributable to common stock of $2.66 billion, or $2.64 per diluted share, in FY13. Analysts from Bloomberg had expected net income attributable to common stock of $2.06 billion, or $2.04 per diluted share, in Q4 FY14. Moreover, the company's adjusted net income attributable to common stock came in at $2.0 billion, or $1.96 per share, in FY14.

On November 3, 2014, FCX completed an 80% stake sale in the Candelaria and Ojos del Salado copper mining operations for $1.8 billion in cash. As of December 31, 2014, the company had consolidated debt of $18.97 billion and consolidated cash of $464 million.

FCX's management stated that as the company enters 2015, they are implementing a series of initiatives to reduce capital and operating costs to maintain financial strength during a period of weaker commodity prices while preserving a strong resource position and a portfolio of assets with attractive long-term growth prospects. Management asserted that with the company's high quality portfolio of large scale assets, exposure to markets with favorable long-term fundamentals, and track record for effective management of its operations and balance sheet, they are confident in FCX's ability to generate value for shareholders. Visit Investor-Edge and access the latest research on FCX at:

http://get.Investor-Edge.com/pdf/?c=Freeport-McMoRan&d=13-Feb-2015&s=FCX

For Q1 FY15, FCX expects consolidated sales to be 950 million pounds of copper, 225 thousand ounces of gold, 23 million pounds of molybdenum and 13.1 MMBOE, while total consolidated sales for full year FY15 are expected to be approximately 4.3 billion pounds of copper, 1.3 million ounces of gold, 95 million pounds of molybdenum and 55.5 MMBOE.

Stock Performance 

On the day of the earnings release, January 27, 2015, FCX's stock plummeted 6.03% to end the session at $18.38. Since then, the stock has moved both ways with gains outperforming losses. On the last close, Thursday, February 12, 2015, the company's shares finished 4.68% higher at $19.47, after vacillating between $18.93 and $19.57. A total of 17.41 million shares were traded which was above its three months average volume of 18.60 million shares. Over the previous three trading sessions and over the last one month, the company's shares have lost 0.21% and 15.60%, respectively. Further, the stock has declined 31.83% in the past three months. Shares in FCX are trading below their 50-day and 200-day moving averages of $21.57 and $30.85, respectively. Furthermore, the stock has a Relative Strength Index (RSI) of 43.34.    

Sneak Peek to Corporate Insider Trading 

In the last one month, FCX has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on FCX is available at:

http://get.Investor-Edge.com/pdf/?c=Freeport-McMoRan&d=13-Feb-2015&s=FCX

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