Why Investors Won't Want to Miss These 2 Impressive Numbers From Freeport-McMoRan Inc's 2Q Results
While copper and gold mining giant Freeport-McMoRan (NYSE: FCX) missed earnings estimates for the second quarter, the company's results were impressive enough to send its stock soaring. Fueling the bullish buying was a combination of making progress in resolving a dispute at its crown jewel Grasberg mine in Indonesia as well as impressive improvements in two crucial financial metrics. Here's a closer look at those numbers and what they might enable the company to do in the future.
One number that stood out in Freeport-McMoRan's first quarter report was operating cash flow, which hit $1 billion for the quarter. That's up from $800 million in the first quarter and puts the company on pace to generate $3.8 billion of cash flow for the full year, which would put it ahead of last year's $3.7 billion total.
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Source: Fool.com
Freeport-McMoRan Inc. Stock
Freeport-McMoRan Inc. is currently one of the favorites of our community with 20 Buy predictions and no Sell predictions.
As a result the target price of 52 € shows a slightly positive potential of 9.42% compared to the current price of 47.53 € for Freeport-McMoRan Inc..
