Toronto, Ontario–(Newsfile Corp. – July 24, 2025) – Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) ("Minnova" or the "Company"), announces that, further to its press releases of April 29, 2024 and December 19, 2024, it has settled an aggregate of $800,000 of indebtedness owed to certain creditors of the Company through the issuance of an aggregate of 15,999,999 common shares in the capital of the Company (the "Common Shares") at a price of $0.05 per Common Share (the "Debt Settlement").
All securities issued in connection with the Debt Settlement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
The Debt Settlement is constituted "related party transactions" within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"), as certain insiders of the Company received an aggregate of 8,299,999 Common Shares. The Company is relying on the exemptions from the valuation approval requirements of MI 61-101 contained in section 5.5(b) of MI 61-101, as the Company's securities are not listed on one of the markets specified in section 5.5(b) of MI 61-101. The Company did not rely on an exemption the minority shareholder approval under MI 61-101, as minority shareholder approval for the Debt Settlement was received at the annual and special meeting of shareholders held on January 22, 2025.
Prior to the completion of the Debt Settlement, Mr. Gorden Glenn held, directly or indirectly, an aggregate of 5,270,740 Common Shares and 2,791,436 stock options, representing approximately 6.68% of the issued and outstanding Common Shares on an undiluted basis and approximately 9.86% on a partially diluted basis. Upon completion of the Debt Settlement, Mr. Glenn holds an aggregate of 13,570,739 Common Shares and 2,791,436 stock options, representing approximately 14.29% of the then issued and outstanding Common Shares on an undiluted basis and approximately 16.74% on a partially diluted basis. Depending on market and other conditions, or as future circumstances may dictate, Mr. Glenn may from time to time increase or decrease its holdings of Common Shares or other securities of the Company. A copy of the early warning report will be available on the Company's issuer profile on SEDAR+ at www.sedarplus.ca.
About Minnova Corp.
Minnova Corp. is focused on the restart of its PL Gold Mine, which included completion of a Positive Feasibility Study in 2018. The study concluded the restart of the PL Mine, at an average annual production rate of 46,493 ounces over a minimum 5-year mine life, was economically robust. Importantly the global resource remains open to expansion, as does the reserve. The PL Gold Mine benefits from a short pre-production timeline forecast at 15 months, a valid underground mining permit (Environment Act 1207E), an existing 1,000 tpd processing plant, over 7,000 meters of developed underground ramp to -135 metres depth. The project is fully road accessible and close to existing mining infrastructure in the prolific Flin Flon Greenstone Belt of Central Manitoba.
For more information, please contact:
Minnova Corp.Gorden GlennPresident & Chief Executive Officer
For further information, please contact Investor Relations at 647-985-2785 or info@minnovacorp.ca.
Visit our website at www.minnovacorp.ca.
Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259987
Due to strong hedge fund interest, Freeport-McMoRan Inc. (NYSE:FCX) is among the 11 Best Mineral Stocks to Buy According to Hedge Funds.
Copyright: tomas1111 / 123RF Stock Photo
Several analysts have raised their price target on Freeport-McMoRan Inc. (NYSE:FCX), amid a mixed outlook for copper.
On July 15, 2025, Morgan Stanley increased its price target on FCX from $45 to $54. However, it downgraded its rating from ‘Equal Weight’ to ‘Overweight’. The analyst attributed the downgrade to a weaker outlook on copper equities following their recent outperformance over the past few months.
Meanwhile, on July 11, 2025, UBS downgraded Freeport-McMoRan Inc. (NYSE:FCX) from ‘Buy’ to ‘Neutral’ and raised its price target from $45 to $50. The analyst expects demand to soften in the near future, with fundamentals potentially driving prices down over the next six months.
Furthermore, on July 9, 2025, JPMorgan, maintaining an ‘Overweight’ rating on Freeport-McMoRan Inc. (NYSE:FCX), increased its price target from $42 to $56, citing higher copper price targets and easing recession risk.
Headquartered in Phoenix, Arizona, Freeport-McMoRan Inc. (NYSE:FCX) runs mineral mining operations in North America, South America, and Indonesia, exploring for copper, gold, molybdenum, silver, and other metals. It is included in our list of the Best Material Stocks.
While we acknowledge the potential of FCX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 Best Cheap Stocks to Buy According to Billionaire Ray Dalio and 11 Best Mineral Stocks to Buy According to Hedge Funds.
Disclosure: None.
How much a stock's price changes over time is a significant driver for most investors. Not only can price performance impact your portfolio, but it can help you compare investment results across sectors and industries as well.
Another factor that can influence investors is FOMO, or the fear of missing out, especially with tech giants and popular consumer-facing stocks.
What if you'd invested in Harmony Gold (HMY) ten years ago? It may not have been easy to hold on to HMY for all that time, but if you did, how much would your investment be worth today?
Harmony Gold's Business In-Depth
With that in mind, let's take a look at Harmony Gold's main business drivers.
Harmony Gold Mining Company Limited is based in Randfontein, South Africa. The company conducts underground and surface gold mining. It is also engaged in related activities such as exploration, processing, smelting and refining. Harmony is South Africa's biggest gold producer by volume with production of 1.47 million ounces in fiscal 2023.The company’s mining operations are principally concentrated in South Africa. The company has nine underground operations located in the Witwatersrand Basin. Additionally, Harmony has an open-pit mine on the Kraaipan Greenstone Belt along with several surface sources treatment operations. The Hidden Valley, which is located in Papua New Guinea, is an open-pit silver and gold mine.Also, many of these mines are located in the Free State Province such as Welcom, Virginia, Tshepong and Bambanani, along with the Evander gold mine in Mpumalanga province, the Elandskraal mine at the West Rand goldfields in Gauteng province, and Kalgold operations in the North West province.The company has discontinued its mining operations at Mt. Magnet and South Kalgoorlie in Western Australia as a strategic move. Harmony recorded sales of $2,774 million for fiscal 2023 (ended Jun 30, 2023).
Exploration Projects
Domestic Projects: In South Africa, Harmony operates a total of nine underground operations, one open pit operation and several surface operations including an open cast mine, and nine processing plants, which are located in all of the currently known goldfields in the Witwatersrand basin of South Africa as well as the Kraaipan Greenstone Belt.
International Projects: In Papua New Guinea (PNG), Harmony has full ownership of Hidden Valley, an open-cast gold and silver project that began production in June 2009, and 50% ownership of the Wafi-Golpu project. Harmony’s exploration portfolio focuses principally on highly prospective areas in PNG and the Wafi-Golpu project in particular. Harmony expects that if Wafi-Golpu is developed, it will shift the company’s geographical mix from more than 90% South African production to 75% domestic output and 25% offshore. Harmony, in December 2022, also acquired the Eva Copper project and surrounding exploration tenements from Copper Mountain Mining Corporation.
Bottom Line
Putting together a successful investment portfolio takes a combination of research, patience, and a little bit of risk. For Harmony Gold, if you bought shares a decade ago, you're likely feeling really good about your investment today.
A $1000 investment made in July 2015 would be worth $14,314.29, or a gain of 1,331.43%, as of July 23, 2025, according to our calculations. This return excludes dividends but includes price appreciation.
Compare this to the S&P 500's rally of 198.45% and gold's return of 202.98% over the same time frame.
Analysts are forecasting more upside for HMY too.
Harmony Gold is advancing several key development projects, including the Wafi-Golpu copper-gold deposit in Papua New Guinea and the Eva Copper project in Australia, which are expected to enhance production and expand its international footprint significantly. The Golpu project is believed to be a game-changer for the company. The acquisition of Eva Copper aligns with the company's goal of transitioning into a low-cost gold and copper producer. Rallying gold prices are also expected to drive the company's performance. The rally has been driven by strong demand from central banks, a dovish Fed interest rate outlook, global uncertainties and a surge in safe-haven demand thanks to heightened geopolitical tensions. Harmony is also making progress in reducing its debt levels and improving cash flow.
Shares have gained 6.67% over the past four weeks and there have been 1 higher earnings estimate revisions for fiscal 2025 compared to none lower. The consensus estimate has moved up as well.
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Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Harmony Gold (HMY) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Harmony Gold is one of 238 individual stocks in the Basic Materials sector. Collectively, these companies sit at #10 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Harmony Gold is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for HMY's full-year earnings has moved 43.9% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, HMY has gained about 83.1% so far this year. Meanwhile, the Basic Materials sector has returned an average of 15.8% on a year-to-date basis. This means that Harmony Gold is performing better than its sector in terms of year-to-date returns.
Another stock in the Basic Materials sector, Novozymes A/S (NVZMY), has outperformed the sector so far this year. The stock's year-to-date return is 22.7%.
The consensus estimate for Novozymes A/S' current year EPS has increased 9.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Harmony Gold belongs to the Mining – Gold industry, a group that includes 39 individual companies and currently sits at #12 in the Zacks Industry Rank. On average, stocks in this group have gained 58.7% this year, meaning that HMY is performing better in terms of year-to-date returns.
On the other hand, Novozymes A/S belongs to the Chemical – Specialty industry. This 37-stock industry is currently ranked #89. The industry has moved +5.5% year to date.
Investors interested in the Basic Materials sector may want to keep a close eye on Harmony Gold and Novozymes A/S as they attempt to continue their solid performance.
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Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report
Novozymes A/S (NVZMY) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Harmony Gold (HMY) closed at $14.83 in the latest trading session, marking a -1.33% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.78%. Elsewhere, the Dow saw an upswing of 1.14%, while the tech-heavy Nasdaq appreciated by 0.61%.
Shares of the gold miner have appreciated by 6.67% over the course of the past month, outperforming the Basic Materials sector's gain of 6.63%, and the S&P 500's gain of 5.88%.
The investment community will be closely monitoring the performance of Harmony Gold in its forthcoming earnings report.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.85 per share and a revenue of $0 million, indicating changes of +190.82% and 0%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Harmony Gold. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.71% upward. Harmony Gold presently features a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Harmony Gold has a Forward P/E ratio of 5.27 right now. For comparison, its industry has an average Forward P/E of 12.14, which means Harmony Gold is trading at a discount to the group.
It is also worth noting that HMY currently has a PEG ratio of 0.09. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Mining – Gold industry had an average PEG ratio of 0.57.
The Mining – Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 12, finds itself in the top 5% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The market expects FMC (FMC) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 30. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus Estimate
This chemical producer is expected to post quarterly earnings of $0.59 per share in its upcoming report, which represents a year-over-year change of -6.4%.
Revenues are expected to be $965.4 million, down 7% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has been revised 1.32% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Price, Consensus and EPS Surprise Chart for FMCEarnings Whisper
Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model — the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for FMC?
For FMC, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +2.89%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that FMC will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?
While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that FMC would post earnings of $0.08 per share when it actually produced earnings of $0.18, delivering a surprise of +125.00%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom Line
An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
FMC appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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FMC Corporation (FMC) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Freeport-McMoRan recently reported robust earnings for the second quarter of 2025, with sales increasing to USD 7,582 million and net income rising to USD 772 million, showing notable improvement from the previous year. Alongside these positive financial outcomes, the company further advanced its commitment to shareholder value through an active share buyback program, repurchasing 1.5 million shares for USD 52 million last quarter. Combined with a general market upswing, these elements may have acted as catalysts for FCX’s 30% share price increase over the past quarter, buoyed by earnings optimism and economic data bolstering broader market confidence.
FCX Revenue & Expenses Breakdown as at Jul 2025
Freeport-McMoRan’s recent robust earnings report and proactive share buyback strategy appear to set a strong foundation for the company’s future growth narrative. These positive developments may further enhance the company’s revenue and earnings forecasts, aligning well with anticipated increases in copper and gold sales volumes. The reported improvements in net income alongside operational advancements could bolster the company’s projected profit margin improvements, suggesting a promising outlook for shareholder value. These indicators provide a context to the company’s recent 30% share price increase, reflecting earnings optimism and economic confidence.
Over a five-year period, Freeport-McMoRan has delivered a significant total return of approximately 268.56%, indicating a strong long-term performance. Despite its recent uptick in price, the company’s current share value of US$45.80 remains slightly below the consensus price target of US$49.34, suggesting potential room for growth. However, when compared to the one-year results of the US Metals and Mining industry, which saw returns of 15%, FCX underperformed. Recent price movements, coupled with these projections, position the shares near fair value according to analyst consensus, underscoring the notion of emerging stability rather than dramatic market revaluation.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include FCX.
This article was originally published by Simply Wall St.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
FEATURE Shares of Freeport-McMoRan fell Wednesday after the miner trimmed its full-year guidance and indicated tariffs could increase costs moving forward. Adjusted earnings of 54 cents a share came in above the 45 cents a share Wall Street had forecast, according to FactSet.
Freeport-McMoRan Inc. FCX recorded net income of $772 million or 53 cents per share for second-quarter 2025, up around 25.3% from $616 million or 42 cents in the year-ago quarter.Barring one-time items, adjusted earnings per share were 54 cents, topping the Zacks Consensus Estimate of 46 cents.Revenues rose roughly 14.5% year over year to $7,582 million. The figure surpassed the Zacks Consensus Estimate of $7,121.4 million. The company witnessed higher copper and gold prices in the reported quarter.
Freeport-McMoRan Inc. Price, Consensus and EPS Surprise
Freeport-McMoRan Inc. price-consensus-eps-surprise-chart | Freeport-McMoRan Inc. Quote
FCX's Operational Highlights
Copper production fell around 7.1% year over year to 963 million pounds in the reported quarter. The figure missed our estimate of 1,035 million pounds.Consolidated sales increased approximately 9.1% year over year, reaching 1,016 million pounds of copper. The upside is primarily driven by shipment timing. The company sold 522,000 ounces of gold, up around 44.6% year over year. FCX also sold 22 million pounds of molybdenum, up about 4.8%.Consolidated average unit net cash costs per pound of copper were $1.13, down from $1.73 a year ago. The figure lagged our estimate of $1.50.The average realized copper price was $4.54 per pound, up around 1.3% year over year. The figure beat our estimate of $4.20 per pound. The average realized price per ounce for gold rose around 43.1% year over year to $3,291. The figure topped our estimate of $3,024.
Freeport's Financial Position
Cash and cash equivalents at the end of the quarter were $4,490 million, down around 14.8% year over year. The company’s total debt was $9,251 million, down 1.8%.Cash flows provided by operations were around $2,195 million in the reported quarter, up 12.2% year over year.
FCX's Guidance
For full-year 2025, consolidated sales volumes are projected to be around 3.95 billion pounds of copper, 1.3 million ounces of gold and 82 million pounds of molybdenum. This includes an estimated 1 billion pounds of copper, 350,000 ounces of gold and 18 million pounds of molybdenum expected to be sold in the third quarter.
Freeport's Price Performance
Freeport’s shares are up 3.6% in the past year against an 6.8% decline in the industry.
Zacks Investment Research
Image Source: Zacks Investment Research
FCX’s Zacks Rank & Key Picks
FCX currently carries a Zacks Rank #3 (Hold).Better-ranked stocks worth a look in the basic materials space include Royal Gold, Inc. RGLD, Kinross Gold Corporation KGC and Agnico Eagle Mines AEM.Royal Gold is slated to report second-quarter results on Aug 6. The Zacks Consensus Estimate for earnings is pegged at $1.70. RGLD beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 9%. RGLD carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Kinross is scheduled to report second-quarter results on July 30. The Zacks Consensus Estimate for KGC’s second-quarter earnings is pegged at 27 cents. KGC beat the Zacks Consensus Estimate in three of the last four quarters, with the average earnings surprise being 16.1%. KGC currently carries a Zacks Rank #1.Agnico Eagle is slated to report second-quarter results on July 30. The consensus estimate for AEM’s earnings is pegged at $1.66. AEM, carrying a Zacks Rank #1, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 12.3%.
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Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report
Kinross Gold Corporation (KGC) : Free Stock Analysis Report
Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report
Royal Gold, Inc. (RGLD) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Freeport-McMoRan (FCX) reported $7.58 billion in revenue for the quarter ended June 2025, representing a year-over-year increase of 14.5%. EPS of $0.54 for the same period compares to $0.46 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $7.12 billion, representing a surprise of +6.47%. The company delivered an EPS surprise of +17.39%, with the consensus EPS estimate being $0.46.
While investors closely watch year-over-year changes in headline numbers — revenue and earnings — and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Freeport-McMoRan performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
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Sales in thousands of ounces – Gold – Consolidated basis: 522.00 Koz compared to the 498.98 Koz average estimate based on three analysts.
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Production in millions of pounds – Molybdenum – South America (Cerro Verde): 4.00 Mlbs compared to the 6.67 Mlbs average estimate based on three analysts.
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Production in millions of pounds – Molybdenum – By-product – North America: 9.00 Mlbs compared to the 7.67 Mlbs average estimate based on three analysts.
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Total Net Cash Cost Per Pound of Copper: $1.13 compared to the $1.30 average estimate based on three analysts.
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Sales in thousands of Ounces – Gold – Indonesia: 518.00 Koz versus 494.89 Koz estimated by three analysts on average.
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Revenues- Indonesia: $3.42 billion versus the three-analyst average estimate of $3.16 billion. The reported number represents a year-over-year change of +50.7%.
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Revenues- Molybdenum: $180 million compared to the $254.9 million average estimate based on three analysts. The reported number represents a change of +30.4% year over year.
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Revenues- South America copper mines: $1.26 billion compared to the $1.26 billion average estimate based on three analysts. The reported number represents a change of -16.6% year over year.
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Revenues- North America copper mines: $1.03 billion versus $1.59 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -33% change.
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Revenues- Rod & Refining: $1.7 billion compared to the $1.63 billion average estimate based on two analysts. The reported number represents a change of -0.2% year over year.
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Revenues- Atlantic Copper Smelting & Refining: $818 million compared to the $786.41 million average estimate based on two analysts. The reported number represents a change of -9.1% year over year.
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Revenues- Corporate, other & eliminations: $-1.51 billion versus $-1.73 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +4.6% change.
View all Key Company Metrics for Freeport-McMoRan here>>>
Shares of Freeport-McMoRan have returned +9% over the past month versus the Zacks S&P 500 composite's +5.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Freeport-McMoRan (FCX) came out with quarterly earnings of $0.54 per share, beating the Zacks Consensus Estimate of $0.46 per share. This compares to earnings of $0.46 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +17.39%. A quarter ago, it was expected that this mining company would post earnings of $0.24 per share when it actually produced earnings of $0.24, delivering no surprise.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Freeport-McMoRan, which belongs to the Zacks Mining – Non Ferrous industry, posted revenues of $7.58 billion for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 6.47%. This compares to year-ago revenues of $6.62 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Freeport-McMoRan shares have added about 20.3% since the beginning of the year versus the S&P 500's gain of 7.3%.
What's Next for Freeport-McMoRan?
While Freeport-McMoRan has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Freeport-McMoRan was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.56 on $7.32 billion in revenues for the coming quarter and $1.76 on $27.94 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Mining – Non Ferrous is currently in the top 17% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Lundin Mining (LUNMF), has yet to report results for the quarter ended June 2025. The results are expected to be released on August 6.
This base metals mining company is expected to post quarterly earnings of $0.10 per share in its upcoming report, which represents a year-over-year change of -37.5%. The consensus EPS estimate for the quarter has been revised 15.1% higher over the last 30 days to the current level.
Lundin Mining's revenues are expected to be $871.02 million, down 19.6% from the year-ago quarter.
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Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report
Lundin Mining Corp. (LUNMF) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
By Ernest Scheyder and Tanay Dhumal
(Reuters) -Freeport-McMoRan has yet to see details of U.S. President Donald Trump's plan to impose a 50% tariff on copper imports starting next week, its CEO said on Wednesday after the mining company posted better-than-expected quarterly results.
Trump announced the tariffs earlier this month as part of a plan to boost U.S. production of a metal critical to electric vehicles, military hardware, the power grid and many consumer goods.
The duty is slated to begin on August 1. The U.S. imports roughly half of its annual copper needs.
Trump and his administration have not shared details on what type of the red metal the tariff would affect, a lack of clarity that has confounded producers, companies that use copper and countries that export it.
"We're still waiting on additional details on implementation of the tariff announcement," Freeport CEO Kathleen Quirk told investors on a conference call on Wednesday.
Quirk added that Freeport is "not aware of any exemptions at this point" for U.S. imports of the metal.
Responsible for 70% of refined U.S. copper – the country's largest producer – Phoenix-based Freeport would be the biggest beneficiary of any copper tariff, with a boost to annual profit of at least $1.6 billion, Reuters reported earlier this month.
Freeport also produces copper in Chile, Peru and Indonesia, where it operates the Grasberg mine – the world's second-largest copper mine – and a smelter.
While Freeport traditionally has sold its Indonesian copper to Asian customers, Quirk said the company would consider shipping some supply to the United States.
"We do have flexibility to send it to the place that makes the most sense," she said. "We don't have long-term contracts locked up" for Indonesian copper.
Freeport operates one of two U.S. copper smelters and has been studying whether to expand its capacity by roughly 30%, Quirk said, adding that the company has not discussed the plans with the Trump administration and that it has no desire to build a new U.S. smelter.
U.S. copper prices have gained more than 25% since Trump announced the tariffs. When asked whether the increase could affect copper demand, Freeport executives said they continued to see strong demand but longer-term saw the issue tied to how the tariff is implemented.
"Ultimately, it's going to be global supply and demand that will end up driving (prices), and then whatever tariffs are there, how they're absorbed and where they're absorbed in the U.S. marketplace," said Freeport's chairman, Richard Adkerson.
Adkerson added that Freeport has lobbied Washington to streamline the mine-permitting process to boost the country's copper output.
RESULTS
For the second quarter, Freeport's profit beat Wall Street's estimates as higher copper and gold prices offset lower production.
The company reported an adjusted profit of 54 cents per share for the three months ended June 30, compared with analysts' average estimate of 45 cents, according to data compiled by LSEG.
The company's shares were down about 1.5% at $45.09 on Wednesday afternoon.
Freeport said it expects to sell 1.3 billion pounds from its domestic mines in 2025.
The company warned of a roughly 5% increase in the cost of its U.S. purchases if suppliers pass along tariff-related expenses for other materials.
The company's quarterly average realized price for copper was $4.54 per pound, up 1.3% from a year earlier, while its average realized price for gold was $3,291 per ounce, up about 43%.
However, second-quarter copper production dropped around 7% from a year earlier to 963 million recoverable pounds.
(Reporting by Tanay Dhumal in Bengaluru and Ernest Scheyder in Houston; Editing by Sriraj Kalluvila and Matthew Lewis)
PHOENIX (AP) — PHOENIX (AP) — Freeport-McMoRan Inc. (FCX) on Wednesday reported second-quarter earnings of $772 million.
The Phoenix-based company said it had net income of 53 cents per share. Earnings, adjusted for non-recurring costs, were 54 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The mining company posted revenue of $7.58 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $7.12 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FCX at https://www.zacks.com/ap/FCX
PHOENIX, July 23, 2025–(BUSINESS WIRE)–Freeport (NYSE: FCX) today announced that it has posted its second-quarter and six-month 2025 financial and operating results press release on the Investor Relations page of its website at https://investors.fcx.com/investors/news-releases.
As previously indicated on its website, FCX will host a conference call today with securities analysts at 10:00 a.m. Eastern Time to discuss quarterly and six-month results. The conference call will be webcast on the Internet along with slides. Interested parties may listen to the conference call live and view the slides on the Investor Relations page of FCX’s website at https://investors.fcx.com/investors/presentations. A replay of the webcast will be available through Friday, August 22, 2025.
FREEPORT: Foremost in Copper
FCX is a leading international metals company with the objective of being foremost in copper. Headquartered in Phoenix, Arizona, FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is one of the world’s largest publicly traded copper producers.
FCX’s portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits; and significant operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru.
By supplying responsibly produced copper, FCX is proud to be a positive contributor to the world well beyond its operational boundaries. Additional information about FCX is available on FCX's website at fcx.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250722971053/en/
Contacts
Financial Contact:David P. Joint(504) 582-4203
Media Contact:Linda S. Hayes(602) 366-7824
Toronto, Ontario–(Newsfile Corp. – July 22, 2025) – Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) ("Minnova" or the "Company") announces that further to its press releases of May 7, 2025, June 19, 2025 and July 14, 2025, the Company has applied to the TSX Venture Exchange for an extension of its price protection for an additional ten (10) days in order to complete the previously announced non-brokered private placement of up to 16,000,000 units at a price of $0.05 per unit for aggregate gross proceeds of up to $800,000 (the "Offering").
The Company closed the initial tranche of the Offering on July 14, 2025, through the issuance of 8,510,000 Units for gross proceeds of $425,00. For further details on the Offering, please refer to the Company's press release of May 7, 2025.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Minnova Corp.
Minnova Corp. is focused on the restart of its PL Gold Mine, which included completion of a Positive Feasibility Study in 2018 using a long-term gold price of US$1,250 per ounce. The study concluded the restart of the PL Mine, at an average annual production rate of 46,493 ounces over a minimum 5-year mine life, was economically robust. Importantly the global resource remains open to expansion, as does the reserve. The PL Gold Mine benefits from a short pre-production timeline forecast at 15 months, a valid underground mining permit (Environment Act 1207E), an existing 1,000 tpd processing plant, over 7,000 meters of developed underground ramp to -135 metres depth. The project is fully road accessible and close to existing mining infrastructure in the prolific Flin Flon Greenstone Belt of Central Manitoba.
For more information, please contact:
Minnova Corp.Gorden Glenn President & Chief Executive Officer
Investor Relations: info@minnovacorp.ca
Website: www.minnovacorp.ca
Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
NOT FOR DISSEMINATION INTO THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259719
VANCOUVER, BC, July 22, 2025 /CNW/ – Rokmaster Resources Corp. (TSXV: RKR) (OTCQB: RKMSF) (FSE: 1RR1) ("Rokmaster" or "the Company") is pleased to provide an update for ongoing fieldwork on the Nechako Project.
The Nechako Project area totals 27,178 hectares (271 km2) across three properties located in west-central British Columbia. Despite significant improvements in access by logging and in outcrop exposure by fires, the region remains an underexplored portion of the productive Stikine terrane which hosts many past producing deposits and advanced development projects (Figure 1).
Fieldwork beginning in May 2025 has already completed several key goals:
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Ongoing prospecting and mapping on the Fox-Coconut and Mystery Properties including the collection of samples for spectral analysis.
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Initial prospecting and soil sampling program completed on the Hanson Property resulted in the collection of 61 rock samples, 304 soil samples, and one sample for geochronology.
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Airborne high-resolution magnetic surveys completed 70 line-km over the Fox Showing and 176 line-km over the central portion of the Mystery Property.
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A field visit to the project properties by Mr. Alan J. Wilson, renowned expert in porphyry copper systems confirmed highly encouraging potassic alteration related to chalcopyrite and molybdenite mineralization on Rokmaster's Mystery and Hanson Properties.
Fieldwork plans for this August include:
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Ongoing permitting work on the Hanson and Mystery Properties.
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Trenching and sampling of the NW Structure on the Coconut Property.
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A large phase of prospecting, mapping, and channel sampling on the Mystery Property.
John Mirko, President and CEO, comments:
"The field crews are off to a great start on the Nechako Project. After the first dedicated field work program on the Hanson Property we are very encouraged by what was observed in the field and are looking forward to the geochemical results. Work is ongoing on the Fox-Coconut and Mystery Properties where multiple datasets will be added to and combined together to develop robust targets for high-grade gold – silver mineralization and significant porphyry Cu-(Au-Mo) mineralization."
On Behalf of the Board of Directors of
Rokmaster Resources Corp.
John Mirko,President & Chief Executive Officer.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term in defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," 'projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: receipt of regulatory approval with respect to the Hanson Property transaction; risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Rokmaster's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Rokmaster Resources Corp. logo (CNW Group/Rokmaster Resources Corp.)
SOURCE Rokmaster Resources Corp.
Cision
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/22/c7957.html
Rokmaster Resources (RKR.V) was edging lower on Tuesday after providing an update for ongoing fieldw
Harmony Gold Mining Co. Ltd. HMY is positioning itself for long-term growth through disciplined execution of two transformative development projects — the Wafi-Golpu copper-gold project in Papua New Guinea (PNG) and the Eva Copper project in Australia.The Wafi-Golpu project is believed to be a game-changer for the company, with an estimated gold reserve of 13 million ounces. This Tier 1 asset, which is core to HMY’s long-term strategy, is among the world’s largest copper-gold block cave projects. HMY is currently in negotiations with its joint venture partner, Newmont Corporation NEM, and the PNG Government regarding the terms of a Mining Development Contract, which is required for a Special Mining Lease. The permitting of the project is on track.The low-risk Eva Copper project in Australia offers additional upside, giving HMY a significant global copper-gold footprint. HMY acquired Eva Copper in 2022, adding a tier-one mining jurisdiction to its portfolio. The acquisition is in line with HMY’s objective of transitioning into a low-cost gold and copper mining company. The feasibility study update for the project is currently underway. Eva Copper is expected to produce 55,000-60,000 tons of copper per annum.These copper-gold assets are central to HMY’s strategy of diversification beyond South African gold operations. Harmony’s paired focus on Wafi-Golpu and Eva Copper, if executed on schedule, uniquely positions it to deliver transformative growth. Among its peers, AngloGold Ashanti plc AU is executing a clear strategy of organic and inorganic growth. Obuasi remains a significant pillar of AngloGold Ashanti’s long-term strategy. AngloGold Ashanti’s focus this year is to continue the implementation of the underhand drift and fill mining method and make stoping improvements. At Siguiri, efforts are underway to improve mining volumes through ongoing improvements to fleet availability and utilization. Gold Fields Limited GFI is advancing its high-grade Windfall project in Quebec, targeting 300,000 ounces of gold annually. Gold Fields acquired 100% ownership of the Windfall project through the completion of its acquisition of Osisko Mining in October 2024. Gold Fields is focused on obtaining the required environmental approvals for full-scale construction and mining.
HMY’s Price Performance, Valuation & Estimates
Shares of Harmony Gold have rallied 64.9% over a year against the Zacks Mining – Gold industry’s rise of 33.4%, thanks to a surge in gold prices.
Zacks Investment Research
Image Source: Zacks Investment Research
From a valuation standpoint, HMY is currently trading at a forward 12-month earnings multiple of 5.26, a roughly 56.3% discount to the industry average of 12.04X. It carries a Value Score of B.
Zacks Investment Research
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for HMY’s fiscal 2025 earnings implies a year-over-year rise of 190.8%. The EPS estimates for fiscal 2025 have been trending higher over the past 60 days.
Zacks Investment Research
Image Source: Zacks Investment Research
HMY stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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Newmont Corporation (NEM) : Free Stock Analysis Report
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Gold Fields Limited (GFI) : Free Stock Analysis Report
Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
We recently published 10 Resilient Stocks Defying Market Sentiment. Harmony Gold Mining Company Limited (NYSE:HMY) is one of Monday’s biggest gainers.
Harmony Gold snapped a four-day losing streak on Monday, adding 7.53 percent to close at $14.99 apiece as investors took heart from an investment firm’s positive initial coverage and higher price target.
In a market note late last week, BMO Capital gave Harmony Gold Mining Company Limited’s (NYSE:HMY) a “market perform” rating and a price target of $16 apiece, or a 6.7-percent upside from its latest closing price.
According to BMO Capital, its coverage reflected the company’s leadership position in the gold mining industry, adding that it was one of the best performers in the sector.
Harmony Gold (HMY) Gets Price Target Upgrade, Jumps 7.5%
An open pit mine with heavy excavation machinery toiling away against the backdrop of a hidden valley.
Additionally, the coverage factored in Harmony Gold Mining Company Limited’s (NYSE:HMY) steady operational results and favorable gold prices.
The investment firm said it would continue to monitor the gold miner’s stock and performance for more visibility on its fiscal 2026 outlook and future capital allocation strategy before assigning a more positive stance on its stock.
While we acknowledge the potential of HMY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
In the latest market close, Freeport-McMoRan (FCX) reached $38.89, with a -1.89% movement compared to the previous day. The stock fell short of the S&P 500, which registered a loss of 0.56% for the day. Elsewhere, the Dow saw a downswing of 0.58%, while the tech-heavy Nasdaq depreciated by 0.51%.
Coming into today, shares of the mining company had gained 6.65% in the past month. In that same time, the Basic Materials sector gained 3.81%, while the S&P 500 gained 7.37%.
The investment community will be closely monitoring the performance of Freeport-McMoRan in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.47, reflecting a 2.17% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $6.93 billion, reflecting a 4.69% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.67 per share and a revenue of $26.91 billion, demonstrating changes of +12.84% and +5.71%, respectively, from the preceding year.
Any recent changes to analyst estimates for Freeport-McMoRan should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.34% higher. Freeport-McMoRan is currently a Zacks Rank #3 (Hold).
In terms of valuation, Freeport-McMoRan is currently trading at a Forward P/E ratio of 23.8. This denotes a premium relative to the industry's average Forward P/E of 21.62.
We can additionally observe that FCX currently boasts a PEG ratio of 0.78. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Mining – Non Ferrous stocks are, on average, holding a PEG ratio of 0.8 based on yesterday's closing prices.
The Mining – Non Ferrous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 47, finds itself in the top 20% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Antofagasta's (LON:ANTO) stock is up by a considerable 5.8% over the past month. As most would know, fundamentals are what usually guide market price movements over the long-term, so we decided to look at the company's key financial indicators today to determine if they have any role to play in the recent price movement. Particularly, we will be paying attention to Antofagasta's ROE today.
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
How Do You Calculate Return On Equity?
ROE can be calculated by using the formula:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Antofagasta is:
10% = US$1.3b ÷ US$13b (Based on the trailing twelve months to December 2024).
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every £1 of its shareholder's investments, the company generates a profit of £0.10.
View our latest analysis for Antofagasta
What Has ROE Got To Do With Earnings Growth?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company’s earnings growth potential. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.
Antofagasta's Earnings Growth And 10% ROE
On the face of it, Antofagasta's ROE is not much to talk about. However, given that the company's ROE is similar to the average industry ROE of 12%, we may spare it some thought. Even so, Antofagasta has shown a fairly decent growth in its net income which grew at a rate of 11%. Given the slightly low ROE, it is likely that there could be some other aspects that are driving this growth. Such as – high earnings retention or an efficient management in place.
Next, on comparing Antofagasta's net income growth with the industry, we found that the company's reported growth is similar to the industry average growth rate of 10% over the last few years.
LSE:ANTO Past Earnings Growth May 28th 2025
Earnings growth is an important metric to consider when valuing a stock. It’s important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). This then helps them determine if the stock is placed for a bright or bleak future. If you're wondering about Antofagasta's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
Is Antofagasta Efficiently Re-investing Its Profits?
Antofagasta has a three-year median payout ratio of 42%, which implies that it retains the remaining 58% of its profits. This suggests that its dividend is well covered, and given the decent growth seen by the company, it looks like management is reinvesting its earnings efficiently.
Besides, Antofagasta has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders. Our latest analyst data shows that the future payout ratio of the company over the next three years is expected to be approximately 38%. Accordingly, forecasts suggest that Antofagasta's future ROE will be 11% which is again, similar to the current ROE.
Portfolio Valuation calculation on simply wall stSummary
In total, it does look like Antofagasta has some positive aspects to its business. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
The most recent trading session ended with Southern Copper (SCCO) standing at $93.16, reflecting a +0.89% shift from the previouse trading day's closing. This change lagged the S&P 500's 2.05% gain on the day. Elsewhere, the Dow saw an upswing of 1.78%, while the tech-heavy Nasdaq appreciated by 2.47%.
The the stock of miner has fallen by 1.58% in the past month, lagging the Basic Materials sector's gain of 2.82% and the S&P 500's gain of 5.21%.
Market participants will be closely following the financial results of Southern Copper in its upcoming release. On that day, Southern Copper is projected to report earnings of $1.05 per share, which would represent a year-over-year decline of 13.93%. Meanwhile, our latest consensus estimate is calling for revenue of $2.9 billion, down 6.86% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.38 per share and a revenue of $11.88 billion, signifying shifts of +1.15% and +3.86%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Southern Copper. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.92% decrease. Currently, Southern Copper is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Southern Copper is presently being traded at a Forward P/E ratio of 21.07. This valuation marks a premium compared to its industry's average Forward P/E of 21.02.
Meanwhile, SCCO's PEG ratio is currently 2.23. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Mining – Non Ferrous industry was having an average PEG ratio of 0.77.
The Mining – Non Ferrous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 32, placing it within the top 13% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Southern Copper Corporation (SCCO) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Key Insights
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Significantly high institutional ownership implies Freeport-McMoRan's stock price is sensitive to their trading actions
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A total of 17 investors have a majority stake in the company with 50% ownership
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Analyst forecasts along with ownership data serve to give a strong idea about prospects for a business
A look at the shareholders of Freeport-McMoRan Inc. (NYSE:FCX) can tell us which group is most powerful. And the group that holds the biggest piece of the pie are institutions with 86% ownership. In other words, the group stands to gain the most (or lose the most) from their investment into the company.
Given the vast amount of money and research capacities at their disposal, institutional ownership tends to carry a lot of weight, especially with individual investors. As a result, a sizeable amount of institutional money invested in a firm is generally viewed as a positive attribute.
Let's delve deeper into each type of owner of Freeport-McMoRan, beginning with the chart below.
Check out our latest analysis for Freeport-McMoRan
NYSE:FCX Ownership Breakdown May 25th 2025What Does The Institutional Ownership Tell Us About Freeport-McMoRan?
Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.
As you can see, institutional investors have a fair amount of stake in Freeport-McMoRan. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Freeport-McMoRan's earnings history below. Of course, the future is what really matters.
NYSE:FCX Earnings and Revenue Growth May 25th 2025
Institutional investors own over 50% of the company, so together than can probably strongly influence board decisions. We note that hedge funds don't have a meaningful investment in Freeport-McMoRan. Looking at our data, we can see that the largest shareholder is The Vanguard Group, Inc. with 8.7% of shares outstanding. In comparison, the second and third largest shareholders hold about 7.6% and 6.7% of the stock.
Looking at the shareholder registry, we can see that 50% of the ownership is controlled by the top 17 shareholders, meaning that no single shareholder has a majority interest in the ownership.
While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.
Insider Ownership Of Freeport-McMoRan
While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.
I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.
Our data suggests that insiders own under 1% of Freeport-McMoRan Inc. in their own names. It is a very large company, so it would be surprising to see insiders own a large proportion of the company. Though their holding amounts to less than 1%, we can see that board members collectively own US$280m worth of shares (at current prices). In this sort of situation, it can be more interesting to see if those insiders have been buying or selling.
General Public Ownership
With a 13% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Freeport-McMoRan. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies.
Next Steps:
It's always worth thinking about the different groups who own shares in a company. But to understand Freeport-McMoRan better, we need to consider many other factors.
I like to dive deeper into how a company has performed in the past. You can find historic revenue and earnings in this detailed graph.
But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future.
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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NEW YORK, May 23, 2025 (GLOBE NEWSWIRE) — Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from Precious Metals & Critical Minerals Hybrid Virtual Investor Conference held May 22nd are now available for online viewing.
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May 22nd
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Keynote Presentation: “What’s next for precious metals?”-Jeff Christian, Managing Partner of CPM Group |
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Keynote Presentation: “Surveying the Critical Metals Landscape,”–Jack Lifton, Senior Advisor, Energy Fuels, Inc. |
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Azimut Exploration Inc. |
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Teck Resources Ltd
VANCOUVER, British Columbia, May 23, 2025 (GLOBE NEWSWIRE) — Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) has been notified of an unsolicited “mini-tender” offer by TRC Capital Corporation (“TRC”) to purchase up to 2.0 million Class B subordinate voting shares of Teck, representing approximately 0.41 percent of Teck’s outstanding Class B subordinate voting shares as of May 23, 2025.
The offer price of $47.80 represents a 4.46% discount to the closing price of Teck’s Class B subordinate voting shares on the Toronto Stock Exchange on May 20, 2025, the day prior to the date of the offer.
Teck recommends that shareholders NOT tender their Class B subordinate voting shares in response to TRC's below-market price mini-tender offer. TRC’s mini-tender offer is subject to many conditions, including conditions based on TRC’s subjective opinion, a financing condition, and a condition that there shall not have occurred since May 20, 2025, a decrease in the price of Teck’s Class B subordinate voting shares, the Dow Jones Industrial Average, the S&P 500 Average or a number of other stock market indices.
Teck does not endorse TRC's unsolicited mini-tender offer and is not associated with TRC, the mini-tender offer or the offer documentation. TRC has made many similar unsolicited mini-tender offers for shares of other companies. Mini-tender offers are designed to seek less than 5% of a company's outstanding shares, thereby avoiding many investor protections such as disclosure and procedural requirements applicable to most takeover bids and tender offers under applicable Canadian and U.S. securities laws. Shareholders who are considering tendering their shares to TRC's mini-tender offer are strongly urged to exercise caution with respect to TRC's offer, obtain current market quotations for their Teck Class B subordinate voting shares, consult with their financial advisors and carefully examine TRC's mini-tender offer.
The Canadian Securities Administrators ("CSA") have expressed serious concerns about mini-tender offers such as the possibility that investors might tender to a mini-tender offer based upon a misunderstanding of the terms of the offer, including the per security price available under the offer relative to the market price of such securities. The CSA’s long-standing guidance on mini-tenders can be found at: https://www.osc.ca/en/securities-law/instruments-rules-policies/6/61-301/csa-staff-notice-61-301-staff-guidance-practice-mini-tenders. The U.S. Securities and Exchange Commission has published investor tips regarding mini-tender offers on its website at: https://www.sec.gov/about/reports-publications/investorpubsminitend.
Brokers, dealers and other market participants are encouraged to exercise caution and review the letter regarding broker-dealer mini-tender offer dissemination and disclosures on the SEC website at https://www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.
According to TRC's current offer documents, Teck shareholders who have already tendered their shares may withdraw their shares at any time before 11:59 a.m. (Toronto time) on June 18, 2025, by following the procedures described in the offer documents.
Teck requests that TRC include a copy of this news release with all distributions of materials relating to TRC’s mini-tender offer related to Teck shares.
Forward-Looking StatementsThis press release contains certain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information as defined in the Securities Act (Ontario). Forward-looking statements and information can be identified by statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or achieved. Forward-looking statements include the success of TRC’s mini-tender, the expected outcome of TRC’s mini-tender including satisfaction of the applicable conditions, the level of shareholder participation in the mini-tender, and the CSA’s and SEC’s guidance on and continued concerns with mini-tenders.
Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Teck to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general business and economic conditions, interest rates, commodity and power prices, the level of shareholder participation in and the terms and conditions of the mini-tender, and other matters. The foregoing list of assumptions is not exhaustive. Events or circumstances could cause actual results to vary materially.
Factors that may cause actual results to vary include, but are not limited to, changes in the mini-tender, including the applicable conditions, shareholder participation in the mini-tender, changes in CSA and SEC recommendations, the dissemination of this press release with future TRC mini-tender offer materials or communications, public filings with the Canadian securities administrators and the U.S. Securities and Exchange Commission surrounding TRC’s mini-tender, Teck shareholders’ ability to withdraw their tendered shares, and changes or deterioration in general economic conditions. Teck does not assume the obligation to revise or update these forward-looking statements after the date of this document, except as may be required under applicable securities laws.
About TeckTeck is a leading Canadian resource company focused on responsibly providing metals essential to economic development and the energy transition. Teck has a portfolio of world-class copper and zinc operations across North and South America and an industry-leading copper growth pipeline. We are focused on creating value by advancing responsible growth and ensuring resilience built on a foundation of stakeholder trust. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.
Investor Contact:Emma ChapmanVice President, Investor Relations +44.207.509.6576emma.chapman@teck.com
Media Contact:Dale SteevesDirector, External Communications236.987.7405 dale.steeves@teck.com
Over the last 7 days, the United States market has dropped by 1.4%, but over the longer term, it has risen by 11% in the past year with earnings forecast to grow by 14% annually. In this fluctuating environment, reliable dividend stocks can offer a steady income stream and potential for growth, making them an attractive option for investors seeking stability and returns.
Top 10 Dividend Stocks In The United States
|
Name |
Dividend Yield |
Dividend Rating |
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Columbia Banking System (NasdaqGS:COLB) |
6.09% |
★★★★★★ |
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First Interstate BancSystem (NasdaqGS:FIBK) |
7.10% |
★★★★★★ |
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Dillard’s (NYSE:DDS) |
6.15% |
★★★★★★ |
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Ennis (NYSE:EBF) |
5.34% |
★★★★★★ |
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Chevron (NYSE:CVX) |
5.06% |
★★★★★★ |
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Credicorp (NYSE:BAP) |
5.35% |
★★★★★☆ |
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Southside Bancshares (NYSE:SBSI) |
5.12% |
★★★★★☆ |
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Valley National Bancorp (NasdaqGS:VLY) |
5.06% |
★★★★★☆ |
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Huntington Bancshares (NasdaqGS:HBAN) |
4.02% |
★★★★★☆ |
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Carter’s (NYSE:CRI) |
9.89% |
★★★★★☆ |
Click here to see the full list of 146 stocks from our Top US Dividend Stocks screener.
Let’s take a closer look at a couple of our picks from the screened companies.
Simply Wall St Dividend Rating: ★★★★★☆
Overview: First Horizon Corporation, with a market cap of $9.86 billion, operates as the bank holding company for First Horizon Bank, offering a range of financial services.
Operations: First Horizon Corporation’s revenue segments include Wholesale generating $430 million and Commercial, Consumer, and Wealth contributing $2.85 billion.
Dividend Yield: 3%
First Horizon’s dividend yield of 3.04% is reliable, with a stable payout history over the past decade. The company’s dividends are well covered by earnings, with a current payout ratio of 41.5%, projected to decrease to 32.5% in three years, indicating sustainability. Recent activities include share buybacks totaling $488.87 million and amendments to company bylaws affecting board composition. Additionally, First Horizon has declared cash dividends on various preferred stock series payable in mid-2025.
NYSE:FHN Dividend History as at May 2025GeoPark
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: GeoPark Limited is an oil and natural gas exploration and production company operating in several Latin American countries, with a market cap of $346.91 million.
Operations: GeoPark Limited generates revenue primarily from its oil and gas exploration and production segment, amounting to $630.77 million.
Dividend Yield: 8.7%
GeoPark’s dividend yield is among the top 25% in the U.S. market, supported by a low payout ratio of 38.5%, indicating sustainability despite a volatile six-year payment history. The company declared a quarterly dividend of $0.147 per share, approximately $7.5 million, payable June 2025. Although recent earnings showed declines with net income at $13.07 million for Q1 2025, new leadership under Felipe Bayon could influence future performance and strategy execution in core assets like Vaca Muerta and Llanos 34 Block.
NYSE:GPRK Dividend History as at May 2025Southern Copper
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Southern Copper Corporation is involved in mining, exploring, smelting, and refining copper and other minerals across Peru, Mexico, Argentina, Ecuador, and Chile with a market cap of $73.11 billion.
Operations: Southern Copper Corporation’s revenue segments include $6.60 billion from Mexican Open-Pit operations, $4.84 billion from Peruvian Operations, and $713.10 million from the Mexican Industrial Minera Mexico and Subsidiaries (IMMSA) Unit.
Dividend Yield: 3%
Southern Copper’s dividend payments are supported by a reasonable payout ratio of 43.6%, covered by both earnings and cash flows, but have been historically volatile over the past decade. Despite this instability, dividends have grown in the same period. Recent financial results show strong performance with Q1 2025 sales at US$3.12 billion and net income at US$945.9 million, reflecting a significant year-over-year increase, though its dividend yield remains below the top U.S. payers at 3.03%.
NYSE:SCCO Dividend History as at May 2025Make It Happen
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include NYSE:FHN NYSE:GPRK and NYSE:SCCO.
This article was originally published by Simply Wall St.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Why Investors Should Pay Attention to This Value Stock
Value investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, and Price/Cash Flow, the Value Style Score identifies the most attractive and most discounted stocks.
Freeport-McMoRan (FCX)
Based in Phoenix, AZ, Freeport-McMoRan Inc., formerly Freeport-McMoRan Copper & Gold Inc., is engaged in mineral exploration and development; mining and milling of copper, gold, molybdenum and silver; as well as the smelting and refining of copper concentrates. The company conducts its operations primarily through its principal operating subsidiaries, PT Freeport Indonesia (PT-FI), Freeport Minerals Corporation and Atlantic Copper. PT Freeport Indonesia’s principal asset is Papua, Indonesia-based Grasberg mine, which contains the world’s largest copper and gold reserves.
FCX sits at a Zacks Rank #3 (Hold), holds a Value Style Score of B, and has a VGM Score of A. Compared to the Mining – Non Ferrous industry's P/E of 20.4X, shares of Freeport-McMoRan are trading at a forward P/E of 22.8X. FCX also has a PEG Ratio of 0.7, a Price/Cash Flow ratio of 12.5X, and a Price/Sales ratio of 2.2X.
Many value investors pay close attention to a company's earnings as well. For FCX, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.02 to $1.67 per share for 2025. Per share FCX boasts an average earnings surprise of 10.5%.
With strong valuation and earnings metrics, a good Zacks Rank, and top-tier Value and VGM Style Scores, investors should strongly think about adding FCX to their portfolios.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
(This story has been refiled to expand the company name of Rio Tinto in the headline)
By Melanie Burton, Clara Denina
MELBOURNE/LONDON (Reuters) -As Rio Tinto searches for a new CEO, the miner will cast a wide net due to a very short list of possible internal candidates, sources said, in contrast with laser-focused succession planning at its main rival BHP.
Rio, the world's largest iron ore miner, took investors by surprise on Thursday when the company announced CEO Jakob Stausholm will step down later this year once a successor is appointed. It gave no reason for the move.
One source familiar with the matter said the board had held meetings on the succession in recent months with the help of executive recruitment firm MWM Consulting, vetting internal candidates including Bold Baatar, Simon Trott and Jerome Pecresse, while looking for external leaders too.
"The next generation of big mining leaders will have to be more aggressive than the last. There's less copper around and they will have to take bigger risks to get it," said one person who consults for top executive appointments in the industry.
Both mining giants are in the midst of changing CEO at a critical juncture as the hunt for copper is crucial due to demand for use in multiple technologies including artificial intelligence and the clean energy transition.
A febrile atmosphere characterised 2024 as diversified miners failed in pulling off big ticket M&A – something both companies might hope to succeed in with new leadership. Among Rio's internal suite of candidates, Singapore-based Baatar, Rio's chief commercial officer, has found some strong support.
"We believe Baatar's communication, portfolio knowledge and problem-solving skills (as showcased during his role at Oyu Tolgoi mine in Mongolia and Simandou mine in Guinea) would prove key in leading Rio," RBC analysts said in a note.
The Mongolian has worked in leadership positions in Rio's marine, iron ore sales and marketing divisions. He joined the Executive Committee in 2016, running the Energy & Minerals product group, before heading its copper division.
Head of iron ore Trott, a more than 20-year veteran at Rio, has brought to market its biggest new iron ore mine in more than a decade, in Australia, and is building out a huge programme of replacement tonnes.
But he has faced pushback from investors because the quality of ore in Rio's exports has dropped during his tenure and has also fallen short of production targets.
OUTSIDE CONTENDERS
Pecresse was appointed head of the aluminium division in October 2023, joining the company from General Electric (GE) Renewable Energy. He worked at Alstom and Imerys prior to that, and is seen internally as a very sharp, but understated leader. His wife is French politician Valerie Pecresse.
Outside contenders include Newmont CEO Tom Palmer, who had also been considered in 2020, and previous OZ Minerals CEO Andrew Cole, both former Rio veterans.
That compares with a very strong internal cadre at BHP, the world's biggest listed miner, where CEO Mike Henry is expected to leave in the next year and a new CEO announced at the same time.
BHP regularly rotates top talent through key roles so it has a depth and breadth of experience to choose from. Internal CEO candidates are mentored for years by the chair and some members of the board, as a sort of pre-screening exercise, a source familiar with the company said.
The company pledged in 2016 to have 40% female staff by 2025, which it is on track to achieve, and its top two contenders are women.
BHP's Australia president Geraldine Slattery is well liked by investors for her operational nous, having previously led the company's petroleum business out of Texas. She has been at BHP for three decades. One investor described her as "steely".
CFO Vandita Pant is seen as a cool head in uncertain geopolitical times, having helped to steer ABN Amro and RBS though the thick of the global financial crisis, the latter where she worked with BHP's new chairman and former RBS CEO Ross McEwan. Pant joined BHP in 2016. A weakness could be her financial, not operational, background, some investors have said.
(Reporting by Melanie Burton and Clara Denina; Editing by Veronica Brown and Susan Fenton)
Freeport-McMoRan Inc. FCX and BHP Group Limited BHP are two heavyweights in the copper mining industry. Both are navigating challenges such as fluctuating copper prices and global economic uncertainties. Given the current uncertainties surrounding the trade tensions and their potential impact on copper prices, analyzing these companies' fundamentals is timely and pertinent.Copper prices surged to a new record high of $5.24 per pound in late March as buyers stocked up the commodity amid concerns that President Donald Trump could impose tariffs on copper, leading to a disruption in the global supply chain. However, prices nosedived to around $4.1 per pound in early April amid demand worries due to tariffs, which threatened to cause a broader slowdown globally. Prices of the red metal moved up in late April to roughly $4.9 per pound amid a weakening U.S. dollar on heightened concerns about the prospect of a downturn in the U.S. economy. Lately, prices have again retreated to around $4.7 per pound on weak global demand and increased supply. The trade conflict continues to pose risks to copper demand, as the metal is essential in various industries, including electronics and construction. Let’s dive deep and closely compare the fundamentals of these two copper miners to determine which one is a better investment option now.
The Case for Freeport
Freeport is well-placed with high-quality copper assets and remains focused on strong execution and advancing its organic growth opportunities. At its Cerro Verde operation in Peru, a large-scale concentrator expansion provided incremental annual production of around 600 million pounds of copper and 15 million pounds of molybdenum. It is evaluating a large-scale expansion at El Abra in Chile to define a large sulfide resource that could potentially support a major mill project similar to the large-scale concentrator at Cerro Verde. FCX is also conducting pre-feasibility studies (expected to be completed in 2026) in the Safford/Lone Star operations in Arizona to define a significant sulfide expansion opportunity. It also has expansion opportunities at Bagdad in Arizona to more than double the concentrator capacity of the operation. Also, PT Freeport Indonesia (PT-FI) substantially completed the construction of the new greenfield smelter in Eastern Java during 2024, with an expected start-up in second-quarter 2025, followed by a full ramp-up by the end of 2025. PT-FI is also developing the Kucing Liar ore body within the Grasberg district with a targeted commencement of production by 2030. Gold production also commenced at the new precious metals refinery in late 2024. Plans are in place to transition PT-FI’s existing energy source from coal to natural gas, which is expected to significantly reduce greenhouse gas emissions at Grasberg.FCX has a strong liquidity position and generates substantial cash flows, which allow it to finance its growth projects, pay down debt and drive shareholder value. It generated operating cash flows of around $1.1 billion in the first quarter of 2025. It has distributed $5 billion to its shareholders through dividends and share purchases since June 30, 2021. Freeport ended the first quarter with strong liquidity, including $4.4 billion in cash and cash equivalents, $3 billion in availability under the FCX revolving credit facility and $1.5 billion in availability under the PT-FI credit facility.FCX offers a dividend yield of roughly 0.8% at the current stock price. Its payout ratio is 22% (a ratio below 60% is a good indicator that the dividend will be sustainable), with a five-year annualized dividend growth rate of 21.8%. Backed by strong financial health, the company's dividend is perceived to be safe and reliable.Despite these positives, weak copper volumes may hurt FCX’s performance. Its copper production declined around 20% year over year to 868 million pounds in the first quarter. Copper sales fell 21% year over year in the quarter, adversely impacted by a major maintenance project in Indonesia. Freeport has provided a tepid consolidated copper volume outlook for 2025, which suggests flat to modestly lower volumes on a year-over-year basis. The lack of growth in copper volumes may affect the company’s performance in 2025. Retreating copper prices are also a concern for FCX. Weaker global manufacturing activities pose risks to copper demand. Copper demand is also likely to remain under pressure at least through the first half under the weight of tariffs.
The Case for BHP
BHP Group continues to strengthen its portfolio to focus on commodities, including copper, that will help it ride on growing global trends such as decarbonization and electrification. It is also making operations more efficient on the back of smart technology adoption across the entire value chain. BHP’s copper output climbed 10% year over year to 1,500 kilotons (kt) for the first nine-month period of fiscal 2025 (ended March 31, 2025). Production at Escondida, the world’s largest copper mine, was up 20% year over year to around 978 kt in the period. BHP expects copper production to be within the range of 1,845-2,045 kt in fiscal 2025, following a 15-year high production of 1,865 kt in fiscal 2024. The guidance indicates 4% growth at the midpoint. At Escondida, the integration of the Full SaL leaching project continues, with the project remaining on track for first production later in fiscal 2025. In Chile, the company has several key projects, which can grow copper production to average roughly 1.4 million tons per annum (Mtpa) through the 2030s. BHP is investing in its 100% owned Copper South Australia asset, focusing on all three operations. The company has announced smelter and refinery expansion at Olympic Dam, which is expected to take BHP’s copper production in South Australia from 322,000 tons in fiscal 2024 to more than 500,000 tons by early 2030s and 650,000 tons by mid-2030s. BHP and Lundin Mining, earlier this year, completed the acquisition of Filo Corp and formed a joint venture, Vicuña Corp., to hold the Filo del Sol and Josemaria copper projects. This will help advance one of the most significant copper discoveries globally in recent decades.BHP also has a 45% interest in the Resolution Copper Project in the United States, one of the largest undeveloped copper projects in the world. BHP expects these projects to deliver more than 2 Mtpa of attributable copper production by the mid-2030s. In fiscal 2024, BHP’s net operating cash flow increased 11% year over year to $20.7 billion as a result of the higher underlying EBITDA. Net operating cash flow was $8.3 billion in the first half of fiscal 2025 (ended Dec. 31, 2024). BHP’s focus on lowering debt is also commendable. Aided by its strong cash flow, the company has reduced its long-term debt level considerably over the past few years. BHP’s net debt was $11.8 billion as of the end of the first half of fiscal 2025, within its target of $5-$15 billion. Its long-term debt-to-capitalization is 26.7% compared with FCX’s 23.4%. BHP also offers a dividend yield of roughly 4% at the current stock price. It has a five-year annualized dividend growth rate of -6.8%.On the flip side, BHP remains hamstrung by higher costs, including higher labor costs. BHP witnessed an effective inflation rate of around 10% in fiscal 2023 and 4% in fiscal 2024, predominantly due to higher labor costs. The continued tightness in the labor market remains a concern. Along with labor costs, some raw material costs, such as ammonia and natural rubber, went up in the first half of fiscal 2025 due to supply issues. Higher overall cost of mining production is expected to weigh on the company’s bottom line.
Price Performance and Valuation of FCX & BHP
The FCX stock is down 25.8% over the past year, while BHP has lost 16% compared with the Zacks Mining – Non Ferrous industry’s decline of 27.2%.
Zacks Investment Research
Image Source: Zacks Investment Research
FCX is currently trading at a forward 12-month earnings multiple of 20.65. This represents a roughly 4.9% premium when stacked up with the industry average of 19.68X.BHP is currently trading at a forward 12-month earnings multiple of 12.19, below FCX and the industry.
Zacks Investment Research
Image Source: Zacks Investment Research
How the Zacks Consensus Estimate Compares for FCX & BHP
The Zacks Consensus Estimate for FCX’s 2025 sales and EPS implies a year-over-year rise of 4.4% and 8.8%, respectively. The EPS estimates for 2025 have been trending lower over the past 60 days.
Zacks Investment Research
Image Source: Zacks Investment Research
The consensus estimate for BHP’s fiscal 2025 sales implies a year-over-year decline of 5.6%. The same for EPS suggests a 2.6% year-over-year increase. The EPS estimates for fiscal 2025 have been trending southward over the past 60 days.
Zacks Investment Research
Image Source: Zacks Investment Research
(Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
FCX or BHP: Which is a Better Pick?
Both FCX and BHP currently have a Zacks Rank #3 (Hold), so picking one stock is not easy. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Both Freeport and BHP present compelling investment cases. FCX is poised to gain from progress in expansion activities that will boost production capacity. Robust financial health allows FCX to invest in growth projects and drive shareholder value. Strong cash generation, investment in growth projects and higher operational efficacy, aided by the adoption of technology, bode well for BHP Group amid headwinds from higher costs. FCX's higher earnings growth projections and healthy dividend growth rate suggest that it may offer better investment prospects in the current market environment. In addition, Freeport’s lower leverage suggests lesser financial risks. Investors seeking exposure to the copper mining space might consider FCX to be the more favorable option at this time.
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This article originally published on Zacks Investment Research (zacks.com).
The Australian market is facing a cautious start today, with the ASX 200 expected to open down by 0.89% amid concerns stemming from U.S. trade issues and recent volatility in global markets. In such uncertain times, investors might find opportunities in penny stocks—smaller or newer companies that can offer unique value propositions despite being an older term for investment areas. This article explores three penny stocks on the ASX that stand out for their financial resilience and potential growth, making them intriguing options for those looking to diversify beyond established names.
Top 10 Penny Stocks In Australia
|
Name |
Share Price |
Market Cap |
Financial Health Rating |
|
Lindsay Australia (ASX:LAU) |
A$0.69 |
A$218.85M |
★★★★☆☆ |
|
CTI Logistics (ASX:CLX) |
A$1.80 |
A$144.98M |
★★★★☆☆ |
|
Accent Group (ASX:AX1) |
A$1.905 |
A$1.15B |
★★★★☆☆ |
|
EZZ Life Science Holdings (ASX:EZZ) |
A$1.56 |
A$73.59M |
★★★★★★ |
|
IVE Group (ASX:IGL) |
A$2.57 |
A$396.25M |
★★★★★☆ |
|
GTN (ASX:GTN) |
A$0.605 |
A$115.6M |
★★★★★★ |
|
Bisalloy Steel Group (ASX:BIS) |
A$3.57 |
A$169.4M |
★★★★★★ |
|
Regal Partners (ASX:RPL) |
A$2.16 |
A$726.11M |
★★★★★★ |
|
Navigator Global Investments (ASX:NGI) |
A$1.725 |
A$845.39M |
★★★★★☆ |
|
Tasmea (ASX:TEA) |
A$2.90 |
A$673.74M |
★★★★★☆ |
Click here to see the full list of 999 stocks from our ASX Penny Stocks screener.
Here we highlight a subset of our preferred stocks from the screener.
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Aurelia Metals Limited is involved in the exploration and production of mineral properties in Australia, with a market cap of A$524.70 million.
Operations: The company’s revenue is primarily derived from its mining operations, with A$5.98 million from the Hera Mine, A$245.13 million from the Peak Mine, and A$73.90 million from the Dargues Mine.
Market Cap: A$524.7M
Aurelia Metals has shown a significant turnaround by becoming profitable recently, with net income of A$17.95 million for the half year ending December 2024, compared to a prior net loss. The company’s operating cash flow covers its debt well, highlighting strong financial management. However, its Return on Equity remains low at 4.3%, and interest payments are not fully covered by EBIT. Despite these challenges, Aurelia’s stock is trading significantly below estimated fair value and has not seen meaningful shareholder dilution recently. Recent presentations at industry events may also enhance investor visibility and confidence in future prospects.
ASX:AMI Financial Position Analysis as at May 2025Bravura Solutions
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Bravura Solutions Limited develops, licenses, and maintains software applications for the wealth management and funds administration sectors across Australia, the United Kingdom, New Zealand, and internationally, with a market cap of A$959.36 million.
Operations: Bravura Solutions generates revenue from its software applications for wealth management and funds administration, with significant contributions from Australia, the United Kingdom, New Zealand, and other international markets.
Market Cap: A$959.36M
Bravura Solutions has recently become profitable, supported by a strong balance sheet with no debt and short-term assets exceeding liabilities. The company is trading at a favorable value compared to peers, with a Price-to-Earnings ratio of 13.4x versus the broader Australian market’s 17.9x. Despite this, earnings are forecast to decline over the next three years by an average of 18.3% annually. The board’s inexperience may pose challenges as it adapts to leadership changes following the appointment of an interim CEO in April 2025 after being dropped from the S&P/ASX Emerging Companies Index in March.
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Take a closer look at Bravura Solutions’ potential here in our financial health report.
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Learn about Bravura Solutions’ future growth trajectory here.
ASX:BVS Financial Position Analysis as at May 2025Dimerix
Simply Wall St Financial Health Rating: ★★★★★☆
Overview: Dimerix Limited is an Australian biopharmaceutical company focused on developing and commercializing pharmaceutical products for unmet medical needs, with a market cap of A$339.37 million.
Operations: Dimerix generates revenue primarily from its biotechnology segment, amounting to A$0.74 million.
Market Cap: A$339.37M
Dimerix is a pre-revenue biopharmaceutical company with a market cap of A$339.37 million, focusing on unmet medical needs. Despite its unprofitability and increased losses over the past five years, Dimerix’s recent developments include an exclusive U.S. licensing agreement with Amicus Therapeutics for DMX-200, a Phase 3 drug candidate for FSGS kidney disease. The company’s short-term assets cover both short and long-term liabilities, providing some financial stability despite less than one year of cash runway if free cash flow continues to decline at historical rates. The board and management are considered experienced, which may aid in navigating future challenges.
ASX:DXB Financial Position Analysis as at May 2025Make It Happen
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Click here to access our complete index of 999 ASX Penny Stocks.
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Curious About Other Options? Explore 22 top quantum computing companies leading the revolution in next-gen technology and shaping the future with breakthroughs in quantum algorithms, superconducting qubits, and cutting-edge research.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include ASX:AMI ASX:BVS and ASX:DXB.
This article was originally published by Simply Wall St.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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