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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 0.07
FCX's Cash to Debt is ranked higher than
55% of the 2423 Companies
in the Global Copper industry.

( Industry Median: 6.89 vs. FCX: 0.07 )
FCX' s 10-Year Cash to Debt Range
Min: 0   Max: 1.45
Current: 0.07

0
1.45
Equity to Asset 0.33
FCX's Equity to Asset is ranked higher than
62% of the 1311 Companies
in the Global Copper industry.

( Industry Median: 0.64 vs. FCX: 0.33 )
FCX' s 10-Year Equity to Asset Range
Min: 0.03   Max: 0.5
Current: 0.33

0.03
0.5
F-Score: 4
Z-Score: 1.18
M-Score: -2.21
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry
vs
history
Operating margin (%) 24.92
FCX's Operating margin (%) is ranked higher than
95% of the 1408 Companies
in the Global Copper industry.

( Industry Median: 1.23 vs. FCX: 24.92 )
FCX' s 10-Year Operating margin (%) Range
Min: -71.42   Max: 52.09
Current: 24.92

-71.42
52.09
Net-margin (%) 11.26
FCX's Net-margin (%) is ranked higher than
92% of the 1408 Companies
in the Global Copper industry.

( Industry Median: -2.46 vs. FCX: 11.26 )
FCX' s 10-Year Net-margin (%) Range
Min: -62.19   Max: 25.16
Current: 11.26

-62.19
25.16
ROE (%) 12.25
FCX's ROE (%) is ranked higher than
97% of the 2409 Companies
in the Global Copper industry.

( Industry Median: -8.64 vs. FCX: 12.25 )
FCX' s 10-Year ROE (%) Range
Min: -92.2   Max: 88.7
Current: 12.25

-92.2
88.7
ROA (%) 4.01
FCX's ROA (%) is ranked higher than
94% of the 2450 Companies
in the Global Copper industry.

( Industry Median: -6.51 vs. FCX: 4.01 )
FCX' s 10-Year ROA (%) Range
Min: -34.58   Max: 26.64
Current: 4.01

-34.58
26.64
ROC (Joel Greenblatt) (%) 10.97
FCX's ROC (Joel Greenblatt) (%) is ranked higher than
95% of the 2419 Companies
in the Global Copper industry.

( Industry Median: -8.53 vs. FCX: 10.97 )
FCX' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -58.54   Max: 86.68
Current: 10.97

-58.54
86.68
Revenue Growth (%) 1.30
FCX's Revenue Growth (%) is ranked higher than
77% of the 984 Companies
in the Global Copper industry.

( Industry Median: 1.90 vs. FCX: 1.30 )
FCX' s 10-Year Revenue Growth (%) Range
Min: -2.1   Max: 49.3
Current: 1.3

-2.1
49.3
EBITDA Growth (%) -8.40
FCX's EBITDA Growth (%) is ranked higher than
80% of the 1453 Companies
in the Global Copper industry.

( Industry Median: -12.60 vs. FCX: -8.40 )
FCX' s 10-Year EBITDA Growth (%) Range
Min: -8.4   Max: 58.1
Current: -8.4

-8.4
58.1
EPS Growth (%) -16.30
FCX's EPS Growth (%) is ranked higher than
74% of the 1433 Companies
in the Global Copper industry.

( Industry Median: -12.60 vs. FCX: -16.30 )
FCX' s 10-Year EPS Growth (%) Range
Min: -37.4   Max: 105.1
Current: -16.3

-37.4
105.1
» FCX's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q3 2013

FCX Guru Trades in Q3 2013

David Tepper 1,754,639 sh (New)
Murray Stahl 132,583 sh (New)
Leon Cooperman 2,852,300 sh (New)
Louis Moore Bacon 15,261 sh (New)
Paul Tudor Jones 50,000 sh (+385.44%)
Mario Gabelli 1,585,408 sh (+41.05%)
John Buckingham 149,871 sh (+8.79%)
Pioneer Investments 1,484,016 sh (+0.2%)
John Paulson 15,505,982 sh (unchged)
Steven Cohen 1,988,400 sh (unchged)
Ron Baron 4,537 sh (unchged)
David Tepper 14,215 sh (unchged)
PRIMECAP Management 7,300 sh (unchged)
T Boone Pickens Sold Out
Bill Frels Sold Out
Chris Davis 193,664 sh (-4.77%)
David Dreman 6,566 sh (-10.91%)
Signature Select Canadian Fund 181,550 sh (-27.34%)
Ken Fisher 14,180 sh (-33.46%)
Ray Dalio 123,900 sh (-35.76%)
Steven Cohen 834,731 sh (-67.41%)
Jeremy Grantham 103,800 sh (-84.12%)
» More
Q4 2013

FCX Guru Trades in Q4 2013

Mariko Gordon 17,793 sh (New)
Caxton Associates 41,259 sh (New)
Paul Tudor Jones 97,600 sh (+95.2%)
Ron Baron 7,837 sh (+72.74%)
Ray Dalio 190,185 sh (+53.5%)
David Dreman 7,341 sh (+11.8%)
Leon Cooperman 2,900,800 sh (+1.7%)
Pioneer Investments 1,500,782 sh (+1.13%)
Jeremy Grantham 104,900 sh (+1.06%)
Steven Cohen 250,000 sh (unchged)
PRIMECAP Management 7,300 sh (unchged)
Steven Cohen Sold Out
John Paulson 15,501,382 sh (-0.03%)
Mario Gabelli 1,579,874 sh (-0.35%)
Murray Stahl 132,051 sh (-0.4%)
John Buckingham 148,836 sh (-0.69%)
Louis Moore Bacon 14,582 sh (-4.45%)
Ken Fisher 13,436 sh (-5.25%)
Chris Davis 176,497 sh (-8.86%)
David Tepper 1,128,056 sh (-35.71%)
» More
Q1 2014

FCX Guru Trades in Q1 2014

Steven Cohen 38,430 sh (New)
Louis Moore Bacon 64,582 sh (+342.89%)
Ray Dalio 368,085 sh (+93.54%)
John Buckingham 166,175 sh (+11.65%)
Leon Cooperman 2,986,000 sh (+2.94%)
Paul Tudor Jones 50,000 sh (unchged)
Ron Baron 7,837 sh (unchged)
PRIMECAP Management 7,300 sh (unchged)
Caxton Associates Sold Out
Signature Select Canadian Fund Sold Out
David Tepper Sold Out
Mariko Gordon Sold Out
Chris Davis 176,464 sh (-0.02%)
Pioneer Investments 1,498,051 sh (-0.18%)
Mario Gabelli 1,513,274 sh (-4.22%)
David Dreman 6,918 sh (-5.76%)
Ken Fisher 11,596 sh (-13.69%)
John Paulson 10,123,500 sh (-34.69%)
Paul Tudor Jones 54,000 sh (-44.67%)
Jeremy Grantham 43,800 sh (-58.25%)
Murray Stahl 35,764 sh (-72.92%)
» More
Q2 2014

FCX Guru Trades in Q2 2014

George Soros 139,781 sh (New)
Ron Baron 11,237 sh (+43.38%)
David Dreman 9,598 sh (+38.74%)
Ken Fisher 12,840 sh (+10.73%)
Murray Stahl 37,670 sh (+5.33%)
John Buckingham 167,487 sh (+0.79%)
Chris Davis 176,464 sh (unchged)
PRIMECAP Management 7,300 sh (unchged)
Jeremy Grantham Sold Out
Mario Gabelli 1,489,174 sh (-1.59%)
Ray Dalio 305,185 sh (-17.09%)
Leon Cooperman 2,420,600 sh (-18.94%)
Louis Moore Bacon 50,000 sh (-22.58%)
Pioneer Investments 838,979 sh (-44%)
John Paulson 5,300,000 sh (-47.65%)
Paul Tudor Jones 8,800 sh (-83.7%)
» More
» Details

Insider Trades

Latest Guru Trades with FCX

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
John Paulson 2014-06-30 Reduce -47.65%0.76%$32.56 - $36.07 $ 30.8-10%5300000
Leon Cooperman 2014-06-30 Reduce -18.94%0.25%$32.56 - $36.07 $ 30.8-10%2420600
George Soros 2014-06-30 New Buy0.04%$32.56 - $36.07 $ 30.8-10%139781
David Dreman 2014-06-30 Add 38.74%0.01%$32.56 - $36.07 $ 30.8-10%9598
Ron Baron 2014-06-30 Add 43.38%$32.56 - $36.07 $ 30.8-10%11237
John Paulson 2014-03-31 Reduce -34.69%1.01%$30.64 - $37.74 $ 30.8-8%10123500
David Tepper 2014-03-31 Sold Out 0.53%$30.64 - $37.74 $ 30.8-8%0
Ray Dalio 2014-03-31 Add 93.54%0.05%$30.64 - $37.74 $ 30.8-8%368085
Mariko Gordon 2014-03-31 Sold Out 0.03%$30.64 - $37.74 $ 30.8-8%0
David Tepper 2013-12-31 Reduce -35.71%0.33%$32.88 - $37.68 $ 30.8-13%1128056
Mariko Gordon 2013-12-31 New Buy0.03%$32.88 - $37.68 $ 30.8-13%17793
Ray Dalio 2013-12-31 Add 53.5%0.02%$32.88 - $37.68 $ 30.8-13%190185
Ron Baron 2013-12-31 Add 72.74%$32.88 - $37.68 $ 30.8-13%7837
Leon Cooperman 2013-09-30 New Buy1.4%$27.34 - $34.6 $ 30.81%2852300
David Tepper 2013-09-30 New Buy0.92%$27.34 - $34.6 $ 30.81%1754639
T Boone Pickens 2013-09-30 Sold Out 0.49%$27.34 - $34.6 $ 30.81%0
Mario Gabelli 2013-09-30 Add 41.05%0.09%$27.34 - $34.6 $ 30.81%1585408
Ray Dalio 2013-09-30 Reduce -35.76%0.02%$27.34 - $34.6 $ 30.81%123900
Ken Fisher 2013-09-30 Reduce -33.46%$27.34 - $34.6 $ 30.81%14180
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Guru Investment Theses on Freeport-McMoRan Inc

Columbia Management Comments on Freeport McMoRan - Jan 23, 2013

We continue to have a positive view of industrials (and materials) companies. Relative underperformance in the materials sector was largely driven by new portfolio holding Freeport McMoRan (FCX). Freeport McMoRan is the world's largest publicly traded copper company; we added the stock to the portfolio in October. The company has global reserves of copper, gold and other metals, a strong balance sheet, and, despite weakness in the global economy, generates significant free-cash-flow, even at lower copper prices. Freeport McMoRan shares fell during the quarter after the company announced the acquisition of an oil and gas company. (Investors would have preferred that the company remain focused on copper and metals.) We believe the long-term demand for metals remains positive, particularly from China and Asia, where large infrastructure projects continue to move forward, and expect Freeport McMoRan to recover as it returns to trading in line with the price of copper.

From Columbia Wanger’s fourth quarter commentary.


Check out Columbia Wanger latest stock trades

Top Ranked Articles about Freeport-McMoRan Inc

Guru Favorites Top GuruFocus Dividend Growers of the Week
During the past week, GuruFocus recognized four companies as dividend growers. In order to be qualified for this list, the company had to:Have a dividend of greater than 3%. Have a strong history of stable and increasing dividends. Maintain Guru ownership. Have a market cap of greater than $10 billion.The following four companies come from various industries and sectors of the market, but they all fit the necessary criteria needed to qualify them as dividend growers.A comparison of the companies’ historical dividend growth:AT&T (T)On June 27, AT&T declared a dividend of $0.46 per share, representing 5.20% dividend yield for the company. This dividend is payable on August 1 to shareholders of the record at the close of business on July 1, 2014.

The company’s historical dividend growth is as follows:- 10-year: 4.40%- 5-year: 2.30%- 3-year: 2.30%AT&T is a communications holding company. Its subsidiaries and affiliates are the providers of AT&T services in the U.S. and internationally. The company holds a portfolio of the nation’s fastest and most reliable 4G LTE network, wireless internet, Wi-Fi and voice and cloud-based services.AT&T’s historical revenue and net income:The analysis on AT&T reports that the company’s price is near a 5-year high, it has issued $12.6 billion in debt over the past three years and its operating income has been in loss over the past three years. On the other hand the analysis also notes that the Piotroski F-Score is high, its dividend yield is near a 2-year high and its P/E, P/S and P/B ratios are all trading at around historical lows.The Peter Lynch Chart suggests that the company is currently undervalued:AT&T has a market cap of $184.3 billion. Its shares are currently trading at around $35.51 with a P/E ratio of 10.40 and a P/S ratio of 1.50. The company had an annual average earnings growth of 4.10% over the past ten years.Lockheed Martin (LMT)On June 26, Lockheed Martin declared a dividend of $1.33 per share, representing 3.20% dividend yield for the company. This dividend is payable on Sept. 26 to shareholders of the record at the close of business on Sept. 2, 2014.

The company’s historical dividend growth is as follows:- 10-year: 20.90%- 5-year: 20.70%- 3-year: 21.90%Lockheed Martin is a security company that is principally engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems and products. It also provides a range of management, engineering, technical, scientific, logistic, and information services.Lockheed Martin’s historical revenue and earnings growth:The analysis on Lockheed Martin reports that the company’s revenue has been in decline over the past month, its dividend yield is near a 3-year low and its price is near a 10-year high.The Peter Lynch Chart suggests that the company is currently overvalued:Lockheed Martin has a market cap of $51.02 billion. Its shares are currently trading at around $160.75 with a P/E ratio of 16.50, a P/S ratio of 1.20 and a P/B ratio of 10.50. The company had an annual average earnings growth of 9.90% over the past ten years.GuruFocus rated Lockheed Martin the business predictability rank of 3-star.Pfizer (PFE)On June 26, Pfizer declared a dividend of $0.260 per share, representing 3.40% dividend yield for the company. This dividend is payable on Sept. 3 to shareholders of the record at the close of business on Aug. 1, 2014.

The company’s historical dividend growth is as follows:- 10-year: 1.20%- 5-year: 5.80%- 3-year: 10.10%Pfizer is a global pharmaceutical firm which develops and produces medicines and vaccines for a range of conditions which include areas of immunology, inflammation, oncology, cardiovascular and metabolic diseases, neuroscience and pain.Pfizer’s historical revenue and net income:The analysis on Pfizer reports that the company’s revenue has been in decline over the past year, the dividend yield is near a 5-year low, the price is near a 5-year high and its operating margin is expanding.The Peter Lynch Chart suggests that the company is currently undervalued:Pfizer has a market cap of $192.19 billion. Its shares are currently trading at around $30.13 with a P/E ratio of 9.60, a P/S ratio of 4.00 and a P/B ratio of 2.70. The company had an annual average earnings growth of 3.40% over the past ten years.GuruFocus rated Pfizer the business predictability rank of 3-star.Freeport-McMoRan Copper & Gold (FCX)On June 25, Freeport-McMoRan declared a dividend of $0.313 per share, representing 3.40% dividend yield for the company. This dividend is payable on Aug. 1 to shareholders of the record at the close of business on July 15, 2014.

The company’s historical dividend growth is as follows:- 10-year: 0.00%- 5-year: 0.00%- 3-year: 40.60%Freeport-McMoRan is a U.S.-based natural resource company with an industry leading global portfolio of mineral assets, significant oil and gas resources and a growing production profile.Freeport-McMoRan’s historical revenue and net income:The analysis on Freeport-McMoRan reports that the company’s asset growth is faster than its revenue growth and its P/S ratio is close to a 2-year low.The Peter Lynch Chart shows that the company is currently undervalued:Freeport-McMoRan Copper & Gold has a market cap of $38.43 billion. Its shares are currently trading at around $37.00 with a P/E ratio of 15.10, a P/S ratio of 1.80 and a P/B ratio of 1.50. The dividend yield for the company is currently sitting at 3.40%.To view a complete list of high yielding dividend stocks found among the gurus’ portfolios, click here.

Try a free 7-day premium membership. Read more...
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One of the greatest hedge fund investors of all time, David Tepper is the president and founder of hedge fund Appaloosa Management where he has earned a global reputation for producing some of the highest returns ever on Wall Street. Tepper’s windfalls have been made in banking, housing, and power companies, as well as on the bankruptcies of giants like Enron and others. A renowned philanthropist, Tepper has earned the moniker of “the true alpha” investor, claiming fame for a historical record payday of $4 billion in 2009. Tepper personally made $2.2 billion in 2012. As of September 2013, Tepper had a net worth of $7.9 billion, according to Forbes, also naming Tepper as the highest-earning among the top 40 hedge fund managers and traders in 2013. Read more...
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Hedge fund manager David Tepper returned 16.8% in the first half of 2013, bringing his net annualized 20-year return to 28%. His $17 billion hedge fund Appaloosa Management in the third quarter reported that he purchased five new holdings, for a total of 64 stocks in his $6.28 billion portfolio. Tepper has placed 21.6% of his portfolio in ETF, options and preferred stocks as the largest sector represented, followed by 18.6% in industrials and 18.6% in financial services. Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 12.70
FCX's P/E(ttm) is ranked higher than
96% of the 2609 Companies
in the Global Copper industry.

( Industry Median: 9999.00 vs. FCX: 12.70 )
FCX' s 10-Year P/E(ttm) Range
Min: 2.71   Max: 77.08
Current: 12.7

2.71
77.08
P/B 1.50
FCX's P/B is ranked higher than
66% of the 2609 Companies
in the Global Copper industry.

( Industry Median: 1.28 vs. FCX: 1.50 )
FCX' s 10-Year P/B Range
Min: 0.45   Max: 114.17
Current: 1.5

0.45
114.17
P/S 1.43
FCX's P/S is ranked higher than
87% of the 2609 Companies
in the Global Copper industry.

( Industry Median: 9999.00 vs. FCX: 1.43 )
FCX' s 10-Year P/S Range
Min: 0.41   Max: 3.99
Current: 1.43

0.41
3.99
EV-to-EBIT 9.79
FCX's EV-to-EBIT is ranked higher than
96% of the 2609 Companies
in the Global Copper industry.

( Industry Median: 9999.00 vs. FCX: 9.79 )
FCX' s 10-Year EV-to-EBIT Range
Min: -3.5   Max: 27.7
Current: 9.79

-3.5
27.7
Current Ratio 1.36
FCX's Current Ratio is ranked higher than
68% of the 2430 Companies
in the Global Copper industry.

( Industry Median: 2.46 vs. FCX: 1.36 )
FCX' s 10-Year Current Ratio Range
Min: 0.87   Max: 5.06
Current: 1.36

0.87
5.06
Quick Ratio 0.65
FCX's Quick Ratio is ranked higher than
63% of the 2426 Companies
in the Global Copper industry.

( Industry Median: 1.84 vs. FCX: 0.65 )
FCX' s 10-Year Quick Ratio Range
Min: 0.24   Max: 3.6
Current: 0.65

0.24
3.6

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 4.10
FCX's Dividend Yield is ranked higher than
75% of the 635 Companies
in the Global Copper industry.

( Industry Median: 2.17 vs. FCX: 4.10 )
FCX' s 10-Year Dividend Yield Range
Min: 0.17   Max: 10.8
Current: 4.1

0.17
10.8
Dividend Payout 0.52
FCX's Dividend Payout is ranked higher than
97% of the 2609 Companies
in the Global Copper industry.

( Industry Median: 9999.00 vs. FCX: 0.52 )
FCX' s 10-Year Dividend Payout Range
Min: 0.08   Max: 45
Current: 0.52

0.08
45
Dividend growth (3y) 40.60
FCX's Dividend growth (3y) is ranked higher than
95% of the 434 Companies
in the Global Copper industry.

( Industry Median: 9.90 vs. FCX: 40.60 )
FCX' s 10-Year Dividend growth (3y) Range
Min: 0   Max: 66.7
Current: 40.6

0
66.7
Yield on cost (5-Year) 4.10
FCX's Yield on cost (5-Year) is ranked higher than
66% of the 653 Companies
in the Global Copper industry.

( Industry Median: 2.80 vs. FCX: 4.10 )
FCX' s 10-Year Yield on cost (5-Year) Range
Min: 0.17   Max: 10.8
Current: 4.1

0.17
10.8
Share Buyback Rate -2.00
FCX's Share Buyback Rate is ranked higher than
90% of the 1952 Companies
in the Global Copper industry.

( Industry Median: -10.20 vs. FCX: -2.00 )
FCX' s 10-Year Share Buyback Rate Range
Min: 7.7   Max: -29
Current: -2

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 1.63
FCX's Price/Tangible Book is ranked higher than
78% of the 2609 Companies
in the Global Copper industry.

( Industry Median: 1.60 vs. FCX: 1.63 )
FCX' s 10-Year Price/Tangible Book Range
Min: 1.59   Max: 106.19
Current: 1.63

1.59
106.19
Price/DCF (Projected) 0.88
FCX's Price/DCF (Projected) is ranked higher than
96% of the 2609 Companies
in the Global Copper industry.

( Industry Median: 9999.00 vs. FCX: 0.88 )
FCX' s 10-Year Price/DCF (Projected) Range
Min: 0.35   Max: 25.94
Current: 0.88

0.35
25.94
Price/Median PS Value 0.65
FCX's Price/Median PS Value is ranked higher than
92% of the 2609 Companies
in the Global Copper industry.

( Industry Median: 9999.00 vs. FCX: 0.65 )
FCX' s 10-Year Price/Median PS Value Range
Min: 0.27   Max: 1.74
Current: 0.65

0.27
1.74
Price/Graham Number 0.84
FCX's Price/Graham Number is ranked higher than
96% of the 2609 Companies
in the Global Copper industry.

( Industry Median: 9999.00 vs. FCX: 0.84 )
FCX' s 10-Year Price/Graham Number Range
Min: 0.6   Max: 8.25
Current: 0.84

0.6
8.25
Earnings Yield (Greenblatt) 10.20
FCX's Earnings Yield (Greenblatt) is ranked higher than
81% of the 745 Companies
in the Global Copper industry.

( Industry Median: 7.30 vs. FCX: 10.20 )
FCX' s 10-Year Earnings Yield (Greenblatt) Range
Min: 3.6   Max: 36.2
Current: 10.2

3.6
36.2
Forward Rate of Return (Yacktman) 6.30
FCX's Forward Rate of Return (Yacktman) is ranked higher than
94% of the 2012 Companies
in the Global Copper industry.

( Industry Median: -14.67 vs. FCX: 6.30 )
FCX' s 10-Year Forward Rate of Return (Yacktman) Range
Min: 0.1   Max: 80.2
Current: 6.3

0.1
80.2

Business Description

Industry: Metals & Mining » Copper
Compare:SCCO, OZMLY, SFRRF, IPLRF, AZC » details
Traded in other countries:FPMB.Germany, FCXO34.Brazil, FCX.Mexico, FCX.Chile
Freeport-McMoRan Copper & Gold was incorporated under the laws of the state of Delaware on November 10, 1987. The Company deals in the mining of copper, gold and molybdenum. Its portfolio of assets includes the Grasberg minerals district in Indonesia, significant mining operations in North and South America, and the Tenke Fungurume minerals district in the Democratic Republic of Congo (DRC). The Grasberg minerals district contains the single recoverable copper reserve and the single gold reserve of any mine in the world based on the latest available reserve data provided by third-party industry consultants. At December 31, 2011, consolidated recoverable proven and probable reserves totaled 119.7 billion pounds of copper, 33.9 million ounces of gold, 3.42 billion pounds of molybdenum, 330.3 million ounces of silver and 0.86 billion pounds of cobalt. Approximately 34 percent of its copper reserves are in North America, 33 percent are in South America, 26 percent are in Indonesia and 7 percent are in Africa. Approximately 95 percent of its gold reserves are in Indonesia, with its remaining gold reserves primarily in South America. Approximately 79 percent of its molybdenum reserves are in North America, with its remaining molybdenum reserves in South America. It operates four copper mines in South America - Cerro Verde in Peru, and El Abra, Candelaria and Ojos del Salado in Chile. In addition to copper, the Cerro Verde mine also produces molybdenum concentrates, and the Candelaria and Ojos del Salado mines produce gold and silver. n Indonesia, PT Freeport Indonesia operates the mines in the Grasberg minerals district. In addition to copper, the Grasberg minerals district also produces significant quantities of gold and silver. In Africa, Tenke Fungurume Mining S.A.R.L. (TFM) operates the mine in the Tenke Fungurume minerals district (the Tenke mine). In addition to copper, Tenke produces cobalt hydroxide. During 2011, 34 percent of its consolidated copper production was from North America, 35 percent from South America, 23 percent from Grasberg and 8 percent from Tenke. The Grasberg minerals district also accounted for 92 percent of its consolidated gold production for 2011. It produces molybdenum at its Henderson molybdenum mine in Colorado. During 2011, 46 percent of its consolidated molybdenum production was from the Henderson molybdenum mine, 42 percent was produced at certain of its North America copper mines and 12 percent was produced at its Cerro Verde copper mine.
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Guru Favorites Make Up For Top Dividend Growers of the Week Sep 30 2014 
Freeport McMoRan's Improving Business Makes It a Smart Investment Sep 26 2014 
Here's Why Freeport-McMoRan Can Improve in the Future Sep 23 2014 
Invest in This Stock to Benefit From Copper Growth Aug 27 2014 
Why Should You Sell Freeport-McMoRan? Aug 27 2014 
Freeport Is A Strong Turnaround Story Aug 02 2014 
Sesa Sterlite: Undervalued In Positive Environment Jul 19 2014 
Apache: Focus On North America Is Value Creating Jul 14 2014 
Guru Favorites Top GuruFocus Dividend Growers of the Weeks Jul 01 2014 
Value Investing With Freeport-McMoRan Jun 21 2014 

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McClendon Said to Weigh Bid for Freeport’s California Assets Oct 08 2014
Why Freeport-McMoRan (FCX) Stock Is Down Today Oct 08 2014
Freeport's Indonesia copper mine must improve safety or face more protests - union Oct 08 2014
Freeport LNG CEO Sees Public Offering for Gas Export Company Oct 07 2014
FREEPORT-MCMORAN INC Files SEC form 8-K, Entry into a Material Definitive Agreement, Other Events,... Oct 07 2014
Freeport (FCX) to Sell Stake in Candelaria Mine to Lundin Oct 07 2014
Lundin Mining buys Chilean copper unit from Freeport-McMoRan Oct 07 2014
Canada Stocks to Watch: Lundin Mining, Franco-Nevada and more Oct 07 2014
[$$] Freeport to Sell Its Stake in Chile Copper Mine for $1.8 Billion Oct 06 2014
Canada miner Lundin doubles down on copper with Chilean buy Oct 06 2014
Freeport-McMoRan selling 80 pct. of stake in mine Oct 06 2014
Freeport-McMoRan selling 80 pct. of stake in mine Oct 06 2014

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