Carl
Surran, SA News Editor
- Two years after its much criticized $9B purchase of two
energy exploration companies, Freeport McMoRan (NYSE:FCX) is considering
spinning them off or selling a minority stake - although the
company apparently would retain a “significant interest” in any spun-off
entity.
- A possible IPO of stock in the oil and gas business could
take place late this year and would highlight the stand-alone value
of the business, Jim Flores, vice-chairman of FCX and CEO of the company’s
energy business, said in today's earnings conference call.
- "If this is the path that Freeport ultimately
chooses, it clearly indicates that management’s quest to find a strategic
investor in its energy business has not worked,” says Jefferies analyst
Christopher LaFemina.
- In its Q1
results, FCX reported a $3.1B loss for impairment of oil and
gas properties, and said the cash margin in its oil division fell to
$23.45/boe from $58.71 a year ago with revenue slumping by more than half
to $547M from $1.2B.
- FCX's debt - now up to $20.3B - ballooned with its 2013 acquisition of two oil and natural gas producers, as it diversified its business beyond copper, gold and molybdenum mining.
Quelle: bigcharts.com
Quote:
Folgen des Öl- und Kupferpreis-Absturzes: Freeport-McMoRan nimmt drastische Dividenden-Kürzung vor
Link: http://rohstoffaktien.blogspot.de/2015/03/folgen-des-ol-und-kupferpreis-absturzes.html
Quote #2:
Minengigant Freeport-McMoRan wappnet sich für depressive Rohstoffpreise
Link: http://rohstoffaktien.blogspot.de/2015/01/minengigant-freeport-mcmoran-wappnet.html
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