Freeport-McMoRan

Halal Rating :
Comfortable
Last Price $38.3
Market Cap $54.92b
1D Change

2.02 %

1 Year Change

-3.89 %

Next Earnings Date

Yet to be announced

Company Overview

Freeport-McMoRan Inc. is one of the world's largest publicly traded copper producers, with significant gold and molybdenum mining operations. The company operates large, long-lived geographically diverse assets with significant proven and probable reserves of copper, gold, and molybdenum. Their major operations include the Grasberg minerals district in Indonesia, mining operations in North and South America, and the Cerro Verde copper mine in Peru.

Revenue Sources

Pass

Based on review of Freeport-McMoRan's financial statements and business operations, the company's primary revenue sources come from mining and selling copper, gold, and molybdenum. These are permissible activities from an Islamic finance perspective as they involve the extraction and sale of real assets.

Reliance on Interest

Reporting Date Total Revenue Total Expense Interest Income Interest Expense Interest Income Ratio Interest Expense Ratio
Sept. 30, 2024 $6.79b $4.92b - $72.0m 0.00% 1.46%
June 30, 2024 $6.62b $4.66b - $88.0m 0.00% 1.89%
March 31, 2024 $6.32b $4.78b - $89.0m 0.00% 1.86%
Dec. 31, 2023 $5.91b $4.28b - $97.0m 0.00% 2.27%

Analyzing the last four quarters: Interest expense ranged from $72-97 million per quarter while total expenses ranged from $4.28-4.92 billion per quarter. Interest expense consistently represented less than 2% of total expenses. The company does not report any interest income.

Operational Ethics

Pass

While Freeport-McMoRan operates globally, including in various challenging jurisdictions, review of their operations and partnerships does not indicate substantial ongoing ties with entities involved in systematic human rights violations. Their operations comply with international standards and they maintain transparency in their dealings.

Rating Justification

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