$83.80
-1.38 (-1.62%)
Freeport-McMoRan Copper & Gold, Inc. (FCX)
CAPS Rating:
Through its subsidiaries, the Company engages in the exploration, mining, and production of copper, gold, and silver. It also smelts and refines copper concentrates, and markets the refined copper products.
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Vale's $15B capital raising initially got me interested in FCX. Many experts, of which I am not one, think FCX would be a good fit for RIO. Consolidation in this space could raise FCX's share price.
Fundamentally, FCX is not that expensive, trading around 9x forward earnings, which have been growing around 25% yearly. FCX is well capitalized and has a sustainable, healthy 1.4% dividend yield (unlike my basket of regional bank stock underperform picks). The 50% move over the past year has kept me from opening a position with real money, but I still think FCX has room to run. Especially if you belive demand globally (i.e. China/India) is sustainable for the long haul.
A bursting of this so-called commodities market would affect FCX negatively.