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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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gfire77 (72.93) Submitted: 1/24/07 3:29 PM : Start Price: $54.20 FCX Score: -27.42
With its acquisition of Phelps Dodge Freeport becomes, I believe, the #1 publicly traded copper producer. Copper has been hit bad of late but long term the outlook is strong. Freeport generates tremendous cash flow and has an excellent asset with the Grassberg mine in Indonesia - Phelps's assets will diversify its asset base. The stock is real cheap and should be an excellent long term play.
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