Freeport-McMoRan Copper & Gold, Inc. (NYSE:FCX)

increased position- long, gold prices up, metals and mining copper will rally

Demand for copper worldwide increasing.

copper going up gold up silver up the economey sucks

It's all about Power!

FCX has had a great run up to its current 63 point level. So, is it time to take a little off the table? I don't think so. The reason is, the run up has been while the wolrd's econmy has been struggling along. The trillions in world-wide stimulous will kick in over the next 6-9 months. This stimulous will cause copper to increase by 50-100%. FCX has been working hard to squeeze cost out of their enviornment. So, when copper finally goes up, the extra revenue will flow nicely to the bottom line.

The net result - FCX could be a $120 stock in the next 12-18 months.

Materials will be required for global grow.

I bought this in my actual portfolio back in its $16 stage. Unfortunately, I sold it after it reached $25-ish. How could I have been so stupid? Freeport was such an incredible deal, and it is still at a bit of a bargain. If you have the extra capital laying around, buy FCX when it drops down back to $45-ish, I guarantee a profit of some sort. I advised my dad to buy it after I bought it, but he decided to play it safe; he ultimately missed out on a $50,000 gain in the past 3 1/2 months. Yikes!

Guaranteed

Another miner - will explode when inflation hits.

I think now is the time to buy this stock.

Recession will inevitably end and demand for copper will go back up.

#22 Worst Toxic Polluter
http://www.peri.umass.edu/toxic100_index/

coper is hoarded by china

The recent Bear Market Rally has lulled many into a false sense of optimism over the near-term. The worst is yet to come....gold is king.

And they smote the rock, and the ground opened before them, and behold the precious. (and as inflation rears her ugly head, you can't get on too late in teh near term.)

economic recovery

As several posts have stated, copper prices drive FCX's value, and copper is truly as good an indicator of economic activity as any. However, it is very difficult to judge the short term future.

Copper is way ahead of economic activity right now for two reasons. First, the tremendous drop in copper prices reflected a very very large inventory depletion late last year when demand tanked and inventory skyrocketed. However, FCX and other producers cut production dramatically and inventories have depleted nicely. Second, China (which now seems to be the most insightful and successful country in the world in responding to the economic crisis) has used this reverse-bubble to accumulate stocks of copper.

I don't have enough data right now to estimate how these factors come together to determine supply-demand balance in the short run, although I can't see another drop in copper prices like last year's Q4 since there is no inventory overhang. On the other hand, I don't know how far along China is in accumulating their stockpile, so I don't know how much of a demand decline we could see and when we may see it.

On the other hand, I believe the 3-5 year outlook is crystal clear. As the CEO of FCX stated, there have been NO new major sources of copper discovered anywhere in the world for years and years. With the continued development of China and India, even a permanent slowdown in the economies of the developed countries will leave us with a supply-demand imbalance, since the improved techniques which have allowed existing mines to improve the efficiency of extraction are now showing decreasing effectiveness in further gains. Thus, I not only expect copper prices to regain the level of mid 2008, but to go beyond that. That means a 2-3 X increase from current levels. With FCX's moves in Q4, they reduced their costs of extraction considerably, so I expect they will also increase margins. I cannot see how they will not blow through last year's high of 127 (which will be at a PE of less than 20 for a company doubling earnings each year), and I don't think 200 will be beyond the range of the possible.

I am sure I will be trashed by the doom-sayers for my assessment. If I can find the time, I will do the detailed work to support my contentions and post it.

[ Copper is reaching it peak for the season. Copper inventories have risen over the past few month. Bloomberg News. ]

Dollar has been falling recently but I think it time for some reverse action [short term outlook]

I believe in all our minerals on this earth ,I moved here from Arizona and there was a copper mine alittle ways away from us and it was going strong everyday.