$FCX Copper/US Infrastructure Play

Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals FCX ($38.73) is trading below an estimate of fair value ($96.86) equating into a 60% upside potential. Reducing Debt: FCX's debt to equity ratio has reduced from 212.3% to 45.2% over the past 5 years. Debt Coverage: FCX's debt is well covered by operating cash flow (63.7%). Interest Coverage: FCX's interest payments on its debt are well covered by EBIT (9.6x coverage). Earnings Trend: FCX has become profitable over the past 5 years, growing earnings by 51.8% per year. At the end of the first quarter, a total of 68 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 11% from the fourth quarter of 2020. Fisher Asset Management has a $1.4588 billion position in the stock. The second most bullish fund manager is Lansdowne Partners, led by Suzi Nutton (CEO), holding a $223.3 million position Freeport-McMoRan (NYSE:FCX) is primarily known for its significant copper mining operations, the resource giant also has a fair influx of gold as well. In fact, its Grasberg mine in Indonesia holds of the world's largest deposits of copper and gold. But that’s just scratching the surface of the miner’s global assets. Freeport-McMoRan also has extensive operations across the Americas, including mines in Arizona, Mexico and Peru. Though its business struggled as global demand for copper took a hit, panic-buying from China has lifted prices higher in recent months – and that’s good news for Freeport-McMoRan. In addition to climbing copper prices, gold prices hit record levels, which will add even more to the mining giant’s bottom line. Base metals got a lift late Tuesday after the U.S. Senate passed an infrastructure package that could boost demand for metals. Copper ended 1.5% higher Tuesday, while shares of miners such as Alcoa and Freeport-McMoRan rose over 8% and over 4%, respectively.

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$FCX Copper/US Infrastructure Play

Aug 12, 2021

bullish

general Analysis

[1 min Read]

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Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals

FCX ($38.73) is trading below an estimate of fair value ($96.86) equating into a 60% upside potential.

Reducing Debt: FCX's debt to equity ratio has reduced from 212.3% to 45.2% over the past 5 years.

Debt Coverage: FCX's debt is well covered by operating cash flow (63.7%).

Interest Coverage: FCX's interest payments on its debt are well covered by EBIT (9.6x coverage).

Earnings Trend: FCX has become profitable over the past 5 years, growing earnings by 51.8% per year.

At the end of the first quarter, a total of 68 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 11% from the fourth quarter of 2020.

Fisher Asset Management has a $1.4588 billion position in the stock. The second most bullish fund manager is Lansdowne Partners, led by Suzi Nutton (CEO), holding a $223.3 million position

Freeport-McMoRan (NYSE:FCX) is primarily known for its significant copper mining operations, the resource giant also has a fair influx of gold as well. In fact, its Grasberg mine in Indonesia holds of the world's largest deposits of copper and gold. But that's just scratching the surface of the miner's global assets. Freeport-McMoRan also has extensive operations across the Americas, including mines in Arizona, Mexico and Peru. Though its business struggled as global demand for copper took a hit, panic-buying from China has lifted prices higher in recent months - and that's good news for Freeport-McMoRan. In addition to climbing copper prices, gold prices hit record levels, which will add even more to the mining giant's bottom line.

Base metals got a lift late Tuesday after the U.S. Senate passed an infrastructure package that could boost demand for metals. Copper ended 1.5% higher Tuesday, while shares of miners such as Alcoa and Freeport-McMoRan rose over 8% and over 4%, respectively.

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FCX

Freeport-McMoRan Inc.

30.94

-0.05
-0.16%

Return

-18.44%
Change % Since Posting
-7.00
Change Since Posting
37.94
Price When Posted

Metrics

96.86
Target Price
9/ 10
Confidence
2-6 Months
Timeframe
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Earnings Release
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News
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SEC
Filing
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Sentiment
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