I don't think it's an exaggeration to say that some percentage of Freeport McMoRan (NYSE:FCX) shareholders, or former shareholders, hated the company's decision to acquire
Plains Exploration and McMoRan Exploration. These shares are down about
22% from the time just before the announcement, though miners like BHP Billiton (NYSE:BHP), Rio Tinto (NYSE:RIO), and Southern Copper (NYSE:SCCO) haven't fared dramatically better in what has been a pretty unpleasant market for basic materials stocks.
With the deals done, it's time to get over the disappointment regarding
the oil and gas transactions and just accept Freeport McMoRan for what
it is today – an incrementally more diversified natural resources
company with a hefty amount of debt and high leverage to global economic
growth. Given that I do not believe that the oil & gas properties
will be value-destructive (in total) from this point on and that the
valuation already prices in further copper price erosion, Freeport
McMoRan stock does hold some appeal at these prices.
To read more, please follow this link:
http://www.investopedia.com/stock-analysis/061413/freeport-mcmoran-its-time-get-over-it-and-move-fcx-bhp-rio-scco.aspx
Showing posts with label Southern Copper. Show all posts
Showing posts with label Southern Copper. Show all posts
Friday, June 14, 2013
Monday, December 17, 2012
Investopedia: Is Another Copper Star On The Rise?
It's not all that often that the Street seems to agree on something, but
there is widespread agreement among analysts and investors that Freeport McMoRan's (NYSE:FCX) bids for Plains Exploration (NYSE:PXP) and McMoRan Exploration (NYSE:MMR)
are both bad ideas. Assuming they go through, then, Freeport McMoRan
may find its luster as a copper play dulled. Lucky for investors, then, a
new option may be on the rise.
Continue reading here:
http://www.investopedia.com/
Continue reading here:
http://www.investopedia.com/
Friday, June 3, 2011
Investopedia: Peru's Big Decision
Elections matter in almost every economy, but maybe even more so in Latin America. Several once-promising growth stories have been all but erased in the wake of elections that brought in who promised equality, but delivered little more than shared misery and more corruption. Venezuela is perhaps the best recent example, though there are others. Right now, investors are fretting over what this weekend's election in Peru may hold for the country, its citizens and investors.
More of the Same or a Turn to the Left?
The June 5 election in Peru has come down to a very close contest between Keiko Fujimori and Ollanta Humala. Ms. Fujimori's platform basically represents a "more of the same" continuation of existing policies; policies that have brought a lot of growth to Peru and considerably more economic stability.
Ollanta Humala is more of an unknown quality. A former military officer, Humala fought against Peru's Shining Path (a Maoist insurgency), but also led an unsuccessful military revolt against the government of Alberto Fujimori - Keiko's father and a former President of Peru now in jail for a host of crimes committed during his administration.
To read the complete piece, please click below:
http://stocks.investopedia.
More of the Same or a Turn to the Left?
The June 5 election in Peru has come down to a very close contest between Keiko Fujimori and Ollanta Humala. Ms. Fujimori's platform basically represents a "more of the same" continuation of existing policies; policies that have brought a lot of growth to Peru and considerably more economic stability.
Ollanta Humala is more of an unknown quality. A former military officer, Humala fought against Peru's Shining Path (a Maoist insurgency), but also led an unsuccessful military revolt against the government of Alberto Fujimori - Keiko's father and a former President of Peru now in jail for a host of crimes committed during his administration.
To read the complete piece, please click below:
http://stocks.investopedia.
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