As per the norm, the CNBC DISINFO channel is trying to sucker retail baggies into buying gazillions of ultimately WORTHLESS FCX CALL options.
FACT: despite its very positive oil and gas segment, FCX is one of THE MOST OBSCENE STOCK BUBBLES in history, given that it has yet to WRITE OFF its effectively WORTHLESS gold and silver segment.
Since golds and silvers NO longer offer one speck of "flight to safety" value any longer, having FAILED as such during all recent financial storms and international political crises, that makes ALL golds and silvers effectively WORTHLESS---and when is FCX going to take the REQUIRED hit and WRITE DOWN a good chunk of its alleged asset value?????
Until such time, FCX is, at best, a $20 stock masquerading as a 38 buck stock!!!
neil both you and brain are the smartest guys i know and i believe what you both say about copper and fcx and it makes my happier than a pig in #$%$.
lagniappe, a little something extra you say, I think the concern here is the billions spent and lost trying to acquire a little something extra as you put it. JB's swinging for the fences has been anything but lagniappe.
This is no news flash as copper has been down now for about 3-1/2 years and that long since FCX stock was over $60 pps. Over the last 40 years of copper investing the cycles have ranged 3-4 years. The latest inventory drops suggest we will turn the corner much sooner than you predict
KB, sorry to break the Champaign bottle at your party. These people have lost their way - hopefully for not long. When JB becomes OCD ( Blueberry Hill, Davy Jones, Tara - the list goes on), we have thrown money in the billions. Jim Flores hasn't done a thing since being hired by FCX but take cash flow. Make a completion!
Sentiment: Strong Buy
at the very lowest oil will go is 85 and the lowest copper will get i feel is 2.80 a pound and even at this fcx good management will dig us out of debt i am certain.
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We will not know until the Lomond North flow test scheduled for September/October time frame. This onshore well is the key to their onshore ILTC play. A successful commercial flow test in FCX's opinion will validate this emerging onshore ILTC play. Any ILTC offshore successes will be lagniappe. In theory the ILTC gas / NGL play (MMR) will complement/diversify the deep water oily assets acquired through the Plains Exploration purchase. GLTA
You have one of the most unfriendly banks that's rotten to its core and one of the most inept investment firms - enough said. While FCX's next few quarters may not produce the prettiest results they are executing on a plan have a plan that will:
1) Improve cash flow.
2) Reduce 25% Indonesia tax. MOU in place and being address
3) Reduce $20.9B debt to $12B 2016 by selling non-core energy and mine assets.
4) Better diversify the company into oil and Nat gas and focus on Gulf of Mexico growth.
During 2015 they will begin to show results of executing to their plans. Happy collecting dividend long into the future and all of the things they do will be needed long into my retirement and decades beyond.
Yes Brain very surprised with the drop in copper pricing while inventories continue to decline. Hopefully that means the inevitable pop back up in pricing will be stronger than expected. Should be soon.