I have been thinking about buying some. The company is solid. Share price seems reasonable right now. Their plans to jump into oil causes me concern as that is a new market for them, but I like what they have done in copper and gold.
tt, I bought 2 loads yesterday this was a typical overreaction by Wall St. in my opinion. According to reports i have read these aquisitions will create 10 Billion of free cash flow for FCX in 2013. To me this is undervalued once the dust settles this will march higher IMHO. Good Luck and stay safe.
TT...good to see your still tradeing. I like it as its cheap and their is much more upside at these levels....the old risk reward is in favor right now. The news about the companies move into oil and gas is readily available
Not I, at least short term. Current domestic oil and gas pricing pressure due to supply and demand issues and possibility of shareholder dilution to retire a portion of the merger costs, not to mention lagging copper and gold prices, will keep me looking for late 2012 to early 2013 payoffs.
gcutter, It depends if it's recent aquisitions turn out to be profitable. I helped build the main pass mine while working as a contractor for McDemott. Wall Sreets take that it doesn't have "any expertise" in oil and gas is not true. The power module alone on that project was the "heaviest lift" in the gulf at that time. There was 8 platforms and a power module set in the gulf with precision and I have no doubt they have the engineering and construction know how to build anything.On the finance end.........debt equity ok, current assets to current liabilities ok, cash flow good, overall finacials.....ok to good.......not a ten bagger unless they really see some unlocked opportunity with their new aquisitions............what storys are you hearing?
GC was waiting for selling exhaustion to expire yesterday didn't pull the trigger yet. Will look to enter next week this is way oversold. The analysts seem confused as Kramer on this one. The wife sent me to the beach today so i didn't trade. Good Luck GC.