FCX a Buy?

Investment Analysis Clubs Saul’s Investing Discussions
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Interesting company.
Was a darling about 7 years ago, very volatile, a great stock to trade.

The commodity bubble burst and the bear market in metals began, and by end of 2015 a forgotten
ugly little step child.
Quietly though, it bounced off its bottom and had a great 2016, but still way off it’s highs.

Looking at a chart it seems to be bouncing off some support as the stock price is being hit
by news of a worker strike at one of their mines in Indonesia.

This is a play on copper. If you think China will continue to build, if we are headed into an infrastructure build here, then this might be a great play.

I’m taking advantage of the selloff and expect more volatility.

Any thoughts? Anyone care to join me?

Chris

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Lots of variability in the earnings forecast (by analysts). Has management come out with any sort of forecast as a sanity check?

Looking at high and low forecasts, FCX might be a great deal…. or a lousy one! LOL.

Options prices are pretty attractive is you think it won’t tank and you’re willing to sell puts (and sell calls if put to).

Rob
He is no fool who gives what he cannot keep to gain what he cannot lose.

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https://www.fool.com/investing/2017/02/21/freeport-mcmoran-s…
Deutsche Bank analysts say no and have a pretty good reason
Joe
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Deutsche Bank analysts say no and have a pretty good reason – Joe

My initial reaction on reading your post was “Gee, Deutshce being against it might be a good reason for it.”

Upon reading the article…… yeah, that sounds riskier than even I would accept. Thanks for posting it.

Rob
He is no fool who gives what he cannot keep to gain what he cannot lose.

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I’m probably looking at this as a trade. Bought a bit yesterday. Have another buy in at 13.10

Might buy another third if the price really falters.
If they come to an agreement with miners in Indonesian mine then the price could have a very nice pop.

What I’m most concerned about is the overall market. Seems incredibly frothy, starting to see big volility in leaders like NVDA.

The whole market feels like a top to me.

Chris

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