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Freeport-mcmoran Copper & Gold, Inc. (FCX) [hlAlert]

Rating:
Buy FCX
down 73.55 %

Barron's Favorite Stocks for 2012 - Freeport McMoRan

Posted on: Thursday,  Jan 3, 2013  1:27 AM ET by Barron's favorite stocks for 2012

Barron's favorite stocks for 2012 rated Buy Freeport-mcmoran Copper & Gold, Inc. (NYSE: FCX) on 12/12/2011, when the stock price was
$38.54. Since then, Freeport-mcmoran Copper & Gold, Inc. has lost 73.56% as of 12/10/2015's recent price of $10.19.
If you would have followed this Barron's favorite stocks for 2012's recommendation on FCX, you would have lost 73.55% of your investment in 1459 days.

Freeport-McMoran Copper & Gold Inc. (FCX), through its wholly owned subsidiary, Phelps Dodge Corporation (Phelps Dodge) is a copper, gold and molybdenum mining company. The Company?s portfolio of assets includes the Grasberg minerals district in Indonesia, which contains single recoverable copper reserve and the single gold reserve of any mine; significant mining operations in North and South America, and the Tenke Fungurume development project in the Democratic Republic of Congo (DRC). As of December 31, 2008, consolidated recoverable proven and probable reserves totaled 102.0 billion pounds of copper, 40 million ounces of gold, 2.48 billion pounds of molybdenum, 266.6 million ounces of silver and 0.7 billion pounds of cobalt. Approximately 35 % of its copper reserves were in Indonesia, approximately 31 % were in South America, approximately 28 % were in North America and approximately six % were in Africa.

After a volatile year, stocks are heading into the homestretch about where they began. The benchmark Standard & Poor's 500 Index finished the week at 1255, within a percentage point of where it started the year. The Dow Jones Industrial Average is up 5% in 2011, largely reflecting the strength of a single stock, IBM (ticker: IBM), which has risen 32% to 194 and dominates the price-weighted index owing to its lofty absolute share price. Most equity strategists are optimistic at best about 2012. They're worried that earnings growth and strong corporate balance sheets will be offset, in investors' minds, by the tough economic backdrop and the European debt crisis. Barry Knapp, Barclays Capital's chief market strategist, recently set an S&P 500 target of 1330, 6% above Friday's close. He expects a "difficult" first half followed by a second-half rally. The important offset to the economic and political situation is valuation. U.S. stocks look reasonably priced, especially with 10-year Treasuries yielding 2% and short-term rates near zero. The S&P 500 is valued at 13 times projected 2011 profits and about 12 times next year's projected earnings. Bulls cite the combination of attractive valuations and super-low rates. "I feel like a kid in a candy store…I don't know where to begin," said Joe Rosenberg, chief investment strategist at Loews, told Barron's in last week's interview ("The Best Opportunities in a Half-Century," Dec. 5). Rosenberg is partial to a range of blue-chip stocks.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
12/12/2011 4:00 PM Buy
1 year
38.54
as of 8/27/2015
1 Week up  4.94 %
1 Month down  -49.32 %
3 Months down  -55.30 %
1 YTD down  -72.99 %

(*) Stock Price at the time of the recommendation.
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