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FCX in the News June 11th 2008
The wall street journal website reported that Vale, the Brazilian miner will sell up to $15 Billion dollars in shares. To speculate what they might do with this money, they mention that FCX one of our favourites here, could be a way for the miner to enter into the red hot copper market. With one analyst calling for $200 per share on this stock based on fundamentals and the expected prices of the commodities this company deals with, any offer would have to be pretty strong and even if this speculation doesn’t transpire into a buyout, Freeport-McMoRan is a strong buy at $120.
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