Thursday, April 28, 2016

Freeport-McMoRan: The Company Is Proving Its Mettle

Freeport-McMoRan reported mixed Q1 results.
The copper miner made huge strides toward becoming free cash flow positive as the oil and gas division becomes less of a drag.
The stock is likely heading higher as the cash flow position turns very positive heading into 2017.
The investment theme at the lows in the stock was that Freeport-McMoRan (NYSE:FCX) was in a substantially better cash flow position than predicted by the stock price. The solid Q1 results confirm the simple path to reach positive free cash flow this year.
Read the full article on Seeking Alpha.

 Disclosure: Long FCX. Please read the disclaimer page for more details.

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