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Trading at 3.3X EBITDA, Freeport McMoRan (FCX) is cheaper than any other base metals producer...
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Tuesday, April 17, 2012, 8:20 AM ETTrading at 3.3X EBITDA, Freeport McMoRan (FCX) is cheaper than any other base metals producer with greater than $10B market cap, reports Bloomberg, suggesting the company as an acquisition target. Another metric: The company sells for $652/metric ton of copper equivalent reserves, about half the average for similarly-sized firms focused on copper mining.
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This news story has 3 comments:
We think it should take a stab at low-float CDE, the US's biggest Silver miner, while Silver is in the semi-doldrums.
In one fell swoop, Freeport would become largets US Copper miner AND the largest US Silver miner, a possibly very enviable position in the years ahead.
Long FCX