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More on Freeport McMoRan's (FCX) Q1 results: Copper production rose 18% while copper prices...

More on Freeport McMoRan's (FCXQ1 results: Copper production rose 18% while copper prices fell 8.1%. Costs and expenses rose 12% to $3.2B. Lowers 2013 operating cash flow guidance to $5.5B, down from $7B, based on current sales volume and cost estimates and assuming average prices of $3.25/lb. for copper, $1,400/oz. for gold and $11/lb. for molybdenum for the rest of 2013. FCX +0.8% premarket.
Comments (3)
  • User 9405581
    , contributor
    Comments (2) | Send Message
     
    At the moment FCX is a company people love to hate. I believe it is way oversold and has a very good outlook for strong recovery.
    18 Apr 2013, 09:39 AM Reply Like
  • TwistTie
    , contributor
    Comments (2476) | Send Message
     
    I bought FCX just a wee bit too early.

     

    This has cured my thirst for mining stocks for the time being.

     

    Are their any other stocks or sectors that will be similarly crushed in the coming weeks?

     

    I don't want to give all stocks an equal chance to destroy my portfolio.
    18 Apr 2013, 12:51 PM Reply Like
  • wil3714
    , contributor
    Comments (1956) | Send Message
     
    Concerns are FCX destroyed their balance sheet with PXP and MMR acquisitions, $20B in debt its not just a copper story anymore
    19 Apr 2013, 04:43 AM Reply Like
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