Thank you, Keith. Eye-popping news, which inspired me to see if C had anything new on FCX. Nothing yet, although Morningstar has it under review:
04/21/08Freeport-McMoRan under Review (MRN)
This is the latest C research report that mentions FCX, but only in it's listing of _every_ company in it's global coverage of metals and mining stocks:
04/21/08Metals & Mining Insights: Sector Valuations: Base Leverage, Bulk Protection (C)
The report is 21 pages long so here is merely a tiny snippet:
Figure 2. Citi 2008 Commodity Forecasts vs. Spot
2008 Citi Spot Difference
Gold (US$/oz) 906 914 1%
Silver (US$/oz) 16 18 15%
Platinum (US$/oz) 2,003 2,026 1%
Palladium (US$/oz) 448 451 1%
Rhodium (US$/oz) 8,293 9,075 9%
Aluminium (US¢/lb) 132 135 2%
Copper (US¢/lb) 356 392 10%
Molybdenum (US$/lb) 32 33 5%
Nickel (US$/lb) 12.5 13.0 4%
Zinc (US¢/lb) 105 102 -3%
C states in the report that:
Our top picks are biased toward the diversified stocks as well as companies
delivering volume growth. Our top picks are XTA, FXPO and FQM:
? XTA: Largest exposure to coal amongst the UK miners. Under-rated growth
profile, attractive valuation and M&A potential.
? FXPO: Pure iron ore play. Recently agreed contract settlement price
increases of over 90% for over half of 2008 production volumes. Offers
exposure to strong iron ore pricing environment and volume growth longer
term.
? FQM: Pure copper play trading at significant discount to peers. The
uncertain outcome of the new tax regime in Zambia is weighing on
sentiment, however the company is trading at a significant discount to its
peers and has strong volume growth over the next two-three years.
[end of copy/paste]
Note that none of these stock symbols are for U.S. markets. Later I'm going to spend a little time and find out what their U.S. symbols are (even if they do not trade in the States, like my HYHZF which is merely symbols given for a Korean purchase only stock.
Lynn |
