Better Buy: Freeport-McMoRan Inc. vs. Wheaton Precious Metals

Over the last few years copper and gold miner Freeport-McMoRan Inc. (NYSE: FCX) has faced headwinds ranging from bad investment choices to commodity price weakness to complicated relationships with foreign governments. It's been a hard stretch to say the least. On the other hand, Wheaton Precious Metals' (NYSE: WPM) biggest shift recently may have been changing its name to better reflect the breadth of its portfolio. Here's why Freeport's troubles show why Wheaton is the better buy.

The current chapter in Freeport's story starts with the commodity downturn that began in 2011. There's not a whole lot a miner can do about this issue, but the impact is pretty notable. The company's earnings peaked in 2011 at nearly $4.80 a share, then declined in each of the next four years, at which point the company was deep in the red. The only thing Freeport could do about it was focus on reducing costs by trimming operating expenses and capital investment plans.

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Source: Fool.com