Freeport-McMoran Could Be Concealing a Secret Weapon: Could This Be a Major Opportunity for Investors?
Freeport-McMoRan (NYSE: FCX) is best known as a play on copper, and rightly so. The industrial metal is its most essential earnings generator, and that won't change anytime soon. However, it's often overlooked that it's also a gold and molybdenum miner. And the latter is what investors should be focusing on right now, not least because it adds upside potential to the stock. Here's why.
Here's a look at some key statistics for its metals to give readers a flavor of how Freeport makes money. As you can see below, copper is its most important metal. Using realized prices for each metal for 2022 and the estimated sales volume for 2023 produces a rough estimate of $16.4 billion for copper sales, $3 billion for gold sales, and $1.5 billion for molybdenum.
Note these are rough estimates, as the price of metals moves around a lot.
Source Fool.com
