First Quantum Minerals Ltd.
Freeport-McMoRan: All’s Well that Ends Well
Freeport-McMoRan (FCX), the leading US copper miner, closed at $18.1 on December 22. Based on that day’s closing prices, Freeport has gained 30.0% in December.
Overview: The thin line between frontier and emerging markets
Going to frontier markets offers more of an opportunity to discover the most overlooked companies.
Why has volatility picked up in frontier markets?
While these exotic markets are not for everyone, more aggressive investors should consider having a small strategic allocation to the frontier.
Why frontier markets are good diversifiers for your portfolio
Diversification: Finally, companies in frontier markets tend to just focus on demand in their local countries and thus are less tied to the global economy than emerging markets like China and Brazil. As my colleagues Del Stafford and Daniel Morillo pointed out last fall in blog posts, this means frontier markets have exhibited a low […]
Is Wall Street Playing It Safe with Freeport-McMoRan?
Freeport-McMoRan (FCX) has received a “buy” or higher rating from nine analysts, while three analysts rated it as a “sell.”
Must-know: Why frontier markets are not created equal
When considering an investment in frontier markets (FM), it’s important to note that all exposures are not created equal. The fact that these markets are hard to access can be reflected in the type of securities that some frontier market indexes include.
Miners’ Debt Continues to Fall amid Strong Commodity Prices
In this part of our series, we’ll see how mining companies’ net debt progressed last year. You can define net debt as total debt minus cash and cash equivalents.
Miners Post Record Earnings as Commodities Rebound
In this part of our series, we’ll do a comparative analysis of mining companies’ adjusted EBITDA.
What Freeport-McMoRan’s Strong Cash Flows Mean for Investors
In this part of our series, we’ll look at copper miners’ first-quarter free cash flows and look at the 2018 cash flow guidance.
Stellar returns: Why you should consider frontier markets
While a traditional emerging market benchmark is up 1.5% year-to-date, frontier, or “pre-emerging” markets, have been performing well.
Analysts See a 70% Upside in First Quantum Minerals
First Quantum Minerals (FM) has received “strong buy” ratings from eight analysts, while nine have given it “buy” ratings or some equivalent.
Consumption-Driven Emerging Markets Appear Attractive
Not all emerging markets (EEM) seem investment-worthy. Only some consumption-driven emerging markets appear attractive.
Glencore or Freeport: Which Has More Upside Potential?
Glencore (GLEN-L) has the highest percentage of “buy” or higher recommendations in our select group of mining stocks.
How Wall Street Sees Freeport-McMoRan this Earnings Season
In this final article of our series, we’ll see how analysts are rating Freeport ahead of its 1Q18 earnings release.
4 must-know reasons why you should invest in frontier markets
So-called frontier markets (FM) – those markets that are still at a very early stage of development — have been among the best performers in 2014, outperforming global markets (ACWI) year to date.
Freeport-McMoRan’s 1Q18 Earnings: The Word on Wall Street
Freeport-McMoRan, the leading US copper miner, is slated to release its 1Q18 earnings on April 24.
Did Macri’s Efforts Boost Argentina’s Growth in 1Q17?
Argentina’s economy expanded in 1Q17 after consecutive contractions over the last three quarters.
Freeport-McMoRan’s Divergence from Copper Prices: What’s Next?
In 2017, Freeport-McMoRan underperformed copper miners Southern Copper (SCCO) and First Quantum Minerals (FM) for most of the year on Grasberg concerns.
Why you should consider this change in Qatar and UAE’s status
Qatar’s and UAE’s equity markets have increased roughly 47% and 188%, respectively, since the beginning of 2013. As a result of their previous classification as frontier markets, the broad MSCI Frontier Markets 100 Index has risen roughly 32%.
Surge in Imports Increases Argentina’s Trade Deficit in May 2017
Argentina (ARGT) posted a higher trade deficit for May 2017 at $642 million, mainly due to increasing imports as compared to its exports.
China’s Copper Imports: What to Expect in 2018
In December, China imported 440,000 metric tons of unwrought copper and copper products. Imports fell on a YoY (year-over-year) and a monthly basis.
What Are Freeport-McMoRan’s Long-Term Growth Drivers?
Freeport has several greenfield copper exploration opportunities.
Must-read: Why widen your scope through frontier markets?
Given that frontier markets are smaller and hard to access, what’s the draw for an investor? There are a few potential portfolio benefits to be aware of.
Miners Look at Avenues to Deploy Cash amid Strong Metal Prices
Freeport-McMoRan (FCX) generated free cash flows of $875 million in 3Q17, taking its free cash flows in the first nine months of 2017 to almost $2.0 billion.
Copper Miners: What to Expect in December
With copper prices trading sideways this month, copper miners also had a dull month. Freeport-McMoRan (FCX) fell 0.42% in November.
Must-know: Risks of investing in the frontier
You need to exercise caution while investing in frontier markets due to problems of liquidity and high concentration in the finance sector.
Inside Freeport-McMoRan’s 4Q17 Revenue Beat
Freeport-McMoRan (FCX) posted revenues of $5.0 billion in 4Q17. The company posted revenues of $4.3 billion in 3Q17 and $4.4 billion in 4Q16.
What’s Been Ailing Copper This Year?
Copper tends to underperform in periods of uncertainty and rising geopolitical risk—something we’re witnessing now.
Thinking of investing in frontier markets? Consider this
Though a growing number of funds are providing access to frontier markets, it’s important to remember that frontier countries generally have less established equity markets.
Has Copper’s Bullish Thesis Been Threatened?
Among other factors, a wave of labor negotiations has lent support to copper’s bullish thesis.
Three reasons why frontier stocks are now a strategic asset class
Many investors are approaching frontier stocks too narrowly, viewing them as a subset of their emerging markets’ (EMB) allocation and selling off part of their emerging market equities’ exposure to gain access to the frontier.
Why you should consider adding frontier markets to your portfolio
In 2015, some of the smaller emerging, and even frontier markets have the potential to do well because that is where we have seen some of the best valuations and growth.
Overview: The must-know characteristics of frontier markets
Looking for the next frontier in emerging market investing? Del Stafford dives into these underdeveloped countries to assess the investment case.
Must-know: Comparing frontier market and emerging market returns
Frontier markets haven’t performed in lock step with the more developed emerging world. Over the past year, frontier markets, as measured by the MSCI Frontier Markets Index, have delivered a stellar return of 21%.
Is Argentina Back in the Game, or Are Dark Clouds Here to Stay?
For more than a decade, the outgoing party’s continual resistance to honoring debt led to Argentina’s exclusion from international financial markets.
Why you should invest in the frontier markets
Frontier equity markets typically have modest market capitalization, limited investability and liquidity, and few market information sources.
Must-know: Frontier and emerging markets investment pros and cons
Emerging markets are quickly becoming the driver of global growth.
First Quantum Minerals: Analysts See More Returns
First Quantum Minerals (FM) has risen 44% this year based on its closing prices on February 26.
How Analysts See Copper Miners as Prices Stabilize
The metals and mining space has seen a lot of turbulence over the last five years. In 2015, China’s slowdown concerns spooked commodity investors.
Why Freeport-McMoRan Is Surging Today
Freeport-McMoRan (FCX), the leading US-based copper miner, is trading with gains of 5.5% as of 11:55 AM EST.
Could Freeport-McMoRan’s Rally Lose Steam?
As of January 18, Freeport-McMoRan (FCX) stock had risen 21.8% this year.
Is Freeport-McMoRan Finally Catching Up with Copper?
We’re now into the fourth-quarter earnings season, and Freeport-McMoRan (FCX) is scheduled to release its earnings on January 24.
Lower Energy Prices: Boon or Bane for Copper Miners?
Lower energy prices Previously, we discussed copper miners’ production profiles and 2018 guidance. In this part, we’ll look at leading copper producers’ unit cash costs and see what’s impacted their unit cost progression. Comparative analysis Freeport-McMoRan (FCX) reported unit cash costs after by-product credit of $0.93 per pound in the third quarter—compared to $0.96 per […]
How Are Copper Miners Placed in Q4 2018?
Copper prices have been largely rangebound during the past month. Copper prices have hovered above $6,000 per metric ton.
Analysts Weigh in on Antofagasta amid Lower Copper Prices
Antofagasta (ANTO) has received “strong buy” ratings from seven analysts, while five have given it “buy” ratings or some equivalent.
How Copper Miners Stacked Up in the First Half
The second-quarter earnings season is over, and most copper miners have released their quarterly financial performance results.
What Steroids? Freeport-McMoRan Seems to Be on a Ventilator
Freeport-McMoRan (FCX) is seeing a selling spree today, and its stock is trading down 7.0% as of 1:40 PM EDT on July 19.
Will Analysts Warm to Freeport after Its Grasberg Resolution?
Wall Street analysts seem to be sitting on the sidelines as Freeport negotiates its long-term mining rights in Indonesia.
Southern Copper Stock Lost Favor with Analysts
Southern Copper carries a mean consensus target price of $46.8, which represents a potential downside of 8.5% over its closing price on June 11.
Why Freeport-McMoRan Expects Costs to Rise This Year
Previously in this series, we looked at copper miners’ first-quarter production and 2018 guidance. In this article, we’ll look at their unit production costs.
How Analysts View Copper Miners amid Sagging Commodity Prices
In this series, we’ll see how analysts are rating copper miners amid sagging commodity prices.
Should Southern Copper Investors Expect Higher Dividends?
In the previous part of this series, we looked at Freeport-McMoRan’s (FCX) capital allocation strategy.
Comparing Freeport’s Interest Coverage Ratio to Southern Copper
In this part of our series, we’ll look at different copper miners’ interest coverage ratios.
Why Freeport Expects Its Unit Cash Costs to Fall Further in 2018
In the previous part of this series, we looked at leading copper miners’ 4Q17 unit cash costs.
Copper Miners Face Cost Pressure as Input Costs Rise
Previously in this series, we looked at copper miners’ 4Q17 production profiles and 2018 guidance.
Freeport-McMoRan’s 4Q17 Production Profile versus Other Miners’
In this article, we’ll look at leading copper miners’ 4Q17 production data.
Comparing Copper Miners’ 4Q17 Performance
We’re now nearing the end of 4Q17 earnings season, and most copper miners have released their results.
How Analysts Rate Southern Copper after 4Q17 Earnings
Southern Copper (SCCO) has received a “buy” rating from only one analyst, while six analysts rate the stock as a “hold” or some equivalent.
Are Analysts’ Estimates for Freeport’s Revenues Conservative?
Analysts polled by Thomson Reuters expect Freeport to post revenues of $4.7 billion in 4Q17, which is 9.5% higher than the sequential quarter.
Why Last Week Was Such a Happening One for Freeport-McMoRan
Freeport-McMoRan, which has underperformed the broader copper mining space in 2017, rose 13.4% last week. Thanks to last week’s upward price action, it’s now risen 28.7% in 2017.
China’s November Copper Imports Provide Some Relief to Bulls
China’s copper imports data are closely followed by investors in companies such as Freeport-McMoRan (FCX), Glencore (GLEN-L), and Southern Copper (SCCO).
Why Copper Has Fallen from Its 2017 Highs
Copper prices have come off their 2017 highs. Copper, which closed almost flat last month, has lost 3.3% in December.
Which Copper Miner Is Wall Street Betting On in 2018?
In this series, we’ll see how analysts are rating leading copper miners as 2017 draws to a close. We’ll also see how vehicle electrification could impact mining companies.
Copper Market Deficit: What You Need to Know
Global mined copper production fell 2.2% YoY in the first eight months of the year. The decline was mainly led by a 5% fall in Chilean copper production.
Is Freeport-McMoRan or Southern Copper More Profitable?
Freeport-McMoRan (FCX) posted adjusted EBITDA of $1.6 billion in 3Q17.
Doctor Copper Moved to a New Floor Last Week
Last week copper prices broke free of yet another psychological price level.
Copper’s on a High: Why Investors Are Optimistic
Copper prices have regained momentum in October after showing weakness in the last month. So far, copper has risen 4.9% in October.
Which Major Copper Stock Has the Most ‘Buy’ Recommendations?
Glencore (GLEN-L) was the third-largest copper producer last year, after Codelco and Freeport-McMoRan (FCX).
Why Consumer Confidence in Argentina Is Falling in 2017
Argentina’s (FM) consumer confidence saw a huge drop in June 2017, as Argentinians are highly unsatisfied with the austerity measures President Macri’s government has adopted.
Is Argentina Outperforming Emerging Markets in June 2017?
The Merval Index, Argentina’s benchmark index, has risen about 10.5% so far in 2017 as of June 23.
Why Argentina’s Inflation Continues to Surge in 2017
Argentina’s inflation has been surging for a couple of years, spiking to around 40.0% in 2016 compared to 10.0% between 2007 and 2009.