The macro picture has improved for Freeport-McMoRan and other copper miners over the last two years. Despite the recent sell-off in copper, the metal has been flirting with the $7,000-per-metric-ton level.
Grasberg concerns have been making a section of the market apprehensive about the company. During its 1Q18 earnings call, Freeport-McMoRan pointed to Indonesia’s new environmental regulations. According to the company, they would make it impossible to operate the mine. See Freeport-McMoRan-McMoRan and Indonesia: The Tussle Gets Muddier to look at some of the issues the company is battling in Indonesia.
Now the question could be: should you also be trimming your holdings in the company? See 5 Reasons to Consider Freeport-McMoRan-McMoRan to find out what could be priced into the company’s valuation.
View more information: https://marketrealist.com/2018/05/whats-making-carl-icahn-bearish-on-freeport-mcmoran/