Friday, February 26, 2010

Freeport-McMoRan (NYSE:FCX) Loaded with Cash

Freeport-McMoRan Growing Organically

Freeport-McMoRan Copper and Gold (NYSE:FCX) is in the enviable position of not needing to make acquisitions which would cause them to have to pay a premium for growth. The reason why is they're loaded with cash and can grow organically.

Plans for the cash, according to Chief Executive Richard Adkerson are to use it to expand their exploration drilling, relaunch development projects on hold, pay down their debt, and to increase dividends for their shareholders.

Although some major markets they operate in have been slow, the company is bullish on copper over the long term and are positioned to participate in expected growing prices and demand going forward.

Freeport-McMoRan (NYSE:FCX) Growth Strategy

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