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Freeport-McMoRan (FCX US)

$US 49.86 UPDATED 23/03/2022 09:32

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MM are selling FCX US in the International Equities Portfolio, taking profit around US$50

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OPINION

24/03/2022 12:25

International Equities Portfolio – Amendments

We are taking profit on Freeport (FCX US) and buying Chipotle (CMG US)

23/03/2022 09:39

Freeport-McMoRan (FCX US) $US49.86

FCX is one case where some patience has proven profitable as It posted fresh decade highs this week, we now intend to pull the trigger and switch from FCX to Chipotle Mexican Grill (CMG), a stock we’ve also discussed previously i.e. locking in a more than 20% profit in the process.

16/03/2022 09:32

International Equities Portfolio

The MM International Equities fell -2.03% last week with cash sitting at 9%. Our tech exposures provided the biggest weight, with both Tencent (700 HK) & JD.com (JD US) falling sharply, while Amazon (AMZN US) +10.9% and Deer & Co (DE US) +8.36% offset most of the decline, while a weaker AUD added +1.75%. If we are correct, the recent decline in tech will reverse very soon.

09/03/2022 09:32

Freeport-McMoRan Inc (FCX US) $US47.03

FCX has followed our forecasted path almost perfectly taking us from a bullish to neutral stance i.e. its time to take profit and reassess.

09/03/2022 09:31

International Equities Portfolio

A tough week for the International Equities portfolio falling by 5.51% which was broadly in line with weakness across international markets. Australian equities have outperformed global peers in recent weeks given our skew towards energy & resources versus the US skew towards technology. The Trade desk (TTD US) was the weakest link down by 24.13% while Exxon Mobil (XOM US) advanced by 10.74%.

02/03/2022 09:35

International Equities Portfolio

The MM International Equities Portfolio was higher over the course of the week the up by +1.32% including a negative impact from the higher Australian Dollar of -1.09%. Commodities remained strong which underpinned our position in Freeport-McMoRan (FCX US) which increased by +12.2% while Alibaba (BABA US) and Tencent (700 HK) were off 4-6% on the downside. For February, this portfolio was...

16/02/2022 09:23

International Equities Portfolio

The MM International Equities Portfolio added 0.29% over the last week, Barrick Gold (GOLD US) +6.03%, The Trade Desk (TTD US) +4.9% and Freeport-McMoRan (FCX US) +4.11% the standout performers while PayPal (PYPL US) -4.33% and Amazon (AMZN US) -3.38% continue to struggle albeit not in a major way after recent week.

02/02/2022 09:28

International Equities Portfolio

The MM International Equities Portfolio had a strong week up +5.46% while cash remains at 4%. The main support from a performance perspective came from an aggressive bounce back in technology with The Trade Desk (TTD US) up 13.82%, PayPal (PYPL US) +11.50% while Exxon Mobil (XOM US) also benefitted from continued strength in energy prices...

04/11/2021 13:39

International Equities Portfolio – Amendment

We are buying Freeport McMoran (FCX US) recent weakness.

03/11/2021 09:23

International Equities Portfolio

MM’s International portfolio gained 0.79% last week with cash at 9%. We enjoyed strong performances from Microsoft (MSFT US), Brunswick (BC US) and happily again Shopify (SHOP US) on the other side of the fence PayPal (PYPL US), Alibaba (BABA US), BHP (BHP LN) and Barrick Gold (GOLD US) weighed on the portfolio.