Freeport-McMoRan (NYSE: FCX) announced that it will sell its 80 percent ownership interest in the Candelaria/Ojos del Salado copper mining operations and supporting infrastructure to Lundin Mining Corporation (TSX:LUN)(OMX:LUMI) for $1.8 billion in cash and contingent consideration of up to $0.2 billion.
Freeport-McMoRan (NYSE: FCX) reported net income of $482 million, $0.46 per share, for second-quarter 2014, compared with $482 million, $0.49 per share, for second-quarter 2013 and $992 million, $0.95 per share, for the first six months of 2014, compared with $1.1 billion, $1.17 per share, for the first six months of 2013.
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) announced today that its oil and gas subsidiary, Freeport-McMoRan Oil & Gas (FM O&G), has entered into a definitive purchase and sale agreement to acquire certain of Apache Corporation’s (Apache) (NYSE, Nasdaq: APA) interests in the Deepwater Gulf of Mexico (GOM), including Apache’s interests in the Lucius and Heidelberg oil production development projects and 11 exploration leases, for $1.4 billion.
These contrarian stock picks represent a diverse group of companies that have been among the worst performers in the Russell 2000 over the past year or so, trade reasonably actively and have decent businesses with good long term investing turnaround potential.
Free Stock Report
Put George Putnam's 28+ years of market-beating, contrarian investing advice to work for you, and give your portfolio a boost with this FREE stock report.