Shares of Freeport McMoRan closed modestly higher on Thursday – however shares are still down 10% over the month and 42% year-to-date.
Should you buy the dip on FCX?
Deutsche metals & mining analyst Jorge Beristain says at current levels he’d be buyer. "It’s at half of its 52-week high. It’s got a bullet proof balance sheet, good management, and management appears likely to raise the dividend," he explains.
Check out the entire interview. Watch the video now!
Looking for a trade? If you're bullish, Mike Khouw of Cantor Fitzgerald suggests the following options trade.
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Trader disclosure: On Oct 20, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Kelly is long GLD; Kelly is long TLT; Adami Owns AGU; Adami Owns C; Adami Owns GS; Adami Owns INTC; Adami Owns MSFT; Adami Owns NUE; Adami Owns BTU; Terranova is long VRTS; Terranova is long LQD; Terranova is long MUB; Terranova is long FCX; Terranova is long TBT; Terranova is long OXY; Terranova is long GS; Terranova is long F; Terranova is long CAT; Terranova is long AXP; Terranova is long APC; Terranova is long EMC; Terranova is long AAPL; Terranova is long IBM; Finerman owns AAPL; Finerman owns BAC; Finerman owns GOOG; Finerman owns MA; Finerman owns JPM stock leaps & puts; Finerman’s firm owns AAPL short calls; Finerman’s firm owns MSFT; Finerman’s firm owns YHOO short calls; Finerman’s firm owns IBM short calls; Najarian is long call spreads in CMG; Najarian is long call spreads in AAPL; Najarian is long call spreads in MSFT; Najarian is long call spreads in CMI; Najarian is long call spreads in IBM; Najarian is long CBOE; Najarian is long CME; Najarian is long CIGX; Niles is short INTC; Niles is long NUAN; Dicker owns TOT; Dicker owns RIG; Dicker is long oil
For Mike Khouw
Cantor Fitzgerald is a market maker of MSFT
Cantor Fitzgerald is a market maker of POT
Cantor Fitzgerald is a market maker of MOS
Cantor Fitzgerald is a market maker of FCX
Cantor Fitzgerald is a market maker of INTC
Cantor Fitzgerald is a market maker of IBM
Cantor Fitzgerald is a market maker of HPQ
Cantor Fitzgerald is a market maker of AAPL
Cantor Fitzgerald is a market maker of NUAN
Cantor Fitzgerald is a market maker of YHOO
Cantor Fitzgerald is a market maker of LUV
Cantor Fitzgerald is a market maker of UNP
Cantor Fitzgerald is a market maker of DELL
Cantor Fitzgerald is a market maker of WYNN
For Brent Thill
1. The U.S. equity strategist, a member of his team, or one of their household members has a long common stock position in Microsoft Corp.
2. This company/entity is, or within the past 12 months has been, a client of UBS Securities LLC, and investment banking services are being, or have been, provided.: Microsoft
3. This company/entity is, or within the past 12 months has been, a client of UBS Securities LLC, and non-investment banking securities-related services are being, or have been, provided.: Microsoft
4. This company/entity is, or within the past 12 months has been, a client of UBS Securities LLC, and non-securities services are being, or have been, provided.: Microsoft
5. Within the past 12 months, UBS Securities LLC has received compensation from this company/entity: Microsoft
For Jorge M. Beristain
Deutsche Bank and/or its affiliate(s) owns one percent or more of (FCX) any class of common equity securities of this company calculated under computational methods required by US law. Deutsche Bank and/or its affiliate(s) has received non-investment banking related compensation from (FCX) within the past year.
CNBC.com with wires.
