Big news about acquisitions drew the investing world's attention to Freeport-McMoRan as the fourth quarter of last year came to a close. In one fell swoop, Freeport announced nearly $20 billion of activity when it decided to purchase natural gas and oil producers Plains Exploration & Production and McMoRan Exploration .
This added diversity is expected to supplement Freeport's portfolio by the second quarter of this year. Changing from a company deriving 100% of its revenue from mining, it will now operate with a split between mining (74%) and its newly purchased oil and natural gas business (26%). For other reasons why Freeport is a top pick, tune into the video below with Motley Fool analysts Joel South and Taylor Muckerman.
After putting together a blockbuster deal to expand into the oil and natural gas industry, Freeport-McMoRan will have plenty on its plate as it tries to adapt to the new industry, as expanding into oil and gas carries plenty of inherent volatility. FCX has a profitable copper business, and on top of this foray into a new industry it still has to contend with mining industry bellwether BHP Billiton. To help investors determine if Freeport-McMoRan is a buy or a sell, The Motley Fool has compiled a premium research report on the company. Simply click here now to access your copy today.
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