Buy Freeport McMoRan Copper & Gold (FCX)
12/30/2008 10:07 pm EST
Maybe the company should change its name to Copper & Gold & Molybdenum. Total proven and probable reserves of molybdenum, a metal used in high strength steel alloys, total 1.9 billion pounds and the metal made up 12% of 2006 sales. With proven and probable reserves totaling 75 billion pounds copper does remain king--especially after Freeport's 2007 acquisition of Phelps Dodge—which is another reason to like this stock.