Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>In its first quarter earnings, Freeport-McMoRan reported successful results in executing its business strategies.</li><li>The incoming CEO, Kathleen Quirk, outlined the company's strategic focus on copper, citing the growing global demand for the metal in numerous sectors, particularly in electrification.</li><li>The long-term trends point to tight market conditions due to constrained existing supplies, limited major new projects, and extended deadlines for supply development.</li></ul>

In its first quarter earnings, Freeport-McMoRan reported successful results in executing its business strategies.The incoming CEO, Kathleen Quirk, outlined the company's strategic focus on copper, citing the growing global demand for the metal in numerous sectors, particularly in electrification.The long-term trends point to tight market conditions due to constrained existing supplies, limited major new projects, and extended deadlines for supply development.

Freeport-McMoRan Inc.: Growth Through Large-Scale Mining Operations in Large and High-Grade Copper and Gold Mining Districts! - Major Drivers

<ul><li>In FY 2023, Freeport-McMoRan reported solid operating results across its operations.</li><li>A key highlight was its robust performance in Indonesia, where production levels improved for the fourth consecutive year and several new operating records were set.</li><li>The company also reached several milestones, including achieving a target run rate for their leach production in the Americas and making significant progress on the Indonesian smelter project.</li></ul>

In FY 2023, Freeport-McMoRan reported solid operating results across its operations.A key highlight was its robust performance in Indonesia, where production levels improved for the fourth consecutive year and several new operating records were set.The company also reached several milestones, including achieving a target run rate for their leach production in the Americas and making significant progress on the Indonesian smelter project.

Freeport-McMoran Inc: Efficiencies From Automation & Advanced Technologies As A Game Changer! - Major Drivers

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

<ul>
<li>While there may be still be some overhang once the rights shares start trading, this is a good entry point</li>
<li>Applications for 6.4 Billion excess rights shares received from 11 applications</li>
<li>Rights shares will start trading on Tuesday 16th of July</li>
</ul>


While there may be still be some overhang once the rights shares start trading, this is a good entry point
Applications for 6.4 Billion excess rights shares received from 11 applications
Rights shares will start trading on Tuesday 16th of July


MMG Limited (1208.HK) Rights Issue - 98.18% Taken Up

<ul><li>Freeport-McMoRan Inc. delivered a mixed result in the recent quarter, with revenues above market expectations, but it failed to surpass the analyst consensus regarding earnings.</li><li>Despite this setback, Freeport-McMoRan outperformed expectations, achieving a lower-than-expected unit net cash cost of 47 per pound.</li><li>This, combined with solid copper prices, resulted in robust margins and an impressive EBITDA of 14 billion.</li></ul>

Freeport-McMoRan Inc. delivered a mixed result in the recent quarter, with revenues above market expectations, but it failed to surpass the analyst consensus regarding earnings.Despite this setback, Freeport-McMoRan outperformed expectations, achieving a lower-than-expected unit net cash cost of 47 per pound.This, combined with solid copper prices, resulted in robust margins and an impressive EBITDA of 14 billion.

Freeport-McMoRan Inc.: How Is The Company Adapting to Global Shifts? - Major Drivers

Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

Equity, Bottom-up Analyst

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Commodities

<ul>
<li>Copper rebounded last week, rising 4% on the LME and 6% on the COMEX, led by improved sentiment but in line with most of its commodity complex peers.</li>
<li>Check out our initiation, <a href="https://www.smartkarma.com/insights/copper-primer-what-we-like-about-copper-and-what-to-play" target="_blank" data-smartkarma-citation="insights:141017" rel="noopener">Copper Primer: What We Like About Copper and What to Play</a>, and our equity initiation, <a href="https://www.smartkarma.com/insights/southern-copper-in-a-league-of-its-own" target="_blank" data-smartkarma-citation="insights:139839" rel="noopener">Southern Copper: In a League of Its Own</a>. </li>
<li>We provide updates on the long copper-short gold trade we explored last week and the iron condor in <a href="https://www.smartkarma.com/entities/freeport-mcmoran-inc" target="_blank" data-smartkarma-citation="entities:12491:1" rel="noopener">Freeport Mcmoran (FCX US)</a> </li>
</ul>


Copper rebounded last week, rising 4% on the LME and 6% on the COMEX, led by improved sentiment but in line with most of its commodity complex peers.
Check out our initiation, Copper Primer: What We Like About Copper and What to Play, and our equity initiation, Southern Copper: In a League of Its Own. 
We provide updates on the long copper-short gold trade we explored last week and the iron condor in Freeport Mcmoran (FCX US) 


Copper Tracker July 2024: Physical/​Equity Screens And Trades

United States

Freeport-McMoRan Inc. is an international natural resources company. The Company operates large, long-lived, geographically diverse assets with significant reserves of copper, gold, molybdenum, cobalt, oil, and gas.

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Freeport Mcmoran (FCX US)

Freeport-McMoRan Inc.: Growth Through Large-Scale Mining Operations in Large and High-Grade Copper and Gold Mining Districts! - Major Drivers

In its first quarter earnings, Freeport-McMoRan reported successful results in executing its business strategies. The incoming CEO, Kathleen...

Baptista Research

Freeport-McMoran Inc: Efficiencies From Automation & Advanced Technologies As A Game Changer! - Major Drivers

In FY 2023, Freeport-McMoRan reported solid operating results across its operations. A key highlight was its robust performance in Indonesia,...

Baptista Research

MMG Limited (1208.HK) Rights Issue - 98.18% Taken Up

Good entry point for investors as excess rights shares receive strong demand, trading to begin on July 16th, and copper has had its correction

Rikki Malik

Freeport-McMoRan Inc.: How Is The Company Adapting to Global Shifts? - Major Drivers

Freeport-McMoRan Inc. delivered a mixed result in the recent quarter, with revenues above market expectations, but it failed to surpass the...

Baptista Research

Copper Tracker July 2024: Physical/Equity Screens And Trades

This brief insight summarizes Copper's performance and equities on our screens. We highlight our research and trades to explore for July

Sameer Taneja

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Freeport-McMoRan Inc.: Growth Through Large-Scale Mining Operations in Large and High-Grade Copper and Gold Mining Districts! - Major Drivers

In its first quarter earnings, Freeport-McMoRan reported successful results in executing its business strategies. The incoming CEO, Kathleen...

Baptista Research

Freeport-McMoran Inc: Efficiencies From Automation & Advanced Technologies As A Game Changer! - Major Drivers

In FY 2023, Freeport-McMoRan reported solid operating results across its operations. A key highlight was its robust performance in Indonesia,...

Baptista Research

MMG Limited (1208.HK) Rights Issue - 98.18% Taken Up

​Good entry point for investors as excess rights shares receive strong demand, trading to begin on July 16th, and copper has had its correction

Rikki Malik

Freeport-McMoRan Inc.: How Is The Company Adapting to Global Shifts? - Major Drivers

Freeport-McMoRan Inc. delivered a mixed result in the recent quarter, with revenues above market expectations, but it failed to surpass the...

Baptista Research

Copper Tracker July 2024: Physical/​Equity Screens And Trades

This brief insight summarizes Copper's performance and equities on our screens. We highlight our research and trades to explore for July

Sameer Taneja

Good entry point for investors as excess rights shares receive strong demand, trading to begin on July 16th, and copper has had its correction

Copper Tracker July 2024: Physical/Equity Screens And Trades