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>Third-quarter 2024 results for Freeport-McMoRan demonstrated a company executing well against its strategic plans while capitalizing on favorable market conditions for copper and gold.</li><li>During the period, the company reported substantial earnings with EBITDA reaching $2.7 billion and operating cash flows at $1.9 billion, driven by strong sales volumes that exceeded guidance for both copper and gold, alongside favorable unit cash cost performance.</li><li>However, there were notable incidents and challenges that could influence the company's operational and financial performance moving forward.</li></ul>

Third-quarter 2024 results for Freeport-McMoRan demonstrated a company executing well against its strategic plans while capitalizing on favorable market conditions for copper and gold.During the period, the company reported substantial earnings with EBITDA reaching $2.7 billion and operating cash flows at $1.9 billion, driven by strong sales volumes that exceeded guidance for both copper and gold, alongside favorable unit cash cost performance.However, there were notable incidents and challenges that could influence the company's operational and financial performance moving forward.

Freeport-McMoRan Inc.:  Expansion & Efficiency At Key Operations As A Crucial Growth Lever! - Major Drivers

<ul><li>Freeport-McMoRan's second quarter results underscore both strengths and areas for further improvement within its operations and strategic initiatives.</li><li>As a dominant player in the copper industry, the company continues to benefit from strong global demand for copper, essential for various sectors like electrification and renewable energies.</li><li>Freeport-McMoRan highlights robust EBITDA of $2.7 billion and an impressive $2 billion in operating cash flow, driven by steady production volumes and recovering commodity prices.</li></ul>

Freeport-McMoRan's second quarter results underscore both strengths and areas for further improvement within its operations and strategic initiatives.As a dominant player in the copper industry, the company continues to benefit from strong global demand for copper, essential for various sectors like electrification and renewable energies.Freeport-McMoRan highlights robust EBITDA of $2.7 billion and an impressive $2 billion in operating cash flow, driven by steady production volumes and recovering commodity prices.

Freeport-McMoRan Inc.: Innovative Smelter Operations in Indonesia & Other Major Drivers

<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

ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Cross Asset Strategy

<ul>
<li>Indonesia has been the recipient of significant investment flows for foreign investors with more of a "risk on" environment with a large portion flowing into Indonesian banks. </li>
<li>Indonesia stacks up from an investment perspective with a stable political environment, solid GDP growth of around 5% YoY, rising flows of FDI, and a more stable IDR.</li>
<li>Despite the JCI knocking on all-time highs, valuations continue to look attractive with prospects of a better 2H2024 and lower interest rates. Top picks: Banks, property, consumer, and selective elsewhere. </li>
</ul>


Indonesia has been the recipient of significant investment flows for foreign investors with more of a "risk on" environment with a large portion flowing into Indonesian banks. 
Indonesia stacks up from an investment perspective with a stable political environment, solid GDP growth of around 5% YoY, rising flows of FDI, and a more stable IDR.
Despite the JCI knocking on all-time highs, valuations continue to look attractive with prospects of a better 2H2024 and lower interest rates. Top picks: Banks, property, consumer, and selective elsewhere. 


Indonesia Strategy - Caught in a Perfect Updraft?

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.: Expansion & Efficiency At Key Operations As A Crucial Growth Lever! - Major Drivers

Third-quarter 2024 results for Freeport-McMoRan demonstrated a company executing well against its strategic plans while capitalizing on favorable...

Baptista Research

Freeport-McMoRan Inc.: Innovative Smelter Operations in Indonesia & Other Major Drivers

Freeport-McMoRan's second quarter results underscore both strengths and areas for further improvement within its operations and strategic...

Baptista Research

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

Indonesia Strategy - Caught in a Perfect Updraft?

Despite the JCI knocking on all-time highs, valuations continue to look attractive with prospects of a better 2H2024 and lower interest rates. Top...

Angus Mackintosh

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