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 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

<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

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

Rikki Malik

<ul>
<li>Low-Cost producer of copper and zinc with two of the biggest  ten mines in the world.</li>
<li>Recent mine acquisition and increased production at existing mines will grow earnings.</li>
<li>The supply and demand imbalance in copper will lead to higher prices.</li>
</ul>


Low-Cost producer of copper and zinc with two of the biggest  ten mines in the world.
Recent mine acquisition and increased production at existing mines will grow earnings.
The supply and demand imbalance in copper will lead to higher prices.


Mmg Limited 1208.HK - It's Got It All - Copper, EV's, and AI!

Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

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

Thematic (Sector/Industry)

<ul>
<li>Our insight <a href="https://www.smartkarma.com/insights/2024-high-conviction-junior-copper-miners" target="_blank" data-smartkarma-citation="insights:122425" rel="noopener">2024 High Conviction: Junior Copper Miners</a> garnered significant interest in late 2023, we hereby provide an update on our favorite junior copper names.</li>
<li>Copper prices have started to to tick up (+5% YTD) on the back of gold making new all-time highs late in 1Q24, and more importantly squeezed global supply.</li>
<li>
<a href="https://www.smartkarma.com/entities/entree-resources-ltd-3aeeb68c-80d0-4ada-822e-898883fbb28e" target="_blank" data-smartkarma-citation="entities:26727:1" rel="noopener">Entree Resources (ETG CN) </a>has performed strongest +22% while <a href="https://www.smartkarma.com/entities/arras-minerals-corp" target="_blank" data-smartkarma-citation="entities:40384:1" rel="noopener">Arras Minerals (ARK V EQUITY)</a> has been a laggard at -18% YTD.</li>
</ul>


Our insight 2024 High Conviction: Junior Copper Miners garnered significant interest in late 2023, we hereby provide an update on our favorite junior copper names.
Copper prices have started to to tick up (+5% YTD) on the back of gold making new all-time highs late in 1Q24, and more importantly squeezed global supply.

Entree Resources (ETG CN) has performed strongest +22% while Arras Minerals (ARK V EQUITY) has been a laggard at -18% YTD.


Junior Copper Miners: An Update After 1Q24

Equity Capital Markets

Freeport Mcmoran / Equity Capital Markets

<ul><li>It was a challenging first quarter for Freeport-McMoRan due to disruptions caused by extreme weather conditions and labor shortages.</li><li>The company managed an all-around beat and achieved essentially in-line consolidated unit net cash costs, averaging $1.76 per pound despite lower-than-expected volumes.</li><li>Freeport-McMoRan ended the quarter with $1.3 billion in net debt, and its balance sheet, liquidity, and financial flexibility are in great shape.</li></ul>

It was a challenging first quarter for Freeport-McMoRan due to disruptions caused by extreme weather conditions and labor shortages.The company managed an all-around beat and achieved essentially in-line consolidated unit net cash costs, averaging $1.76 per pound despite lower-than-expected volumes.Freeport-McMoRan ended the quarter with $1.3 billion in net debt, and its balance sheet, liquidity, and financial flexibility are in great shape.

Freeport-McMoRan Inc: Is The Volumes Expectation For 2023 Too High? – Key Drivers

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.

Freeport Mcmoran (FCX US)

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

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

Mmg Limited 1208.HK - It's Got It All - Copper, EV's, and AI!

A low-cost producer of copper and zinc poised for earnings growth with recent mine acquisitions and increased production, as the copper supply...

Rikki Malik

Junior Copper Miners: An Update After 1Q24

Update on favorite junior copper miners as copper prices rise, Entree Resources (+22%) outperforms while Arras Minerals (-18%) lags.

Nicolas Van Broekhoven

Freeport-McMoRan Inc: Is The Volumes Expectation For 2023 Too High? – Key Drivers

It was a challenging first quarter for Freeport-McMoRan due to disruptions caused by extreme weather conditions and labor shortages. The company...

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

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

Mmg Limited 1208.HK - It's Got It All - Copper, EV's, and AI!

​A low-cost producer of copper and zinc poised for earnings growth with recent mine acquisitions and increased production, as the copper supply...

Rikki Malik

Junior Copper Miners: An Update After 1Q24

​Update on favorite junior copper miners as copper prices rise, Entree Resources (+22%) outperforms while Arras Minerals (-18%) lags.

Nicolas Van Broekhoven

Freeport-McMoRan Inc: Is The Volumes Expectation For 2023 Too High? – Key Drivers

It was a challenging first quarter for Freeport-McMoRan due to disruptions caused by extreme weather conditions and labor shortages. The company...

Baptista Research

A low-cost producer of copper and zinc poised for earnings growth with recent mine acquisitions and increased production, as the copper supply...

Update on favorite junior copper miners as copper prices rise, Entree Resources (+22%) outperforms while Arras Minerals (-18%) lags.