1. As of noon trading, Freeport-McMoRan Copper & Gold ( FCX) is down $1.12 (-3.5%) to $31.04 on heavy volume Thus far, 44.6 million shares of Freeport-McMoRan Copper & Gold exchanged hands as compared to its average daily volume of 14.5 million shares. The stock has ranged in price between $30.58-$31.33 after having opened the day at $31.27 as compared to the previous trading day's close of $32.16. Freeport-McMoRan Copper & Gold Inc. engages in the exploration, mining, and production of mineral resources. The company primarily explores for copper, gold, molybdenum, cobalt hydroxide, silver, and other metals, such as rhenium and magnetite. Freeport-McMoRan Copper & Gold has a market cap of $36.3 billion and is part of the metals & mining industry. The company has a P/E ratio of 12.4, below the S&P 500 P/E ratio of 17.7. Shares are up 4.0% year to date as of the close of trading on Wednesday. Currently there are 15 analysts that rate Freeport-McMoRan Copper & Gold a buy, no analysts rate it a sell, and none rate it a hold. TheStreet Ratings rates Freeport-McMoRan Copper & Gold as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, increase in stock price during the past year, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Freeport-McMoRan Copper & Gold Ratings Report now. EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass If you are interested in one of these 5 stocks, ETFs may be of interest. Investors who are bullish on the basic materials sector could consider Materials Select Sector SPDR ( XLB) while those bearish on the basic materials sector could consider ProShares Short Basic Materials Fd ( SBM). A reminder about TheStreet Ratings group: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.