Big news about acquisitions drew the investing world's attention to Freeport-McMoRan (NYSE:FCX) as the fourth quarter of last year came to a close. In one fell swoop, Freeport announced nearly $20 billion of activity when it decided to purchase natural gas and oil producers Plains Exploration & Production (UNKNOWN:PXP.DL2) and McMoRan Exploration (UNKNOWN:MMR.DL).
This added diversity is expected to supplement Freeport's portfolio by the second quarter of this year. Changing from a company deriving 100% of its revenue from mining, it will now operate with a split between mining (74%) and its newly purchased oil and natural gas business (26%). For other reasons why Freeport is a top pick, tune into the video below with Motley Fool analysts Joel South and Taylor Muckerman.