Freeport-McMoRan: China Will Roar Back
- Freeport-McMoRan now trades below a market cap of $45 billion despite delivering $12 billion in adjusted EBITDA over the last year.
- The copper miner is set to ride the wave of higher copper demand from China.
- The stock is cheap at current copper prices and only trades at 3x EBITDA targets for $5/lb copper.
- This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More »
Like most commodities, copper has been crushed over the last few months, sending Freeport-McMoRan () down for the year. The global economic weakness centered on China sent copper prices down to 20-month lows, but the communist country is back ininvestment thesis