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Freeport-McMoRan: China Will Roar Back

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  •  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 (NYSE:FCX) 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 in growth mode. My investment thesis is ultra bullish on the stock after the dip due to the ultimate strong demand for copper.

Read the full article on Seeking Alpha. 

Disclosure: Long FCX. Please review the disclaimer page for more details. 


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