IB Net Payout Yields Model

Freeport-McMoRan: Higher Copper Price Path

Updated - Jan. 6

People not buying FCX the last couple of months missed out big time. The copper miner appears headed to $50 and even $60. 

  • Freeport McMoran (NYSE:FCX+6% in Friday's trading, placing it near the top of the day's S&P 500 leaderboard and capping an 11% gain for the week, as copper prices rise on hopes that China's efforts to
  • Comex copper for March (HG1:COM) delivery recently +2.5% to $3.917/lb, while the most-traded February copper contract on the Shanghai Futures Exchange ended +1.5% to 65,060 yuan/metric ton ($9,460).
Finviz Chart

Original article posted on Dec. 18
  • Green energy demand will continue to push copper prices higher over the next decade.
  • Freeport-McMoRan is already highly profitable at current copper prices and the path appears for record prices above $5/lb in the years ahead.
  • The copper miner could produce $12+ billion in EBITDA.
  • The stock is cheap at only 4.5x those aggressive EBITDA goals.
With China heading towards a full reopening from covid lockdowns, copper is likely headed towards a breakout. Freeport-McMoRan (NYSE:FCX) remains one of the best ways to play a copper rebound due to huge EV demand ahead
Read the full article on Seeking Alpha. 

Disclosure: No position mentioned. Please review the disclaimer page for more details. 


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