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Freeport-McMoRan: Copper Will Rebound With China And EVs

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  • Freeport-McMoRan stock has dipped back to $40 with copper prices slipping back to $4/lb.
  • Copper prices are set to rebound on a full China reopening and higher EV production levels.
  • The stock will rally on higher copper prices while Freeport-McMoRan only trades at ~5x adjusted EBITDA targets.
The China reopening has struggled to gain the expected steam due to an initial bout of high covid cases followed by the Chinese New Year. Freeport-McMoRan (NYSE:FCX) will ultimately benefit from the

Read the full article on Seeking Alpha. 

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

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