Copper Just Soared to an All-Time High, but This Stock Is Still a Great Value
The current copper price supports Freeport-McMoRan's valuation, and its end-market and production outlook are excellent.
Overview
The price of copper recently hit an all-time high, helping lift the stock of copper miner Freeport-McMoRan (NYSE: FCX). For short-term traders, that kind of news might be a cause for caution. But unless you have a strong view that copper will decline markedly from here, the stock continues to look highly attractive. Here's why.
The chart below shows just how well the metal has performed in recent years and the strength of its recent run.
Data source: S&P Global Market Intelligence.
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.