FCX is major global mining company with a focus on Copper and to a lesser extent Gold – two areas that have been under pressure in recent times, the former as recession fears mount. We have owned FCX in the past, having sold the position in March this year around US$50 into new highs that have subsequently failed. We now see value and are looking to add FCX back into the portfolio to build out our exposure to resources in this current pullback.
MM is again bullish on FCX ~$US30
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