FCX is the world’s largest producer of copper and molybdenum producer and operates the world’s largest gold mine, a great combination in today’s climate. The stock has been languishing around $US50 through much of 2024, in line with copper’s ~’15% pullback, but we regard this as a buying opportunity rather than a reason to lose faith.
NB: FCX trade ex-dividend overnight.
We may consider trimming our large 6% position ~$US60 – MM is long FCX in our International Equities Portfolio.
MM is long and bullish FCX
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