Opinions
Larry Berman CFA, CMT, CTA
Global X Copper Miners ETF
COPX-N
BUY
Jan 11, 2021
A great way to play copper. It is a diversified way to play it. There is a lot of room to run. A move to electrification will continue to raise demand.
$32.690
Stock price when the opinion was issued
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BUY ON WEAKNESS
Don't make a single bet too big. You can tilt towards base metals. He trades in and out. Buyers in dip in March and now he is trimming as he goes higher. Buy the dips. There will be volatility in the sector. The theme has more legs for years. There are constraint issues due to the timeline of exploration to production, which takes years.
E.T.F.'s
BUY
Likes commodities and the cyclical space. Lots of analysts and firms are ratcheting up expectations of a decade or more of commodity firmness. An ETF would make sense, like COPX. Includes BHP, FCX, TECK.B, and Glencore. Geographic allocation is 30% Canada, 8% Japan, remaining in the rest of the world. Levered to expanding global economy. 65 bps MER.
E.T.F.'s
PARTIAL BUY
Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research
We like COPX if the goal is to add copper mining exposure. ICOP is more diversified into other metals and mining so there will be other exposure that may not be desired. COPX also provides a slightly higher yield while ICOP is a much newer fund.
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