Opinions Gordon Reid
Freeport McMoran Copper & GoldFCXDON'T BUYOct 24, 2012
Stock price when the opinion was issued
As of Sep 08, 2026. Market Open.
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He added more shares during this pullback in the metals. It's an opportunity. However, if there's rate hikes through the end of this year, then forget the gold trade, he will be wrong about metals. Long term there's a lot of value, and the stock is cheap.
Kevin SimpsonCopper prices are up 18% this year and 48% in the past year, booming from data centre demand. FCX is the best way to play copper. Copper stocks have pulled back recently, but Lang says are due to rebound the rest of the year. FCX's chart shows higher highs and higher lows on strong volumes. The RSI has fallen from overbought levels, so pull the trigger now. The MACD shows a bullish formation now; FCX could break out to $80, then $100. There's strong call option buying, also suggesting $100.
Copper is one of the most powerful themes in this market. Copper producers broke out, with consolidation over last several months.
Massive mine in Indonesia has been prolific. He'd be a buyer right here. Generates enormous cashflow. Estimates are going higher. Just broke out technically.
David Burrows
Is near a 52-week high. He wants yields to go lower. Money is coming out of oil and into precious metals.
Joe TerranovaSecular growth of the copper market, as copper's used more and more in today's society. Recent turmoil in Iran has boosted price of copper.
Today's earnings report was good, but the mine site of last year's tragedy won't be online as quickly as anticipated. Pretty good entry point, though expect the price to wallow for a while.
Gordon ReidLikes the momentum and the tailwind of their Indonesian mine reopening, started last October. He expects an upgrade in that operation later this year.
Joe Terranova
There's strong demand for copper while supply has tightened. Also, FCX has gold byproducts, and gold is selling high.
Julien Nono-WomdimThere are two views for copper. The cyclical one is hard to peg and it's hard to know what is going on in China. The secular view takes into account the ever increasing usage of copper which will probably double by the end of the decade due to data centres, etc. EV's use 4 times the amount of copper than conventional vehicles. Own it for the long term.
Gordon ReidIn the top 10 for copper and gold. Represents ~4% of global copper supply. Mudslide caused fatalities, mine shut down, estimated to not return to prior levels until 2027. Tightens up an already-tight market. About 35% of production comes from US, so uniquely positioned for Trump's "Made in America".
He prefers TECK and CS, for more leverage to copper.
Gold/copper producer. One of the reasons that the Fed and central banks globally are keeping rates low is to try to bolster asset and commodity prices and growth. You would think this would play into a copper and gold producer. On the other side of that is the weakening of the macro picture which is sort of depressing these companies. In the short-term, don’t expect too much. Longer-term it is going to be good for companies like this. He would tend to stay away from the whole sector.