Stock price when the opinion was issued
Copper's been all over the place, and really down lately on a weaker China. Whole copper complex trades at a premium because they know there's this thirst for copper amid shortages. Materially paid down debt. Trades at discount (4.8) to large-cap peers (5.6). He models 40% EPS at a 31 PE.
Was risky, de-risked to a large extent. Copper's not for the faint of heart. A whippy player, but a winner if it continues to execute well and copper does well.
Tough to answer whether to buy. Impressive beat last quarter, much stronger outlook, markedly higher output in Manitoba, affirmed production guidance, positive free cashflow for 5th consecutive quarter. Nice growth. Not pricey at 18.5x 2025 earnings.
Depends on your view of copper. If you think it's going higher (partly due to Trump and partly to lackluster China), then the better view is yes, buy. He's a copper bull over time.