Freeport-McMoRan: Supply/Demand Imbalance For Copper Already Priced In (NYSE:FCX)

Six different metal cubes isolated on white


FCX stock P/E expanded to 37x

Copper’s supply/demand outlook has rapidly shifted from too much supply to the potential for a supply deficit recently (more on this later). After spending a few months in a price range as low as ~$3.5

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