Freeport-McMoRan Stock: Buy, Sell, or Hold?
Shares of Freeport-McMoRan (NYSE: FCX[1]) have been in a general upward trend since early 2020. That rise coincided with a rise in the price of copper. This is exactly the dynamic that investors need to consider as they weigh the buy, sell, or hold decision around Freeport-McMoRan, one of the world’s largest copper miners.
Let’s explore which of these three options might work best for you. Copper[2] isn’t a precious metal, like gold and silver. It is an industrial metal with all sorts of uses thanks to its ability to conduct electricity, its resistance to corrosion, and its thermal conductivity characteristics.
Being malleable helps, too, since it can be relatively easily shaped and bent without breaking. There’s also the issue of cost, since gold[3] also conducts electricity and is malleable but is drastically more expensive. All in, the attributes of copper make it vital to the world’s increasing use of electricity to power just about everything, including cars and even airplanes.