auminer

Freeport-McMoRan Is Overvalued

FCX is undervalued here simply on copper valuations. Copper supply/demand has never been tighter, and with China's rampant growth along with a growing need for India to build an infrastructure, there are no signs of copper demand slowing. Throw in high gold prices, the Climax molybdenum mine restart and you've got a recipe for continued growth. We might take some short-term licks since most, like you, feil to truly grasp the situation. But the stock will continue to vastly outperform the market, along with a possible deus ex machina from RTP, BHP, RIO, or Chalco.