Inflation, Russia’s invasion of Ukraine, and rising rates are pushing up commodity stocks.
Freeport-McMoRan Inc (FCX)
From FMA Trader Alert
This mining company’s share price is profiting from the trend higher in oil, copper, and precious metals.
FCX mines more copper than any other publicly traded company in the world. Its assets include the Indonesian Grasberg mining complex, the world’s largest copper and gold mine in terms of recoverable reserves. Freeport also has significant mining operations in the Americas.
This sector giant has seen strong share price performance over the past several months, and is showing strong relative price strength and momentum, thanks in part to the “NewsQ” of geopolitical tensions and rising commodity price inflation. The chart here shows just how strong the recent performance has been.
If we continue to see bullish conditions in the oil and energy space, i.e., strong consumer demand, rising prices on a combination of geopolitics and inflation, then FCX will continue its recent run higher—and we think that run is just about ready to break out again to another new high.
So, as soon as you receive this email, please take the following action:
Buy Freeport-McMoRan Inc. at market with a protective stop at $34.05.
Once again, for those willing to place a bigger bet, we recommend adding the FCX Apr $45.00 call options (FCX220414C00045000), which last traded for $2.07 and that expire on April 14, at market.
Mark Skousen & Jim Woods, FMA Trader Alert, markskousen.com, Eagle Financial, 300 New Jersey Ave. NW, Suite 500, Washington, D.C. 20001, February 22, 2022