Prediction: Freeport McMoRan Stock Will Soar Over the Next 10 Years. 1 Reason Why.

There's no way to avoid the elephant in the room. If the price of copper doesn't rise or stays within the current range, it won't make sense to buy copper miner Freeport-McMoRan (NYSE: FCX). That said, the investment case for the stock rests on the case for copper and some stock-specific reasons.The demand case for copper is robust and comes from the metal's importance to the clean energy transition and the electrification of everything megatrend. Electric cars, solar power, and storage, let alone the networks needed to connect renewables to the grid, imply significantly more demand for copper. In addition, data centers, industrial automation, and smart infrastructure/buildings/grids are also all part of the electrification of everything megatrend.Meanwhile, the growing difficulty of obtaining mining permits and the length of time it takes to expand production suggest that supply will struggle to catch up.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool