Should You Buy Freeport McMoRan While It's Below $50?

After being above $50 recently, copper, gold, and molybdenum miner Freeport McMoRan's (NYSE: FCX) stock has dipped to about $46.60 at the time of writing. Frankly, this looks like a good buying opportunity in a stock with plenty of long-term potential upside. Here are four reasons why.Read no further if you aren't bullish or at least agnostic about the outlook for the price of copper -- Freeport's most important metal that it mines. The latter applies because, based on the current price of copper of about $4.30 per pound, Freeport McMoRan is an attractively priced stock.Every quarterly results presentation, management lays out its projections for earnings before interest, taxation, depreciation, and amortization (EBITDA) based on the price of copper. Based on the latest forecast and the current price of about $4.30 per pound, Freeport McMoRan will generate about $12.2 billion in EBITDA in 2025/2026. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool