FCX - Freeport-McMoRan

Recommended last week, the stock has surged 19% in 5 days as part of the copper breakout. Positive momentum and copper thesis remain intact.

Largest US copper producer with massive margins (cost ~$1.90/lb vs. ~$6/lb price), Grasberg ramping up, and a multi-quarter consolidation resembling a bullish breakout pattern ready to explode higher.

Copper is breaking out on a base-on-base pattern, and Freeport is the largest US copper producer, so profits should rise faster than copper prices. He entered long at $66 with a stop around $60.5.

Long-term bullish on copper, but chart is not ready for a swing trade. Needs tighter consolidation.

Shallowing pattern, needs to firm up and break out. Copper tied to infrastructure and AI, but sensitive to geopolitics.

Freeport-McMoRan is mentioned as a valuation comparison — it did $26B in revenue but is valued at only $100B, which is 17.5x less than SpaceX's valuation. Used to illustrate how absurd SpaceX's valuation is relative to real businesses.

Described as the world's largest publicly traded copper producer with global operations. The host states that if AI-driven copper demand rises, Freeport-McMoRan benefits immediately. He emphasizes that NVIDIA needs the copper FCX produces, calling it 'key' and noting the company has significant room to grow.

Largest copper miner in the US. Copper is extensively used in AI data centers and anything requiring power. Stock has clean consolidation pattern with resistance at $70, showing absorption and compression. Every breakout in FCX has worked beautifully over the past 1.5-2 years. Buy point at $72 with 8-10% stop.

Great fundamental play tied to copper price. Setting up for another run off the moving averages. Ross sees copper as the commodity of the decade.

The stock is showing a strong bullish pattern and is positioned to benefit from the tightening copper market.