Insights: Bullish Copper Stocks
• Copper stocks present an attractive pullback opportunity. Following up on our Nov. 8 Insights report, when names like FCX were still approaching breakouts from cyclical bottom patterns, we are seeing “second chance†opportunities to enter a leadership theme. Long-term charts still suggest this Group is in the early phase of a cyclical reversal. Take advantage of weakness.• For ETF-focused investors, the Global X Copper Miners fund (COPX; below) mirrors the technical action in our Copper Group. Buy.
• In today's report we highlight actionable set-ups in FCX, HBM, and SCCO. Buy.
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Freeport-McMoRan is a holding company. Through its subsidiaries, the company is a mining company. The company operates assets with proven and probable reserves of copper, gold and molybdenum, and the company is a publicly traded copper producer. The company's portfolio of assets includes the Grasberg minerals district in Indonesia, copper and gold deposits; and mining operations in North America and South America, including the Morenci minerals district in Arizona and the Cerro Verde operation in Peru. The company has organized its mining operations into four primary divisions: North America copper mines, South America mining, Indonesia mining and Molybdenum mines.
Vermilion Research delivers timely, actionable, and unique research inputs to professional investors. Our research strategists highlight securities which we believe are at major inflection points, based on our various proprietary technical indicators, and offer asymmetric risk/return profiles. We believe our research methodology, which is not limited by industry sector or market capitalization, enables us to deliver superior investment recommendations.
Our process begins by organizing all actively traded stocks into coherent sectors, then into logical industry groups. We then apply our proprietary relative strength tools to identify developing price trends. Once attractive trends are identified within a selected sectors or groups, we screen for individual stocks which we believe offer the best risk/reward profile. Vermilion offers U.S. and global equity market research products. Vermilion’s research team, which has received numerous awards and accolades, has a combined 70 year of experience in the analysis of investment securities.
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