Copper Prices Soar, But Freeport-McMoRan Still a Top Pick for Investors

Copper prices have hit an all-time high, but that doesn't mean investors should be cautious about buying Freeport-McMoRan stock. In fact, the company's multiple growth initiatives and expansion projects make it a great value for copper bulls and those agnostic in the commodity's pricing alike.

The price of copper recently reached $6.51 per pound, which translates to about $18.25 billion in earnings before interest, tax, depreciation, and amortization (EBITDA) and $14 billion in operating cash flow (OCF) for Freeport-McMoRan.

Despite the favorable copper price, management estimates that the company's EBITDA will be around $13 billion at a copper price of $5 per pound and $16.5 billion at a copper price of $6 per pound in 2027/2028.