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  5. ZMT: What are your thoughts on FCX/FM long term (any favourites? [BMO Equal Weight Global Base Metals Hedged to CAD Index ETF]
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Q: What are your thoughts on FCX/FM long term (any favourites?) I currently own FCX and ZMT.
Is 5i bullish on copper? If yes, what are your favourite ways to play it for a long-term hold. Are the names above reasonable?

Asked by Stefano on February 23, 2021
5i Research Answer:

Our favourites are LUN, ERO, FCX and TECK.B. FM is highly leveraged and may do the best in a rally, but leverage works the other way as well, of course. We are 'mildly' bullish. The sector has rallied hard, but we still need to see more global economic strength we think to see this rally sustained. We think it will happen, but may be slower than investors expect.