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Investment Q&A

Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.

Freeport-McMoRan Inc. (FCX $44.35)
- $44.35 P/E (TTM): 32.98X Cap: $63.70B
- View FCX Profile
- View Questions on FCX
Teck Resources Limited Class B Subordinate Voting Shares (TECK.B $46.91)
- $46.91 P/E (TTM): 80.7X Cap: $22.71B
- View TECK.B Profile
- View Questions on TECK.B
Capstone Copper Corp. (CS $9.75)
- $9.75 P/E (TTM): 71.15X Cap: $7.35B
- View CS Profile
- View Questions on CS

Q: With all the current turbulence, what is your outlook on copper in general, and specifically Capstone? Thanks.

Asked by David on April 01, 2025

5i Research Answer:

There could be tariffs on copper, which could create some price instability and uncertainty, but we feel there are still long-term tailwinds with AI and other copper-reliant industries. CS trades at an 18.6X forward P/E, but forward growth estimates are strong. It has a good balance sheet, it has a somewhat high debt load, but it is profitable and we would be comfortable holding here, while acknowledging it is a more growthier, higher risk copper name. For more stability, we like FCX or TECK.B.

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