Copper's importance to the clean energy transition and the digital economy can't be overstated. Electric vehicles (EVs) require multiple times more copper than internal combustion engines, and the industrial metal is widely used in renewable energy farms. Moreover, copper is a critical component of the transmission and distribution networks needed to connect renewable energy to the grid and to support the growth of smart buildings and infrastructure.

These arguments are music to the ears of copper bulls, and if you are one of them, then it makes sense to look closely at buying stock in Freeport-McMoRan (NYSE: FCX). 

Freeport-McMoRan also mines gold and molybdenum, and while their share of revenue bounces around a bit due to their relative price movements, copper tends to represent three-quarters of the company's revenue. As such, its earnings and cash flow are sensitive to movements in the price of copper.

Continue reading

Source Fool.com