ICOP: Copper Great, But Iron Ore A Bit More Downside Exposed [Seeking Alpha]
iShares Copper and Metals Mining ETF (ICOP)
Company Research
Source: Seeking Alpha
ICOP's 27.46x P/E is driven by copper stocks, reflecting high valuations associated with the well-understood electrification trends and spot price lift due to tariff speculation. Copper remains strong due to electrification demand and supply constraints, while iron ore faces headwinds from Chinese pressure on iron ore sellers as the major global steel producer. Other than some supply considerations—that only low-hanging-fruit copper mines have been taken advantage of—the quite high P/Es for ICOP and copper picks limit value. FabrikaCr/iStock via Getty Images The iShares Copper and Metals Mining ETF ( ICOP ) is obviously significantly exposed to copper with exposures like Freeport-McMoRan ( FCX ), but also other mining majors like Anglo American ( NGLOY ) and BHP Group ( More on my IG service Thanks to our global coverage, we've ramped up our global macro commentary on our marketplace service here on Seeking Alpha, The Value Lab . We focus on long-only value ideas, where w
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