Copper has been on fire, touching $10,000 per ton this week . Will McDonough, CEO of merchant bank Corestone Capital, says he has "not seen this level of interest and conversation on copper." "Copper is going through some serious spikes and prices are likely to be much higher in the future. I think it is the biggest investment opportunity right now and a large contributor to demand is the transition towards carbon neutral and net zero goals," he told CNBC Pro on April 25.
And with the whole battery and electrification movement, there is going to be so much demand for lithium and copper that the company can benefit from," the investment manager said. McDonough's optimism on SQM comes despite a 31.2% dip in its shares in the last 12 months. "It is a great company and we track it very closely," he said. FactSet data shows that 12 analysts have a buy or overweight rating on SQM, four give it a hold rating, and one is underweight.
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