Are Material Stocks Still A Buy (X, FCX)

Materials have had an incredible run, from companies like Freeport McMoran FCX to BHP Billiton BHP to Rio Tinto RIO. But are they still a buy? At first glance, these companies aren't trading at absurd valuations, and with easy monetary policy, these commodity runs can continue. FCX recently just doubled its dividend, and many analysts have said it could've doubled it again with no problem. Cash is flowing into these companies, and while no one can pick a top or a bottom, the trend remains buy these types of companies until it's wrong. Disclosure: no positions