Trends Driving Our $21 Price Estimate For Freeport-McMoRan

Freeport-McMoRan Inc. is a diversified natural resources company which mainly produces copper, in addition to crude oil, natural gas, and their by-products. The company's stock price had been under pressure over the past few months largely due to the subdued pricing environments for both copper and crude oil. However, there has been a marginal recovery in prices and the future outlook for both copper and crude oil, which has boosted the company's prospects. As a result, we have revised our price...