Ignace Proot, an analyst with Sanford C. Bernstein & Co. LLC, says Freeport McMoRan Copper & Gold (FCX)’s stock price does not reflect the value of the company’s reserves.
“Within my coverage when I compare my fundamental DCFs or discounted cash flow model derived price targets with where the stocks are trading today, the largest upside is actually for Freeport and that’s really because the market today is not recognizing the value of all the reserves that they are having,” Proot says.
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Additionally, Proot says Freeport McMoRan is a good stock for investors who want exposure to copper.
“[Copper] is a very bullish commodity, it’s only 4% to 5% price growth per year compared to zinc which is more than double, but it’s still substantial,” Proot says.
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