Barclays Calls Freeport-McMoRan (FCX) Most Underappreciated Growth Story in US Metals & Mining Sector

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Shares of Freeport-McMoRan (NYSE: FCX) are underperforming the broader stock market Monday morning despite a bullish note from Barclays' David Gagliano earlier. The stock last traded at $37.88, down about 0.6 percent from Friday's close. The Dow and S&P 500 are currently down 0.2 percent and 0.45 percent, respectively.

Gagliano recommended investors overweight shares of Freeport as he believes the company is the most underappreciated growth story in the entire US metals and mining group. The analyst believes Freeport shares should be trading around $60 today.

The Barclays analyst maintains a $63 price target on Freeport-McMoRan shares.

Visit our Analyst Ratings page to track all the market-moving analyst action on shares of Freeport-McMoRan.

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