An analyst at Canaccord Genuity said that the miner may bid for the company, which is evaluating bids from Equinox Minerals and Inmet.
Freeport-McMoRan has a potential upside of 24.4% based on a current price of $51.81 and an average consensus analyst price target of $64.44.
Freeport-McMoRan (NYSE:FCX) may seek a Lundin takeover, according to a Bloomberg report.
