On June 12, Freeport-McMoRan rose 3.01% in regular trading, trading at $67.51/share, with turnover of $56.31 million. The move was driven by HSBC raising its target price from $72 to $75, adding to recent bullish momentum from multiple institutional upgrades.

Earlier, Jefferies significantly raised its target price from $75 to $85, maintaining a buy rating, citing expectations that LME copper prices will rise to $6.50 per pound by 2027. Analysts pointed to delayed full production at the Grasberg mine in Indonesia, weak Chilean output, and copper concentrate treatment charges falling below negative $100 per dry ton, projecting a global copper supply deficit averaging 491,000 tons annually through 2030.

The broader copper sector rallied in tandem, with Southern Copper Corp up 2.25%, Taseko Mines up 1.82%, and Ero Copper up 1.34%, reflecting a clear sector-wide linkage effect driven by persistent supply-demand tightness expectations.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)