On June 15, Freeport-McMoRan rose 4.89% in regular trading, trading at $71.4/share, with turnover of $172 million.

On the news front, multiple investment banks recently raised their target prices on the company in rapid succession. Jefferies lifted its target from $75 to $85 maintaining a Buy rating, HSBC raised its target from $72 to $75, and Scotiabank increased its target from $67 to $77 maintaining a Sector Outperform rating. Analysts broadly cite a tightening global copper supply outlook, with copper concentrate treatment charges falling below negative values, the Grasberg mine in Indonesia facing further restart delays, and an estimated annual supply deficit of 491,000 tonnes through 2030.

The copper sector rallied broadly, with peers Ero Copper up 7.6%, Taseko Mines up 6.93%, and Southern Copper up 5.07%, reflecting strong sector-wide momentum.

(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.)