BUZZ-BMO lifts PT on copper miner Freeport-McMoRan

Reuters
Jan 14
BUZZ-BMO lifts PT on copper miner Freeport-McMoRan

** BMO Capital Markets raise PT on copper miner Freeport-McMoRan FCX.N to $68 from $55

** The new PT represents an upside of 14.59% to stock's last close

** Brokerage says FCX's North and South American operations are well positioned to benefit from strong pricing trends, with profitability shifting away from Indonesia also supporting free cash flow

** Brokerage says FCX shares have rebounded, but at current spot prices the stock still looks attractive compared to peers

** ** "FCX's earnings are, unsurprisingly, expected to decrease quarter on quarter on lower copper/gold volumes tied to Grasberg incident, with Q4 2025 marking a trough earnings quarter" - BMO

** 18 of 23 brokerages rate the stock "buy" or higher, 5 "hold" , median PT is $56 - LSEG data

** FCX rose 34.08% in 2025

(Reporting by Varun Sahay in Bengaluru)

((Varun.sahay@thomsonreuters.com))

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