UBS Raises its Price Target on Freeport-McMoRan (FCX) to $74

On April 24, 2026, UBS raised its terms people connected Freeport-McMoRan Inc. (NYSE:FCX) to $74 from $66 and maintained a Buy rating. Meanwhile, Morgan Stanley took a much cautious stance, downgrading Freeport-McMoRan Inc. (NYSE:FCX) to Equal Weight from Overweight portion cutting its terms people to $66 from $70. The steadfast said the semipermanent outlook for the Grasberg Mine remains intact, but a slower accumulation ramp-up and temporarily higher costs are apt to measurement connected shares successful the adjacent term. Morgan Stanley besides lowered estimates to bespeak reduced output from Indonesia and said the banal present offers a much balanced risk-reward profile.

On April 23, 2026, Jefferies lowered its terms people connected Freeport-McMoRan Inc. (NYSE:FCX) to $75 from $76 portion maintaining a Buy rating. The steadfast updated its exemplary to bespeak changes to Grasberg guidance and estimated a antagonistic $2.2 cardinal interaction connected nett contiguous value. Jefferies said betterment volition instrumentality time, but inactive sees Freeport arsenic a semipermanent mode to summation vulnerability to rising copper prices.

Also connected April 23, Freeport reported Q1 adjusted EPS of 57 cents, beating statement estimates of 47 cents, portion gross roseate to $6.23 cardinal from expectations of $5.96 billion. CEO Kathleen Quirk said the institution delivered higher revenue, currency flow, and net contempt reduced capableness successful Indonesia and remains focused connected safely restoring operations astatine Grasberg, improving ratio crossed its Americas operations, and advancing its semipermanent maturation pipeline.

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Freeport-McMoRan Inc. (NYSE:FCX) mines copper, gold, molybdenum, silver, and different metals crossed North America, South America, and Indonesia.

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