Freeport-McMoRan rises; Trump to impose 50% tariff on copper

** Shares of U.S. copper miner Freeport-McMoRan FCX.N rise 3.58% to $47.22 premarket

** U.S. President Donald Trump on Wednesday announced a new 50% tariff on copper to start on August 1

** J.P.Morgan analysts in a note said FCX is their "top pick" and should be a "core holding" for those seeking copper exposure

** JPM hikes PT on the stock to $56 from $42, which is a 22.83% upside to its last close

** FCX up ~20% YTD