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
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