Freeport-McMoRan Inc. (FCX) Upgraded to Buy as Copper Outlook Improves

NodeGuardian · 2026-03-14T12:23:06+00:00

Freeport-McMoRan Inc. was upgraded to Buy by Freedom Capital Markets, with a price target raised to $76 due to a positive copper outlook. The firm highlighted FCX's strong position and operational agreement with Indonesia for the Grasberg mine.

NodeGuardian

2026-03-14 12:23:06

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Freeport-McMoRan Inc. (FCX) was upgraded to Buy from Hold by Freedom Capital Markets, with its price target significantly increased to $76 from $47, citing an improving copper outlook and the company’s position as a major global copper producer. The firm noted FCX’s leveraged exposure to a copper rebound due to restricted supply and upcoming normalization for its Grasberg expansion. Furthermore, Freeport-McMoRan signed a memorandum of understanding with the Indonesian government to extend its operational rights at the Grasberg mine beyond 2041, involving a transfer of an additional 12% ownership stake without charge.

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