Citigroup raises Freeport-McMoRan PT on higher copper prices

Southern

12/01/2026 13:03

** Brokerage Citigroup raises PT on copper miner Freeport-McMoRan FCX.N to $67 from $48

** New PT represents an upside of 18.5% to stock's last close

** Brokerage expects miner's fourth-quarter earnings to be positive, helped by rising copper prices; estimates quarterly core profit at $1.2 billion

** Adds results could also be a little volatile given the Grasberg closure and re-start

** In 2025, FCX gained 34%

(Reporting by Pranav Mathur in Bengaluru)

((Pranav.Mathur@thomsonreuters.com;))