Freeport-McMoRan Stock News

Morgan Stanley upgraded Freeport-McMoRan Inc (NYSE:FCX) to "overweight" from "equal weight," while simultaneously slashing its price target to $48 from $54 this morning.

Freeport-McMoran Inc (NYSE: FCX) has already soared nearly 40% over the past four months, but a senior Morgan Stanley analyst remains convinced the stock is not out of juice just yet.

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Freeport-McMoRan (FCX 3.12%) shares were down by almost 10% during the week to Thursday at noon. The decline stems from the Trump administration's decision to exempt refined copper imports from 50% tariffs.

Key Points in This Article: President Trump's decision to limit copper tariffs to semi-finished products caused a sharp price drop, impacting U.S.

The tariff uncertainties have triggered the higher copper stockpiling and spot prices, which consequently contributed to FCX's robust FQ2'25 numbers on a QoQ/ YoY basis. Even so, the management has unceremoniously lowered their FY2025 sales volume guidance, with the headwinds Grasberg ore grade revision negating the commodities' higher futures contracts. While FCX may tout a $1.7B benefit arisi...

Freeport-McMoRan is a compelling buy, due to strong copper demand, limited new supply, and a leading market position supporting a long-term bull thesis. Financial performance is robust, with rising margins, solid profitability, and shares trading at a discount to peers, despite superior scale and asset quality. My DCF and comparative analysis indicate a fair value of $50 per share, offering 11-...