60%+ returns in 2025: Here’s how AI-powered stock investing has changed the game
Investing.com - BMO Capital lowered its price target on Freeport-McMoRan (NYSE:FCX) to $47.00 from $48.00 on Wednesday, while maintaining an Outperform rating on the stock. The new target still represents a 17.5% upside from FCX’s current price of $40, which sits below the average analyst target. According to InvestingPro data, analyst price targets for FCX range from $25 to $58.
The adjustment follows Freeport-McMoRan’s recent Grasberg update, which prompted BMO to reduce its estimates after incorporating updated mine and production plans into its model. This comes as InvestingPro data shows 5 analysts have revised their earnings downwards for the upcoming period.
BMO noted that Freeport-McMoRan discussed findings and mitigation strategies that should significantly reduce the risk of similar events recurring at the Grasberg operation.
The updated production outlook was described as "a bit lower-than-expected but, in our view, explainable" by the research firm, which acknowledged that some restart uncertainties and risks remain.
Despite these concerns, BMO Capital views FCX’s valuation as "compelling," noting that shares are trading at approximately 5.0 times their 2027 EBITDA estimate.
In other recent news, Freeport-McMoRan reported stronger-than-expected earnings for the third quarter of 2025. The company posted an earnings per share of $0.50, surpassing the forecast of $0.41, and achieved a revenue of $6.97 billion, exceeding expectations of $6.7 billion. These results were driven by robust copper demand and operational advancements. Additionally, Scotiabank upgraded Freeport-McMoRan from Sector Perform to Sector Outperform, despite lowering its price target to $47.00 from $51.00. This upgrade followed the completion of an investigation into a September mud flow incident at the Grasberg mine in Indonesia, providing improved clarity on the company’s multi-year outlook. These developments provide investors with significant insights into Freeport-McMoRan’s recent performance and strategic positioning.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.