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Investing.com - Raymond (NSE:RYMD) James has reiterated its Outperform rating on Freeport-McMoRan (NYSE:FCX) with a price target of $53.00. The $64.2 billion market cap mining giant, currently trading at $44.83, has demonstrated strong financial health according to InvestingPro analysis, with five analysts recently revising earnings estimates upward.
The research firm highlighted FCX’s portfolio of large, low-cost, long-life copper assets with significant gold production as key factors supporting the rating.
Raymond James acknowledged that FCX carries higher jurisdictional risk since one of its major assets, Grasberg, is located in Indonesia.
The firm noted that the 2018 transaction between FCX and the Indonesian government has improved the risk profile of the Grasberg asset.
Freeport-McMoRan remains positioned to offer investors exposure to copper, a metal that plays a significant role in global infrastructure and technology development.
In other recent news, Freeport-McMoRan Copper & Gold Inc reported stronger-than-expected financial results for the second quarter of 2025. The company achieved an earnings per share (EPS) of $0.54, surpassing the anticipated $0.45, which represents a 20% surprise. Revenue also exceeded expectations, reaching $7.58 billion compared to the forecasted $7.19 billion, marking a 5.42% increase. These figures highlight Freeport-McMoRan’s ability to outperform analyst predictions. Despite these positive financial results, the stock saw a decline in the pre-market session, indicating some investor caution. The company’s performance continues to be a point of interest for analysts and investors alike.
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