Erste Group Starts Freeport-McMoRan (FCX) at Buy

Erste Group analyst Hans Engel initiates coverage on Freeport-McMoRan (NYSE: FCX) with a Buy rating.

The analyst comments "The Group expects production volumes for copper and gold to continue to decline in 2026 due to the gradual ramp-up of production in Indonesia. Molybdenum is primarily mined as a byproduct in open-pit mines in North and South America and benefits from stable primary production. Management forecasts operating cash flow of USD 8.3 billion for 2026, based on currently conservative assumptions regarding the prices of metals important to Freeport-McMoRan, such as copper and gold. Revenue and profit growth this year and next will be significantly above the sector average. We therefore expect the stock’s upward trend to continue."

For an analyst ratings summary and ratings history on Freeport-McMoRan click here. For more ratings news on Freeport-McMoRan click here.

Shares of Freeport-McMoRan closed at $79.00 yesterday.

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