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Argus reiterates Freeport-McMoRan stock Buy rating at $72 target By Investing.com
Argus has reiterated a Buy rating on Freeport-McMoRan (NYSE:FCX) and maintained a $72 price target, citing the company’s strong management, strengthened balance sheet, and benefits from high copper prices. The research firm believes that accelerating electrification initiatives and the artificial intelligence build-out will drive long-term earnings growth for the company. Despite some recent adjustments to production forecasts for the Grasberg mine by other analysts, Freeport-McMoRan delivered strong first-quarter 2026 financial results, surpassing earnings and revenue forecasts.