UBS raises price target for Freeport-McMoRan

PARAGRAPH 1 --- On May 21, 2026, UBS analyst Daniel Major raised the firm's price target on Freeport-McMoRan Inc. (NYSE:FCX) to $75 from $74, citing optimism in copper prices. Argus also recently published a bullish report on FCX, suggesting the recent weakness presents a buying opportunity.

PARAGRAPH 2 --- This move impacts the mining sector, particularly copper producers. Copper, a key metal in electric vehicle production, has seen increased demand, driving up prices. Freeport-McMoRan, with its significant copper reserves, stands to benefit. The price target increase reflects analysts' confidence in FCX's ability to capitalize on this trend.

PARAGRAPH 3 --- Next, investors should watch for Freeport-McMoRan's Q2 2026 earnings release on July 28, 2026, to see if the company's financials reflect the positive sentiment around copper. Additionally, keep an eye on copper prices, as any significant movement could drive further analyst revisions or impact FCX's stock performance.