In a report released yesterday, Lawson Winder from Bank of America Securities maintained a Buy rating on Freeport-McMoRan, with a price target of $50.00.
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Lawson Winder has given his Buy rating due to a combination of factors, primarily driven by Freeport-McMoRan’s strong financial performance and strategic positioning. The company reported a significant beat in its Q3’25 adjusted EBITDA compared to both Bank of America and consensus forecasts, largely due to lower-than-expected unit net cash costs and higher production volumes. This performance indicates robust operational efficiency and cost management, which are critical in maintaining profitability, especially in the volatile commodities market.
Additionally, despite the temporary setback caused by the Grasberg mud rush incident, Freeport-McMoRan’s updated 2025 sales guidance aligns well with market expectations and even shows improvements in certain areas, such as gold sales. The company’s bullish outlook on copper, coupled with the current underperformance of its share price due to the incident, presents a strategic buying opportunity. Furthermore, the revised unit cost guidance and reduced capital expenditure plans post-Grasberg incident further support the Buy rating, as they suggest a proactive approach to managing unforeseen challenges while maintaining financial discipline.
Winder covers the Basic Materials sector, focusing on stocks such as Barrick Mining, Freeport-McMoRan, and Newmont Mining. According to TipRanks, Winder has an average return of 17.0% and a 57.73% success rate on recommended stocks.
In another report released on October 22, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $47.00 price target.