RBC Capital analyst Sam Crittenden raised the firm’s price target on Freeport-McMoRan to $47 from $40 but keeps a Sector Perform rating on the shares after its "solid" Q4 earnings beat. The company is well positioned to take advantage of high copper and gold prices in 2023 and also benefit from the recent spike in molybdenum prices, though the stock already trades inline with its historic averages, the analyst tells investors in a research note.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on FCX:
- Freeport-McMoRan price target raised to $46 from $44 at Citi
- Freeport-McMoRan sees Q1 copper sales 900M lbs
- Freeport-McMoRan says positioned for ‘bright, long-term’ future
- Freeport-McMoRan expects to complete feasibilty study for Bagdad this year
- Freeport-McMoRan says continuing focus on productivity in U.S.