Movement Alert｜Freeport-McMoRan Rises 3.09% in Regular Trading, Q2 Earnings Beat Expectations by 25% as Multiple Banks Raise Price Targets

Market Focus08-07

On August 7, Freeport-McMoRan rose 3.09% in regular trading, trading at $69.88/share, with turnover of $104 million.

On the news front, the company's previously released Q2 earnings significantly exceeded market expectations, with adjusted EPS of $0.74 versus the consensus estimate of $0.59, representing a 25% beat. Revenue came in at $7.029 billion, approximately 4.8% above expectations. Following the earnings release, Barclays raised its price target to $80, Bank of America Securities raised to $80, RBC raised to $73, and Goldman Sachs maintained its Buy rating.

Additionally, copper demand continues to be supported by intensifying global AI data center infrastructure competition. The broader copper sector attracted capital inflows, with peers Southern Copper Corp up 2.83% and Ero Copper up 3.73%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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