Movement Alert｜Freeport-McMoRan Falls 4.85% in Regular Trading, UBS Cuts Price Target but Maintains Buy Rating

Market Focus10-30

On October 30, Freeport-McMoRan fell 4.85% in Regular Trading, trading at $63.27 per share, with turnover of $90.14 million.

The clearest recent catalyst was an event-driven update: UBS lowered its price target on Freeport-McMoRan to $85 from $88 while maintaining its Buy rating, a revision that appears to have weighed on near-term sentiment despite the unchanged positive stance.

The pullback came shortly after the company reported third-quarter revenue of $7.55 billion and adjusted EPS of $0.88, both above consensus, alongside copper production of 832 million pounds and gold production of 234,000 ounces. Management also said the world requires more copper, underscoring a constructive long-term demand backdrop, but the latest target-price cut likely pressured the shares after the earnings release.

(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.)

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