Movement Alert｜Freeport-McMoRan Rises 3.18% in Regular Trading, Jefferies Raises Target Price to $85 Amid Copper Sector Strength

Market Focus06-09

On June 9, Freeport-McMoRan rose 3.18% in regular trading, trading at $66.16/share, with trading volume of $94.60 million.

On the news front, Jefferies raised its target price on Freeport-McMoRan from $75 to $85, maintaining a Buy rating. This follows Goldman Sachs' earlier upgrade from $68 to $75 with a Buy rating. Institutions broadly remain bullish on the global copper supply-demand tightness, with copper concentrate treatment charges falling below -$100/dry ton, a historically rare negative territory. Additionally, the Grasberg copper mine's full-capacity timeline has been pushed back, with supply-side constraints continuing to support upside expectations for copper prices.

The broader copper sector rallied in tandem, with Southern Copper Corp up 4.45%, Taseko Mines up 2.74%, and Ero Copper up 2.30%, reflecting strong sector-wide momentum.

(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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