Movement Alert｜Freeport-McMoRan Falls 3.08% in Pre-Market Trading, UBS Cuts Price Target While Maintaining Buy

Market Focus10-30

On October 30, Freeport-McMoRan fell 3.08% in Pre-Market Trading, trading at $64.5 per share, with turnover of $144,900.

The clearest recent catalyst is an analyst action: UBS lowered its price target on Freeport-McMoRan to $85 from $88 while maintaining a Buy rating, a move that may weigh on short-term sentiment even though the rating was unchanged.

That target revision followed a strong quarterly report released earlier this week. Freeport-McMoRan posted third-quarter revenue of $7.55 billion and adjusted EPS of $0.88, both above consensus, with copper production of about 832 million pounds and gold production of about 234,000 ounces. Management also said the world requires significantly more copper, underscoring a constructive longer-term industry backdrop.

(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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