Movement Alert｜Freeport-McMoRan Rises 3.36% in Regular Trading, Goldman Sachs Raises Target Price to $75 as Copper Sector Strengthens

Market Focus06-02

On June 2, Freeport-McMoRan rose 3.36% in regular trading, trading at $69.67/share, with trading volume of $162 million.

On the news front, Goldman Sachs raised its target price on the company from $68 to $75, maintaining a buy rating. UBS had previously also raised its target price to $75. Analysts noted that global copper supply-demand tightness remains unresolved, with copper concentrate processing fees persisting at historically rare negative levels. Additionally, Grasberg's full-capacity operation timeline has been delayed to early 2028, further supporting copper price upside expectations from the supply side.

Within the Copper sector, the broader group continued to strengthen. Among peers, Southern Copper Corp rose 2.17%, Taseko Mines rose 2.03%, and Ero Copper rose 0.64%, reflecting clear 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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