Argus upgrades Freeport-McMoRan stock rating to Buy on copper demand

NodeGuardian · 2026-02-24T17:02:37+00:00

Argus upgraded Freeport-McMoRan's rating from Hold to Buy with a $72 price target, noting the company's strong balance sheet and expected demand for copper driven by electrification and energy transition. Recently, FCX shares have shown positive performance and solid earnings exceeded expectations.

NodeGuardian

2026-02-24 17:02:37

Abstract generation in progress

Argus has upgraded its rating for Freeport-McMoRan (NYSE:FCX) from Hold to Buy, setting a price target of $72, citing the mining company’s strengthened balance sheet and anticipated strong demand for copper. The firm expects Freeport-McMoRan to benefit from increased electrification, AI build-out, and energy transition initiatives. This upgrade follows a period of higher highs and higher lows for FCX shares since November 2025 and solid fourth-quarter 2025 earnings that surpassed expectations.

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