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Home/News Feed/Freeport-McMoRan offers strong copper exposure with operational gains and attractive valuation.
FCX
$72.80
+$0.22 +0.30%

Freeport-McMoRan offers strong copper exposure with operational gains and attractive valuation.

Analyst Insights
01 Sep 2026
Seeking Alpha
View Source
Bullish
Freeport-McMoRan offers strong copper exposure with operational gains and attractive valuation.

Freeport-McMoRan (FCX) provides direct exposure to copper with ongoing operational recovery at its Grasberg mine in Indonesia. The stock trades at a forward EBITDA multiple of 5.5x, below its historical average of 8.25x, with free cash flow yield expected to increase from 1.78% to nearly 8%. Operational improvements and by-product credits support cash flow growth, though risks remain from license renewals and copper price fluctuations. The analyst recommends adding FCX shares targeting $108 if license clarity or approvals occur, while suggesting trimming positions if copper prices fall below $5 or licensing delays continue.

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