Citi raises target for Freeport-McMoRan stock to USD 84.00

Published on 10/14/2026 at 10:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Citi's target rose from USD 66.00 to USD 84.00 on October 5, 2026. Freeport-McMoRan stock costs EUR 64.56 on October 14, 2026.

Copper output and analyst target

Citi raised its Freeport-McMoRan target from USD 66.00 to USD 84.00 on October 5, 2026.
Freeport-McMoRan reported 830 million pounds of copper production for the third quarter of 2026.
Freeport-McMoRan stock traded at EUR 64.56 at Lang & Schwarz on October 14, 2026 at 10:01 a.m. CEST.

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Freeport-McMoRan (ISIN US35671D8570) was trading at EUR 64.56 at Lang & Schwarz on October 14, 2026 at 10:01 a.m. CEST, while Citi raised its price target from USD 66.00 to USD 84.00 on October 5, 2026. According to Markets Insider, the bank kept its Buy rating and linked the increase to progress at Grasberg and its medium-term copper outlook.

Three dates define the setup

The latest operational signal came on October 2, 2026. In its release, Freeport-McMoRan reported third-quarter copper production of 830 million pounds and expected copper sales of 750 million pounds. Gold sales were expected at 100 thousand ounces, below the July estimate because 60 thousand ounces of refined gold sales moved into the fourth quarter.

The chronology reaches back to July 23, 2026, when second-quarter revenue came to USD 7.03 billion and adjusted earnings per share reached USD 0.74, compared with a USD 0.59 consensus estimate, according to Investing.com. On October 5, Citi then lifted its target to USD 84.00 from USD 66.00, making the analyst revision the most recent dated event.

What does the ramp-up mean for output

Freeport-McMoRan said third-quarter mill throughput at Grasberg averaged 140,000 metric tons of ore per day, including 70,000 metric tons from the Block Cave. The company expects to reach 80 percent of capacity in mid-2027 and approach full capacity by year-end 2027, but localized flooding, power outages and strong winds reduced operating rates in the United States during the quarter.

The next two dated items are also concrete. Freeport-McMoRan plans to publish third-quarter earnings before the market opens on October 27, 2026, followed by a conference call at 10:00 a.m. ET, while a quarterly dividend of USD 0.0750 per share is scheduled for November 2, 2026, according to MarketBeat. For investors, the central operating question is whether the Grasberg recovery can convert higher copper prices into the expected production ramp.

Stock price and upcoming dates

Freeport-McMoRan was trading at EUR 64.56 at Lang & Schwarz on October 14, 2026 at 10:01 a.m. CEST. The NYSE-listed stock had a USD 104.1 billion market capitalization and a USD 38.54 to USD 80.24 52-week range as of October 13, 2026. The further course of trading is shown by the continuously updated real-time quote of Freeport-McMoRan stock.