UBS raises target for Freeport-McMoRan stock from USD 77.00 to USD 88.00

Published on 10/09/2026 at 15:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Copper production reached 830 million pounds in the third quarter. Freeport-McMoRan stock is EUR 64.99 on October 9, 2026, 2.41 percent above EUR 63.46.

Key points in brief

UBS raised its Freeport-McMoRan price target from USD 77.00 to USD 88.00 on October 8, 2026.
Third-quarter 2026 copper production reached 830 million pounds, while Grasberg recovery remained central to the outlook.
Freeport-McMoRan stock was trading at EUR 64.99 at Lang & Schwarz on October 9, 2026, plus 2.41 percent versus the prior close.
The company declared a USD 0.15 per-share dividend payable on November 2, 2026.

Schwarzweiß-Reportage von Bergarbeitern mit Schutzhelmen auf einer Tagebaustraße — Freeport-McMoRan US35671D8570 – Bergarbeiter in Schutzausrüstung gehen auf staubiger Grubenstraße, dokumentarische Schwarzweiß-Reportage aus dem Bergbau, Illustration mit AI erstellt.

UBS raised its Freeport-McMoRan price target from USD 77.00 to USD 88.00 on October 8, 2026, while keeping a Buy rating, according to Markets Insider. The revision places copper demand and the recovery of Freeport-McMoRan's Grasberg mine at the center of the investment case.

Three dated signals for FCX

On September 23, 2026, Freeport-McMoRan declared a USD 0.15 per-share quarterly dividend, split equally between a USD 0.075 base dividend and a USD 0.075 variable dividend. On October 2, 2026, the company reported third-quarter copper production of 830 million pounds and gold production of 230,000 ounces in its operational update, according to Freeport-McMoRan. On October 8, 2026, UBS set the USD 88.00 target reported by Markets Insider.

What does Grasberg mean for output?

Freeport-McMoRan said third-quarter mill throughput at Grasberg averaged 140,000 metric tons of ore per day, equal to 67 percent of normalized rates before the September 2025 incident. The company continues to expect the mine to reach 80 percent of capacity in mid-2027 and approach full capacity by year-end 2027.

The operational update also highlighted a counter-factor: gold sales for the third quarter were expected at 100,000 ounces, below the July estimate because 60,000 ounces of refined gold sales moved into the fourth quarter. Unit net cash costs were expected to be 5 percent above the July estimate of USD 2.00 per pound of copper.

Next dates and latest reported figures

Freeport-McMoRan's next two dated events are the October 15, 2026, shareholder record date for the dividend and the October 27, 2026, release of third-quarter earnings before the market opens, followed by a 10:00 a.m. Eastern Time conference call, according to Freeport-McMoRan.

For comparison, Freeport-McMoRan reported USD 7.03 billion in revenue for the quarter ended June 30, 2026, against a USD 6.62 billion consensus estimate, according to MarketBeat. That comparison gives the October 27 earnings release added importance because the market will measure operating recovery against both production and earnings expectations.

EUR 64.99 in trading

Freeport-McMoRan stock was trading at EUR 64.99 at Lang & Schwarz on October 9, 2026, at 3:38 p.m. CEST, up 2.41 percent versus the Lang & Schwarz prior close of EUR 63.46 on October 8, 2026. On the NYSE, the stock was last at USD 73.17 on October 9, 2026, with a 52-week range of USD 38.54 to USD 80.24 and a market capitalization of USD 105.2 billion.

The further course of trading is shown by the continuously updated real-time quote of Freeport-McMoRan stock.