Why is Freeport-McMoRan Inc (FCX) One of the Best Copper Stocks to Buy Right Now?

Freeport-McMoRan Inc (NYSE:FCX) is one of the best copper stocks to buy right now. JPMorgan lifted the price target on Freeport-McMoRan Inc (NYSE:FCX) to $58 from $50 while keeping an Overweight rating on the stock, adjusting price targets on the North America metals and mining group as part of its 2026 outlook.

Similarly, Deutsche Bank lifted the price target on Freeport-McMoRan Inc (NYSE:FCX) to $47 from $45 on November 26 while keeping a Buy rating on the shares. The rating update came as part of a 2026 outlook for the copper sector, with the firm telling investors in a research note that severe supply disruptions have pushed copper prices to near record levels.

BofA also lifted the price target on Freeport-McMoRan Inc (NYSE:FCX) to $58 from $50 on November 24 while maintaining a Buy rating on the shares. The firm told investors that it is refreshing its price forecasts for the North American Metals & Mining stocks under its coverage, and sees a challenging macro backdrop primarily due to the slowing commodity demand in China. However, the firm also noted that this may be offset by rebounding demand in Europe and the United States.

However, on November 19, BMO Capital slashed its price target on Freeport-McMoRan Inc (NYSE:FCX) to $47 from $48 while keeping an Outperform rating on the shares. It released the rating after the Grasberg update, stating that it reduced its estimates to take into account the updated mine and production plans. The firm added that while the updated production outlook was lower than expected and some restart risks exist, execution should be key.

Freeport-McMoRan Inc. (NYSE:FCX) is involved in the mining of copper, molybdenum, and gold. The company’s operations are divided into the following segments: North America Copper Mines, South America Operations, Indonesia Operations, Molybdenum Mines, Rod and Refining, Atlantic Copper Smelting and Refining, and Corporate and Other.

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Disclosure: None. This article is originally published at Insider Monkey.