Freeport-McMoRan: BMO Sees Long-Term Value, Lowers Target Slightly After Q2

Freeport‑McMoRan (NYSE:FCX) is one of the best commodity stocks to buy, even as BMO Capital trims short‑term expectations. On July 23, 2025, BMO reduced its price target to $54 from $55 while maintaining its Outperform rating on the stock, noting that the company delivered a “well‑executed quarter” despite a cut to its 2025 gold production forecast.

BMO analyst Katja Jancic emphasized that U.S. operations remain poised to benefit from cash flow tailwinds, even if tariffs weigh on the horizon, and that the stock appears attractively valued at roughly 6 times estimated 2026 EBITDA, or closer to 5 times if a 25 percent tariff is introduced.

Freeport-McMoRan: BMO Sees Long-Term Value, Lowers Target Slightly After Q2

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Freeport‑McMoRan (NYSE:FCX) is headquartered in Phoenix, Arizona. it’s a globe‑spanning mining giant renowned for its vast, low‑cost copper assets alongside meaningful gold output, serving as a backbone of global copper and gold supply.

While we acknowledge the potential of FCX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than FCX and that has 100x upside potential, check out our report about this cheapest AI stock.

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