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Analysts Offer Insights on Materials Companies: Freeport-McMoRan (FCX) and Newmont Mining (NEM)

Tipranks - Tipranks - Sat Apr 25, 9:46AM CDT

There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Freeport-McMoRan (FCX) and Newmont Mining (NEM) with bullish sentiments.

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Freeport-McMoRan (FCX)

In a report released today, Timna Tanners from Wells Fargo maintained a Buy rating on Freeport-McMoRan, with a price target of $68.00. The company’s shares closed last Friday at $61.77.

According to TipRanks.com, Tanners is a 4-star analyst with an average return of 4.3% and a 56.0% success rate. Tanners covers the Basic Materials sector, focusing on stocks such as Martin Marietta Materials, Knife River Corporation, and Vulcan Materials. ;'>

Currently, the analyst consensus on Freeport-McMoRan is a Strong Buy with an average price target of $71.85, representing a 15.8% upside. In a report issued on April 9, TipRanks – Anthropic also upgraded the stock to Buy with a $67.00 price target.

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Newmont Mining (NEM)

In a report released today, Daniel Major from UBS maintained a Buy rating on Newmont Mining, with a price target of $140.00. The company’s shares closed last Friday at $118.48.

According to TipRanks.com, Major is a 5-star analyst with an average return of 25.9% and a 69.1% success rate. Major covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, KGHM Polska Miedz SA, and Freeport-McMoRan. ;'>

Currently, the analyst consensus on Newmont Mining is a Strong Buy with an average price target of $153.18, implying a 33.2% upside from current levels. In a report released today, TipRanks – xAI also upgraded the stock to Buy with a $123.00 price target.

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