01:20 AM EDT, 05/01/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We cut our 12-month target by $2 to $48, on an EV/EBITDA of 6.5x our 2026 EBITDA estimate, below FCX's three-year avg. forward EV/EBITDA of 6.9x and a discount to peers' avg. forward EV/EBITDA of 6.8x. We cut our 2025 adj. EPS estimate by $0.21 to $1.56 and our 2026 EPS forecast by $0.24 to $2.09. FCX posted Q1 adj. EPS of $0.24 vs. $0.32, $0.01 above consensus; Q1 sales dropped 9.4% Y/Y but beat consensus by 4.8%. FCX is targeting a 40% increase in its leach production rate to 300 million pounds of copper annually by end-2025, with a long-term goal of 800 million pounds annually by 2030. We think this initiative, which should enhance margins and profitability, is underestimated by the market. The Indonesian smelter repair process is ahead of schedule, with startup planned for end-May. FCX guides for sales volumes of 4 billion lbs. of copper, 1.6 million oz. of gold, and 88 million lbs. of molybdenum, and estimates that proposed tariffs could increase the cost of goods it purchases in the U.S. by around 5%.