BNP Paribas Hikes Freeport-McMoRan Target, Cuts Newmont Outlook

Key Facts

1BNP Paribas raised Freeport-McMoRan (FCX) price target to $82 from $71, maintaining an Outperform rating.

2BNP Paribas lowered Newmont (NEM) price target to $111 from $128, maintaining a Neutral rating.

3B. Riley adjusted ClearPoint Neuro (CLPT) price target to $30 from $20, maintaining a Buy rating.

Amid shifting dynamics in the global commodities markets, BNP Paribas has issued significant updates to its outlook for the mining sector. The bank raised its price target for Freeport-McMoRan (FCX) to $82 from $71, maintaining an Outperform rating, while lowering its target for Newmont (NEM) to $111 from $128 with a Neutral stance. Additionally, B. Riley adjusted its target for ClearPoint Neuro to $30 with a Buy recommendation.

These revisions come as investors weigh mining stocks against industry peers; shares of Rio Tinto and BHP are trading at varied levels reflecting volatility in copper and gold prices. Per market data, the optimism for Freeport-McMoRan is rooted in strong copper demand expectations, whereas the cautious view on Newmont reflects rising cost pressures in the gold production sector despite prices remaining at historically elevated levels.

Regarding current levels, FCX stood at $70.13 (close June 15, 2026), while NEM closed at $105.67 (close June 17, 2026). Traders should watch for macroeconomic updates that could impact risk appetite; while the upcoming calendar shows no direct mining events, monitoring global industrial production and inflation data remains critical for determining the trajectory of these instruments.