Commodities
Freeport-McMoRan Stock Rises 5.3% Amid Copper Demand Boom
Freeport-McMoRan stock gained 5.3% on September 8, 2026, closing at $76.62 on the NYSE and reaching a price near its 52-week high of $80.24.
The copper rally has contributed significantly to the stock's growth, with investors betting on increased demand for the metal driven by trends in artificial intelligence and electrification.
Despite this positive trend, Bernstein reduced its price target for Freeport-McMoRan from $50 to $47 per share while maintaining a Market Perform rating. This suggests that the shares are trading above fair value despite strong copper fundamentals.