RBC Boosts Freeport-McMoRan Price Target to $85.00 Amid Copper Rally

Freeport-McMoRan Inc.'s stock (FCX) rose on September 17, 2026, after RBC Capital raised its price target to $85.00 per share from $73.00, citing the company's exposure to copper prices.

The New York-listed copper producer traded at around $70.90, a 2.39% gain on the day, with an intraday high of $71.58 and low of $70.29. The market capitalization stood at approximately $101.8 billion, up roughly 38% year-to-date.

RBC Capital maintained its Sector Perform rating but increased the price target based on the company's sensitivity to copper prices. According to the analyst data compiled by Dhan, around 73.33% of analysts rate Freeport-McMoRan stock as a Buy, while 26.67% hold it.

Freeport-McMoRan is the largest US-listed copper producer and has a significant exposure to copper prices, which have recently reached an all-time high of $14,694 per tonne on the London Metal Exchange. The company's management estimates that each ten-cent move in copper prices is worth approximately $390 million in annual EBITDA.