Freeport-McMoRan's Rally Is Over—But the Bull Case Isn't

Freeport-McMoRan logo on ore at open-pit mine with copper sheets. Key Points Freeport-McMoRan’s Grasberg restructuring secures operations through 2041 but reduces its economic ownership, creating both stability and lower earnings leverage. Rising copper demand from EVs, data centers, and electrification supports the long-term bull case for FCX stock. After an 80% rally in four months, technical indicators suggest FCX stock may pull back toward the $55–$57 range before its next move higher. Interested ...