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Home/News Feed/Copper rally to $100 forecasted but pullback prompts one trader to buy the dip with a clear exit plan.
FCX
$72.78
+$0.20 +0.28%

Copper rally to $100 forecasted but pullback prompts one trader to buy the dip with a clear exit plan.

Market News
04 Sep 2026
24/7 Wall Street
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Bullish
Copper rally to $100 forecasted but pullback prompts one trader to buy the dip with a clear exit plan.

Jim Cramer predicted copper prices could reach $100 following a breakout above $75.74, but the breakout quickly failed, causing a pullback in Freeport-McMoRan (FCX) shares. Despite this, portfolio manager Kevin Simpson is buying the dip, citing strong demand from electrification and data center buildouts. Simpson has a clear exit strategy: if the Federal Reserve raises rates in the coming months, he will abandon the trade. The outlook depends on copper supply ramp-ups and Fed policy, with copper demand expected to grow significantly due to electrification and AI infrastructure needs.

More News (FCX)

Freeport-McMoRan offers strong copper exposure with operational gains and attractive valuation.

Freeport-McMoRan offers strong copper exposure with operational gains and attractive valuation.

Freeport-McMoRan (FCX) provides direct exposure to copper with ongoing operational recovery at its Grasberg mine in Indonesia. The stock trades at a forward EBITDA multiple of 5.5x, below its historical average of 8.25x, with free cash flow yield exp...

Analyst Insights
Bullish
3 days ago
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