Copper Price Surge Sends Freeport-McMoran Stock Soaring to New High

Freeport-McMoran Copper & Gold (FCX) stock surged to a fresh 52-week high, reaching $76.72 in morning trading as copper prices hit record levels.

The company's share price jumped 7.5% on the news, building on its multi-week run that has seen it more than double from its 52-week low of $35.15.

FCX is the largest American copper miner and a direct proxy for the red metal's historic rally.

Copper prices have been breaking records throughout August, driven by a deepening global supply squeeze, declining refined output from China due to concentrate shortages, and uncertainty around pending U.S. tariff decisions on copper imports.

The company's recent Q2 2026 earnings report, which saw adjusted earnings of $0.74 per share and revenue of $7.03 billion, exceeded analyst estimates and confirmed the flow-through of elevated copper prices to the bottom line.