Freeport-McMoran Copper & Gold Soars to New High on Record Copper Prices

Freeport-McMoran Copper & Gold's stock surged to a fresh 52-week high of $76.72 on August 26, with a 7.5% gain in morning trading. The company's strong earnings beat and record copper prices have driven the stock higher.

The metal market has been breaking records this month, with prices advancing due to a combination of factors including a global supply squeeze, declining refined output from China, and uncertainty around US tariffs on copper imports.

FCX's second-quarter earnings report in late July exceeded analyst estimates, posting adjusted earnings of $0.74 per share and revenue of $7.03 billion, which has further fueled the stock's rally.