Freeport-McMoRan Copper Rally Drives Stock Price Above Estimated Fair Value

Freeport-McMoRan's stock price has risen to $69.09 as of August 19, 2026, driven by a rebound in copper prices and increased interest in US miners.

The company has gained 4.2 percent on the day, with its shares trading above their estimated fair value of $48.19, according to one recent valuation snapshot.

Freeport-McMoRan's second-quarter earnings report showed adjusted earnings of $0.74 per share, exceeding several consensus estimates, and the company improved its 2026 unit cash cost guidance for copper to $1.90 per pound from a previous target of $1.95 per pound.

The firm's copper operations have been supported by strong demand from data centers, electric vehicles, and broader electrification, with recent sector commentary highlighting Freeport-McMoRan among four miners positioned to benefit from this theme.