Freeport-McMoRan Stock Rides Copper Wave to $72.73
Freeport-McMoRan Inc.'s stock price rose to $72.73 on September 7, 2026, as copper futures held firm. The company's revenue for the second quarter reached $7.029 billion, a slight decrease from last year's $7.582 billion. However, net income increased to $984 million, up 27.5 percent from the previous year.
The stock price of Freeport-McMoRan is closely tied to copper prices, with the company being one of the largest copper producers in the world. The September COMEX contract settled at around $6.6825 per pound, which kept the stock close to the metal price rather than a company-specific shock.
The company's quarterly figures show that margins still matter, despite a lower top line. Operating income came in at $2.003 billion, compared with $2.432 billion in the prior-year quarter. This mix gives the stock a different sensitivity to copper prices than a simple revenue trend would suggest.