Freeport-McMoRan Stock Rises on Copper Price Bump

Freeport-McMoRan stock has gained after copper prices rebounded amid tighter supply conditions. The company's phased ramp-up of the Grasberg mine is continuing, with a focus on copper production.

The stock closed at $71.94 on September 21, 2026, up 0.6 percent from the prior session, and had reached a market value of $103.3 billion. The company's second-quarter figures showed revenue of $7.029 billion and net income of $984 million.

Copper production in Q2 2026 was 786 million pounds, with copper sales at 710 million pounds at an average realized price of $6.17 per pound. Freeport-McMoRan expects 2026 sales of about 3.057 billion pounds of copper, 654,000 ounces of gold, and 93 million pounds of molybdenum.

The company's operating cash flow is expected to be approximately $8.3 billion and capital spending will be around $4.3 billion for the year. The phased ramp-up of the Grasberg mine has taken longer than expected to reach full capacity, which is a key tension point for the stock.