Freeport-McMoRan Hits All-Time High as Copper Demand Surges
FCX has more than doubled off its 52-week low of $35.15 on elevated volume (2.0× avg).
Summary
Freeport-McMoRan closed at a record $76.66 on Friday, up 7.6% for the day and 51% year-to-date. The stock has gained 16% over a three-day winning streak and was the fourth best performer in the S&P 500 today. The move is driven by surging copper demand tied to the AI buildout and U.S. tariffs restricting supply. This follows strong Q2 results in July that beat estimates and raised cash flow guidance, and comes despite the Gresik smelter outage reported earlier this month. The stock is trading near its 52-week high of $77.33, with momentum clearly intact.
At the time of this announcement, FCX was trading at $76.64 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $110.1B. The 52-week trading range was $35.15 to $77.33. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.