Freeport-McMoRan Gains Attention As Copper Prices Hit Record Highs

According to CNBC, Freeport-McMoRan Inc. is being highlighted as a new position in a dividend income portfolio as copper prices climb to record highs and the company’s production at Grasberg Block Cave in Indonesia continues to recover. Global copper mine production fell 1.1% in the first half of 2026, while copper on the London Metal Exchange rose above $14,500 per metric ton. The company generated about $2 billion in operating cash flow in the second quarter and expects roughly $8.3 billion for the full year, based on its commodity-price assumptions. The stock was up nearly 50% so far in 2026 and a little more than 9% in the past month, and it was bought at $72.50. Based on roughly $3.75 in expected 2027 earnings per share, the shares trade at about 19 times earnings, below the company’s 10-year average.