Aurubis Hits Record High as Copper Rally Meets Increased Stake From Anchor Investor

The stars are aligning for Aurubis. Europe’s largest copper producer touched a new all-time high of €209.40 on Wednesday, powered by a record-breaking rally in the red metal and a sharp vote of confidence from its biggest shareholder. The combination of soaring raw material prices, a much-improved earnings outlook, and a growing commitment from a long-term backer has thrust the Hamburg-based company into the spotlight — and left many analysts scrambling to lift their price targets.

Fresh off the wire, the Rossmann Beteiligungs GmbH has raised its grip on Aurubis to 23.28% of voting rights, up from 20.02%. The bulk — 15.03% — comes from directly held shares, while an additional 8.25% is handled via financial instruments. The crossing of the threshold was noted on May 11 and disclosed two days later. For a company that is already benefitting from tailwinds across the metals complex, the message from its anchor investor is unequivocal: this is a stock worth holding onto — and buying more of.

The timing could hardly be more fitting. Copper jumped to a fresh record of $14,191 per tonne on the London Metal Exchange, fuelled by insatiable demand from the energy transition, artificial intelligence data-centre buildout, and renewable energy deployment. Supply constraints — including a shortage of sulfuric acid, a key byproduct for Aurubis — are adding further upward pressure. Aurubis is a direct beneficiary of these dynamics, and the management’s decision last week to jack up its full-year guidance has only cemented the bullish narrative.

For the financial year 2025/26, the company now expects operating profit before tax to land between €425 million and €525 million, compared with a previous band of €375 million to €475 million. The second quarter already offered a glimpse of the momentum: operating EBIT came in at €121 million, a solid jump from the €105 million reported in the first quarter. Higher metal prices, improved margins from recycling materials, and elevated sulfuric acid prices all contributed to the beat.

Should investors sell immediately? Or is it worth buying Aurubis?

Analyst reactions have been swift and positive. The DZ Bank raised its price objective from €140 to €180 and moved the stock from “Sell” to “Hold”. Warburg Research went a step further, lifting its target from €176 to €209 with a “Buy” rating intact. Alphavalue also upped its earnings estimates for 2026 and 2027. The consensus is building that Aurubis is entering a new valuation territory — one that reflects its exposure to structural demand drivers and a tighter supply environment.

The stock has more than doubled over the past 12 months, racking up a gain of 162.81%. Its distance to the 200-day moving line stands at a hefty 54.68%. Yet the relative strength index sits at 46.3, suggesting the recent surge has not pushed the issue into overbought territory. That leaves room for further upside, provided the copper price holds and the company delivers on its upgraded guidance.

Even the geopolitical backdrop offers a curious source of support. The ongoing conflict in Iran has disrupted sulfur supply chains from the Middle East, constraining global availability just as European chemical and fertiliser industries maintain steady demand. Higher sulfur prices are an additional lift for Aurubis’s bottom line — an ironic twist in a region otherwise rattled by instability.

Aurubis at a turning point? This analysis reveals what investors need to know now.

With a deep-pocketed anchor investor tightening its hold, a record copper price fuelling the top line, and analysts turning increasingly bullish, Aurubis is riding a wave that shows few signs of cresting. The real test will come if the metal price softens or the company stumbles on execution. But for now, the constellation of catalysts is about as favourable as it gets.

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