Aurubis stock holds strong as recycling profits jump

Aurubis AG (DE0006766504) stock is trading at a robust level in August 2026 as investors digest new data showing that operating earnings before taxes from the Multimetal Recycling segment more than doubled in the first nine months of fiscal 2025/26.

Sector analysis published on August 18, 2026 points out that Aurubis lifted operating pre-tax profit in multimetal recycling to €87 million for the first nine months of fiscal 2025/26, compared with €36 million in the same period a year earlier, underscoring the growing earnings contribution from recycled raw materials.

At the same time, market data as of August 18, 2026 indicate that Aurubis stock is trading close to the level where analysts' average target price is set, with a year-to-date gain above 39 percent providing a strong backdrop for the recycling growth story.

Share performance and analyst view

Recent consensus data show Aurubis shares quoted at €167.00 in Tradegate real-time trading at 10:18 a.m. CET on August 18, 2026, marking a 5-day change of -2.79 percent and a gain of 39.34 percent since the start of 2026.

Further quote information lists a last close price of €170.30 and an average target price from analysts of €170.12, implying that the current €167.00 trading level is around 1.9 percent below the most recent closing price and marginally below the consensus target.

In a parallel real-time snapshot, Aurubis shares are shown at €166.35 on August 18, 2026 with a 5-day change of -2.41 percent and a year-to-date performance of 43.72 percent, highlighting that even after a modest pullback in recent sessions the stock remains significantly above its level at the beginning of the year.

Recycling profits drive the earnings mix

According to an August 18, 2026 analysis of copper sector trends, Aurubis reported that operating earnings before taxes from its Multimetal Recycling segment increased from €36 million to €87 million during the first nine months of fiscal year 2025/26, reflecting a gain of €51 million.

The same report notes that in the first nine months of fiscal 2025/26 the contribution of concentrate and recycled raw material treatment charges to gross profit in Aurubis' traditional smelting and copper products business fell from 19 percent to 12 percent, while spot copper concentrate treatment and refining charges remained in negative territory over the period.

By contrast, multimetal recycling benefited from complex feed refining charges and recovery income from copper, gold, silver and other metals, creating a significant improvement in profit that partially offsets the weaker earnings contribution from traditional smelting operations.

For investors, the shift in the earnings mix means that recycling volumes, treatment charges for complex materials and recovery yields are becoming more central to Aurubis' medium-term profit trajectory than spot copper concentrate margins alone.

Expansion of recycling capacity in Hamburg and Richmond

The same August 18, 2026 sector overview highlights that Aurubis' Complex Recycling Hamburg project was commissioned in July 2026 and is designed to process more than 30,000 metric tons of additional complex materials per year once fully ramped up.

In the United States, Aurubis Richmond is designed to process 180,000 metric tons of material annually after reaching full capacity, although the ramp-up period has been extended by six months compared with the original plan, pushing out the point at which the plant contributes its full designed throughput.

Together, these two projects considerably expand Aurubis' ability to treat complex recycling feeds, supporting the strong growth in multimetal recycling earnings observed in the first nine months of fiscal 2025/26 and providing visibility on further recycling-driven earnings potential beyond fiscal 2025/26.

This expansion also underlines Aurubis' strategic commitment to recycled raw materials at a time when spot concentrate charges are under pressure and regulatory and customer demand for circular-economy metals is rising in both Europe and the US.

Representative product: multimetal recycling services

Aurubis' multimetal recycling operations effectively function as a product and service offering to industrial customers who supply complex scrap and recycling materials, ranging from copper-bearing electronic waste to industrial residues containing copper, precious metals and other non-ferrous metals.

Through its Hamburg complex recycling unit and the Richmond facility in the US, Aurubis offers customers the ability to convert such complex materials into high-quality copper and other recovered metals, generating revenue from treatment charges and metal recovery while helping customers comply with tightening environmental and circular-economy standards.

Aurubis stock in August 2026

As of August 18, 2026, Aurubis stock trades on its primary listing in Frankfurt with real-time quotes such as €167.00 on Tradegate and €166.35 on CBOE-based data, reflecting a year-to-date gain in the range of 39 to 44 percent depending on the venue snapshot.

This performance, combined with the marked increase in multimetal recycling profits in fiscal 2025/26 and the ramp-up of complex recycling capacity in Hamburg and Richmond, frames Aurubis stock as a play on the growing importance of recycled raw materials in the global copper supply chain.

Fact box

Company: Aurubis AG

ISIN: DE0006766504

Ticker: NDA

Exchange: Xetra (Frankfurt)

Price (as of August 18, 2026): €167.00

Market cap: not specified in available sources

Sector / Industry: Metals and mining - copper and recycling

Index membership: not specified in available sources