Major Shareholder Scales Back Stake in Copper Producer Aurubis

Rossmann Beteiligungs reduces its stake in copper producer Aurubis from 19.71% to 14.33%, as Goldman Sachs confirms a 6.43% holding. The move pressures the share price.

A significant shift in the shareholder register of copper producer Aurubis became public on Friday. Rossmann Beteiligungs GmbH, a long-standing major investor, has substantially reduced its holding in the company. According to a voting rights notification dated March 27, Rossmann's stake has been lowered from 19.71% to 14.33%. The threshold crossing was effective as of March 23, 2026.

Details of the Stake Reduction

The scale of the divestment is considerable. Previously, Rossmann's position consisted of 14.71% in direct voting rights and a further 5.00% held through financial instruments. Its current holding now comprises 12.19% in direct voting rights, equating to 5,480,500 shares, and 2.14% held via instruments such as options and knock-out certificates. The mandatory disclosure does not indicate whether this reduction marks the end of the selling activity.

Coinciding with this move, Goldman Sachs reported a 6.43% stake in Aurubis on the same effective date. This confirms the US investment bank's continued role as a relevant shareholder, even as the balance of power among major investors changes.

Share Price Performance and Valuation Context

Aurubis shares closed Friday's session at €146.00, registering a decline of nearly two percent. This price places the equity approximately ten percent below its 50-day moving average of €162.26. The exit of a major shareholder typically creates additional supply-side pressure, a factor that contributed to the stock's weakness on a day when broader markets also traded lower.

From a fundamental perspective, the valuation remains relatively moderate. Based on an expected earnings per share of €12.35 for 2025, the forward price-to-earnings ratio stands at around 8.6. Despite recent pressure, the stock maintains a substantial gain of roughly 62% over a twelve-month horizon, performing significantly better than at the start of 2025. Analysts are now watching the €140 support level, which may come into focus if selling pressure persists.