Copper is an important industrial metal that’s critical to global growth and development in both the industrial and technology sectors. Copper is absolutely essential for electrical wiring, electrical and computer component manufacturing, renewable and traditional energy infrastructure, residential and commercial construction, and many more vital elements of an expanding world economy.
Having exposure to copper stocks is a bullish bet on continued long-term economic growth in the U.S. and abroad. Below are just a few of the many good reasons to consider copper stocks today:
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Explosive Growth in Technology
Because of its superior conductivity, copper has been the preferred material for electrical wiring since the dawn of the electric age 125 years ago. Today, copper is used to transmit and process vast amounts of data through Ethernet and coaxial cables, circuit boards, semiconductors and integrated circuits. The versatile industrial metal is used in all types of networking equipment, computers and servers.
Data Center-Driven Demand for Cooling Systems
Copper is an excellent thermal conductor; it’s ideal for heat sinks, cooling coils and thermal management systems. In other words, copper is essential for air conditioning. A massive increase in data processing fueled by artificial intelligence, cloud computing, cryptocurrencies and global high-speed communication has produced a corresponding demand for data centers and server farms, all of which must be cooled 24 hours a day. That’s good for copper companies.
The Electric Vehicle (EV) Boom
The EV market is growing by leaps and bounds. Individual and commercial demand for EVs is strong, and companies like Tesla Inc. (ticker: TSLA) and Waymo — a subsidiary of Alphabet Inc. (GOOG, GOOGL) — are developing electric robotaxis as fast as they can. Savvy investors know that EVs require four times more copper than traditional gas-powered vehicles and that copper is a key component in lithium-ion batteries and charging stations.
Limited Supply
Identifying proven copper reserves and securing mineral rights is physically and politically difficult. And once copper is discovered, mining is an expensive and labor-intensive endeavor. All this is to say that there is a limited supply of copper, and supply growth is slow and cumbersome. In simple terms, when economic growth is strong, copper demand outpaces supply.
Diversification and Inflation Hedge
Owning copper companies is an excellent way to diversify a portfolio, and exposure to a commodity like copper can sometimes be a hedge against inflation.
If you understand the potential long-term benefits of owning copper stocks, the next step is to research companies. The following list of seven top copper stocks is a great place to start:
| Copper Stock | Market Cap |
| Compañía de Minas Buenaventura SA (BVN) | $3.6 billion |
| Ivanhoe Electric Inc. (IE) | $902 million |
| Taseko Mines Ltd. (TGB) | $646 million |
| Hudbay Minerals Inc. (HBM) | $3.4 billion |
| Ero Copper Corp. (ERO) | $1.4 billion |
| Freeport-McMoRan Inc. (FCX) | $56.1 billion |
| Southern Copper Corp. (SCCO) | $75 billion |
Compañía de Minas Buenaventura SA (BVN)
Buenaventura is a $3.6 billion Peruvian precious and industrial metals and mining company that trades on the New York Stock Exchange as an American Depository Receipt, or ADR, under the ticker BVN.
The company, which has its headquarters in Lima, Peru, is a leader in the exploration, mining and processing of copper, lead, zinc, gold and silver. The firm’s wide product line, which includes both precious and industrial metals, adds automatic diversification to any investor’s portfolio.
BVN has key operations across Peru, including in the regions of Tambomayo, Orcopampa, Uchucchacua, Julcani and San Gabriel. It’s also developing promising properties in Colguijirca, La Zanja, Cerro Verde and other locations.
BVN is a powerhouse in copper, but it enhances its mining business by operating several hydroelectric power plants, which generate significant revenue and support the company’s renewable energy and environmental stewardship efforts.
BVN has a current dividend yield of 2%.
Ivanhoe Electric Inc. (IE)
Ivanhoe Electric is a relatively new, highly innovative and dynamic Arizona-based copper exploration and technology company that is quickly revolutionizing how the mining industry finds copper and other important metals.
The company is committed to developing high-grade copper projects, especially its flagship mine, the Santa Cruz Copper Project, near Casa Grande, Arizona. The Santa Cruz Project may be the largest, highest-quality undeveloped copper reserve in the U.S. The project covers close to 6,000 acres of privately owned land, and Ivanhoe Electric has secured full surface and mineral rights. Geological surveys indicate that Ivanhoe will be able to extract 1.6 million metric tons of copper over the mine’s lifecycle.
Another exciting aspect of the company is its Typhoon geophysical survey technology. The Typhoon system is a state-of-the-art platform that works by analyzing electromagnetic signals projected into the ground. It has proven to be one of the most accurate and cost-effective methods of locating sulfide-based minerals, including copper. IE’s market cap is $902 million.
Taseko Mines Ltd. (TGB)
Taseko Mines is a $646 million, Vancouver-based company that owns and has interests in several valuable copper-producing mines. The company’s crown jewel is the Gibraltar Mine, located in the wilds of British Columbia. As of March 2024, TGB owns a 100% mining and mineral interest in that major copper-producing property. This relatively small company should remain a regional powerhouse in the copper industry for many years.
TGB is not, however, limiting itself to the Vancouver region. The company is aggressively expanding into America by developing the Florence Copper Project in Arizona. According to initial assessments, that promising mine has 345 million metric tons of ore containing 2.4 million metric tons of 0.36% grade copper.
The company has won praise from environmental groups for its use of in-situ leaching, which does less damage to the environment by conserving water and energy.
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Hudbay Minerals Inc. (HBM)
Hudbay Minerals is a critical minerals company with a particular focus on copper. HBM has a market cap of $3.4 billion and pays a small dividend yield of 0.16%.
The company operates in tier-one copper mining jurisdictions, including the U.S., Canada and Peru. Copper is its primary product, but HBM also mines gold, silver, zinc and molybdenum.
In its first-quarter financials, HBM reported consolidated copper production of 31,000 metric tons, with about 21% coming from British Columbia. Company guidance indicates fiscal year 2025 production of between 117,000 and 149,000 metric tons of copper. In other words, this company is a stable producer and should remain so for some time to come.
In April 2024, BofA Securities upgraded HBM from “neutral” to “buy” and has maintained that positive rating ever since.
Ero Copper Corp. (ERO)
ERO owns a high-quality portfolio of mines in Brazil that primarily produce copper concentrate. This $1.4 billion company is well positioned to take advantage of the high and growing global demand for copper.
ERO’s key asset is a 99.6% mineral interest in Mineração Caraíba S.A., which is the principal copper mine in the very productive Curaçá Valley. In the first quarter of 2025, that property produced 7,357 metric tons of copper. For full-year fiscal 2024, production reached 40,600 metric tons in concentrate. The company is striving to match that production in 2025.
The future prospects of this company depend on Tucumã Operation (Pará, Brazil). There have been some challenges bringing the mine online, but when it becomes fully operational, it’s expected to boost overall copper production to between 75,000 and 85,000 metric tons, which will eventually represent a more than 80% increase over current levels.
Freeport-McMoRan Inc. (FCX)
Freeport-McMoRan is one of the largest and best-run metals and mining companies in the world. It has a market cap of $56 billion and a current dividend yield of 1.5%. The company is a world leader in copper production and gold mining.
Beyond copper and gold, FCX mines and processes silver and molybdenum, which is used to harden steel for use in skyscrapers, heavy equipment and other high-stress applications.
FCX has its home base in Phoenix, but has significant operations in New Mexico, Colorado, Indonesia, and South and Central America.
BofA Securities, CFRA and Jefferies all have a “buy” rating on FCX. JP Morgan and Raymond James maintain an “outperform” rating on the name.
Southern Copper Corp. (SCCO)
With a market cap of $75 billion, Southern Copper is the largest copper stock on the market. Wall Street estimates SCCO will generate about $11.8 billion in revenue for fiscal 2025 and 2026.
SCCO operates mines in Chile, Argentina, Ecuador, Mexico and Peru. It produces copper from copper ore and also processes and distributes molybdenum and commercial quantities of sulfuric acid.
To a somewhat lesser extent, it also refines, processes and sells silver and gold, but this is mostly an ancillary result of its industrial mining operations. In other words, while it’s digging in the earth for copper, zinc, lead and coal, it often finds quantities of gold and silver.
According to the company’s investor relations department, SCCO has mineral rights and ownership interests in more than 355,000 hectares of mining concessions. This Phoenix-based company has a current dividend yield of just over 3%.
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The 7 Best Copper Stocks to Buy Today originally appeared on usnews.com
Update 05/14/25: This story was published at an earlier date and has been updated with new information.
