If you’re looking for the next great investment theme, don’t look at the shiny new gadgets; look at the stuff that makes them run: copper. It’s the indispensable element of the global energy transition, having earned the nickname “metal of electrification,” and for good reason.
Copper has pulled back recently along with gold, silver and other commodities, but the base case for investing in the “red metal” is still intact.
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From the wiring in your new electric vehicle to the solar panels on the roof and the modernized grid that powers it all, copper is critical. Global refined copper demand is projected to reach 49 million metric tons by 2035, nearly double what it was in 2021, according to S&P Global research. This isn’t a slow burn; it’s a massive, accelerating surge driven by the rapid, large-scale deployment of green technologies. In fact, S&P Global claims that between 2022 and 2050, the world will need more copper than all of the metal that was consumed between 1900 and 2021.
The problem is that supply likely won’t be able to keep up. The International Institute for Strategic Studies predicts a copper deficit in 2026 due to severe supply disruptions. While this shortfall might spell bad news for net-zero-emissions goals, it can spell opportunity for savvy investors. The companies best positioned to mine, process and deliver this critical metal could be in high demand in the years to come.
The following list of seven top copper stocks could make smart additions to any portfolio focused on the energy transition:
| STOCK | MARKET CAPITALIZATION |
| Freeport-McMoRan Inc. (ticker: FCX) | $91.3 billion |
| Antofagasta PLC (OTC: ANFGF) | $50.9 billion |
| Hudbay Minerals Inc. (HBM) | $10.1 billion |
| Lundin Mining Corp. (OTC: LUNMF) | $21.7 billion |
| Teck Resources Ltd. (TECK) | $28.2 billion |
| Southern Copper Corp. (SCCO) | $162.8 billion |
| Ivanhoe Mines Ltd. (OTC: IVPAF) | $18.4 billion |
Freeport-McMoRan Inc. (FCX)
Freeport?McMoRan remains one of the world’s most important copper producers, and in 2026 it’s hard to find a miner better positioned for the demand boom coming from artificial intelligence data centers, EVs and the massive U.S. grid?upgrade cycle. Based in Phoenix, FCX gives investors meaningful U.S. exposure paired with a global production base.
The company’s half?owned Grasberg complex in Indonesia is still the crown jewel. It’s one of the largest copper deposits on the planet. The gold and silver by?product credits also help keep FCX’s net cash costs low. That cost advantage matters even more in 2026, with copper treatment charges collapsing and supply disruptions tightening the market.
With copper prices elevated and structural deficits looming later in the decade, Freeport remains a core holding for investors who want both stability and upside in a tightening global copper market.
Antofagasta PLC (OTC: ANFGF)
Antofagasta is another of the steadier hands in the global copper market, and in 2026 that consistency is worth its weight in, well, copper. The company’s long-life, open-pit mines are concentrated in Chile’s prolific Central Valley.
The company has been leaning into disciplined expansion rather than flashy acquisitions, steadily increasing output while keeping costs under control. Its flagship Los Pelambres mine anchors production with Centinela not far behind. With copper demand accelerating across data centers, EVs and transmission infrastructure, Antofagasta’s combination of operational stability and measured growth makes it a compelling pick for investors who want exposure to copper without signing up for unnecessary volatility.
Hudbay Minerals Inc. (HBM)
Hudbay Minerals is one of the more compelling North American copper names heading into 2026. The company’s strategy has been refreshingly straightforward: Grow copper production, keep costs in check, and use cash flow to strengthen the balance sheet. That formula is paying off. Hudbay’s 2025 results show promising copper output from its flagship Constancia mine in Peru and steady momentum from the Copper Mountain mine in British Columbia, which the company acquired in 2023.
Hudbay has also been vocal about its multi?year copper growth pipeline, including projects in the U.S. and Peru. The company’s combination of production growth and improving financials makes it a solid pick for investors who want exposure to the copper story without venturing into higher?risk jurisdictions.
Lundin Mining Corp. (OTC: LUNMF)
Lundin Mining enters 2026 with the kind of operational consistency investors actually care about. The company met guidance across all metals in 2025, marking its third consecutive year of hitting consolidated production targets. This was supported by its Caserones mine, which posted its strongest month since the company took ownership of the mine in 2023.
Copper remains Ludin’s centerpiece, and management forecasts production will remain strong into 2028. In its Q3 2025 results, Lundin reported higher copper production, stronger revenue and improved earnings before interest, taxes, depreciation and amortization, or EBITDA, compared with earlier quarters, reinforcing the company’s upward momentum heading into 2026. Management also highlighted more than $1 billion in quarterly revenue and robust operating cash flow.
Lundin recently announced its sale of the small, non-core Eagle Mine, which will be replaced with a nearly 20% ownership in a pure-play U.S. nickel-copper company. This shift shows the company’s intention of being a copper-focused producer.
With 2026 through 2028 guidance already published and a track record of meeting its targets, Lundin Mining offers investors a stable, growth?oriented copper producer backed by transparent reporting and consistent delivery.
Teck Resources Ltd. (TECK)
Teck Resources has fully evolved into a pure-play energy transition metals company following the completion of the $7.3 billion sale of its steelmaking coal business in July 2024. With the portfolio now centered on copper and zinc, Teck’s near?term focus remains on stabilizing and optimizing Quebrada Blanca Phase 2 (QB2) in Chile.
In its January production update, the company reaffirmed its 2026 to 2028 copper outlook. Teck also confirmed that 2025 copper production came in below guidance due to weather?related disruptions and ramp?up challenges at Quebrada Blanca, but emphasized that its multi?year copper growth trajectory remains unchanged. With QB2 expected to contribute increasingly meaningful volumes as performance improves, Teck continues to target substantial copper growth across the decade.
The company continues to target a path toward 800,000 tonnes of annual copper production by 2030, underscoring its ambition to become one of the world’s leading copper?focused miners.
Southern Copper Corp. (SCCO)
With primary operations centered in Peru and Mexico, Southern Copper commands one of the most cost-efficient operational platforms in the copper industry, giving it substantial margin advantage even when commodity prices experience cyclical downturns. The company also claims the largest copper reserves among all publicly listed miners, which provides a resource runway that will stretch for decades.
The company continues to advance major expansions, including Tía María, Los Chancas and Michiquillay in Peru, and El Pilar and El Arco in Mexico. It does this while maintaining a strong focus on ESG through reduced greenhouse emissions and restoration projects.
While its geographic concentration in Latin America exposes it to specific regional regulatory and geopolitical risks, the long life and scale of its mines make it a strong option for investors seeking maximum exposure to rising copper demand over the long term.
Ivanhoe Mines Ltd. (OTC: IVPAF)
Canadian-based Ivanhoe Mines is another intriguing prospect for copper investors. The company saw record copper production in 2025, despite a seismic event last year that temporarily reduced output at Kamoa?Kakula, the world’s fastest-growing and greenest major copper mine, located in the Central African Copperbelt. Operations have since stabilized and the mine still achieved 2025 guidance. The mine is already averaging 500 tonnes of 99.7% pure copper anode production per day, with its first exports ready to depart.
Ivanhoe’s 2026 guidance also remains strong across Kamoa?Kakula, Platreef and Kipushi, with the company reaffirming that all three assets are expected to contribute to consolidated production for the first time. The 2026 production ranges suggest continued growth at Kamoa?Kakula and the transition of Platreef and Kipushi into their initial production phases.
With three strong assets contributing to the top line and multi?year guidance reaffirmed, Ivanhoe offers investors a rapidly scaling, growth?oriented copper producer with a clear path to expanding output through the decade.
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The 7 Best Copper Stocks to Buy Today originally appeared on usnews.com
Update 02/04/26: This story was previously published at an earlier date and has been updated with new information.
