On Wall Street, copper has the nickname Dr. Copper, as if it had an advanced economics degree and could predict where the economy is going.
That’s because copper is used in a wide variety of goods such as wiring and piping for homes and businesses, electronics and cars, meaning that demand for the red metal and its related price swings are often seen as a bellwether for economic health.
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Right now, copper prices are north of $6 a pound, historically very high. That’s partly because of supply disruptions, but it’s also because of a long-term investment thesis that has mining companies around the world aiming to expand their operations to help meet a massive shortfall in coming decades.
That expected shortage comes as new mines take a long time to develop, even as demand is expected to ramp up along with the globe’s increasing need for electricity.
Amid a transition away from coal-fired power generation, more copper is needed for solar and wind farms. That comes as more industries, such as transportation and manufacturing, are electrifying. Global population growth and increasing affluence increase the demand for housing and air conditioning, and, you guessed it, more copper.
Copper is also crucial to the artificial intelligence boom, with data centers expected to meaningfully increase both electricity and copper demand.
“Copper stands to benefit from strong global economic trends,” says David Russell, global head of market strategy with analysis and brokerage company TradeStation Group. “Data center and power-grid investments have supported demand for copper.”
With that in mind, here’s a look at seven top copper-producing companies to buy for 2026:
| Copper Stock | Investing Case | Forward Dividend Yield |
| Antofagasta PLC (ticker: OTC: ANFGF) | Chilean copper miner expands production sustainably while maintaining high margins. | 1.3% |
| Glencore PLC (OTC: GLNCY) | Swiss diversified miner/trader ramps up copper production globally and recycles scrap. | 2.5% |
| Teck Resources Ltd. (TECK) | Canadian copper giant in key merger with Anglo American, boosting production with record margins. | 0.6% |
| Southern Copper Corp. (SCCO) | Low-cost copper miner in Mexico and Peru with conglomerate backing. | 2.3% |
| BHP Group Ltd. (BHP) | Top global diversified miner of South American copper and potash. | 3.3% |
| Freeport-McMoRan Inc. (FCX) | Major global miner restoring Indonesia’s massive Grasberg copper mine. | 1.0% |
| Hudbay Minerals Inc. (HBM) | Canadian copper miner expands major, secure projects in the U.S. | 0.1% |
Antofagasta PLC (OTC: ANFGF)
This Chile-based copper mining group has been expanding its copper production capacity with the goal of increasing output by about 30% by the end of the decade.
The company is known for relatively high margins with earnings before interest, taxes, depreciation and amortization, or EBITDA, relatively low debt and a strong dividend policy.
Water is a key issue for all miners, but especially Chilean copper miners that operate in very dry conditions. Antofagasta uses desalinated seawater and treated wastewater for much of its operations, giving it an advantage over competitors who have to use fresh water and are more susceptible to drought and regulatory risks. It is aiming to eventually eliminate continental fresh water use in its operations.
Glencore PLC (OTC: GLNCY)
Copper makes up a big chunk of Glencore’s revenue, and the Swiss diversified miner is also aiming to expand its copper production capacity. Importantly, the company also has a trading group that does particularly well during times of commodities volatility, offering a counterbalance when volatility doesn’t go the way of its mining operations.
For example, the company produced around 850,000 metric tons of copper at its own operations last year, but it sold 3.8 million metric tons of copper metal and concentrates via its marketing department, giving Glencore an important revenue stream.
The company has mining and processing operations in South America, the Democratic Republic of the Congo and Australia, and it recycles copper scrap in North America.
The company also produces cobalt as a byproduct of copper mining, giving it a foothold in one of the key ingredients in lithium-ion batteries used in electric vehicles, smartphones and laptop computers.
Teck Resources Ltd. (TECK)
This Canadian company operates in (or has an interest in) four mines and has development projects in North America and South America.
It’s in the process of merging with Anglo American PLC (OTC: NGLOY) in a $53 billion deal that will create a copper-producing powerhouse, with the red metal set to make up about 70% of the combined company’s revenue.
In the first quarter of this year, Teck’s adjusted EBITDA hit a record $2.1 billion because of higher commodity prices and sales. Record copper prices and sales volumes contributed, as did byproducts, especially silver.
The company is working to expand its copper production over the long run. And in the short run, Teck is saying it anticipates producing 455,000 to 530,000 metric tons this year, up from 454,000 metric tons last year. It anticipates its net cash unit costs will be in the range of $1.85 to $2.20 per pound, compared with last year’s cost of $2.03. That gives it plenty of margin with copper futures prices trading above $6 per pound in New York.
[READ: 4 Best Copper ETFs to Buy]
Southern Copper Corp. (SCCO)
This Mexico- and Peru-focused miner not only has exploration and mining units but also refining, smelting and processing plants, diversifying its revenue stream.
The company is able to weather commodities volatility cycles better than some other miners because it has the backing of majority owner Grupo México (OTC: GMBXF), a conglomerate that has transportation and infrastructure businesses in addition to its mining division.
And, perhaps more importantly, Southern produces copper at a relatively low cost, which helps keep cash flow generation decent during periods of lower prices while allowing the company to enjoy increased margins during times when copper is doing well.
BHP Group Ltd. (BHP)
BHP is a major copper producer that has been working to grow its copper business through exploration. The company alternates with Chile’s state-run Codelco as the world’s biggest copper-producing company, as actual production varies from year to year. BHP operates the biggest copper mine in the world in the South American nation.
As a diversified miner, BHP also produces iron ore and steelmaking coal, and the company is developing a major potash project. Those commodities can help cushion downturns in the copper market.
But for now, copper is a booming business, and in the first half of BHP’s fiscal 2026, the metal made up more than half of its underlying earnings for the first time.
Freeport-McMoRan Inc. (FCX)
This is one of the largest copper miners in the world, and with the long-term demand outlook bright for the metal, Freeport is worth considering.
The company owns a little less than half of the huge Grasberg copper mine in Indonesia, with Freeport as the operator and the government as the majority owner. Last year, the mine suffered a deadly mudslide and underground collapse, highlighting the risks in the dangerous mining industry. Freeport is working to restore the mine to full operating capacity.
The mine is so big that the disruption is one of the reasons global copper supply is tight, and the downturn in production is one factor helping to keep copper prices higher.
Hudbay Minerals Inc. (HBM)
This copper-focused mining company has three long-life mines and other growth projects in Canada, Peru and the U.S.
The company is advancing its Copper World project in Arizona, with a projected mine life of 20 years and an annual production target of 92,000 metric tons.
Last year, Hudbay entered a joint venture on the project with Mitsubishi Corp. (OTC: MTSUY) worth $600 million, and in June, Hudbay completed an acquisition of Arizona Sonoran Copper Co., whose Cactus project complements the Copper World project and will create the third-largest copper district in North America.
The foothold in the U.S. gives Hudbay key access to a stable mining jurisdiction that is increasingly trying to build out its own supply chain for minerals instead of being dependent on foreign jurisdictions.
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7 Best Copper Stocks to Buy in 2026 originally appeared on usnews.com
