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Best Copper Stocks to Buy Now (2024)
Top copper stocks in 2024 ranked by overall Zen Score. See the best copper stocks to buy now, according to analyst forecasts for the copper industry.

Industry: Copper
Ticker
Company
Exchange
Industry
Zen Score
Market Cap
Price
1d %
EBITDA
P/E
D/E
ERO
ERO COPPER CORP
NYSE
Copper
$2.03B$19.78-4.31%$186.78M29.97x0.93
TGB
TASEKO MINES LTD
NYSEMKT
Copper
$645.37M$2.22-3.06%$206.13M9.02x2.95
HBM
HUDBAY MINERALS INC
NYSE
Copper
$2.82B$8.05-7.47%$712.45M35.00x1.48
IE
IVANHOE ELECTRIC INC
NYSEMKT
Copper
$1.24B$10.32-10.26%-$214.14M5.19x0.34
FCX
FREEPORT-MCMORAN INC
NYSE
Copper
$65.96B$45.92-5.32%$6.66B39.93x1.54
SCCO
SOUTHERN COPPER CORP
NYSE
Copper
$81.22B$103.98-5.38%$5.03B34.56x1.22
MTAL
METALS ACQUISITION LTD
NYSE
Copper
$657.09M$13.08-4.73%-$28.23M-2.71x3.87

Copper Stocks FAQ

What are the best copper stocks to buy right now in Jul 2024?

According to Zen Score, the 3 best copper mining stocks to buy right now are:

1. Ero Copper (NYSE:ERO)


Ero Copper (NYSE:ERO) is the top copper stock with a Zen Score of 50, which is 12 points higher than the copper industry average of 38. It passed 17 out of 33 due diligence checks and has strong fundamentals. Ero Copper has seen its stock lose -9.64% over the past year, underperforming other copper stocks by -29 percentage points.

2. Taseko Mines (NYSEMKT:TGB)


Taseko Mines (NYSEMKT:TGB) is the second best copper stock with a Zen Score of 50, which is 12 points higher than the copper industry average of 38. It passed 16 out of 33 due diligence checks and has strong fundamentals. Taseko Mines has seen its stock return 50% over the past year, overperforming other copper stocks by 31 percentage points.

Taseko Mines has an average 1 year price target of $2.50, an upside of 12.61% from Taseko Mines's current stock price of $2.22.

Taseko Mines stock has a consensus Hold recommendation according to Wall Street analysts. Of the 1 analyst covering Taseko Mines, 0% have issued a Strong Buy rating, 0% have issued a Buy, 100% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

3. Hudbay Minerals (NYSE:HBM)


Hudbay Minerals (NYSE:HBM) is the third best copper stock with a Zen Score of 46, which is 8 points higher than the copper industry average of 38. It passed 18 out of 38 due diligence checks and has strong fundamentals. Hudbay Minerals has seen its stock return 52.17% over the past year, overperforming other copper stocks by 33 percentage points.

Hudbay Minerals has an average 1 year price target of $11.17, an upside of 38.72% from Hudbay Minerals's current stock price of $8.05.

Hudbay Minerals stock has a consensus Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Hudbay Minerals, 33.33% have issued a Strong Buy rating, 33.33% have issued a Buy, 33.33% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

What are the copper stocks with highest dividends?

Out of 2 copper stocks that have issued dividends in the past year, the 2 copper stocks with the highest dividend yields are:

1. Freeport Mcmoran (NYSE:FCX)


Freeport Mcmoran (NYSE:FCX) has an annual dividend yield of 1.31%, which is the same as the copper industry average of 1.4%. Freeport Mcmoran's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Freeport Mcmoran's dividend has not shown consistent growth over the last 10 years.

Freeport Mcmoran's dividend payout ratio of 52.2% indicates that its dividend yield is sustainable for the long-term.

2. Hudbay Minerals (NYSE:HBM)


Hudbay Minerals (NYSE:HBM) has an annual dividend yield of 0.22%, which is -1 percentage points lower than the copper industry average of 1.4%. Hudbay Minerals's dividend payout is not stable, having dropped more than 10% two times in the last 10 years. Hudbay Minerals's dividend has shown consistent growth over the last 10 years.

Hudbay Minerals's dividend payout ratio of 7.4% indicates that its dividend yield is sustainable for the long-term.

Why are copper stocks down?

Copper stocks were down -5.54% in the last day, and down -9.48% over the last week. Hudbay Minerals was the among the top losers in the copper industry, dropping -7.47% yesterday.

Shares of copper companies are trading lower amid possible uncertainty over China's supply and demand and a drop in the price of copper.

What are the most undervalued copper stocks?

Based on WallStreetZen's Valuation Score, the 3 most undervalued copper stocks right now are:

1. Ivanhoe Electric (NYSEMKT:IE)


Ivanhoe Electric (NYSEMKT:IE) is the most undervalued copper stock based on WallStreetZen's Valuation Score. Ivanhoe Electric has a valuation score of 71, which is 30 points higher than the copper industry average of 41. It passed 5 out of 7 valuation due diligence checks.

Ivanhoe Electric's stock has dropped -35.09% in the past year. It has underperformed other stocks in the copper industry by -54 percentage points.

2. Taseko Mines (NYSEMKT:TGB)


Taseko Mines (NYSEMKT:TGB) is the second most undervalued copper stock based on WallStreetZen's Valuation Score. Taseko Mines has a valuation score of 71, which is 30 points higher than the copper industry average of 41. It passed 5 out of 7 valuation due diligence checks.

Taseko Mines's stock has gained 50% in the past year. It has overperformed other stocks in the copper industry by 31 percentage points.

3. Ero Copper (NYSE:ERO)


Ero Copper (NYSE:ERO) is the third most undervalued copper stock based on WallStreetZen's Valuation Score. Ero Copper has a valuation score of 57, which is 16 points higher than the copper industry average of 41. It passed 4 out of 7 valuation due diligence checks.

Ero Copper's stock has dropped -9.64% in the past year. It has underperformed other stocks in the copper industry by -29 percentage points.

Are copper stocks a good buy now?

66.67% of copper stocks rated by analysts are a buy right now. On average, analysts expect copper stocks to rise by 3.24% over the next year.

What is the average p/e ratio of the copper industry?

The average P/E ratio of the copper industry is 36.3x.
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Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.