WallStreetZenWallStreetZen

Best Copper Stocks to Buy Now (2023)
Top copper stocks in 2023 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
SCCO
SOUTHERN COPPER CORP
NYSE
Copper
$55.61B$71.930.22%$5.71B19.34x1.18
ERO
ERO COPPER CORP
NYSE
Copper
$1.15B$12.33-0.56%$202.82M14.51x1.05
IE
IVANHOE ELECTRIC INC
NYSEMKT
Copper
$1.35B$11.362.81%-$187.16M5.83x0.37
FCX
FREEPORT-MCMORAN INC
NYSE
Copper
$53.52B$37.320.40%$6.81B24.88x1.52
HBM
HUDBAY MINERALS INC
NYSE
Copper
$1.59B$4.551.56%$479.59M151.67x1.57
TGB
TASEKO MINES LTD
NYSEMKT
Copper
$343.48M$1.19-4.03%$96.04M41.03x2.89
MTAL
METALS ACQUISITION LTD
NYSE
Copper
$484.09M$10.000.00%N/A-9.09x3.28

Copper Stocks FAQ

What are the best copper stocks to buy right now in Dec 2023?

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

1. Southern Copper (NYSE:SCCO)


Southern Copper (NYSE:SCCO) is the top copper stock with a Zen Score of 46, which is 13 points higher than the copper industry average of 33. It passed 17 out of 38 due diligence checks and has strong fundamentals. Southern Copper has seen its stock return 17.88% over the past year, overperforming other copper stocks by 12 percentage points.

Southern Copper has an average 1 year price target of $71.50, a downside of -0.6% from Southern Copper's current stock price of $71.93.

Southern Copper stock has a consensus Strong Sell recommendation according to Wall Street analysts. Of the 3 analysts covering Southern Copper, 0% have issued a Strong Buy rating, 0% have issued a Buy, 33.33% have issued a hold, while 0% have issued a Sell rating, and 66.67% have issued a Strong Sell.

2. Ero Copper (NYSE:ERO)


Ero Copper (NYSE:ERO) is the second best copper stock with a Zen Score of 41, which is 8 points higher than the copper industry average of 33. It passed 13 out of 33 due diligence checks and has strong fundamentals. Ero Copper has seen its stock lose -2.45% over the past year, underperforming other copper stocks by -8 percentage points.

Ero Copper has an average 1 year price target of $24.00, an upside of 94.65% from Ero Copper's current stock price of $12.33.

Ero Copper stock has a consensus Hold recommendation according to Wall Street analysts. Of the 1 analyst covering Ero Copper, 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. Ivanhoe Electric (NYSEMKT:IE)


Ivanhoe Electric (NYSEMKT:IE) is the third best copper stock with a Zen Score of 39, which is 6 points higher than the copper industry average of 33. It passed 12 out of 33 due diligence checks and has average fundamentals. Ivanhoe Electric has seen its stock return 7.88% over the past year, overperforming other copper stocks by 2 percentage points.

Ivanhoe Electric has an average 1 year price target of $19.00, an upside of 67.25% from Ivanhoe Electric's current stock price of $11.36.

Ivanhoe Electric stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Ivanhoe Electric, 50% have issued a Strong Buy rating, 50% have issued a Buy, 0% 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 3 copper stocks that have issued dividends in the past year, the 3 copper stocks with the highest dividend yields are:

1. Southern Copper (NYSE:SCCO)


Southern Copper (NYSE:SCCO) has an annual dividend yield of 5.56%, which is 3 percentage points higher than the copper industry average of 2.5%. Southern Copper's dividend payout is not stable, having dropped more than 10% seven times in the last 10 years. Southern Copper's dividend has shown consistent growth over the last 10 years.

Southern Copper's dividend payout ratio of 94.1% indicates that its high dividend yield might not be sustainable for the long-term.

2. Freeport Mcmoran (NYSE:FCX)


Freeport Mcmoran (NYSE:FCX) has an annual dividend yield of 1.61%, which is -1 percentage points lower than the copper industry average of 2.5%. 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 40% indicates that its dividend yield is sustainable for the long-term.

3. Hudbay Minerals (NYSE:HBM)


Hudbay Minerals (NYSE:HBM) has an annual dividend yield of 0.32%, which is -2 percentage points lower than the copper industry average of 2.5%. 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 not shown consistent growth over the last 10 years.

Hudbay Minerals's dividend payout ratio of 50% indicates that its dividend yield is sustainable for the long-term.

Why are copper stocks up?

Copper stocks were up 0.38% in the last day, and down -0.73% over the last week.

We couldn't find a catalyst for why copper stocks are up.

What are the most undervalued copper stocks?

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

1. Ero Copper (NYSE:ERO)


Ero Copper (NYSE:ERO) is the most undervalued copper stock based on WallStreetZen's Valuation Score. Ero Copper has a valuation score of 71, which is 36 points higher than the copper industry average of 35. It passed 5 out of 7 valuation due diligence checks.

Ero Copper's stock has dropped -2.45% in the past year. It has underperformed other stocks in the copper industry by -8 percentage points.

2. Freeport Mcmoran (NYSE:FCX)


Freeport Mcmoran (NYSE:FCX) is the second most undervalued copper stock based on WallStreetZen's Valuation Score. Freeport Mcmoran has a valuation score of 43, which is 8 points higher than the copper industry average of 35. It passed 3 out of 7 valuation due diligence checks.

Freeport Mcmoran's stock has dropped -6.23% in the past year. It has underperformed other stocks in the copper industry by -12 percentage points.

3. Ivanhoe Electric (NYSEMKT:IE)


Ivanhoe Electric (NYSEMKT:IE) is the third most undervalued copper stock based on WallStreetZen's Valuation Score. Ivanhoe Electric has a valuation score of 43, which is 8 points higher than the copper industry average of 35. It passed 3 out of 7 valuation due diligence checks.

Ivanhoe Electric's stock has gained 7.88% in the past year. It has overperformed other stocks in the copper industry by 2 percentage points.

Are copper stocks a good buy now?

42.86% of copper stocks rated by analysts are a strong buy right now. On average, analysts expect copper stocks to rise by 23.02% 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 23.52x.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

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.