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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
OverviewZen ScorePriceValuationFinancials
ForecastEarnings & RevenueDividendsOwnershipTechnicals
Ticker
Company
Financials Score
Market Cap
ROE
ROA
ROCE
ROIC
D/E
Current Ratio
Gross Margin
Profit Margin
Operating Margin
ERO
ERO COPPER CORP
$1.96B13.90%6.90%10.22%9.00%0.871.1536.70%21.70%31.97%
TGB
TASEKO MINES LTD
$716.30M21.60%5.70%12.82%9.60%2.611.7728.70%15.80%34.81%
SCCO
SOUTHERN COPPER CORP
$86.45B31.10%14.30%28.17%20.80%1.253.1952.60%24.50%43.66%
IE
IVANHOE ELECTRIC INC
$1.15B-72.60%-51.20%-44.02%-72.90%0.305.4523.50%-5,108.30%-5,047.43%
FCX
FREEPORT-MCMORAN INC
$70.86B11.30%3.60%9.92%9.40%1.512.4231.30%8.10%20.27%
HBM
HUDBAY MINERALS INC
$2.85B3.40%1.30%4.71%4.00%1.531.2523.20%3.90%13.30%
MTAL
METALS ACQUISITION LTD
$677.19M-118.70%-18.20%-7.38%-7.70%3.870.3111.20%-90.90%-47.14%
1

Copper Stocks FAQ

What are the best copper stocks to buy right now in Apr 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 49, which is 14 points higher than the copper industry average of 35. It passed 16 out of 33 due diligence checks and has strong fundamentals. Ero Copper has seen its stock return 0.79% over the past year, underperforming other copper stocks by -32 percentage points.

2. Taseko Mines (NYSEMKT:TGB)


Taseko Mines (NYSEMKT:TGB) is the second best copper stock with a Zen Score of 47, which is 12 points higher than the copper industry average of 35. It passed 15 out of 33 due diligence checks and has strong fundamentals. Taseko Mines has seen its stock return 52.47% over the past year, overperforming other copper stocks by 19 percentage points.

Taseko Mines has an average 1 year price target of $2.50, an upside of 1.21% from Taseko Mines's current stock price of $2.47.

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. Southern Copper (NYSE:SCCO)


Southern Copper (NYSE:SCCO) is the third best copper stock with a Zen Score of 41, which is 6 points higher than the copper industry average of 35. It passed 16 out of 38 due diligence checks and has strong fundamentals. Southern Copper has seen its stock return 47.93% over the past year, overperforming other copper stocks by 15 percentage points.

Southern Copper has an average 1 year price target of $79.20, a downside of -29.17% from Southern Copper's current stock price of $111.82.

Southern Copper stock has a consensus Sell recommendation according to Wall Street analysts. Of the 5 analysts covering Southern Copper, 20% have issued a Strong Buy rating, 0% have issued a Buy, 0% have issued a hold, while 20% have issued a Sell rating, and 60% 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 3.4%, which is 2 percentage points higher than the copper industry average of 1.61%. 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 121% indicates that its 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 1.21%, which is the same as the copper industry average of 1.61%. 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 46.9% 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 0.21%, which is -1 percentage points lower than the copper industry average of 1.61%. 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 7.7% indicates that its dividend yield is sustainable for the long-term.

Why are copper stocks up?

Copper stocks were up 2.45% in the last day, and down -2.63% over the last week. Freeport Mcmoran was the among the top gainers in the copper industry, gaining 2.4% yesterday.

Freeport-McMoRan shares are trading higher after Argus Research maintained a Buy rating on the stock and raised its price target from $44 to $54.

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 26 points higher than the copper industry average of 45. It passed 5 out of 7 valuation due diligence checks.

Ero Copper's stock has gained 0.79% in the past year. It has underperformed other stocks in the copper industry by -32 percentage points.

2. Ivanhoe Electric (NYSEMKT:IE)


Ivanhoe Electric (NYSEMKT:IE) is the second most undervalued copper stock based on WallStreetZen's Valuation Score. Ivanhoe Electric has a valuation score of 71, which is 26 points higher than the copper industry average of 45. It passed 5 out of 7 valuation due diligence checks.

Ivanhoe Electric's stock has dropped -17.88% in the past year. It has underperformed other stocks in the copper industry by -51 percentage points.

3. Taseko Mines (NYSEMKT:TGB)


Taseko Mines (NYSEMKT:TGB) is the third most undervalued copper stock based on WallStreetZen's Valuation Score. Taseko Mines has a valuation score of 71, which is 26 points higher than the copper industry average of 45. It passed 5 out of 7 valuation due diligence checks.

Taseko Mines's stock has gained 52.47% in the past year. It has overperformed other stocks in the copper industry by 19 percentage points.

Are copper stocks a good buy now?

50% of copper stocks rated by analysts are a buy right now. On average, analysts expect copper stocks to fall by -12.07% 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 36.25x.
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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.