How can I invest in cobalt?

You can invest in cobalt by buying shares of mining companies or a commodity streaming company that derives some of its revenue from cobalt. Another option is to invest in an ETF that focuses on commodities, mining, or battery technology.

What company sells the most cobalt?

CMOC Group is the world's leading supplier of cobalt, according to Mining.com. The company recently surpassed Glencore to become the top producer.

Why is cobalt metal in such high demand?

Cobalt is in high demand because it's a key component in battery technology, particularly for those that power EVs. However, it also has a broad range of uses across industries such as aerospace, manufacturing, and medical technology.

Where is cobalt mined?

Almost three-quarters of cobalt is mined in the Democratic Republic of Congo. Indonesia is the second-largest producer, but it only accounts for about 5% of the world's cobalt production.

What factors influence cobalt stock prices?

Changes influence cobalt stock prices through spot cobalt prices, mining operations, new site developments, supply constraints (especially due to production changes in the Democratic Republic of the Congo), and global demand, particularly from EV makers. However, since cobalt accounts for a small share of revenue for most companies that mine it, production and supply-and-demand factors related to the primary metals it mines (such as copper or nickel) tend to have a greater impact on profits.

What are the tax implications of investing in cobalt stocks?

The tax implications of investing in cobalt stocks are the same as those for investing in any publicly traded company. Profits are taxed at your regular tax rate if you buy cobalt stocks and sell them in one year or less. However, you'll lock in more favorable long-term capital gains rates of 0%, 15%, or 20% if you hold the stock for more than a year.

Best Cobalt Stocks in 2026 and How to Invest in Them

Best Cobalt Stocks in August 2026 and How to Invest in Them

By Robin Hartill, CFP – Updated Aug 2, 2026 at 7:56 PM EST | Fact-checked by Frank Bass

Key Points

Cobalt is typically mined as a byproduct of copper or nickel.
Congo's cobalt output restrictions spiked prices, despite earlier surplus causing a price drop.
Invest in cobalt stocks by buying shares in mining companies or related ETFs for portfolio diversification.

Cobalt is a base material used in manufacturing. Usually a byproduct of refining copper or nickel, this element is used in items that include electric vehicle (EV) batteries, industrial equipment parts, and paints.

Particularly due to rising demand for lithium-ion batteries in electronic devices and electric cars, cobalt prices rose steadily in 2021 and 2022. Mining companies increased output in response, leading to a cobalt surplus.

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A cobalt mine with the sun setting in the background. — Image source: Getty Images.

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Demand also dropped for several reasons, including the development of low-cobalt batteries and concerns about human rights and environmental abuses in the Democratic Republic of Congo, where more than 70% of cobalt was mined in 2024. By mid-2024, the spot price of cobalt was down more than 60% from the highs it reached about two years prior.

Facing an oversupply and tanking prices, the Democratic Republic of Congo announced a temporary ban on cobalt exports in early 2025. The ban increased the price of cobalt by a little more than one-third in the first half of 2025. The ban ended in October 2025, but it's been replaced by an export quota that will restrict DRC cobalt exports in 2026 and 2027 to roughly half of 2024 levels. Reduced supply has pushed cobalt prices up by around 70% year over year as of July 2026.

Top cobalt stocks for 2026

Like any other commodity, cobalt prices can be highly volatile. Additionally, since cobalt is a byproduct, there aren't really any pure-play cobalt stocks within the metal mining industry. Many cobalt stocks aren't listed on a U.S. exchange.

Here are five stocks to watch in 2026 that are involved in the production of cobalt:

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Ticker Information Table
Market capMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.	Current price	Dividend yield
$222.2 billion	$87.46	3.04%
$63.2 billion	$14.83	0.99%
$87.0 billion	$14.87	1.82%
$52.4 billion	$115.41	0.62%
$43.6 billion	$2.05	2.03%

Data as of Aug 5, 2026. Showing 5 of 5 total entries.

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1. BHP Group

NYSE: BHP

BHP Group

Today's Change

(4.74%) $3.96

Current Price

$87.46

Key Data Points

Market Cap

$222B

Day's Range

$86.55 - $87.97

52wk Range

$51.45 - $93.83

Volume

27K

Avg Vol

2.7M

Gross Margin

40.96%

Dividend Yield

3.04%

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One of the world's largest mining companies, BHP Group (BHP +4.74%) is an Australian-based company with operations worldwide. Copper and nickel are among its top products, so cobalt (one of the byproducts of refining these two metals) is naturally mined by BHP. The company is consistently profitable and tends to generate operating profit margins well into double digits.

2. Vale S.A.

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NYSE: VALE

Vale

Today's Change

(1.72%) $0.25

Current Price

$14.83

Key Data Points

Market Cap

$63B

Day's Range

$14.79 - $15.06

52wk Range

$9.14 - $17.94

Volume

17.2K

Avg Vol

23.2M

Gross Margin

34.32%

Dividend Yield

0.99%

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Vale (VALE +1.72%) is another top producer of metals and base materials. Based in Brazil, it is one of Latin America's largest companies. It is the world's top producer of iron and nickel, as well as a top producer of other metals used in battery manufacturing, such as manganese and copper. As a miner of nickel and copper, Vale is also an ancillary supplier of cobalt, though it isn't a significant source of revenue for the company.

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3. Glencore

OTC: GLNCY

Glencore Plc

Today's Change

(2.34%) $0.34

Current Price

$14.87

Key Data Points

Market Cap

$87B

Day's Range

$14.72 - $14.92

52wk Range

$7.44 - $16.62

Volume

580.1K

Avg Vol

673.7K

Gross Margin

2.05%

Dividend Yield

1.82%

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Switzerland-based Glencore (GLNCY +2.34%) is another global mining operation. Among its energy, recycling, and mining assets is the production of base metals, including copper, nickel, and, of course, cobalt. In fact, Glencore is one of the world's top cobalt producers, primarily as a byproduct of its copper mines in the Democratic Republic of Congo.

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4. Wheaton Precious Metals

NYSE: WPM

Wheaton Precious Metals

Today's Change

(3.17%) $3.55

Current Price

$115.41

Key Data Points

Market Cap

$52B

Day's Range

$113.10 - $116.37

52wk Range

$90.94 - $165.76

Volume

Avg Vol

Gross Margin

74.68%

Dividend Yield

0.62%

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As its name suggests, Wheaton Precious Metals (WPM +3.17%) is an investment in elements like gold and silver. In addition to precious metals, Wheaton acquires significant amounts of cobalt. Although not directly involved in the production of base materials such as cobalt, Wheaton occupies a valuable niche in the global mining space. It's also very profitable and pays dividends for investors seeking income.

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5. CMOC Group Ltd.

OTC: CMCLF

Cmoc Group

Today's Change

(-2.38%) $-0.05

Current Price

$2.05

Key Data Points

Market Cap

$44B

Day's Range

$2.05 - $2.15

52wk Range

$1.03 - $3.55

Volume

Avg Vol

23.2K

Gross Margin

26.31%

Dividend Yield

2.03%

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China is the world’s largest market for electric vehicles. It is also a major consumer of cobalt, and CMOC Group Ltd. (CMCLF -2.38%) (formerly China Molybdenum) is a top producer of the element. Through its copper mining assets in the Democratic Republic of Congo, CMOC Group Ltd. is one of the world’s largest producers of cobalt (which it derives as a byproduct of copper refining).

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How to invest in cobalt stocks

Open your brokerage app: Log in to your brokerage account where you handle your investments.
Search for the stock: Enter the ticker or company name into the search bar to bring up the stock's trading page.
Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
Submit your order: Confirm the details and submit your buy order.
Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.

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Benefits and risks of investing in cobalt stocks

Investing in cobalt stocks has a few benefits, including:

Potential for high returns: Due to high volatility, cobalt stocks (and commodities in general) can generate outsize returns, but they're best suited for those with a high risk tolerance and a long time horizon.
Supply constraints: Tightened supply from the Democratic Republic of Congo has sharply pushed up cobalt prices in 2026.
Exposure to other metals: Few pure-play cobalt stocks exist because cobalt is overwhelmingly mined as a byproduct of copper and nickel, so investing in cobalt stocks gives you exposure to other metals. The primary metals that a company mines are more likely to drive profits than cobalt alone.

Some of the big risks of investing in cobalt stocks include:

Shifting demand: Although there's still strong demand for cobalt, particularly in the EV industry, many battery makers are shifting toward lithium iron phosphate (LFP) batteries, which don't require cobalt. That creates a fair degree of uncertainty about cobalt prices in the long term.
Geopolitical uncertainties: About three-quarters of the global cobalt supply was mined in the Democratic Republic of Congo, a country rife with geopolitical instability. Though the country's quotas drove prices higher in the first half of 2026, the high concentration in this troubled part of the globe should give investors pause.

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Methodology: How these stocks were chosen

To choose the best cobalt stocks, we looked at publicly traded companies with a market cap of at least $300 million that have some exposure to cobalt production. Because cobalt is typically mined as a byproduct of refining copper and nickel, it accounts for a relatively small share of revenue for most of the selected companies. We avoided the very few public pure-play cobalt companies that exist because of their substantial volatility and speculative nature, focusing instead on companies with a track record of steady profits and operational efficiency.

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Should you invest in cobalt stocks?

Cobalt stocks could be a good investment if you're bullish on the future of EVs, rechargeable batteries, and clean energy. However, they're appropriate only if you're comfortable with a high-volatility, high-risk investment.

That said, very few pure-play cobalt mining companies exist. Cobalt is typically a byproduct of copper or nickel refining and usually accounts for a small share of revenue for most mining companies. Changes in cobalt prices or global demand are unlikely to be a game changer, particularly for well-diversified companies.

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Investing in cobalt stocks: FAQ

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About the Author

Robin Hartill, CFP, is a contributing writer at The Motley Fool. Robin’s work has also been published by Yahoo Finance, USA Today, and Penny Hoarder. She is a graduate of the University of Florida.

TMFRobinHartill

Robin Hartill, CFP has no position in any of the stocks mentioned. The Motley Fool recommends BHP Group. The Motley Fool has a disclosure policy.

Best Cobalt Stocks in August 2026 and How to Invest in Them

Key Points

Top cobalt stocks for 2026

1. BHP Group

Key Data Points

2. Vale S.A.

Key Data Points

3. Glencore

Key Data Points

4. Wheaton Precious Metals

Key Data Points

5. CMOC Group Ltd.

Key Data Points

How to invest in cobalt stocks

Benefits and risks of investing in cobalt stocks

Methodology: How these stocks were chosen

Should you invest in cobalt stocks?

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Investing in cobalt stocks: FAQ

How can I invest in cobalt?

How can I invest in cobalt?

What company sells the most cobalt?

What company sells the most cobalt?

Why is cobalt metal in such high demand?

Why is cobalt metal in such high demand?

Where is cobalt mined?

Where is cobalt mined?

What factors influence cobalt stock prices?

What factors influence cobalt stock prices?

What are the tax implications of investing in cobalt stocks?

What are the tax implications of investing in cobalt stocks?

About the Author

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Top cobalt stocks for 2026

Key Data Points

Key Data Points

Key Data Points

Key Data Points

Key Data Points

How to invest in cobalt stocks

Benefits and risks of investing in cobalt stocks

Methodology: How these stocks were chosen

Should you invest in cobalt stocks?

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Investing in cobalt stocks: FAQ

How can I invest in cobalt?

How can I invest in cobalt?

What company sells the most cobalt?

What company sells the most cobalt?

Why is cobalt metal in such high demand?

Why is cobalt metal in such high demand?

Where is cobalt mined?

Where is cobalt mined?

What factors influence cobalt stock prices?

What factors influence cobalt stock prices?

What are the tax implications of investing in cobalt stocks?

What are the tax implications of investing in cobalt stocks?

2. Vale S.A.