Copper stocks are publicly traded companies focused on mining copper. These companies will be the key beneficiaries of growing copper demand in the coming decades. Demand for copper is on track to surge 50% by 2040, driven in part by the need for copper in AI data centers.
A key driver is the vital role copper plays in supporting the electrification of the transportation sector and producing renewable energy. For example, electric vehicles use four times more copper than traditional cars. Meanwhile, a wind turbine uses 3 metric tons of copper for every megawatt of power produced.
This outlook bodes well for the copper industry. It suggests that copper prices could be much higher in the coming years. Here's a closer look at some of the top copper stocks that could benefit from the transition.
Top copper stocks to buy in 2026
Copper is the third-most-consumed industrial metal in the world behind iron ore and aluminum, according to the U.S. Geological Survey. Because of its importance to the economy, many mining companies operate copper mines.
However, while many companies produce copper, only a few can expand their copper production through reserves and commercially viable expansion projects. These resources position them to capitalize on the industry's growth. Top copper stocks include:
| Name and ticker | Market cap | Current price | Dividend yield |
|---|---|---|---|
| BHP Group (NYSE:BHP) | $165.0 billion | $64.97 | 3.39% |
| Freeport-McMoRan (NYSE:FCX) | $85.4 billion | $58.85 | 0.51% |
| Rio Tinto Group (NYSE:RIO) | $109.5 billion | $87.30 | 4.27% |
| Teck Resources (NYSE:TECK) | $25.0 billion | $51.24 | 0.70% |
| Southern Copper (NYSE:SCCO) | $136.4 billion | $176.41 | 1.74% |
Here's a closer look at these five leading copper company stocks.
1. BHP Group
NYSE: BHP
Key Data Points
BHP Group (BHP -0.97%) is an Australia-based leading global natural resource producer that mines copper, iron ore, nickel, metallurgical coal, and potash.
BHP operates several copper mines in South America (including the world's largest copper mine, Escondida) and one in Australia. The company expects to produce between 1.8 million and 2 million tons of copper in 2026. It's investing heavily in expanding its copper production at existing mines to meet growing demand.
BHP is also a co-owner of Resolution Copper with Rio Tinto (45%/55%). Located in Arizona, Resolution Copper is among the world's largest undeveloped copper projects. It could take eight to 10 years to build the mine at an estimated total cost of $64 billion. It could produce 40 billion pounds of copper over the course of 40 years, about a quarter of the projected U.S. copper demand.
In October 2025, the company announced a plan to invest over $550 million into expanding its Olympic Dam operations in Australia. This investment sets the stage for an even bigger expansion that could double its output by the mid-2030s, with approval on track for the middle of 2027.
The company's growing copper production should support higher dividend payments. BHP aims for a minimum dividend payout ratio of 50% of its cash flow. It often pays out additional dividends from its excess cash and repurchases shares.
2. Freeport-McMoRan
NYSE: FCX
Key Data Points
Freeport-McMoRan (FCX -2.86%) is one of the world's largest publicly traded copper producers. It also produces gold and molybdenum, an element used in high-strength steel alloys.
The crown jewel of Freeport's portfolio is the Grasberg mine in Indonesia, one of the world's largest single copper and gold sources. Freeport also operates large-scale mines in Arizona and Peru. The company produced 3.5 billion pounds of copper in 2025. Its operations account for 70% of the refined copper production in the U.S.
Freeport's extensive organic development pipeline could add significant copper production in the coming years. Initiatives to improve leaching (a chemical process used to extract copper from ore) and a potential change in leaching technology could add 800 million pounds to its annual production capacity by the end of 2030. Meanwhile, several potential expansion projects could add significant production capacity over the medium and long term.
The mining company's growing copper production should support increasing cash returns to shareholders. Freeport has set a framework to use as much as 50% of its excess cash flow for shareholder returns, including dividends and share repurchases.
Cash Flow
3. Teck Resources
NYSE: TECK
Key Data Points
Teck Resources (TECK -3.32%) is a mining company based in Canada. It has world-class copper and zinc operations across North and South America and an industry-leading copper growth pipeline.
The company agreed to a merger of equals transaction in late 2025 with Anglo American (NGLOY -3.08%). The transaction will create a larger-scale, copper-focused mining company (copper will account for more than 70% of its production). The new company, to be named Anglo Teck, will hold an industry-leading portfolio that will feature world-class copper assets and high-quality, premium iron ore and zinc businesses.
Anglo Teck will own interests in five leading copper mines across Canada, Chile, and Peru. It will be a top-five global producer with meaningful growth potential (10% production growth through 2027).
4. Southern Copper
NYSE: SCCO
Key Data Points
Southern Copper (SCCO -4.16%) is one of the largest integrated copper producers in the world. It operates copper mines in Mexico and Peru. The company is majority-owned by Grupo Mexico (GMBXF +2.08%), a conglomerate focused on mining, transportation, and infrastructure.
Southern Copper is the fifth-largest copper-producing company in the world. It has some of the lowest copper production costs in the industry and holds the largest copper reserves among all copper stocks. That provides it with ample opportunity to expand its output.
Southern Copper sees significant production growth ahead. The company's board has approved several projects that will add 156,000 tons to its output by 2027. Meanwhile, it has many other projects in the pipeline that could add another 545,000 tons to its annual output by 2032.
Its strong copper growth pipeline and low costs put Southern Copper in an excellent position to capitalize on rising demand.
5. Rio Tinto
NYSE: RIO
Key Data Points
Copper-driven growth
The world needs more copper to support its transition to lower-carbon renewable energy. Demand for the metal should rise considerably in the coming years. The increased demand should support additional copper expansion projects from the world's top mining companies, allowing them to increase production and capitalize on higher prices.
The combination of rising production and prices should enable copper miners to increase their cash flow, providing more money to pay dividends, repurchase shares, and boost their total returns. The upside potential makes the copper industry attractive for investors to consider.
In addition to copper mining stocks, investors could consider investing in an exchange-traded fund (ETF) focused on copper. Copper ETFs provide similar upside exposure to rising copper prices. An ETF focused on copper mining stocks is less risky than investing in a single copper mining company that could underperform due to a number of issues.
Benefits and risks of investing in copper stocks
Some of the benefits of investing in copper stocks include:
- Capitalizing on the expected growth in copper demand.
- The potential to collect passive income from dividends.
- The potential to help hedge your portfolio against some of the impacts of inflation.
- The potential for an individual copper stock to outperform the price of copper and other copper stocks.
Meanwhile, some of the risks of investing in copper stocks include:
- Copper price volatility.
- Mining cost overruns.
- Geopolitical issues.
- A copper stock underperforms the price of copper.
Criteria for selecting the best copper stocks
Investors need to evaluate potential copper mining investments carefully. Factors to consider when looking for the best copper stocks include:
- Scale: Companies with large-scale copper operations tend to have lower risk profiles, lower cost operations, and better long-term growth prospects.
- Low operating costs: Copper producers with lower cost operations can produce more cash flow during periods of lower prices and really cash in when copper prices increase.
- Financial strength: The copper sector is cyclical and capital-intensive. As a result, copper companies need to have a strong investment-grade balance sheet to weather the inevitable cyclical downturn and to fund mining expansion projects and other capital investments.
- Visible growth profiles: A copper miner needs to have large reserves and evident future growth potential from mine expansions and development projects.
Future of Copper Stocks
Copper demand could grow 50% by 2050, driven by increased electrification, AI data centers, and other catalysts. AI has emerged as a potential accelerator for copper demand over the past year. Tech companies need copper and other critical minerals to build wiring, cables, circuit boards, and other electronic parts for new data centers. Rising copper demand should benefit copper companies, as it should enable them to grow their operations and shareholder value.
FAQ
Investing in copper stocks: FAQ
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