The 10 Best Copper Stocks For 2023

January 24, 2023

The Best Copper Stocks To Watch & buy in 2022

The 10 Best Copper Stocks For 2022

This post is a rundown of the top copper stocks for you to invest in this new year.

Copper is a material that many traders in metal stocks often overlook. Not nearly as rare or as highly priced as either gold or silver, it's understandable by copper might not be too high on the mind of someone looking to invest in metals stocks.

But as many experienced traders might tell you, copper is one of the most valuable metals in the world in terms of reach. The material is essential in many different industries. It's used for electrical products like wires, motors, mobile devices, while also being needed in consumer ware and interior components of housing.

And as the demand for electric vehicles rises, the need for copper is only about to increase as well. Even now, copper is being rapidly consumed for its ability to offer durability, high conductivity, and efficiency, and is used in EV vehicles, charging stations, and other EV-related products.

The recycling of copper is also being seen as an emerging industry too, especially as the overall sustainability of copper mining is being called into question.

Now that we're entering a new year, there's a lot of positive buzz surrounding copper's potential to provide handsome profit. If you're one of those traders looking to cash in on this lucrative metal, here's a list of the best copper stocks we're watching for 2022!

1. Barrick Gold Corporation (NYSE: GOLD)

Market Value: $32.5 Billion

Dynamic Stock Chart for TICKER GOLD

#1 in our list of copper stocks to buy is the Barrick Gold Corporation. Apart from copper, the Barrick Gold Corporation, as the name implies, also specializes in the mining of gold. With operations in about 10 countries, there's no question that this company has a diversified portfolio. The stocks of companies that don't have all their eggs in one basket are generally more stable and dependable.

Over the past three months alone, the stocks of Barrick Gold have offered almost 3% of returns on investment and, in the first quarter of 2021, reported a 31% quarter-to-quarter increase in revenue from copper mines in Chile, Saudi Arabia, and Zambia. There's also a lot of promise with their newly announced mining venture into Papua New Guinea.

Sadly, the company does not offer any dividend which might deter you if you're looking to acquire a source of passive income.

Currently, there are a total of 49 hedge funds with investments worth $1.3 billion.

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2. Teck Resources Limited (NYSE: TECK)

Market Value: $15.10 Billion

Dynamic Stock Chart for TICKER teck

Coming in 2nd of our recommended copper stocks, this natural resources firm deals in the mining of copper, zinc, and other metals. Over the past 12 months alone, the company has provided a whopping 102% return of investment to very happy

traders. It has operations in Australia, Chile, Ireland, Mexico, Peru, Turkey, and the United States, among others. Teck Resources Limited also holds the distinction of being one of the largest mining firms in Canada and South America.

During the second quarter of 2021, Deutsche Bank upgraded the ranking of the company to a Buy From Hold rating with a future price projection of $30 on its shares. This indicates a positive outlook on the companies stocks and its ability to provide profits for investors in the medium term. The company also offers a dividend yield of 0.55%, not particularly large but a nice little touch if you're into passive income.

Overall, there are 30 hedge funds currently invested in the company. The largest of those funds is the Boston-based firm, Arrowstreet Capital, which possesses 9.3 million shares worth more than $179 million.

3. BHP Group (NYSE: BHP)

Market Value: $149.97 Billion

Dynamic Stock Chart for TICKER BHP

Third in our copper stocks list and founded in Australia, the BHB Group is a natural resources firm with interests in petroleum, copper, iron, and coal. It acquires most of its copper from operations in Chile and South Australia though it owns a few copper-related assets in other countries as well. Over the past 12 months, the company has offered a return on investment of 43%. This is quite a feat considering the copper mining stocks market (along with the global economy) took a serious hit as a whole due to the pandemic.

With the recent dispelling of rumors surrounding a strike by Chilean miners, the shares of the BHP Group jumped by 1% during the second quarter of 2021. Dividend investors might also be interested to know that the company offers a dividend yield of 11.88% -making for an attractive option for passive income if for nothing else. There are a total of 18 hedge funds invested in the company. The largest one is Fisher Asset Management with 7.9 million in shares that are worth more than $553 million.

4. Vale S.A. (NYSE: VALE)

Market Value: $70.34 Billion

Fourth in our copper stocks list, and ene of the largest mining firms in Brazil, the company deals in the production of iron ore, nickel, and other metals. Apart from mining, Vale S.A. also provides logistical services related to the metals it mines. Easily one of the best-performing companies on this list, Vale S.A. has provided almost 110% returns on investment over the past 12 months. Impressively, the firm produced almost 360,000 metric tons of copper in 2022.

All these successes are even more surprising considering that, during the second quarter of 2021, the company saw two of its mines shut down due to safety concerns. There are a total of 31 hedge

funds invested in the company. The largest of these funds is the Washington-based, Fisher Asset Management, with 38 million shares worth more than $661 million.

5. Turquoise Hill Resources Ltd. (NYSE: TRQ)

Market Value: $3.34 Billion

Dynamic Stock Chart for TICKER TRQ

Fifth in our list of copper stocks, and prioritizing mostly on gold and copper production and development, the company has had a stellar year and surpassed a lot of its expectations. Over the past year, the company has generated over 140% in returns on investments. In 2020, it also produced over 149,000 tons of copper, beating projections of 140,000 tons.

During the first quarter of 2021, the company reported revenues of $520 million which was up by 300% year-on-year. Earnings like this more than make up for the sad fact that the company does not engage in paying out dividends.

There are currently 13 hedge funds investing a total of $575 million worth of shares in the company. This is higher than the 12 hedge funds of the previous quarter.

6. Hudbay Minerals Inc. (NYSE: HBM)

Market Value: $2.42 Billion

Sixth in our copper stocks list is Hudbay Minerals Inc. They're a Canadian mining firm that focuses mostly on the mining of zinc and copper. They boast several operations around North and South America, the most famous one being their mines in the Flin Flon area of Manitoba which have been ongoing for nine decades.

Recently, the Bank of America has elevated to share rating of the company from Underperform to Buy, indicating their belief in the coming rise in copper prices. Hudbay Minerals Inc. has shares that have returned more than 116% to investors over the past 12 months.

There are 15 hedge funds invested in the company. The largest of these shareholders is GMT Capital with 37 million shares worth more than $259 million.

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7. Newmont Corporation (NYSE: NEM)

Market Value: $47.47 Billion

Dynamic Stock Chart for TICKER NEM

Seventh in our list of copper stocks is the Newmont Corporation, Not only is the Newmont Corporation one of the largest gold mining companies in the world, but they also have large interests in copper and other minerals.

Founded in the United States, the firm operates in over 10 countries. When it comes to mining copper, it's hard to compete with a company that produced 56 million pounds of it even during the Covid-19 pandemic.

The company was the top-performing stock in the middle of 2021. Its shares gained a full 5% amid the hectic climate of the gold and mineral stock markets. Income investors might also be happy to hear that the company offers a dividend yield of 3.66%, making it an ideal investment option for the long haul.

All this goes to show that good management and favorable relations make the shares of the Newmont Corporation as stable as they come. The company has also expressed great optimism moving into 2022 now that many of the pandemic's restrictions are slowly being lifted.

As of 2021, there are a whopping 43 hedge funds tied into the company's stocks. Their stakes combined are estimated to be around $994 million in worth.

8. Rio Tinto Group (NYSE: RIO)

Market Value: $107.29 Billion

Dynamic Stock Chart for TICKER RIO

The Rio Tinto Group is our eighth in the recommended list of copper stocks holds the distinction of being the second-largest mining company in the world. The company produces copper, aluminum, gold, silver, as well as other metals. On top of that, the company also has substantial interests in uranium and iron, making for quite a diverse portfolio. Producing over 520,000 metric tons of copper in 2020, the Rio Tinto Group has provided investors with returns of over 40% over the past 12 months.

Recently, the firm announced a partnership with an Australian firm in a shift towards the usage of hydrogen instead of natural gas in their refineries. This is to reduce their CO2 emissions and curb the negative views the public has about mining companies being environmentally irresponsible.

Looking out for such developments might serve useful to investors as such positive changes in company practices usually lead to an increase in share prices.

With over a hundred years of history, this London-based company also provides a hefty 10.35% in dividend yield for the more long-term-minded investors.

Out of the 25 hedge funds currently investing in the Rio Tinto Group, Fisher Asset Management is the largest with over 12.5 million shares worth more than $971 million.

9. Southern Copper Corporation (NYSE: SCCO)

Market Value: $46.54 Billion

Dynamic Stock Chart for TICKER SCCO

If you're looking for copper mining companies to invest in, the Southern Copper Corporation is the way to go. The Mexico-based company mined almost one million metric tons of copper in 2019.

Copper products account for more than 80% on average of the total sales earned by Southern Copper Corporation.

Although share prices took a hit during the pandemic, Southern Copper still managed to provide returns of 64% to investors over a 12-moth period. And with the pandemic slowly winding down, capitalizing on the stocks of this company might be as important now as ever.

Income investors are also quite fond of Southern Copper. It offers an impressive $0.70 per share with a forward yield of 3.85%. This is an increase of 13% compared to the dividend of last year. Put simply, the stock of the Southern Copper Corporation is a good option for those looking to find a form of passive income in the stock market.

There are 27 hedge funds currently investing in Southern Copper, a good indicator of its profitability. The largest of these funds is Fisher Asset Management with over $270 million worth of shares.

10. Freeport-McMoRan Inc. (NYSE: FCX)

Market Value: $60.42 Billion

Dynamic Stock Chart for TICKER FCX

Tenth but not least in our copper stocks list, an American company, Freeport-McMoRan Inc. is known for owning several open-pit mines in North America: Bagdad, Safford, Sierrita and Miami, Chino, and Tyrone. They also have operations in Africa, Asia, and Europe - mainly specializing in the exploration and mining of copper, gold, silver, and other precious metals.

A testament to their success is the fact that they have provided investors with returns of over 230% in a little under a year. The company also has a P/E ratio of 15.89 and a dividend yield of 0.72%. As of 2019, almost 80% of the company's total revenue comes from copper.

There are a total of 68 hedge funds investing stakes worth $3.2 billion.

Bottom Line...

And those were the 10 best copper stocks to invest in this 2022. Whereas gold or other minerals might be offer higher returns, copper is often the safer bet when engaging in metals investment. And although there's no such thing as guarantees where the stock market is concerned, these copper stocks come pretty close enough.

It's important to note though that proper research and close observation are essential when investing in copper stocks. Do your research on the copper industry, copper prices, copper production, even copper miners ETF.

When you're armed with the right information and are hands-on with the management of your finances, the chances of your investments bearing fruit increases dramatically. Practicing your due diligence is important. On that front, we certainly hope this article was helpful. Happy trading!

About the author 

Jenna Lofton, an expert in stock trading, investing, and financial planning, combines over a decade of experience with rigorous academic training. Holding dual MBAs in Finance and Business Administration from the University of Maryland, Jenna's expertise is grounded in a deep understanding of the financial markets. Her career, which started on Wall Street, has evolved into empowering others through her insights and analyses in the dynamic world of finance.

Based in New York City, Jenna's approach is informed by her hands-on experience as a former financial advisor and her keen observation of market trends. She is known for translating complex financial concepts into actionable strategies, making her a valuable resource for both seasoned investors and newcomers to the stock market. Her commitment to financial literacy and her ability to demystify investment principles have made her a respected and authoritative voice in the investment community.

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