10 Best Copper Stocks to Buy Right Now

5. Hudbay Minerals Inc. (NYSE:HBM)

​Number of Hedge Fund Holders: 40

Hudbay Minerals Inc. (NYSE:HBM) is one of the best copper stocks to buy right now. On November 24, BofA lifted the price target on Hudbay Minerals Inc. (NYSE:HBM) $21.50 from $19.50 while keeping a Buy rating on the stock.

The firm told investors that it refreshed its price forecasts for the North American Metals & Mining stocks under its coverage, and stated that it sees a challenging macro backdrop because of China’s slowing commodity demand. However, it noted that the trends may be offset by a rebound in demand in Europe and the United States.

Similarly, BMO Capital analyst Matthew Murphy also raised the price target on Hudbay Minerals Inc. (NYSE:HBM) to C$24 from C$23 on November 18 while keeping an Outperform rating on the shares. The firm told investors that it updated its model to take into account the Q3 results.

Hudbay Minerals Inc. (NYSE:HBM) announced its fiscal Q3 2025 results on November 12, reporting that it achieved consolidated copper production of 24,205 tonnes and consolidated gold production of 53,581 ounces in the quarter, which reflects strong operational resilience as the Manitoba operations were suspended for the majority of the quarter because of temporary operational interruptions in Peru and wildfire evacuations.

In addition, RBC Capital also lifted the price target on Hudbay Minerals Inc. (NYSE:HBM) to C$26 from C$24 on November 17 and maintained an Outperform rating on the shares. It told investors that the company is continually generating strong free cash flow and is benefiting from high copper and gold prices, supporting the optimistic outlook for the stock.

The firm added that it expects further upside in the shares as the company unlocks regional opportunities in Peru and Manitoba and de-risks the Copper World project in Arizona.

Hudbay Minerals Inc. (NYSE:HBM) is a mining company that produces copper concentrate, molybdenum concentrate, and zinc metal. The company’s focus is on the production, discovery, and marketing of base and precious metals.