12 Best Copper Stocks to Buy According to Hedge Funds

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

Number of hedge fund holders: 37

Vale S.A. (NYSE:VALE) is one of the best copper stocks to buy according to hedge funds. On August 1, Bank of America Securities analyst Caio Ribeiro reiterated a Buy rating on the stock. The positive stance stems from the company delivering solid second-quarter results, characterized by rising production volumes and declining costs year-over-year across all commodities.

The efficiency-driven mindset was the catalyst behind Vale S.A.’s EBITDA reaching $3.4 billion, representing a 7% quarter-over-quarter increase. The company’s cash cost declined 11% year-over-year to $22.20 per ton, as the all-in-cost declined 10% year-over-year to $55.30 per ton.

The all-in cost in copper production declined 60% to $1,400 per ton. The reduction was driven by strong performance in the company’s Salobi and Sossego mines in Brazil, along with higher by-product revenues from higher gold prices.

Vale S.A. (NYSE:VALE) is a mining company that explores for, extracts, and processes copper. It is a major player in the global copper market, with operations in several countries, including Brazil, Canada, and Chile. Vale’s activities include mining operations, beneficiation, and logistics, ensuring a mine-to-market pathway for copper.