In this article, we will take a look at the 12 Best Copper Stocks to Buy According to Hedge Funds.
Stocks exposed to copper production could be the biggest winners as US President Donald Trump imposes 50% tariffs on the metal. Analysts at Bank of America have already warned that the escalating tariff war surrounding the metal is likely to fuel a significant price spike, much to the benefit of copper mining companies.
The announcement of a 50% tariff sent the copper September future contract on the CME skyrocketing 13%, the biggest daily performance since 1989. Likewise, Bank of America analysts have already noted that CME copper prices typically outperform global prices on the London Metal Exchange by approximately 600 points.
“For copper producers that sell on CME pricing, this would mean higher realized revenues,” Bank of America’s Lawson Winder told clients.
Copper prices in the US are expected to increase significantly, given that the country imports just under half of its copper demand. Prices could reach as high as $15,000 per metric ton of copper in the US, while the rest of the world pays around $10,000 a ton under a 50% tariff rate.
Analysts at Citi have already called it a watershed moment for the copper market in 2025.
“Imminent flagged tariff implementation should abruptly close the window for further significant U.S.-bound copper shipments (possibly for the rest of 2025),” they said in a Wednesday note, saying this would cause a pullback in ex-U.S. pricing.
With Grandview Research projecting that the copper market is growing at a compound annual growth rate of 6.5%, now would be the best time to pay close attention to copper stocks. The market is expected to reach $339.95 billion by 2030, driven by strong demand from the renewable energy sector. With China, the US, and the European Union setting ambitious standards for net-zero emissions, copper demand is expected to skyrocket.
Our Methodology
To compile the list of the Best Copper Stocks to Buy According to Hedge Funds, we scanned for companies with significant exposure to the exploration, mining, and production of the critical metal. Next, we narrowed our focus to companies backed by solid underlying fundamentals, such as earnings growth and strong production capacity, and popular among elite hedge funds. Finally, we ranked the stocks in ascending order based on the number of hedge funds (as of Q1 2025) that hold stakes in them.
Why are we interested in the stocks that hedge funds pile into? The reason is straightforward: our research has demonstrated that we can outperform the market by replicating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
12. Taseko Mines Ltd. (NYSE:TGB)
Number of hedge fund holders: 10
Taseko Mines Ltd. (NYSE:TGB) is one of the best copper stocks to buy according to hedge funds. On August 6, the company confirmed it is making significant progress on the development of its core copper projects, including Florence Copper, which is on schedule and budget.
Production at the Florence Copper project is poised to begin within the next six months, even as mining operations in Gibraltar continue to make progress with the advancement of the deeper Connector Pit. The ramping up of production activities is expected to result in increased copper production and a more substantial cash flow.
The remarks come as Taseko Mines delivers solid second-quarter results. Earnings from mining operations totaled $20.7 million with adjusted EBITDA of $17.4 million. Net income totaled $21.9 million, or $0.07 per share, leading to an adjusted net loss of $13 million, or $0.04 per share, which was worse than the expected loss of $0.02 per share. Revenue in the quarter totaled $116.08 million, better than the expected $93.98 million. The company produced 19.8 million pounds of copper in Gibraltar.
Taseko Mines Ltd. (NYSE:TGB) is a mining company that focuses on the operation and development of copper mines in North America. It is best known for the Gibraltar Mine in British Columbia, which is the second-largest copper mine in Canada, and for advancing the Florence Copper project in Arizona.
11. MAC Copper Ltd (NYSE:MTAL)
Number of hedge fund holders: 14
MAC Copper Ltd (NYSE:MTAL) is one of the best copper stocks to buy according to hedge funds. On August 8, MAC Copper Limited announced that Harmony Gold Mining Company Limited (NYSE:HMY) received regulatory approval from South Africa’s Reserve Bank for its proposed acquisition of MAC.
This marks a key milestone in the transaction, which is structured under Jersey law and aims for Harmony’s Australian subsidiary to acquire 100% of MAC Copper’s issued share capital. MAC CEO Mick McMullen called the approval “another significant step” toward completing the deal.
The acquisition still requires shareholder approval at meetings scheduled for August 29, 2025, in Jersey, with voting eligibility based on the July 29 share register. Additional conditions include clearance from Australia’s Foreign Investment Review Board, court sanctioning, and fulfillment of terms in the Streams Restructure Deed. MAC’s board unanimously recommends shareholders vote in favor of the scheme, which supports its strategy of investing in metals and mining assets aligned with global electrification and decarbonization goals.
MAC Copper Ltd (NYSE:MTAL) is focused on operating and acquiring metals and mining businesses, particularly those involved in copper and other minerals critical for the global energy transition.
10. Ero Copper Corp. (NYSE:ERO)
Number of hedge fund holders: 15
Ero Copper Corp. (NYSE:ERO) is one of the best copper stocks to buy according to hedge funds. On August 1, the company delivered its second-quarter results, which showed improvements in production and operational efficiency. Consequently, it achieved an adjusted EBITDA of $82.7 million and an adjusted net income of $0.46 per share, representing a 31% increase from the first quarter. Cash flow from operations improved to $90.3 million from $65 million in the previous quarter.
During the quarter, Ero Copper produced 15,513 tons of copper and 7,743 ounces of gold. Copper production at the Caraiba’s mine was up 25% quarter over quarter to 9,200 tons as cash costs at the mine declined 7% to $2.07/ib. Cost reduction was driven by operational enhancements, optimized maintenance routines, and improved water management.
Ero Copper also achieved a significant milestone at Tacuma, where commercial production commenced on July 1, 2025. Copper production was up 25% quarter over quarter to 6,400 tons, with throughput levels exceeding 75% of design capacity.
In the second half of 2025, Ero Copper anticipates consecutive output increases at Tucumã and Caraíba. As previously mentioned in its strategic objectives, the company’s emphasis on deleveraging puts it in a position to perhaps start generating shareholder returns.
Ero Copper Corp. (NYSE:ERO) is a high-growth copper producer with operations in Brazil. The company focuses on producing and selling copper, with gold and silver as by-products. Its flagship projects include the Caraíba Operations (underground and open-pit copper mines) and the Tucumã Operation (an open-pit copper mine) in Brazil.
9. Ivanhoe Electric Inc. (NYSE:IE)
Number of hedge fund holders: 18
Ivanhoe Electric Inc. (NYSE:IE) is one of the top copper stocks to buy, according to hedge funds. On August 6, the company delivered mixed second-quarter results that highlighted significant developments and solid financial metrics.
The company reported a quarterly loss of $0.16 per share, in line with consensus estimates. It was a significant improvement from a loss of $0.39 per share delivered in the same quarter last year. Revenue in the quarter totaled $1.07 million, beating consensus estimates by 44.32%. It was also an improvement from $0.54 million in revenues delivered in the same quarter last year.
During the quarter, the company’s cash and cash equivalents increased significantly to $88.05 million from $40.97 million at the end of 2024. The successful completion of the public offering and investments in subsidiaries drove the improved financial position.
The company also reiterated that its Santa Cruz Copper Project in Arizona is on track and remains a key focus of its long-term prospects. A preliminary feasibility study has already confirmed economic viability, with an expected production of 1.4 million tons of copper cathode over a 23-year mine life.
Ivanhoe Electric Inc. (NYSE:IE) is a mineral exploration and development company. It focuses on developing mines for critical metals, with a primary emphasis on copper, which is in high demand amid the push for clean energy. It leverages advanced technologies in its mining operations.
8. BHP Group Limited (NYSE:BHP)
Number of hedge fund holders: 31
BHP Group Limited (NYSE:BHP) is one of the best copper stocks to buy according to hedge funds. On August 6, reports emerged indicating that the company, in partnership with Lundin, plans to apply for a new investment incentive scheme in Argentina.
The company is eyeing the incentive to support the development of the Vicuna copper project. The Large Investment Incentive Regime, which began last year, seeks to boost activities in the mining sector by offering tax breaks. The scheme also provides access to international dispute courts for investments exceeding $200 million.
In addition to the Argentinian push, BHP Group is fresh from reporting record copper and iron ore production for fiscal year 2025. The milestone came despite the company experiencing a delay and potential cost overrun at its Jansen potash project in Canada that reached $1.7 billion.
BHP Group Limited (NYSE:BHP) is a global resources company focused on producing a range of commodities essential for various industries and the global transition to a more sustainable future. They are a leading producer of iron ore, copper, and metallurgical coal, and are also involved in nickel, potash, and other minerals.
7. Southern Copper Corporation (NYSE:SCCO)
Number of hedge fund holders: 34
Southern Copper Corporation (NYSE:SCCO) is one of the best copper stocks to buy according to hedge funds. On July 30, the company reported mixed second-quarter 2025 results. While sales were down year-over-year, attributed to lower copper prices, the company posted a modest net income growth.
Net sales for the quarter decreased 2% to $3.05 billion, primarily due to lower copper prices. However, the company delivered a 2% increase in net income to $973 million, affirming a solid cost structure and improved operational efficiency.
Southern Copper achieved a 3% reduction in operating costs to $1.46 billion as cash cost per pound of copper fell 17% to $0.63. Copper production in the quarter was down 1% year-over-year to 238,980 tons. Molybdenum production increased by 4% to 7,919 tons, as zinc production rose 56% to 45,899 tons.
The company has also initiated an ambitious capital investment program designed to enhance production capacity. The board has already approved some projects expected to add 156,000 tons of copper production. The projects include the Tía María project in Peru, with a 120,000-ton copper capacity, and Michiquillay in Peru, with a 225,000-ton copper capacity.
Southern Copper Corporation (NYSE:SCCO) is a mining company focused on copper production. It also produces other metals like molybdenum, silver, and zinc. The company operates mines, smelting, and refining facilities, primarily in Peru and Mexico.
6. Rio Tinto Group (NYSE:RIO)
Number of hedge fund holders: 36
Rio Tinto Group (NYSE:RIO) is one of the best copper stocks to buy according to hedge funds. On August 7, announced commencement of work on the Norman Creek access at the Amrun bauxite mine in Queensland’s Cape York Peninsula.
Work has started on the project with the approval of a $180 million investment. The investment will enable the company to explore the 978 million tons of ore reserves in the Norman Creek region. First production is slated for 2027.
“Norman Creek is another important step in securing the long-term future of our Weipa operations,” said Armando Torres, Rio Tinto Pacific Operations Aluminium Managing Director.
Rio Tinto has also commenced early works and a final feasibility study on the Kangwinan project, which is expected to increase its annual bauxite production capacity.
Rio Tinto Group (NYSE:RIO) is a global mining and materials company that explores for, mines, and processes various mineral resources. It is heavily involved in the copper business by utilizing leading-edge technologies, including a new venture called Nuton, which focuses on sustainable bio-heap leaching for copper production.
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.
4. Barrick Mining Corporation (NYSE:B)
Number of hedge fund holders: 46
Barrick Mining Corporation (NYSE:B) is one of the top copper stocks to buy, according to hedge funds. On July 15, reports indicated that the company is in advanced talks to sell its last Canadian gold mine, the Hemlo mine, to Discovery Silver Corp.
The sale comes as the company seeks to capitalize on rising gold prices amid a significant shift in strategy in the precious metals sector. Barrick Gold’s offloading of the Hemlo mine also underscores a broader portfolio optimization approach that focuses on divesting non-core assets when valuations are favorable.
The company joins other industry players that are increasingly turning their attention to Tier 1 assets with lower operational costs and longer mine lives.
While Barrick Mining Corporation (NYSE:B) is best known for its gold exploration and mining activities, the company is increasingly divesting its portfolio to focus on copper production. The company is undergoing a rebranding effort, as evidenced by its focus on major copper projects in Pakistan and Zambia.
3. Teck Resources Limited (NYSE:TECK)
Number of hedge fund holders: 62
Teck Resources Limited (NYSE:TECK) is one of the top copper stocks to buy, according to hedge funds. On July 28, analysts at Benchmark reiterated a ‘Buy’ rating on the stock but cut their price target to $48 from $55.
The price target adjustment follows the company’s second-quarter results, whereby adjusted EBITDA came in at C$722 million, below consensus estimates of C$730 million. The earnings miss came as strong performance in the Zinc segment offset lower copper sales. Second-quarter revenue totaled C$2.0 billion, with an adjusted EBITDA of C$722 million.
During the quarter, the company faced operational challenges at its QB copper project as development work at the Tailings Management facility limited online time. Sales were also affected by trailed production due to a shipload outage, forcing Teck Resources to lower its full-year production for the QB project. Consequently, the company produced 109,100 tons of copper.
The Teck Resources board has approved the Highland Valley Copper Mine Life Extension, expected to produce an average of 132,000 metric tons of copper annually from 2028 to 2046 for C$2.1 billion to C$2.4 billion.
Teck Resources Limited (NYSE:TECK) is a Canadian mining company that explores, develops, and produces various minerals. It focuses on producing essential metals for global development and the energy transition, including copper and zinc.
2. Newmont Corporation (NYSE:NEM)
Number of hedge fund holders: 65
Newmont Corporation (NYSE:NEM) is one of the best copper stocks to buy according to hedge funds. On August 1, the company confirmed that Ghana has ratified the renewal of the Akyem East Mining lease. With the ratification, the company is entitled to $100 million from Zijin Mining Group.
The company is in the process of divesting its Akyem operation in Ghana to the Zijin Mining Group. With the additional $100 million payment, Newmont Corporation has received about $770 million. Consequently, it has updated its expected proceeds from the 2025 divestiture Program to $3.1 billion after tax.
Newmont plans to use net proceeds from the transactions to bolster its capital allocation priorities. Part of the funds is to go towards reducing outstanding debts. It also plans to return part of the capital to shareholders.
Newmont Corporation (NYSE:NEM) is a leading gold producer, but it also has significant copper reserves and production, making it a major player in the copper industry. The company’s copper operations are part of its broader portfolio of assets, which also includes gold, silver, and other metals.
1. Freeport-McMoRan Inc. (NYSE:FCX)
Number of hedge fund holders: 84
Freeport-McMoRan Inc. (NYSE:FCX) is one of the best copper stocks to buy according to hedge funds. On July 23, the company delivered solid second-quarter 2025 results and achieved a significant milestone with the startup of a new large-scale copper smelter in Indonesia. The company is on track to become America’s copper champion, with large-scale production of copper, gold, and molybdenum.
Revenues in the second quarter increased to $7.58 billion compared to $6.6 billion delivered in the same quarter last year. Net income increased to $772 million from $616 million a year ago, leading to earnings per share of $0.53, an improvement from $0.42 a share last year.
During the quarter, Freeport-McMoRan produced 963 million pounds of copper and 317,000 ounces of gold for the year 2025. The company is on course to sell 1.3 billion pounds of copper from its U.S. mining operations. It also continues to return value to shareholders with the repurchase of 1.5 million shares for a total cost of $52 million in Q2.
Freeport-McMoRan Inc. (NYSE:FCX) is the leading copper exploration and mining company in the US. It accounts for approximately 70% of total U.S. refined copper production through its integrated domestic mining and processing facilities. The company is currently expanding its domestic business.
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