5 Best Copper Stocks to Buy

In this article, we discuss the 5 best copper stocks to buy. If you want to read about some more copper stocks, go directly to 10 Best Copper Stocks to Buy.

5. Rio Tinto Group (NYSE:RIO)

Number of Hedge Fund Holders: 33

Rio Tinto Group (NYSE:RIO) is the second largest metals and mining corporation in the world with interests in copper, aluminum, gold, silver, and other metals. In March, the firm announced that it had commenced copper extraction from the underground section of a massive mine in Mongolia. The project had faced years of delays, cost overruns, and disputes with the Mongolian government. 

On May 26, Morgan Stanley analyst Alain Gabriel upgraded Rio Tinto Group (NYSE:RIO) stock to Overweight from Equal Weight with a price target of 5,800 GBP. noting that demand concerns and falling iron ore prices have derated Rio shares, presenting an opportunity to gain exposure to a business with high-quality assets, a growing copper footprint, improving operating performance and best-in-class capital return prospects. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Encompass Capital Advisors is a leading shareholder in Rio Tinto Group (NYSE:RIO) with 1.9 million shares worth more than $132 million.