5 Best Copper Stocks to Buy Now

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In this article, we discuss the 5 best copper stocks to buy now. If you want to read a detailed analysis of the copper market and its recent trends, go directly to the 10 Best Copper Stocks to Buy Now.

5. BHP Group Limited (NYSE:BHP)

Number of Hedge Fund Holders: 19

BHP Group Limited (NYSE:BHP) is an Australian mining company with a diverse portfolio. The company produces iron ore, copper, aluminum, uranium, nickel, metallurgic coal, thermal coal, zinc, manganese, gold, and diamonds. As of November 3, BHP Group Limited (NYSE:BHP) has a dividend yield of 14.03% with an annualized dividend payout of $21.

BHP Group Limited (NYSE:BHP) is one of the best copper stocks with a strong balance sheet. In the June quarter, the company was able to bring about a steep decline in debt from its previous $4.1 billion down to $300 million. BHP Group Limited (NYSE:BHP) also has some significant money-generating capabilities as it generated $26.3 billion in free cash flow in FY2022. Furthermore, the company exited the June quarter with a net cash position of approximately $800 million.

In early August, CLSA analyst Robert Stein downgraded BHP Group Limited (NYSE:BHP) from Buy to Outperform with a A$42.50 price target. Stein’s downgrade is owed to the recent strength in the company shares.

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