In this article, we will discuss the 5 Best Silver and Copper Stocks to Buy for the EV Transition. For deeper discussion and analysis, read 9 Best Silver and Copper Stocks to Buy for the EV Transition.
5. Southern Copper Corporation (NYSE:SCCO)
Short % of Shares Outstanding: 1.43%
On May 21, UBS raised its price target on Southern Copper Corporation (NYSE:SCCO) to $145 from $140 while maintaining a Sell rating on the shares.
On May 15, Alfonso Salazar, analyst of Scotiabank, raised the firm’s price target on Southern Copper Corporation (NYSE:SCCO) to $135 from $133 while reiterating an Underperform rating on the stock. The firm noted that increased volatility and elevated metal prices could create attractive trading opportunities across the mining sector.
Southern Copper Corporation (NYSE:SCCO) was founded in 1952 and is headquartered in Phoenix. The company plays a key role in the global electric vehicle transition by supplying copper used in battery production, electric motors, and EV charging infrastructure.
Southern Copper remains strategically positioned to benefit from long-term demand growth for copper driven by electrification, renewable energy expansion, and electric vehicle adoption worldwide. Despite cautious analyst ratings, the continued increases in price targets reflect the market’s recognition of copper’s critical role in the global energy transition and Southern Copper’s importance as a major supplier within the industry.
4. Vale S.A. (NYSE:VALE)
Short % of Shares Outstanding: 1.17%
On May 22, JP Morgan raised its price target on Vale S.A. (NYSE:VALE) to $19.50 from $18.50 while maintaining an Overweight rating on the shares. The firm updated its financial model on the company, reflecting improving expectations for Vale’s operational and earnings outlook.
On May 15, Deutsche Bank raised its price target on Vale S.A. (NYSE:VALE) to $18 from $14.80 while reiterating a Hold rating on the stock, signaling growing confidence in the company’s performance amid improving commodity market conditions.
Vale S.A. (NYSE:VALE) was founded in 1942 and is headquartered in Rio de Janeiro. Vale produces iron ore and is a supplier of critical battery metals, including high-purity nickel and copper, which are essential for electric vehicle motors, lithium-ion battery packs, and broader clean energy infrastructure development.
Vale remains strategically positioned to benefit from rising long-term demand for critical minerals driven by the global electric vehicle and energy transition markets. The recent analyst price target increases reflect improving confidence in the company’s earnings potential, commodity exposure, and importance as a key supplier of battery and industrial metals worldwide.
3. Agnico Eagle Mines Limited (NYSE:AEM)
Short % of Shares Outstanding: 0.97%
On May 26, CIBC raised its price target on Agnico Eagle Mines Limited (NYSE:AEM) to $310 from $304 while maintaining an Outperformer rating on the shares. The firm cited the company’s favorable first-quarter results and additional exploration upside potential as key factors supporting the target increase.
On May 20, Agnico Eagle Mines Limited (NYSE:AEM) announced that it entered into a subscription agreement with Wallbridge Mining Company Limited to purchase approximately 243.9 million common shares at a price of C$0.092 per share for a total consideration of approximately C$22.4 million. Following completion of the transaction, Agnico Eagle is expected to increase its ownership stake in Wallbridge to nearly 20% on a partially diluted basis. The agreement also provides Agnico Eagle with participation rights in future equity financing and the ability to nominate a representative to Wallbridge’s board of directors, strengthening its strategic position and long-term exposure to exploration and development opportunities.
Agnico Eagle Mines Limited (NYSE:AEM) was founded in 1957 and is headquartered in Toronto. In addition to producing gold and silver, Agnico Eagle supports the electric vehicle transition through underground mining electrification initiatives, including the use of battery-electric mining equipment and the repurposing of used EV batteries for stationary energy storage applications.
2. Rio Tinto Group (NYSE:RIO)
Short % of Shares Outstanding: 0.72%
Rio Tinto Group (NYSE: RIO) attracted renewed analyst support on May 26 when JPMorgan analyst Dominic O’Kane raised the firm’s price target on the mining giant to 8,280 GBp from 7,200 GBp while maintaining a Neutral rating. The increase reflects a more constructive outlook on the company’s earnings potential and asset portfolio, particularly as demand for key industrial and energy-transition commodities remains resilient across global markets.
Earlier in the month, on May 15, Deutsche Bank analyst Liam Fitzpatrick also increased his price target on Rio Tinto to 6,900 GBp from 6,200 GBp while maintaining a Hold rating. This further highlights improving sentiment toward the company and underscores confidence in its ability to navigate commodity market fluctuations while benefiting from long-term structural demand trends. Although both firms retained relatively cautious ratings, the upward revisions suggest expectations for stronger value creation than previously anticipated.
Rio Tinto Group was founded in 1873 and is headquartered in London, United Kingdom. The company produces iron ore, copper, aluminum, lithium, and nickel. Many of these materials play a critical role in the global transition toward cleaner energy systems, electric vehicles, battery storage technologies, and modern infrastructure.
1. BHP Group Limited (NYSE:BHP)
Short % of Shares Outstanding: 0.61%
On May 15, Liam Fitzpatrick, analyst of Deutsche Bank, raised the firm’s price target on BHP Group Limited (NYSE:BHP) to 2,600 GBp from 2,400 GBp while maintaining a Hold rating on the shares.
On April 27, Argus Research raised its price target on BHP Group Limited (NYSE:BHP) to $95 from $90 and reiterated a Buy rating on the stock. The firm noted that BHP’s performance remains closely tied to trends in iron ore, copper, and coal markets, adding that commodity prices are strengthening amid rising global inflation. Argus also highlighted improving economic conditions in China and growing clean energy demand as supportive factors for the company’s long-term outlook.
BHP Group Limited (NYSE:BHP) was founded in 1885 and is headquartered in Melbourne. Operating within the global mining industry, BHP produces critical commodities, including copper, iron ore, and nickel. The company plays a significant role in the global electric vehicle transition through its supply of copper for EV motors and renewable energy grids, as well as nickel used in modern EV battery technologies.
BHP Group remains strategically positioned to benefit from rising global demand for critical minerals tied to electrification, infrastructure expansion, and clean energy adoption. The recent analyst price target increases, combined with improving commodity market conditions and stabilizing Chinese economic activity, reinforce confidence in the company’s long-term growth and earnings potential.
While we acknowledge the potential of BHP for the EV transition, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BHP and that has 100x upside potential, check out our report about this cheapest AI stock.
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