10 Best Copper Stocks to Buy According to Wall Street Analysts

8. Rio Tinto (NYSE:RIO)

Market Cap: $105.06 billion

Average Upside Potential: 14%

Number of Hedge Fund Holders: 40

Rio Tinto’s copper growth is coming from Mongolia. Copper production at Oyu Tolgoi rose 27% from a year earlier in the third quarter and ran at an annualized rate of about 450,000 tonnes, according to the company’s quarterly production report. Chief Executive Simon Trott said, “We delivered strong operational performance in the third quarter.”

Elsewhere in the copper business, the rebuild of the flash converting furnace at Kennecott finished at the end of August, ahead of plan. A furnace like that turns concentrate into copper metal, so its return to service lets the mine’s output reach customers without a bottleneck. Consolidated copper output was 205,000 tonnes in the quarter, and the company left its 2026 guidance of 800,000 to 870,000 tonnes unchanged, which signals that management sees the year landing where it planned.

The group’s aluminum side has a deal of its own, covered in our look at the Aurukun bauxite agreement. Together, the two businesses give Rio Tinto exposure to the metals that electrification demands, with copper leading the way as the mines in Mongolia and Utah ramp up and return to normal operation.

7. Teck Resources (NYSE:TECK)

Market Cap: $29.69 billion

Average Upside Potential: 17%

Number of Hedge Fund Holders: 52

Teck Resources’ third quarter shows what a copper-focused miner earns at record prices. Adjusted profit reached C$923 million, up from C$372 million a year earlier, as copper production rose 11% to 115,700 tonnes. The company also lowered its 2026 copper net cash unit cost guidance, which means each pound it sells leaves more margin behind.

The larger story is the planned merger with Anglo American, which is on track to close within the 12 to 18 months the companies first set out, pending approvals. The combination is expected to deliver about US$800 million in annual pre-tax synergies. President and Chief Executive Officer Jonathan Price said the quarter lays “the strong foundation” for the merger.

Operations are moving in the same direction. Output at Highland Valley Copper is expected near the high end of its range. At Quebrada Blanca in Chile, 2026 copper guidance is unchanged, and installation of the permanent tailings pipeline began in October, with completion expected in the first quarter of 2027. A steadier Quebrada Blanca matters because the mine is the company’s newest large copper source and the one that determines how much the combined company can lean on growth.

6. Freeport-McMoRan (NYSE:FCX)

Market Cap: $85.33 billion

Average Upside Potential: 35%

Number of Hedge Fund Holders: 92

Freeport-McMoRan sold copper for an average of $6.54 a pound in the third quarter and earned net income of $1.2 billion on it. The company has also laid out when its Grasberg mine in Indonesia returns to full strength: mill throughput ran at 67% of capacity in the quarter, with 80% expected by mid-2027 and nearly full capacity by the end of 2027.

We recently looked at whether Freeport’s copper tightness can outrun rising costs. The company’s next growth step is in Arizona, where an investment decision on a Bagdad expansion is expected in the fourth quarter. The project would add copper at a U.S. mine and take three to four years to complete, so any decision would shape supply later in the decade.

Chief Executive Officer Kathleen Quirk said Freeport is “strongly positioned as America’s Copper Champion® and as a global copper leader.” Leaching is the other lever: the company targets 300 million pounds a year of copper from leaching initiatives in 2027, up from about 220 million pounds today, which adds metal from existing stockpiles without a new mine.

5. Ero Copper (NYSE:ERO)

Market Cap: $3.01 billion

Average Upside Potential: 38%

Number of Hedge Fund Holders: 27

Ero Copper called its third quarter a record, and the cash flow shows why. Revenue reached $348.0 million, up from $177.1 million a year earlier, and the company used the extra cash to pay down debt instead of stretching its balance sheet.

Net debt leverage dropped to 0.5 times from 1.2 times at the end of last year, a sign that the business now carries far less borrowing relative to its earnings. President and Chief Executive Officer Makko DeFilippo called deleveraging “one of the core commitments we have made to our shareholders.” A lighter balance sheet gives the company more room to fund growth without leaning on lenders.

The growth story sits in Brazil. The Tucumã mine produced 8,958 tonnes of copper in the quarter, and modular tailings filters are due to be installed and commissioned in the fourth quarter. At the Furnas project, a 45,000-meter drill program finished more than two years ahead of schedule, and a pre-feasibility study is expected in 2027. That study is the step that would show whether Furnas can become the company’s next major source of copper.