The best copper stocks in the market right now are gaining traction among investors as the demand for copper continues to rise due to the transition to electric vehicles and the electrification of various sectors. One of the top performers in the copper market is Lundin Mining (OTCBB: LUNMF), a diversified Canadian base metals mining company with operations worldwide.
Since mid-2020, the price of copper has been steadily increasing, hitting a new record high of $5.15 recently, with expectations of surpassing $6.00 in the near future. The surge in copper prices has significantly boosted the revenues of companies like Lundin Mining, which reported $937 million in Q1 2024 alone.
With the ongoing growth in the EV market and the electrification of sectors like transportation and residential areas, the demand for copper is expected to remain strong well into 2030. According to the IEA’s 2026 forecast report, emerging economies and the rise of energy-intensive sectors like data centers and cryptocurrencies will contribute to the higher electricity consumption, driving the need for more copper.
Apart from Lundin Mining, other promising copper stocks worth considering include Freeport-McMoRan Inc. (NYSE: FCX), BHP Group (NYSE: BHP), Ero Copper (NYSE: ERO), Metals Acquisition Limited (NYSE: MTAL), and Rio Tinto (NYSE: RIO).
Investors are advised to diversify their portfolios and allocate some exposure to copper stocks to capitalize on the ongoing surge in demand for the red metal. As the global economy continues to recover and industries transition towards cleaner energy sources, copper is expected to play a crucial role in powering the future.
