The 6 Best Copper Stocks to Own Now

Jeff Siegel

Written By Jeff Siegel

Posted May 24, 2024

The best copper stocks in the market right now are the same ones I’ve been talking about for years. 

best copper stocks

If you’re a regular reader of these pages, you know I’ve been extremely bullish on copper since mid-2020.  Back when the red metal was trading for less than $2.50.  Here’s how copper has performed since then…

copper chart

I did get a bit of pushback when I first told investors to start loading up on copper.  Mostly as a result of the rapid growth of the EV market.  You see, EVs require a lot of copper.  To put it into perspective, the average vehicle with an internal combustion engine requires between 18 and 49 pounds of copper.  An electric car like the Tesla Model S requires about 165 pounds of copper, or about three times as much as an internal combustion vehicle. 

Also consider larger EVs, like electric buses.  Those require more than 800 pounds of copper.  

Copper demand as a result of our transition from internal combustion to vehicle electrification is significant.  But that’s not the only thing to consider.  

Check out this segment of the IEA’s 2026 forecast report, which was just released a couple months ago…

Strong growth in emerging economies combined with an anticipated recovery in industry and ongoing electrification of the residential and transportation sectors in many parts of the world will be the mainstays of increasing electricity over our outlook. An important new source of higher electricity consumption is coming from energy-intensive data centers, artificial intelligence (AI) and cryptocurrencies, which could double by 2026.

The IEA predicts that data centers’ total electricity consumption could reach more than 1,000 terawatt-hours in 2026.  To put that into perspective, that’s roughly the equivalent of total energy consumption in Japan. 

If the IEA’s predictions are sound, and I believe they are, the increased demand for copper should continue well into 2030.  Which is why I continue to be quite bullish on copper, and suggest you get some exposure to it now.

The Best Copper Stocks to Own Now

One of my favorite copper stocks for a while now has been Lundin Mining (OTCBB: LUNMF). I’ve actually written about it before, and continue to believe it’s one of the best copper stocks to own.

If you’re unfamiliar, Lundin Mining is a diversified Canadian base metals mining company with operations in Chile, Brazil, Portugal, Sweden, and the United States.  It mines zinc, lead, silver, gold, nickel, and, of course, copper.  This is where Lundin gets the lion’s share of its revenue. 

In Q1, 2024, Lundin did $937 million in revenues, based on a realized copper price of $3.98 a pound.  Worth noting: copper hit a new record high of $5.15 earlier this week, and we anticipate that price could exceed $6.00 by this time next year.  

As you can see, Lundin Mining has been absolutely crushing it over the past year..  


And I expect this to continue.

Of course, Lundin isn’t the only copper stock worth considering. Here are a few other copper stocks you should check out…

  • Freeport-McMoRan Inc. (NYSE: FCX)
  • BHP Group (NYSE: BHP)
  • Ero Copper (NYSE: ERO)
  • Metals Acquisition Limited (NYSE: MTAL)
  • Rio Tinto (NYSE: RIO)

There’s no doubt that you should absolutely have some exposure to copper right now.  The data is clear: there is no chance of a slowdown in global electricity demand.  And you can’t have electricity without copper.  Nothing is as affordable, conductive and thermal resistant as copper. So this is pretty much a no-brainer.

Another no-brainer right now is this new government stimulus stipends program

I told you about this a couple of weeks ago after learning that some folks have been using it to earn nearly $8,000 per quarter.

While I’ve never been shy to criticize government stimulus programs, I’ve also never been shy to turn away a quick buck.  And if the government is willing to hand over $8,000 per quarter, of course I’m going to take it.  You should, too.  So to help you get some of this action for yourself, I’m including a link to this report that shows you exactly how you can start claiming thousands of dollars in new government stimulus spending today.

To a new way of life and a new generation of wealth…

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Jeff Siegel

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Jeff is the founder and managing editor of Green Chip Stocks. For more on Jeff, go to his editor’s page.

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