The market for copper stocks is often underrated compared to other mining assets. Traditionally, investors look at gold stocks and silver stocks before other types of metals. This can be a mistake though, as many other materials are climbing in price. Copper is a perfect example of this and has seen significant growth in the last few years.
Now you may be wondering, what is the reason that copper stocks have experienced all of this success? Part of copper’s momentum is driven by the market for electric vehicles. EVs are growing rapidly in popularity every single year. With millions of them already on the road, this technology is shaping up to be the future of the automobile. Most major manufacturers already have some sort of plan for transitioning into the EV market. Production electric vehicles use hundreds of pounds of copper, much more than a traditional vehicle would use.
This means that the demand for the metal is much higher. Copper is used in a lot of other electronic devices and wiring as well. Currently, the metal is on track to become the new gold as the gap between supply and demand expands. Bank of America has predicted that the metal could reach $20,000 per metric ton in the next three years. Copper has an essential role in the economy, which is why the demand keeps growing for it. This metal will likely continue to grow in popularity as the world electric technology expands its reach, as it is needed for many related developments. Let’s take a look at 3 copper mining stocks that are performing well in the market.Top Copper Stocks To Watch
- Teck Resources Limited (NYSE: TECK)
- Hudbay Minerals Inc. (NYSE: HBM)
- Turquoise Hill Resources Ltd. (NYSE: TRQ)
Teck Resources Limited is a copper stock that focuses on research, exploration, development, and production of natural resources. The company runs in the Asia Pacific, the Americas, and Europe. Its different company sections are coal, copper, energy, and zinc. Overall, the company produces copper, zinc, gold, silver, and many more resources. It owns an interest in Frontier oil sands projects, and exploration and development projects. These many projects are located in Alberta, Australia, Chile, Ireland, Mexico, Peru, Turkey, and the United States.
On July 14th, Teck released its climate change outlook 2021 report. The company currently plans on being a carbon-neutral operator by 2050. The VP of Sustainability and External Affairs, Marcia Smith said, “Teck is taking significant steps to address climate change risks because we know all sectors, including mining, need to play an active role in contributing to solving the challenge of climate change. We are working to reduce the carbon footprint of our operations, while at the same time rebalancing our portfolio towards copper, which is an essential metal for low-carbon technology and infrastructure.” One year ago TECK was at about $11 per share, and it has now reached $20 per share on average as of July 20th. With this in mind, will you add TECK to your list of copper stocks to watch?Hudbay Minerals Inc. (NYSE: HBM)
Hudbay Minerals is a copper stock that is involved in the processes of discovery, production, and marketing. Hudbay produces various base and precious metals such as copper, gold, silver, molybdenum concentrates, and more. Its operations are based in both North and South America. It owns three polymetallic mines, a zinc production facility, copper projects in the United States, and more.
Unfortunately, Hudbay’s Lalor recently reported a fatality a few weeks ago. The company announced that the mine has now resumed activities on June 23rd. The next update from this copper stock is going to be released on Tuesday, August 10th, 2021. This is when Hudbay is hosting a conference call for its second quarter 2021 results. This will be an interesting report for investors, as it could provide some insight as to where the company is at right now.
On July 20th, HBM stock is up 4.68% in the market on average. One year ago, the company’s stock price was at $3.39 per share on average, and it is now at $6.26 per share as of July 20th. Noting this info, is HBM stock on your copper watchlist?Turquoise Hill Resources Ltd. (NYSE: TRQ)
Turquoise Hill Resources Ltd. is a copper stock that explores for various mineral resources around the world. These resources include copper, gold, and silver deposits. Its main property is the Oyu Tolgoi copper-gold mine in Mongolia. TRQ stock has had quite a lot of momentum in 2021, with many ups and downs in the market.[Read More] 3 Hot Mining Stocks To Watch This Week
On July 15th, Turquoise Hill provided its second quarter 2021 production numbers and an update on its Oyu Tolgoi mine. The company stated, “In Q2 2021, open-pit mining activities were impacted by personnel shortages due to COVID-19 restrictions. This resulted in an increase of lower-grade stockpile material being processed during the quarter.”
Turquoise Hill also has a partnership with Rio Tinto Group (NYSE: RIO) to engage with various Mongolian governmental bodies with a view to resolve outstanding non-technical undercut issues. TRQ stock has seen a lot of momentum in the market recently. On July 20th, TRQ stock is up 2.33% in the market. Will this copper stock enter your watchlist for July 2021?Best Copper Stocks To Buy Right Now?
Choosing the best copper stocks to buy can often be a difficult feat. With so many companies to choose from, the process can become confusing. That is why looking at recent company news and financials is a great step to take when investing in the stock market. Looking at news from the sector is important well, as things like increased demand and shortages. World news often has an impact on copper as well, i.e. the pandemic. So which copper stocks will make your watchlist this year?