Copper prices, according to Bank of America, might reach $20,000 per metric ton in three years. The copper industry has taken a hit as the US prepares to raise interest rates, sending the dollar’s value soaring. In an effort to keep commodity prices under control, China has stated that it will release the metal from its national reserves. Copper is utilized in a variety of electrical items, including wires, motors, and mobile devices. Some of the companies at the forefront of copper production may be able to profit from the metal’s predicted long-term rise. To keep up with growing demand, Freeport-McMoRan Inc. CEO Richard Adkerson stated that the company was seeking approval for expansions at US-based copper mines. In February, Rio Tinto reported its highest yearly profit since 2011, because of higher metals prices, which boosted revenue. Newmont Corporation, the world’s largest gold mining company, has also benefited from the copper market in recent months. Bank of America named the company one of its top conviction selections for the second quarter.
Here is Insider Monkey’s list of the 10 best copper stocks to buy now. Barrick Gold Corporation is a gold and copper mining company that focuses on extraction and development. Over the last three months, the stock has provided investors with returns of more than 2.8 percent. It ranks tenth on the list of the top ten copper stocks to purchase right now. Teck Resources Limited is the ninth best copper stock to buy right now, according to the ranking. In the last few months, the stock has returned more than 102 percent to investors. It is one of the world’s largest copper producers, with mines in Canada and South America. Vale S.A. is a metal mining firm that focuses on iron ore, nickel, and other metal production. Over the last few months, the company’s stock has returned more than 109 percent to investors. It ranks eighth on the list of the top ten copper stocks to purchase right now. BHP Group is a natural resources company based in Australia that has holdings in petroleum, copper, iron, and coal. In 2020, it produced over 1.3 million tons of copper. Over the last year, the stock has returned more than 43 percent to investors. Turquoise Hill Resources Ltd. is the sixth best copper company to buy right now on the list of ten top copper stocks to purchase right now. Copper, gold, and silver operations are the company’s main focus. In the last year, its stock has returned more than 142 percent to investors. For more details, click 10 Best Copper Stocks to Buy Now.