It’s not quite a gold rush, but copper will quietly rise about 27% in 2025. That’s not even close to the rise in gold or silver, but it’s still noticeable. The industrial metal is often referred to as the “Copper Doctor” because the price of copper often predicts the health of the global economy.
This is why copper has seen such volatile fluctuations over the past 20 years. In the 2000s, copper’s fortunes were largely tied to infrastructure in China. However, in 2025, this story will be told on American soil. Support for copper prices comes from:
- The artificial intelligence revolution and the need for data centers and electricity to run it
- The need to modernize the current electrical network in the country
- Continued demand for renewable energy solutions, including electric vehicles
This is just a partial list, and although the focus is largely on the United States, there is a global case for copper.
But there’s also the issue of supply. Chile and Peru are major sources of copper, but both countries have experienced supply disruptions. Furthermore, there are not enough significant new mining operations to keep up with expected demand.
For investors, rising demand combined with supply constraints is a bullish sign that could mean the sector is at the start of a supercycle that could push the spot price of copper to $6 or higher for an extended period. Here are three fundamental stocks that are well-positioned for such a bull run.
Freeport-McMoRan: A global leader facing short-term disruption
Freeport-McMoRan Today
Freeport-McMoRan
- 52 week range
- $27.66
▼
$50.28
- Dividend yield
- 0.73%
- P/E ratio
- 31.00
- Price target
- $46.56
Any discussion of copper stocks to buy should include Freeport-McMoRan Inc. New York Stock Exchange: FXX. The company is one of the largest publicly traded copper producers in the world and supplies approximately 70% of all domestically refined copper in the United States.
Although copper is the main source of mining revenue, Freeport-McMoRan also mines gold, increasing its appeal as demand for gold reaches record levels.
However, the company faced significant disruption to some of its key operations in 2025, prompting the company to trim its full-year production estimates.
FCX stock is up just 13% in 2025, but it still trades about 6% below the analyst consensus price. But if the recent upgrades accurately indicate a bullish case, the consensus price may be too low, suggesting the stock could be part of a catch-up trade.
Southern Copper: Strong gains, but a valuation reset may be on the horizon
South Copper today
As of 10/10/2025 at 03:59 PM ET
- 52 week range
- $74.84
▼
$136.49
- Dividend yield
- 2.56%
- P/E ratio
- 27.35
- Price target
- $109.88
Year-on-year growth so far is not a concern for Southern Copper Corporation New York Stock Exchange: SCOone of the other big miners in this area. However, the stock will rise 43% in 2025, and many analysts believe a major correction is overdue.
The bearish sentiment has more to do with logistics than copper fundamentals. With the current period, SCCO shares now trade at about 29 times earnings, which represents a significant premium to their historical average of about 16 times earnings.
The main problem is the company’s operational footprint, most of which is located in Peru and Mexico, two countries that raise significant regulatory concerns. The company’s production will be limited to these sites, which puts a cap on growth in the near term.
The consensus price target for SCCO stock is around $109 per share. That would be a roughly 15% decline from the stock’s October 9 closing price. However, an entry point into the stock would look more attractive at this price and at a lower valuation.
Global X Copper Miners ETF: A diversified play on the metals boom
Global X Copper Miners ETF today
Global X Copper Miners Corporation
As of 10/10/2025 at 04:10 PM ET
- 52 week range
- $30.77
▼
$66.20
- Dividend yield
- 1.29%
- Assets under management
- $3.36 billion
Many investors want exposure to mining and metals, but may not want to be stock pickers. This makes the Global NYSEARCA:COPX Attractive choice.
The name may be a bit misleading. As of October, only about 17% of the fund’s holdings were allocated to copper. This is likely to be a rotation as 54% of the fund’s holdings are in precious metals. This also explains why the COPX fund will rise more than 65% in 2025.
However, if copper follows the price of gold higher in the fall, the fund will have more work to do.
In addition to its exposure to copper, about 20% of the holdings are in diversified mining companies, such as Freeport-McMoRan and Southern Copper, two of the fund’s three largest holdings.
Before you consider the Global X Copper Miners ETF, you’ll want to hear this.
MarketBeat tracks the highest-rated and best-performing research analysts on Wall Street and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are whispering to its clients to buy now before the broader market joins in… and the Global X Copper Miners ETF was not on the list.
While the Global
View the five stocks here
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