5 Stocks to Keep an Eye on as Copper Prices Approach Record Highs
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 25 2025
0mins
Source: NASDAQ.COM
Copper Price Trends: Copper prices have risen above $5.00 per pound, driven by U.S. tariff concerns and China's economic stimulus, with a year-to-date gain of 27.9%. The long-term outlook remains positive due to strong demand from sectors like electric vehicles and renewable energy, despite supply constraints.
Investment Opportunities: Investors are encouraged to consider copper-mining companies such as BHP Group, Southern Copper, Freeport-McMoRan, Teck Resources, and Amerigo Resources, which are expected to benefit from the rising prices and have strong growth projections.
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Analyst Views on SCCO
Wall Street analysts forecast SCCO stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for SCCO is 127.95 USD with a low forecast of 90.00 USD and a high forecast of 152.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
0 Buy
5 Hold
5 Sell
Moderate Sell
Current: 207.930
Low
90.00
Averages
127.95
High
152.00
Current: 207.930
Low
90.00
Averages
127.95
High
152.00
About SCCO
Southern Copper Corporation is an integrated copper producer. The Company is engaged in the production of copper, molybdenum, silver, and zinc. The Company’s mining, smelting and refining facilities are located in Peru and Mexico and conducts exploration activities in those countries and in Argentina, Chile and Ecuador. Its segments include the Peruvian operations, Mexican open-pit operations and Mexican underground mining operations. Its Peruvian operations include the Toquepala and Cuajone mine complexes and smelting and refining plants, including a precious metals plant, industrial railroad and port facilities. Its Mexican open-pit operations include the La Caridad and Buenavista mine complexes and the smelting and refining plants, including a precious metals plant and a copper rod plant and support facilities that service both mines. Its Mexican underground mining operations include five underground mines that produce zinc, copper, lead, silver and gold, and a zinc refinery.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Southern Copper Shares Surge 12.8% Amid Copper Price Spike
- Copper Price Surge: Southern Copper's shares rose by 12.8% over the past week as copper prices briefly hit an all-time high of over $6.50 per pound on the London Metal Exchange, reflecting strong market demand and supply constraints.
- Market Deficit Forecast: Management estimates a market deficit of 320,000 tonnes by 2026, while the company's own copper production is expected to decline by 4.7% to 911,400 tonnes due to lower ore grades at its Peruvian operations, highlighting industry challenges.
- Demand Drivers: Ongoing demand from data centers for power cabling and copper wire continues to support rising copper prices, despite Southern Copper and Freeport-McMoRan facing difficulties in increasing production volumes, maintaining a positive market outlook.
- Inventory Levels: With copper inventories covering only 14 days of consumption and production recovery plans from Freeport and Southern Copper, the bullish sentiment for future copper prices is likely to benefit low-cost producers like Southern Copper.
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Copper Prices Hit Record High, Mining Stocks Surge
- Copper Price Surge: Spot copper prices reached an all-time high of $6.52 per pound, with three-month copper on the London Metal Exchange breaking above $14,000 per tonne for the first time, indicating strong industrial demand and the metal's critical role in electrification projects.
- Mining Stocks Rally: Shares of Southern Copper Corp. surged nearly 5% while Freeport-McMoRan Inc. gained over 2%, reflecting market optimism regarding the rising copper prices.
- Divergent Analyst Views: Despite the price rally, analyst Ole Hansen highlighted that the gap between futures and spot prices is at its widest, with stockpiles at multi-year highs, suggesting that actual demand may not justify current price levels.
- Bullish Market Sentiment: Retail sentiment for the Global X Copper Miners ETF remained in the 'extremely bullish' zone over the past 24 hours, with users predicting the ETF could climb to $100 by the end of February, showcasing strong investor confidence in the copper market.
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