Four Copper Miners Under $30 Set to Outperform

"Copper just punched through a historic ceiling, with LME prices breaching $6.00/lb for the first time and trading roughly 25% above the 2025 average. A structural supply deficit is forming as Grasberg and Kamoa-Kakula production downgrades collide with surging power grid upgrades and data center wiring demand. Analysts expect Resource Industries to be a standout performer in H2 as price increases are passed down to the hyperscalers, and several pure-play copper miners still trade below $30 a share."

"Taseko Mines (NYSE: TGB) is a Canadian copper miner operating the Gibraltar mine in British Columbia and the newly commissioned Florence Copper project in Arizona. Shares recently traded at $7.49, a level that gives retail investors entry to a producer riding record copper prices. The stock has surged 278.28% over the past year and 32.33% year to date. Q1 revenue jumped 70.39% to $237.09M, with adjusted EBITDA of $93.46M and Gibraltar copper output up 50% YoY to 30M lbs."

"The bull case is Florence ramping toward its 85M lb annual capacity with no hedged production, layered on top of Gibraltar guidance of 110 to 115M lbs. The risk: a $500M senior note maturity in 2030 and a 49.7% effective tax rate weigh on free cash flow conversion. Even so, Taseko's dual-mine ramp looks like one of the cleanest leveraged plays on the copper deficit."

"Hudbay Minerals (NYSE: HBM) operates copper assets across Peru, Manitoba and British Columbia, with a growth pipeline anchored by Copper World in Arizona. Shares trade at $25.02, up 228.64% over the past year and still below the $32.65 analyst target backed by six Strong Buy and 13 Buy ratings with zero Holds or Sells. Q1 was a record: revenue of $757.3M, up 27.3% YoY, adjusted EBITDA of $421.9M, and an industry-leading consolidated cash cost of negative $1.80/lb net of by-pr"

LME copper prices have broken above $6.00/lb for the first time and are about 25% above the 2025 average. A structural supply deficit is forming as production downgrades from Grasberg and Kamoa-Kakula coincide with increased demand from power grid upgrades and data center wiring. Several copper miners are positioned to benefit as higher prices flow through to end users. Taseko Mines trades around $7.49 and is supported by Gibraltar output growth and the ramp of the Florence Copper project toward large annual capacity, though debt maturities and taxes affect free cash flow. Hudbay Minerals trades around $25.02 and reported record Q1 results with strong revenue and EBITDA and low consolidated cash costs, supported by a growth pipeline including Copper World.

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