Investing in copper stocks can be a smart move in today’s market. The metal has a wide range of uses from wiring to plumbing, and its price has been on the rise over the past few years. As one of the more important industrial metals, it has become more attractive to investors looking for stocks with value.
In the article, we are taking a close look at some of the top Canadian copper stocks on the Toronto Stock Exchange (TSX) in 2023. We will be looking at companies with strong fundamentals and good performance, and what investors should keep in mind before making their investments.
1. Equinox Gold Corp. (TSX: EQX): This small-cap mining exploration and development company focuses on gold, copper, silver and other metals in the Americas and Africa. Currently, Equinox has seven active mineral properties with copper found in Argentina, Brazil and the Democratic Republic of Congo. Last year was a banner year for the company in terms of revenue, and this momentum has continued into 2023.
2. Lundin Mining Corporation (TSX:LMC): Lundin is a mid-cap mining company with a global presence, focusing primarily on copper, zinc and nickel. The company has copper operations in Sweden, Portugal, Spain, Chile and the Democratic Republic of Congo. Lundin is a reliable player in the copper industry and has managed to outperform its peers in both the short and long term.
3. First Quantum Minerals Ltd. (TSX:FM): First Quantum Minerals is a mid-cap copper producer with operations in several countries including Zambia, the Democratic Republic of Congo and Panama. CT has strong resources in copper, gold, nickel and zinc. The company has been able to consistently meet production targets and has been able to post impressive financial results year after year.
4. Teck Resources Ltd. (TSX: TECK.A): Teck is a large-cap diversified resource company with operations in both Canada and the US. The company is involved in copper, iron ore, zinc and diesel, but copper remains its biggest contributor. Teck is currently diversifying its operations and has plans to increase its copper output in the next few years. The company is listed on the TSX and the NYSE.
5. Nova Gold Resources Inc. (TSX: NGX): Nova Gold is a small-cap gold and copper producer with operations in Canada and the US. The company has a strong focus on exploring and developing gold and copper resources. Nova Gold is a relatively new addition to the copper sector, but its assets in both countries could easily increase the value of its stock in the near future.
Each of these companies has its own strengths and weaknesses, and investors should be aware of this before investing in any of them. Copper is subject to heavy market volatility, so investors should be mindful of this and diversify their portfolios accordingly. The above-mentioned stocks are all attractive options for investors looking to gain exposure to copper and its related sectors.