The four major ASX copper stocks

Hi BT,

Copper has indeed been at the forefront of many articles over recent months, almost to the point where we believe the industrial metal is prime for a correction – remember it’s had a 25-30% in both 2024 and 2025. However, as global electrification accelerates across the world it would be a move MM would be advocating buying.

In terms of good entries into the below 4 stocks, after reading our tea leaves see below, note we are bullish into Christmas;

• BHP Group (ASX: BHP) – buy 50% below $61 leaving flexibility to add in the $56-57 region.
• RIO (ASX: RIO) – buy 50% below $160 leaving flexibility to add in the $145 region.
• Capstone Copper (ASX: CSC) – not our preferred stock, around $12.
• Sandfire Resources (ASX: SFR) – can be a volatile beast and as such we would say around $22 and leaving flexibility to add in the $19-20 region.

Capstone is probably the better takeover candidate, but Sandfire is the better business, but we see it as a consolidator and not a target. However, with copper near record highs we don’t see either on the menu at current levels.

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LME Copper (US$/MT)

LAST UPDATED 02/10/2026 10:27

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LME Copper (US$/MT)

LAST UPDATED 02/10/2026 10:27