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Copper Investing
Top 5 ASX Copper Stocks (Updated April 2022)
Aug. 23, 2022 01:50PM PST
Copper hit a record high earlier this year, and some companies continue to ride that wave. Here are the best copper stocks on the ASX so far in 2022.
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Copper hit a record high earlier this year, and experts have positive expectations for the market.
As the world began to open up again at the end of 2021, the price of the base metal jumped to over US$10,700 per tonne due to higher demand. Although prices have pulled back since then, tight supply and higher consumption from sectors like the electric vehicle industry have created a strong outlook for the red metal.
Below the Investing News Network looks at the best ASX copper stocks of 2022 by year-to-date share price performance. The following list was generated on April 29, 2022, using TradingView’s stock screener, and all copper stocks listed had market caps above AU$10 million at that time.
1. Alara Resources
Year-to-date gain: 154.17 percent; market cap: AU$36.68 million; current share price: AU$0.06
Alara Resources (ASX:AUQ) is an Australia-based precious and base metals explorer and developer. The company has projects in the Middle East, including the Al Washi-hi Majaza copper-gold project in Oman and the Khnaiguiyah zinc-copper project in Saudi Arabia. The company’s goal is to become a mid-tier minerals producer developing its value and growth through its low-cost assets and sustainability initiatives.
Alara’s joint copper-gold venture in Oman is continuing to make good progress, including having its first blast conducted, in addition to the commencement of pre-production activities. The company’s copper-gold mining facility is projected to be completed (on schedule and within budget) by the third quarter.
2. Bougainville Copper
Year-to-date gain: 27.87 percent; market cap: AU$156.41 million; current share price: AU$0.39
Bougainville Copper (ASX:BOC) states that its main goal is to work with communities in Papua New Guinea and the country's government to resume copper, gold and silver mining and exploration at the Panguna mine.
Panguna has been inactive since 1989, and while it was important to the nation's economy, it has also been a source of controversy. The company hasn't released any news about its projects so far in 2022.
3. Cannindah Resources
Year-to-date gain: 58.82 percent; market cap: AU$149.45 million; current share price: AU$0.27
With a focus on copper and gold, Cannindah Resources (ASX:CAE) is reviewing strategies for its New South Wales-based Mount Cannindah project, which holds a large porphyry-style copper-molybdenum-gold mineralized system. The company is also looking to move forward with exploration at its Piccadilly gold project in Queensland.
In late January, Cannindah Resources shared results from a vertical hole drilled in the northern part of Mount Cannindah. Results include 81 metres at 0.3 percent copper, 0.6 grams per tonne gold and 22.5 grams per tonne silver. In a report from mid-April, Cannindah Resources shared that its new mining leases for the Mount Cannindah project had been renewed until 2034.
4. Recharge Metals
Year-to-date gain: 54.05 percent; market cap: AU$6.75 million; current share price: AU$0.29
Recharge Metals (ASX:REC) is an Australian copper producer and explorer based in Australia. The company fully owns all three of its homegrown development projects — Brandy Hill South, Tampia East and Bohemia — all of which are located in Western Australia. Drilling recently began at the Brandy Hill South project, and exploration is continuing at the company’s two other projects.
In mid-May, a third diamond hole at Brandy Hill South showed encouraging copper sulphide mineralization.
5. BHP
Year-to-date gain: 13.28 percent; market cap: AU$230.6 billion; current share price: AU$47.01
BHP (ASX:BHP), formerly known as BHP Billiton, is an international mining company based out of Australia. The company is known for its mining and production of commodities such copper, potash, coal, iron ore and nickel. BHP operates five mines worldwide with some in South America, the US and Australia.
In mid-May, CEO Mike Henry led the opening of a brand-new copper plant that is expected to strengthen the company's copper portfolio in Chile. BHP is hoping that this plant will help to contribute to future global supply.
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Securities Disclosure: I, Marlee John, currently hold no direct investment interest in any company mentioned in this article.
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