Commodities have enjoyed a boom in late 2020 and early 2021 on the back of a global economy recovery. Sentiment has improved as vaccine production ramps up. Copper prices hit a 10-year high in the final week of February. High demand from power and construction industries have fueled its rise. Today, I want to look at three copper-linked stocks that are worth snatching up.
Capstone Mining (TSX:CS) is a Vancouver-based copper-focused miner. Its shares have climbed 50% in 2021 as of mid-afternoon trading on February 26. The stock has soared 500% year over year. Its 2020 production surpassed its original guidance for the year. Capstone produced 156.9 million pounds of copper for the full year. The company is projecting between 175 million to 190 million pounds of copper in 2021.
Copper Mountain Mining (TSX:CMMC) is another top copper miner to zero-in on today. Shares of the Vancouver-based miner have climbed 68% so far this year. The stock is up over 470% from the prior year. In Q4 2020, the company achieved record quarterly production of 29.1 million pounds of copper equivalent. Meanwhile, its full year 2020 production exceeded its guidance at 77.6 million pounds.
Taseko Mines (TSX:TKO)(NYSE:TGB) is the third copper stock investors should target today. This Vancouver-based miner acquires, develops, and operates mineral properties. Shares of Taseko have climbed 23% in 2021. The stock is up over 300% from the prior year. Revenues rose to $343 million compared to $329 million in 2019. Adjusted EBITDA surged to $108 million – up from $51 million in the previous year.
