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Canadian (TSX) Copper Industry Analysis

UpdatedDec 25, 2025
DataAggregated Company Financials
Companies41
  • 7D6.8%
  • 3M36.5%
  • 1Y106.0%
  • YTDn/a

In the last week, the Copper industry is up 7.6%, with First Quantum Minerals up 7.6%. Meanwhile, Lion Copper and Gold actually underperformed within the industry, shrinking 28% in the last week. This means that the industry has gained 108% over the past year. As for the next few years, earnings are expected to grow by 36% per annum.

Industry Valuation and Performance

Has the Canadian Copper Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Dec 2025CA$80.5bCA$17.0bCA$890.3m22.6x90.4x4.7x
Sat, 22 Nov 2025CA$63.3bCA$17.4bCA$928.2m19.1x68.2x3.6x
Mon, 20 Oct 2025CA$62.9bCA$16.7bCA$784.4m80x80.2x3.8x
Wed, 17 Sep 2025CA$52.8bCA$16.4bCA$770.0m68.6x68.6x3.2x
Fri, 15 Aug 2025CA$47.7bCA$16.5bCA$762.4m63.5x62.6x2.9x
Sun, 13 Jul 2025CA$44.6bCA$16.0bCA$407.1m66.3x109.5x2.8x
Tue, 10 Jun 2025CA$42.6bCA$16.0bCA$407.4m67.7x104.6x2.7x
Thu, 08 May 2025CA$36.5bCA$15.9bCA$219.3m59.5x166.6x2.3x
Sat, 05 Apr 2025CA$33.9bCA$15.8b-CA$17,602,238.9837x-1926.7x2.2x
Mon, 03 Mar 2025CA$35.9bCA$15.9bCA$72.4m61.2x495.7x2.3x
Wed, 29 Jan 2025CA$36.5bCA$16.7b-CA$1,812,989,403.7225.6x-20.1x2.2x
Fri, 27 Dec 2024CA$36.9bCA$16.7b-CA$1,808,089,976.2924.3x-20.4x2.2x
Sun, 24 Nov 2024CA$39.7bCA$16.3b-CA$1,756,071,499.8733.5x-22.6x2.4x
Tue, 22 Oct 2024CA$40.0bCA$16.8b-CA$1,737,329,366.8741.2x-23x2.4x
Thu, 19 Sep 2024CA$36.8bCA$16.6b-CA$1,707,511,619.2630x-21.5x2.2x
Sat, 17 Aug 2024CA$36.6bCA$16.6b-CA$1,744,689,005.0742.6x-21x2.2x
Mon, 15 Jul 2024CA$42.1bCA$16.3b-CA$1,663,372,990.5638.3x-25.3x2.6x
Wed, 12 Jun 2024CA$38.8bCA$16.4b-CA$1,677,748,272.3433.9x-23.1x2.4x
Fri, 10 May 2024CA$40.8bCA$16.4b-CA$1,681,175,801.4036.5x-24.3x2.5x
Sun, 07 Apr 2024CA$37.2bCA$16.7b-CA$1,124,242,191.7317.2x-33.1x2.2x
Tue, 05 Mar 2024CA$29.6bCA$16.6b-CA$1,218,128,357.0824.6x-24.3x1.8x
Thu, 01 Feb 2024CA$27.0bCA$17.2bCA$983.0m19.3x27.4x1.6x
Sat, 30 Dec 2023CA$25.4bCA$17.0bCA$967.6m19.2x26.3x1.5x
Mon, 27 Nov 2023CA$24.5bCA$17.5bCA$996.0m15.9x24.6x1.4x
Wed, 25 Oct 2023CA$34.3bCA$16.5bCA$841.9m15.2x40.8x2.1x
Fri, 22 Sep 2023CA$38.8bCA$16.3bCA$826.5m18.6x46.9x2.4x
Sun, 20 Aug 2023CA$39.6bCA$16.4bCA$817.1m23.1x48.5x2.4x
Tue, 18 Jul 2023CA$42.3bCA$16.3bCA$692.8m27.9x61x2.6x
Thu, 15 Jun 2023CA$38.9bCA$16.4bCA$702.5m26.3x55.4x2.4x
Sat, 13 May 2023CA$38.7bCA$16.7bCA$701.0m24x55.2x2.3x
Mon, 10 Apr 2023CA$38.0bCA$17.6bCA$1.5b15.5x24.5x2.2x
Wed, 08 Mar 2023CA$36.5bCA$18.0bCA$1.7b11.3x21.4x2x
Fri, 03 Feb 2023CA$36.2bCA$17.8bCA$2.0b11x17.8x2x
Sun, 01 Jan 2023CA$34.3bCA$18.1bCA$2.1b9.3x16.6x1.9x
Price to Earnings Ratio

16.6x


Total Market Cap: CA$34.3bTotal Earnings: CA$2.1bTotal Revenue: CA$18.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Copper Industry Price to Earnings3Y Average -63.9x202320242025
Current Industry PE
  • Investors are optimistic on the Canadian Copper industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 88.9x which is higher than its 3-year average PE of -64.0x.
  • The 3-year average PS ratio of 2.4x is lower than the industry's current PS ratio of 4.7x.
Past Earnings Growth
  • The earnings for companies in the Copper industry have declined 24% per year over the last three years,
  • Revenues have also declined 2.1% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Comparison

How does Canadian Copper compare with similar industries?

CA Market2.21%
Materials4.87%
Metals and Mining5.34%
Copper6.83%
Precious Metals and Minerals10.35%
Diversified Metals and Mining8.18%
Gold4.70%
Steel2.86%
Silver1.58%
Aluminum0%0
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
FM First Quantum MineralsCA$36.427.6%
+CA$2.1b		91.7%PE479.5x
LUN Lundin MiningCA$29.184.3%
+CA$1.0b		135.1%PE86.1x
CS Capstone CopperCA$13.666.1%
+CA$595.6m		51.8%PE24.5x
ERO Ero CopperCA$37.609.1%
+CA$327.3m		93.5%PE20.7x
III Imperial MetalsCA$9.6116.6%
+CA$244.0m		439.9%PE9.3x

Latest News

CS
CA$13.66
Capstone Copper
7D
6.1%
1Y
51.8%

CS: Higher Precious Metal Prices Will Drive Future Share Outperformance

The analyst price target for Capstone Copper has edged higher to approximately C$15.42 from C$15.08, as analysts factor in stronger expected revenue growth, modestly higher margins and sector wide target increases following multiple upward revisions from the Street, despite at least one recent downgrade. Analyst Commentary Bullish analysts highlight that the recent wave of target hikes materially lifts the implied upside for Capstone Copper, with several price objectives now sitting in the mid teens to high teens in Canadian dollars.
III
CA$9.61
Imperial Metals
7D
16.6%
1Y
439.9%
LUN
CA$29.18
Lundin Mining
7D
4.3%
1Y
135.1%

LUN: Future Returns Will Weigh Metal Price Cycles Against Legal Overhang Risks

The analyst price target for Lundin Mining has been raised from approximately $24.55 to about $27.52, as analysts factor in stronger expected revenue growth and improved profit margins despite a mixed macro backdrop for metals and mining. Analyst Commentary Analyst sentiment toward Lundin Mining remains broadly constructive, with a series of recent target price revisions reflecting both stronger company specific fundamentals and a still challenging macro backdrop for metals.
FMT
CA$5.55
Fuerte Metals
7D
15.6%
1Y
560.7%
QQQ
CA$0.12
Questcorp Mining
7D
-8.0%
1Y
155.6%
USCU
CA$0.13
US Copper
7D
-3.7%
1Y
271.4%
TKO
CA$7.73
Taseko Mines
7D
8.3%
1Y
172.2%

TKO Risks Future Earnings Sustainability Despite Rising Media Rights Optimism

Analysts have raised their fair value estimate for Taseko Mines to $6.50 from $3.68, reflecting higher expected revenue growth that more than offsets a slightly higher discount rate and modestly lower projected margins and valuation multiples. Analyst Commentary While the higher fair value estimate signals a more constructive medium term outlook for Taseko Mines, recent Street commentary for comparable cyclical and resource exposed names underscores where risks may still reside for the stock.
ERO
CA$37.60
Ero Copper
7D
9.1%
1Y
93.5%

ERO: Gold Windfall And Critical Mineral Status Will Shape Balanced Outlook

We increase our fair value estimate for Ero Copper to approximately $37.43 per share from $35.80, reflecting analysts' higher price targets following upgraded ratings, improved long term revenue growth and margin expectations, and incremental upside from the recently identified gold windfall. Analyst Commentary Recent Street research reflects a more constructive stance on Ero Copper overall, but with a clear split between optimistic and cautious voices as the market digests the impact of stronger commodity price forecasts, the gold windfall, and project execution risks.
MARI
CA$11.06
Marimaca Copper
7D
-1.1%
1Y
125.7%
ASCU
CA$5.08
Arizona Sonoran Copper
7D
18.1%
1Y
268.1%
FM
CA$36.42
First Quantum Minerals
7D
7.6%
1Y
91.7%
CLUS
CA$0.065
Colossus Resources
7D
-40.9%
1Y
-48.0%
WEC
CA$0.01
Winchester Equity
7D
-33.3%
1Y
0%
AVE
CA$0.26
Aventis Energy
7D
-1.9%
1Y
70.0%
LEO
CA$0.20
Lion Copper and Gold
7D
-13.0%
1Y
185.7%