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Canadian (TSX) Copper Industry Analysis

UpdatedMar 31, 2026
DataAggregated Company Financials
Companies41
  • 7D-0.4%
  • 3M-7.9%
  • 1Y97.9%
  • YTDn/a

The Copper industry is up 7.3% in the last week, with First Quantum Minerals up 1.0%. This means that the industry has gained 96% over the past year. Looking forward, earnings are forecast to grow by 20% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 31 Mar 2026CA$76.4bCA$18.7bCA$2.1b9.1x35.6x4.1x
Thu, 26 Feb 2026CA$101.3bCA$17.7bCA$1.9b25.6x52.1x5.7x
Sat, 24 Jan 2026CA$88.1bCA$17.0bCA$897.3m26.2x98.2x5.2x
Mon, 22 Dec 2025CA$77.6bCA$17.1bCA$905.4m21.6x85.7x4.5x
Wed, 19 Nov 2025CA$66.6bCA$17.3bCA$921.7m19.7x72.3x3.8x
Fri, 17 Oct 2025CA$67.1bCA$16.8bCA$786.6m82.5x85.3x4x
Sun, 14 Sep 2025CA$52.1bCA$16.5bCA$775.2m66.4x67.2x3.2x
Tue, 12 Aug 2025CA$47.4bCA$16.5bCA$764.1m62.6x62.1x2.9x
Thu, 10 Jul 2025CA$46.2bCA$16.0bCA$407.1m66.9x113.4x2.9x
Sat, 07 Jun 2025CA$42.4bCA$16.0bCA$407.6m67.4x104x2.6x
Mon, 05 May 2025CA$35.7bCA$15.8bCA$113.5m45.4x314.5x2.3x
Wed, 02 Apr 2025CA$37.0bCA$15.8b-CA$3,595,712.3348.8x-10283.2x2.3x
Fri, 28 Feb 2025CA$36.6bCA$15.9bCA$49.8m72.8x734.1x2.3x
Sun, 26 Jan 2025CA$37.8bCA$16.7b-CA$1,806,726,982.1727.3x-20.9x2.3x
Tue, 24 Dec 2024CA$36.7bCA$16.7b-CA$1,802,888,583.0024.5x-20.3x2.2x
Thu, 21 Nov 2024CA$39.2bCA$16.3b-CA$1,756,066,312.4234x-22.3x2.4x
Sat, 19 Oct 2024CA$38.9bCA$16.8b-CA$1,733,833,126.1842.7x-22.4x2.3x
Mon, 16 Sep 2024CA$36.0bCA$16.5b-CA$1,706,065,791.6431x-21.1x2.2x
Wed, 14 Aug 2024CA$34.7bCA$16.7b-CA$1,749,631,369.3341.6x-19.9x2.1x
Fri, 12 Jul 2024CA$41.3bCA$16.3b-CA$1,663,532,069.6936.8x-24.8x2.5x
Sun, 09 Jun 2024CA$38.2bCA$16.5b-CA$1,669,959,874.1132.9x-22.9x2.3x
Tue, 07 May 2024CA$41.2bCA$16.3b-CA$1,635,840,444.1323.5x-25.2x2.5x
Thu, 04 Apr 2024CA$35.4bCA$16.6b-CA$1,119,529,705.8517.3x-31.7x2.1x
Sat, 02 Mar 2024CA$28.6bCA$16.6b-CA$1,207,982,283.1224.4x-23.7x1.7x
Mon, 29 Jan 2024CA$26.9bCA$17.2bCA$983.5m19.1x27.3x1.6x
Wed, 27 Dec 2023CA$25.7bCA$17.0bCA$968.1m19.2x26.5x1.5x
Fri, 24 Nov 2023CA$24.8bCA$17.5bCA$1.0b15.9x24.7x1.4x
Sun, 22 Oct 2023CA$34.9bCA$16.5bCA$843.1m15.3x41.3x2.1x
Tue, 19 Sep 2023CA$41.6bCA$16.3bCA$827.0m19.8x50.3x2.6x
Thu, 17 Aug 2023CA$40.1bCA$16.4bCA$811.2m23x49.4x2.5x
Sat, 15 Jul 2023CA$42.3bCA$16.3bCA$695.2m28x60.8x2.6x
Mon, 12 Jun 2023CA$37.1bCA$16.5bCA$703.4m24.1x52.7x2.3x
Wed, 10 May 2023CA$42.8bCA$16.5bCA$722.3m26.7x59.2x2.6x
Fri, 07 Apr 2023CA$38.0bCA$17.6bCA$1.5b15.5x24.6x2.2x
Price to Earnings Ratio

24.6x


Total Market Cap: CA$38.0bTotal Earnings: CA$1.5bTotal Revenue: CA$17.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Copper Industry Price to Earnings3Y Average -58.7x202420252026
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 35.6x which is higher than its 3-year average PE of -58.7x.
  • The 3-year average PS ratio of 2.7x is lower than the industry's current PS ratio of 4.1x.
Past Earnings Growth
  • The earnings for companies in the Copper industry have grown 12% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Comparison

How does Canadian Copper compare with similar industries?

CA Market0.38%
Materials2.96%
Metals and Mining2.81%
Copper-0.39%
Silver4.41%
Gold4.09%
Precious Metals and Minerals0.22%
Aluminum0%0
Diversified Metals and Mining-0.76%
Steel-5.63%
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$31.051.0%
+CA$248.5m		60.5%PS3.5x
FMT Fuerte MetalsCA$10.0011.9%
+CA$151.7m		1,182.1%PB183.4x
ERO Ero CopperCA$34.712.1%
+CA$76.1m		99.1%PE9.9x
FDY Faraday CopperCA$3.74-0.3%
CA$43.4m		356.1%PB18.7x
KRY Koryx CopperCA$3.0912.8%
+CA$42.3m		175.9%PB22.1x

Latest News

OCO
CA$0.36
Oroco Resource
7D
-8.9%
1Y
-21.7%
KRY
CA$3.09
Koryx Copper
7D
12.8%
1Y
175.9%
FM
CA$31.05
First Quantum Minerals
7D
1.0%
1Y
60.5%
ERO
CA$34.71
Ero Copper
7D
2.1%
1Y
99.1%

ERO: Copper Upswing And Furnas Development Will Drive Future Upside Potential

Analysts have lifted the CA$ fair value estimate for Ero Copper to CA$47.09, supported by higher Street price targets such as CA$50 at Scotiabank and CA$52 at Canaccord, along with slightly higher modeled revenue growth, profit margins, and a lower future P/E multiple. Analyst Commentary Recent Street research around Ero Copper shows a mix of optimism on upside potential and some caution around execution and sector risks.
LUN
CA$31.33
Lundin Mining
7D
-1.8%
1Y
168.7%

LUN: Future Returns Will Reflect Copper Exposure And Caserones Expansion

The analyst price target for Lundin Mining is now CA$38.54, up from CA$37.25. This change reflects a series of recent target revisions as analysts factor in updated growth, margin and P/E assumptions.
III
CA$7.29
Imperial Metals
7D
-2.4%
1Y
162.2%
FDY
CA$3.74
Faraday Copper
7D
-0.3%
1Y
356.1%
CS
CA$9.67
Capstone Copper
7D
-3.1%
1Y
30.5%

CS: Later Mantoverde Inflection Will Support Future Margin Upside Potential

Capstone Copper's updated narrative reflects a modest reset in analyst expectations, with recent Street research trimming individual price targets into a CA$15.50 to CA$19.00 range as analysts factor in lower projected revenue growth, higher discount rates, and a later production and cost inflection tied to Mantoverde, while still assuming stronger profit margins and a lower future P/E multiple. Analyst Commentary Recent research on Capstone Copper reflects a more cautious tone, with several bearish analysts trimming price targets and rethinking how much execution risk and timing risk to build into their models.
MARI
CA$7.82
Marimaca Copper
7D
-4.6%
1Y
49.8%
CCI
CA$0.55
Canadian Copper
7D
-6.8%
1Y
205.6%
CUU
CA$0.58
Copper Fox Metals
7D
7.4%
1Y
118.9%
ASCU
CA$6.40
Arizona Sonoran Copper
7D
1.9%
1Y
183.2%
SURG
CA$0.54
Surge Copper
7D
8.0%
1Y
272.4%
ECU
CA$1.05
Element 29 Resources
7D
-4.5%
1Y
191.7%
FMT
CA$10.00
Fuerte Metals
7D
11.9%
1Y
1,182.1%
LEO
CA$0.41
Lion Copper and Gold
7D
-8.0%
1Y
224.0%