Copper Mining Stocks
Top 10 of 40 COPX holdings, updated
As of 12 October 2026, copper mining stocks are losing ground: still ahead of the S&P 500 over the longer run, but behind over the past month. COPX trails the S&P 500 by 5.7 points over one month and ranks #72 of 115 groups Zensei tracks. 3 of the 6 copper mining stocks Zensei prices in COPX beat the fund this month.
Where copper mining stocks stand now
As of 12 October 2026, Copper Miners (COPX) ranks #72 of the 115 groups Zensei tracks by one-month return against the S&P 500. It is losing its lead. It built a 17.1-point advantage over the S&P 500 across the longer, time-shifted window, but over the past month it has slipped 5.7 points behind the market — the Cooling quadrant of the rotation map.
On the shorter tape, COPX's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. COPX's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via Global X Copper Miners ETF, whose 40 tracked holdings are led by Hudbay Minerals Inc, Teck Resources Ltd and Southern Copper Corp. Weighted by portfolio, the fund's holdings trade at roughly 25.6× earnings. The thing to watch from here is whether this is a pause or a handoff: cooling groups sometimes reset and reclaim leadership, but a deepening one-month deficit usually means rotation has moved on.
Top copper mining stocks right now
The largest copper mining stocks by weight in COPX, and the strongest over the past month. Size and recent return are measurements, not recommendations.
Largest by fund weight
Share of COPX
- 1Hudbay Minerals Inc5.8%
- 2Teck Resources Ltd5.5%
- 3Southern Copper CorpSCCO5.3%
- 4Bhp Group Ltd5.2%
- 5Freeport-Mcmoran IncFCX5.1%
Strongest this month
1-month return, holdings Zensei prices
- 1Southern Copper CorpSCCO+7.9%
- 2Ero Copper CorpERO+5.8%
- 3Freeport-Mcmoran IncFCX+3.1%
- 4Ivanhoe Electric IncIE−9.8%
- 5First Quantum Minerals LtdFQVLF−14.1%
Copper Mining Stocks vs the S&P 500
Over the week to 12 October 2026, COPX fell 1.2% while the S&P 500 rose 0.4%. COPX and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means COPX won that window.
Prices as of · computed from daily adjusted closes · how we measure
Copper Miners on the rotation map, against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window.
Are copper mining stocks expensive?
The price-to-earnings ratio of COPX as a whole: the total price of its holdings over their total earnings, weighted by share of the fund. Holdings that lose money are left out.
COPX holdings: the copper mining stocks inside
As of 12 October 2026, 3 of the 6 copper mining stocks Zensei prices in COPX beat the fund over the past month. 3 of them beat the S&P 500. The strongest is Southern Copper Corp (SCCO); the weakest is Collective Mining Ltd (CNL). Inside the fund, one or two outliers drive most of the move.
| # | Holding | Weight | 1M | 3M | vs fund 1M | Momentum | RS health |
|---|---|---|---|---|---|---|---|
| 1 | Hudbay Minerals Inc | 5.8% | — | — | No price data | ||
| 2 | Teck Resources Ltd | 5.5% | — | — | No price data | ||
| 3 | SCCOSouthern Copper Corp | 5.3% | +7.9% | +21.7% | +11.5 pts | Strong | Strong |
| 4 | Bhp Group Ltd | 5.2% | — | — | No price data | ||
| 5 | FCXFreeport-Mcmoran Inc | 5.1% | +3.1% | +22.5% | +6.8 pts | Strong | Strong |
| 6 | Glencore PLC | 4.8% | — | — | No price data | ||
| 7 | Antofagasta PLC | 4.8% | — | — | No price data | ||
| 8 | FQVLFFirst Quantum Minerals Ltd | 4.7% | −14.1% | +7.9% | −10.4 pts | Weak | — |
| 9 | Kghm Polska Miedz SA | 4.7% | — | — | No price data | ||
| 10 | Sumitomo Metal Mining Co Ltd | 4.3% | — | — | No price data | ||
All 40 COPX holdings by weight: Hudbay Minerals Inc 5.8%, Teck Resources Ltd 5.5%, Southern Copper Corp (SCCO) 5.3%, Bhp Group Ltd 5.2%, Freeport-Mcmoran Inc (FCX) 5.1%, Glencore PLC 4.8%, Antofagasta PLC 4.8%, First Quantum Minerals Ltd (FQVLF) 4.7%, Kghm Polska Miedz SA 4.7%, Sumitomo Metal Mining Co Ltd 4.3%, Boliden AB 4.2%, Zijin Mining Group Co Ltd 4.1%, Lundin Mining Corp 3.9%, Sandfire Resources Ltd 3.8%, Capstone Copper Corp 3.5%, Ivanhoe Mines Ltd 3.5%, China Gold International Resources Corp Ltd 3.5%, Aurubis AG 2.4%, Mmg Ltd 2.3%, Jiangxi Copper Co Ltd 2.3%, Mitsubishi Materials Corp 2.1%, Ero Copper Corp (ERO) 2.0%, Trekor Metals Ltd 1.7%, China Nonferrous Mining Corp Ltd 1.4%, Ngex Minerals Ltd 1.3%, Altius Minerals Corp 1.1%, Wanguo Gold Group Ltd 1.0%, Atalaya Mining Copper SA 0.9%, Ivanhoe Electric Inc (IE) 0.7%, Almasane Alkobra Mining Co 0.5%, Firefly Metals Ltd 0.4%, Amerigo Resources Ltd 0.4%, Faraday Copper Corp 0.4%, Nittetsu Mining Co Ltd 0.4%, Develop Global Ltd 0.4%, Osisko Metals Inc 0.4%, Northern Dynasty Minerals 0.4%, Solaris Resources Inc 0.4%, Collective Mining Ltd (CNL) 0.3%, Bellavista Resources Ltd 0.0%.
Copper Mining Stocks: common questions
What are the top 3 copper mining stocks?
As of 12 October 2026, the three largest copper mining stocks in COPX by fund weight are Hudbay Minerals Inc (5.8%), Teck Resources Ltd (5.5%) and Southern Copper Corp (SCCO) (5.3%). Fund weight shows size inside the fund, not a recommendation.
Which copper mining stocks are beating the sector?
As of 12 October 2026, 3 of the 6 copper mining stocks Zensei prices in COPX beat the fund over the past month. The strongest over the past month is Southern Copper Corp (SCCO). The list above shows every holding with its weight and returns.
Are copper mining stocks outperforming the S&P 500?
No. As of 12 October 2026, COPX trails the S&P 500 by 5.7 points over the past month.
Is it a good time to invest in copper mining stocks?
Zensei does not give investment advice, but it measures the trend. As of 12 October 2026, copper mining stocks are ahead of the S&P 500 over the longer window but behind over the past month, a fading lead. The rotation map and the read on this page show whether that trend is building or fading.
What is COPX?
COPX is Global X Copper Miners ETF. Zensei uses it to measure copper mining stocks against the S&P 500 (SPY).
What stocks does COPX own?
As of 12 October 2026, the largest of the 40 positions Zensei tracks in COPX are Hudbay Minerals Inc, Teck Resources Ltd, Southern Copper Corp, Bhp Group Ltd, Freeport-Mcmoran Inc. Each position measured against the fund, with momentum and relative strength, is part of Zensei Premium.
What quadrant is copper miners in right now?
As of 12 October 2026, copper miners is in the Cooling quadrant — still ahead over the longer window, but behind the market over the past month. The Zensei methodology page explains the quadrants.
Recent changes
- ·First tracked: losing ground
Related sectors
Track copper miners against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.