Copper, which had been on a correction path ever since US government’s investigation into copper imports disrupted its market, has been gaining momentum lately. Its price rose 1.86% in last month alone, while being 13.23% up as compared to the same time last year.
The best ASX copper stocks to jump on the bandwagon now are
Sandfire Resources (ASX: SFR)
financial year 2025 results has highlighted a strong operational and financial performance with 152.4kt CuEq production which was up by 12% from FY24 and in line with guidance. Sales revenue increased by 26% to reach $1,176M. Underlying EBITDA rose by 46% to $528M with a 45% margin. The company also reported statutory profit after tax was $90M which was a significant turnaround from a loss in FY24. Net debt was reduced by 69% to $123M due to strong cash flow. Operating costs were $78/t at MATSA (up 8%) and $40/t at Motheo (down 4%). FY26 guidance targets a slight production increase to 157kt CuEq with modest cost rises amid inflation and continued capital discipline.
Capstone Copper (ASX: CSC)
Q2 2025 results highlight a record copper production of 57,416 tonnes at reduced C1 cash costs of $2.45/lb. Sulphide copper production surged 55% which was driven by the new Mantoverde sulphide concentrator and a higher throughput at Mantos Blancos. Net income attributable to shareholders was $24 million with adjusted EBITDA reaching a quarterly record of $215.6 million. Operating cash flow before working capital changes was $212.4 million. Net debt decreased to $692 million with total liquidity of $1.1 billion. The company received the environmental permit for the Mantoverde Optimized expansion which is set to increase throughput and extend mine life. Full year 2025 guidance reaffirms production of 220,000 to 255,000 tonnes and C1 cash costs $2.20-$2.50/lb.
Carnaby Resources (ASX: CNB)
has completed the acquisition of the Trekelano Mining Leases and has integrated this into the Greater Duchess Copper Gold Project in Queensland. The company is targeting its Pre-Feasibility Study (PFS) completion in H2 2025. The Greater Duchess Project holds a Mineral Resource Estimate of 27Mt @ 1.5% CuEq for 400kt CuEq including deposits like Mount Hope, Nil Desperandum, Lady Fanny and Trekelano. Recent drilling at Trekelano and Mount Hope yielded strong assay results with significant copper and gold grades supporting potential resource expansion and future development. The company maintains a strong cash position of $15.8M as of 30 June 2025 with no significant mining production this quarter and ongoing exploration and evaluation expenditures.
MAC Copper Limited (ASX: MAC)
has reported its first half 2025 production of 19,231 tonnes copper at an average grade of 4.3%. Revenue fell by 10% to reach $163M due to lower sales volume but C1 cash cost dropped by 19% to $1.67/lb and operating cash flow rose by 19% to $65M. The net loss after tax improved to $77M from $102M in HY24 which was helped by cost reductions and operational improvements. As of 30 June, cash was reported at $102M with pro forma liquidity of $196M after refinancing. Progress continued on growth projects with Merrin Mine and ventilation upgrades targeting >50ktpa copper production by 2026.
first half 2025 results show a strong operational and financial turnaround. Revenue was reported to be up by 12% to reach $271 million and cost of sales was down by 10% to $231 million compared to HY24. EBITDA rebounded to $113 million (from $5 million) which was aided by $54 million in insurance proceeds. Company reported net profit after tax of $35 million compared to a $109 million loss in HY24. Operating cash flows improved to $26 million and debt was reduced by $59 million to $203 million. Golden Grove saw strong zinc output (up 9kt) while copper output dropped to 9.7kt (from 12.2kt). Liquidity at period end was at $202 million thus positioning the company for continued investment and operational efficiency.
(Source: Company Announcements)
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