Copper Stocks Under Pressure: Are These 3 ASX Shares Buys?

The following three ASX copper stocks are worth buying after the recent sell-off since they offer exposure to copper market and have their respective strengths and growth prospects.

1. Sandfire Resources Limited (ASX: SFR)

Sandfire Resources Limited (ASX: SFR) is a global copper producer with its headquarter in Perth, Western Australia. Its principal operating assets are MATSA Copper in Spain and Motheo Copper in Botswana.

The company has a market capitalisation of $9.07B with revenue of US$1.7B and an underlying EBITDA of US$867M. Its statutory profit was recorded at US$354M and it had a net cash of US$353M at the end of FY26. SFR also declared a fully franked final dividend of 35 cents per share which was their first dividend since 2022.

FY26 Operational and Financial Performance

FY26 was seen as a year of strong operational and financial performance as MATSA and Motheo delivered record group copper equivalent production of 154.2kt. During the year, the company continued the development of Kalkaroo Copper-Gold Project which is located in South Australia and has entered a pivotal partnership with Havilah Resources for the advancement of project.

FY27 Production Outlook

For FY27, Sandfire expects MATSA to deliver Copper Equivalent production between 89-99kt along with a further incremental increase in the planned processing rate to 4.7Mt. Furthermore, it expects Motheo to deliver between 61-67kt of Copper Equivalent Production.

2. Capstone Copper Corp (ASX: CSC)

Capstone Copper Corp (ASX: CSC) is an American focused copper mining company with its headquarter in Vancouver, Canada. The company has its operations in the United States, Mexico and Chile.

CSC has a market capitalisation of $11.18B with revenue of US$712M followed by adjusted EBITDA of US$358.3M and net income attributable to shareholders of US$98.5M for Q3FY26. Its free cash flow from operations increased from US$23.2M in Q3FY25 to US$63.7M in Q3FY26 reflecting an improvement in sustaining cash operating margins. Its realised copper price was up US$6.61/lb in Q3FY26 as compared to US$4.49/lb prior corresponding period.

Recent Corporate Developments

In August 2026, the company completed the acquisition of copper assets at the San Pietro copper-gold-iron-cobalt project for a total consideration of US$25M in Capstone shares. In September 2026, CSC announced that it has entered into a definitive agreement to sell its Cozamin mine to Luca Mining Corp. for up to US$385M in total consideration and the transaction is expected to close in Q4FY26.

FY27 Production Outlook

For FY27, Capstone expects copper cathode production to remain similar to 2026 based on current elevated sulphuric acid prices with flexibility to increase the production if sulphuric acid prices decline. The company has also entered into around 6,000 tonnes of zero cost copper collars for 2027 in order to ensure a margin on a portion of its highest cost copper cathode production.

3. Develop Global Limited (ASX: DVP)

Develop Global Limited (ASX: DVP) is actively developing its Copper-Zinc projects in the Pilbara region in Western Australia. It operates as a mine owner and mining services provider.

The company has a market capitalisation of $1.21B with revenue of $57.4M and $29.6M net operating cash flow followed by $146.9M received from customers during the quarter. It recorded a cash balance of $95.5M at 30 September 2026 and $504M of undrawn financing facilities.

Quarterly Operational Performance

During the quarter, concentrated sales comprised 3,663 tonnes of copper concentrate, 11,567 tonnes of zinc concentrate and 4,384 tonnes of lead/precious metals concentrate.

Develop Global reported strong results for September 2026 quarter by delivering record ore mining and processing at Woodlawn Copper-Zinc mine. Woodlawn mined more than 202,000t and plant throughput surged by 17% on the prior period. DVP started a $70M mining and crushing contract with MLG in order to undertake open-pit mining and ore crushing activities at the Pioneer Dome Lithium Project.

FY27 Outlook and Growth Prospects

For FY27, Mining Services revenue is expected to increase gradually towards the end of FY27as both Waihi and BP33 contracts transitions from ramp-up to steady-state contracted mining physicals. The revenue for FY27 is forecasted of $100M-$110M for its Mining Services. It will include a full year of production from the Woodlawn copper-zinc mine and the start of Lithium Direct Shipping Ore sales at the Pioneer Dome Lithium mine. It will also be a major construction year at Yitirrti copper-silver-zinc project while it remains in construction phase throughout FY27.

(Source: Company Announcements)