Top ASX material stocks right now

The following three are among the best ASX Materials Stocks right now as they have delivered strong operational results, advanced major growth projects and continue to benefit from favourable long-term commodity trends.

Capstone Copper Corp. (ASX: CSC) 

is one of the Top ASX Materials Stocks right now supported by strong copper prices and current market capitalisation of approximately $14.86 billion while price/earnings ratio is around 20.
The company in the first quarter of 2026 reported revenue of US$652.5 million which was up 22% year-over-year while net income attributable to shareholders rose to US$102.5 million from a loss of US$6.8 million in the prior corresponding period.

Copper production fell 11% year-over-year to 47,960 tonnes mainly because of a temporary strike at the Mantoverde operation yet the company maintained its full-year production guidance of 200,000 to 230,000 tonnes.

The company was in a stronger position with net debt reduced to US$737.5 million and available liquidity above US$1 billion which provides significant flexibility to advance major growth projects and exploration programs.

Copper is in a long-term structural bull market and multiple district-wide expansion opportunities are expected to support long-term production growth which has positioned Capstone Copper to benefit from strong global copper demand due to electrification and AI infrastructure development.

South32 Limited (ASX: S32) 

is a solid ASX Materials Stock with a diversified portfolio of assets and a market capitalisation of approximately $20.35 billion while current annual fully franked dividend yield is 2.08%.
The company generated US$121 million of net cash in the March 2026 quarter even after investing US$158 million into growth projects.

Operational performance was strong across several key assets compared with the prior corresponding period as Brazil Alumina production increased 5% to a record 1.06 million tonnes, Brazil Aluminium production rose 7% and Hillside Aluminium operated near its maximum technical capacity.

South32 maintained production guidance despite weather disruptions and flooding impacts across almost all operations which reflected the resilience of its business and support from favourable aluminium and base metal market conditions.

Another important development was progress at the Hermosa Project in Arizona where the Taylor zinc-lead-silver project has an expected mine life of approximately 33 years along with a post-tax net present value of around US$3.1 billion and forecast steady-state EBITDA of approximately US$650 million per year.

Fortescue Limited (ASX: FMG) 

is one of the Top ASX Materials Stocks right now due to its large-scale iron ore operations and market capitalisation is $63.44 billion while current annual fully franked dividend yield is 5.92%.
The company reported a strong March 2026 quarter as total iron ore shipments increased 5% year-over-year to 48.4 million tonnes which helped lift nine-month shipments to a record 148.7 million tonnes.

Total ore mined rose 7% year-over-year to 59.5 million tonnes despite weather-related disruptions while effective cost control reduced Hematite C1 costs by 4% quarter-over-quarter to US$18.29 per wet metric tonne.

Its balance sheet remained strong at quarter end with a cash balance of US$4.2 billion and the company has retained FY26 shipment guidance of 195 to 205 million tonnes.
Projects such as the Pilbara Green Grid, Green Metal Project, and major renewable energy developments provide additional avenues for long-term growth beyond the traditional iron ore business.

(Source: Company Announcements)