Top 5 Copper Stocks List on the TSX That Soared in 2025

Copper prices swung sharply throughout 2025, caught between mounting recession worries and expansionary tariff policies. Yet by year’s end, market fundamentals took center stage as suppliers and buyers grappled with an anticipated supply squeeze heading into 2026. Production disruptions intensified this supply crunch—two of the planet’s largest operations, Ivanhoe Mines’ Kamoa-Kakula and Freeport-McMoRan’s Grasberg, both went offline due to seismic damage and material flooding. Concurrently, demand for copper surged dramatically, fueled by accelerating artificial intelligence buildouts and the worldwide transition to renewable energy. Against this backdrop, a select group of TSX-listed copper mining companies delivered exceptional returns. This copper stocks list examines the top five performers by 2025 gains, highlighting the winners in this dynamic market. Data reflects market conditions through late 2025, using TradingView’s screening tools and focusing only on firms with valuations exceeding C$50 million.

1. Imperial Metals: The Standout on the Copper Stocks List

Performance metrics: Gained 333.7% in 2025
Current valuation: C$1.4 billion
Trading price: C$7.98 per share

Imperial Metals operates mines across British Columbia and holds a significant 30% stake in the Red Chris copper asset, with Australia’s Newmont controlling the balance. The firm also owns Mount Polley and Huckleberry, the latter idled since 2016. The Mount Polley site, which resumed operations in June 2022, became the center of regulatory drama. A tailings facility expansion sparked a legal challenge from the Xatśūll First Nation in spring 2025, though British Columbia’s highest court ultimately sided with Imperial, dismissing the injunction request in August. A follow-up appeal was filed in September, yet the company retained permission to proceed with the raise and continued mining operations. The company secured permit amendments in late August, authorizing operational expansion and extended mine life at Mount Polley through additional pit and storage development.

During 2025’s first nine months, Red Chris delivered a 20% jump in copper output, reaching 67.51 million pounds compared to 56.37 million pounds in the corresponding 2024 period. The site also posted a 10% third-quarter increase to 20.9 million pounds. Imperial wrapped up its 2025 drilling campaign at Huckleberry in late November, with one borehole yielding 0.5% copper across 52.7 meters, plus a higher-grade 0.81% copper and 0.23 g/t gold interval spanning 22.6 meters. The stock climbed to C$7.95 by December, cementing its position atop this copper stocks list.

2. Meridian Mining: High-Potential Copper Stocks List Contender

Performance metrics: Gained 313.33% in 2025
Current valuation: C$656.72 million
Trading price: C$1.55 per share

Meridian Mining is advancing the Cabaçal copper-gold project in Brazil’s Mato Grosso region, covering 50 square kilometers with an 11-kilometer volcanogenic massive sulfide corridor containing gold, copper, and silver. The project’s prefeasibility study, released in March, outlined compelling economics: a post-tax net present value of US$984 million, a 61% internal rate of return, and a 17-month payback window. Mine life spans 10.6 years with total projected copper production of 169,647 metric tons. The measured and indicated copper resource totals 204,470 metric tons from 51.43 million metric tons of ore grading 0.4%.

Meridian engaged Ausenco Brazil in May to lead engineering work on a definitive feasibility study, targeting completion in the first half of 2026. The company’s extensive exploration drive culminated in October, when final drilling phases returned robust mineralization grades, including a 1.4% copper equivalent stretch over 27.5 meters and a 6.1% copper equivalent interval over 6.4 meters. These grades are set to inform resource and reserve upgrades in the definitive study. In a major political win, the State of Mato Grosso formally approved the preliminary license in early November, positioning Meridian to pursue the installation permit required for construction. The stock reached C$1.65 in early December, reflecting investor confidence in this copper stocks list entry.

3. St. Augustine Gold and Copper: Development-Stage Copper Stocks List Player

Performance metrics: Gained 300% in 2025
Current valuation: C$331.75 million
Trading price: C$0.32 per share

St. Augustine is zeroing in on the King-king copper-gold asset in the Philippines’ Davao de Oro province, composed of 184 mining claims. A pivotal deal struck in May with the National Development Corporation (Nadecor) gave St. Augustine full ownership of the milling rights subsidiary in exchange for C$9.02 million convertible into 185 million shares. The underlying exploration and development permits remain under a 40/40/20 joint venture structure involving St. Augustine, Nadecor, and Queensberry Mining.

The company wrapped up a debt-to-equity conversion with Queensberry Mining in June, transforming C$1.67 million of debt into 25.31 million shares at C$0.066 each, elevating Queensberry’s total holding to 52%. St. Augustine unveiled an updated feasibility study in late July premised on copper at US$4.30 per pound and gold at US$2,150 per ounce. The economics painted an attractive picture: an after-tax net present value of US$4.18 billion, a 34.2% internal rate of return, and a 1.9-year payback period. The six-phase development approach targets 31 years of operations, averaging 96,411 metric tons of payable copper and 185,828 ounces of gold annually, with heightened production in the first five years at 129,000 metric tons of copper and 330,000 ounces of gold.

By October, St. Augustine had engaged Stantec Consulting and Independent Mining Consultants to produce the definitive feasibility study, focusing on optimized processing—including chloride leaching for low-grade sulfides and increased throughput. The stock peaked at C$0.58 in late July, showcasing strong momentum within this copper stocks list.

4. Trilogy Metals: Alaska-Focused Copper Stocks List Performer

Performance metrics: Gained 269.23% in 2025
Current valuation: C$1.07 billion
Trading price: C$6.24 per share

Trilogy Metals is developing the Upper Kobuk mineral projects in Northern Alaska via a 50/50 partnership with South32. Its flagship Arctic project is in the feasibility phase, with an updated 2023 study forecasting annual payable production of 148.68 million pounds of copper, 172.6 million pounds of zinc, 25.75 million pounds of lead, 32,538 ounces of gold, and 2.77 million ounces of silver. The post-tax net present value stands at US$1.11 billion with a 22.8% internal rate of return and 3.1-year payback.

The Bornite copper-cobalt project, positioned 25 kilometers southwest of Arctic, harbors widespread mineralization with a long exploration pedigree. Its preliminary economic assessment established an after-tax net present value of US$393.9 million, a 20% internal rate of return, and a 4.4-year payback period. The resource estimate includes an inferred 6.53 billion pounds of copper at 1.42% average grade from 208.9 million metric tons of ore.

Both assets depend on the Ambler Access Road, a planned 211-kilometer industrial corridor through Alaska. A major catalyst arrived in October when the US Senate eliminated a land management restriction that had blocked the road’s environmental approval. That same month, Trilogy sealed a binding investment agreement with the US Department of Defense (DoD), which committed US$17.8 million for 8.22 million shares (10% stake) and warrants for a further 7.5%, exercisable after road completion. The DoD will also facilitate financing and expedite permitting via the FAST-41 process. By late October, the Alaska Industrial Development and Export Authority secured right-of-way permits from federal agencies, reinstating the authorizations needed to propel the project forward. The stock climbed to C$14.70 in mid-October, solidifying Trilogy’s ranking on this copper stocks list.

5. Northern Dynasty Minerals: Copper Stocks List Resurgence Story

Performance metrics: Gained 234.12% in 2025
Current valuation: C$1.53 billion
Trading price: C$2.84 per share

Northern Dynasty Minerals is pursuing the Pebble project, a massive copper-molybdenum-gold-silver deposit situated 200 miles southwest of Anchorage in Alaska’s Bristol Bay region. The company characterizes Pebble as “one of the greatest stores of mineral wealth ever discovered,” with measured and indicated copper reserves of 6.5 billion metric tons and an inferred 4.5 billion metric tons. Complementary resources include 1.26 million metric tons of molybdenum, 53.82 million ounces of gold, and 249.3 million ounces of silver.

The project has languished in limbo since 2020 when the US Environmental Protection Agency issued a veto during permitting, citing watershed damage concerns. The Supreme Court declined to hear the matter on procedural grounds in early 2024, pushing it back to lower courts. Throughout 2024, Northern Dynasty advanced its case in Alaska’s state court system.

The dynamics shifted dramatically in early 2025 when Trump’s executive order prioritized expedited approvals for domestic mineral production, designating copper as strategically vital. Northern Dynasty sought an EPA extension in February, later followed by additional delays in May and June. Negotiations stalled, forcing the company to file a motion for summary judgment in mid-July. In October, Northern Dynasty presented court arguments for vacating the veto, with company leadership expressing confidence in the case’s merits. An updated timeline issued in November acknowledged US government shutdown delays, with the Department of Justice required to file its opening brief by February 16, 2026, and plaintiffs responding by April 15, 2026. The company maintains that the timeline extension is excessive and prefers an EPA withdrawal.

The latest development came in December when industry associations—the National Mining Association, American Exploration and Mining Association, Alaska Mining Association, and US Chamber of Commerce—filed supporting briefs, underscoring the case’s national economic significance for copper supply security. The stock reached C$3.89 in mid-October, highlighting investor enthusiasm about this pivotal copper stocks list turnaround narrative.

Investment Outlook: Why Copper Stocks Matter

Copper’s trajectory through 2025 underscores why this copper stocks list commands investor attention. Demand tailwinds from AI infrastructure expansion and the energy transition show no signs of abating, while major production outages have tightened supply dynamics. The TSX copper stocks list represents diverse exposure—from advanced development like St. Augustine and Meridian to feasibility-stage projects like Trilogy and near-production assets like Imperial—each positioned to benefit from anticipated supply deficits and sustained demand strength. Investors evaluating this copper stocks list should conduct thorough due diligence, as market cycles and geopolitical shifts introduce inherent unpredictability.