Copper Surge Is Seen Driving More European Mining Stock Gains

European mining stocks are on the verge of capping the best year since 2016. For bulls, another year of gains comes down to copper prices reaching new heights.

Citigroup Inc. mining analysts say Glencore Plc is their top pick for 2026, estimating a 15% rally over the next 12 months as the company works to increase copper production. At Oddo BHF, the view is that Rio Tinto Group has a “very compelling road map” in copper and should be able to expand iron ore output as its Simandou project in Guinea ramps up.