Should you buy this $8 billion ASX 200 copper stock amid surging global demand?

S&P/ASX 200 Index (ASX: XJO) copper stock Capstone Copper Corp (ASX: CSC) is storming higher today. 

Capstone Copper shares closed yesterday trading for $9.60. At the time of writing, shares are swapping hands for $10.25 apiece, up 6.8%.

For some context, the ASX 200 is up 0.6% at this same time.

Capstone Copper shares look to be catching some tailwinds today, with the copper price up 2% overnight to US$12,167 per tonne.

Despite coming under pressure following the outbreak of the Iran war on 28 February, the copper price is up more than 22% since this time last year amid strong global demand for the conductive metal and limited new supply growth.

The Capstone Copper share price has fallen more than 30% since the outset of hostilities in the Middle East, with the ASX 200 copper stock now up 7% over 12 months. This sees the company currently commanding a market cap of around $7.9 billion.

Which brings us back to our headline question.

Should you buy this ASX 200 copper stock today?

Copper’s non-corrosive properties see it widely used in areas such as plumbing. While the red metal’s conductive nature has seen strong demand growth in recent years amid the world’s push towards electrification. 

Commenting on global trends that could support Capstone Copper shares over the long run, Medallion Financial Group’s Philippe Bui said (courtesy of The Bull):

The company provides exposure to one of the strongest long term commodity themes – increasing copper demand driven by electrification, energy transition and global infrastructure investment.

And Bui noted that the ASX 200 copper stock has strong growth potential. He said:

The company produces about 200,000 tonnes of copper equivalent annually, and has a pipeline of expansion projects capable of materially increasing production over time. With copper supplies expected to tighten structurally in coming years, Capstone is well positioned to benefit from higher long-term prices.

Connecting the dots, Bui issued a hold recommendation on Capstone Copper shares.

He concluded:

While capital expenditure remains elevated during the expansion phase, the growth outlook is compelling. Investors already positioned in the stock should continue to hold exposure to what we regard as an appealing long term copper growth story.

What’s the latest from Capstone Copper shares?

The ASX 200 copper stock reported its fourth quarter and full calendar year 2025 results on 3 March.

Highlights for the full year included a 47.5% increase in revenue from 2024 to $2.36 billion.

And earnings before interest, taxes, depreciation and amortisation (EBITDA) of $953 million were up 92% year on year. 

“2025 was an inflection point for Capstone, representing tangible delivery on peer leading growth with our copper production up 22%,” Capstone CEO Cashel Meagher said on the day.

The post Should you buy this $8 billion ASX 200 copper stock amid surging global demand? appeared first on The Motley Fool Australia.

More reading

• Buy, hold, sell: Copper, gold, and lithium ASX stocks
• Morgans names 3 ASX mining stocks to buy
• Top brokers name 3 ASX shares to buy today
• Three stocks to buy for double-digit returns, according to Macquarie
• Why Capstone Copper, Life360, Neuren, and St George Mining shares are falling today

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.