The Zacks Mining – Non Ferrous industry is currently facing challenges due to volatility in metal prices, weak demand, and tariff uncertainties. Production costs are inflating, and skilled labor shortages are affecting efficiency. Key metals like copper and uranium are experiencing fluctuating prices; copper fell 22% in late July to around $4.55 per pound, while uranium is currently at $73.5 per pound, marking a 5.36% decline year-over-year. Conversely, gold and silver prices have surged by 30% and 35%, respectively, year-to-date.
Prominent companies in the sector include Southern Copper Corporation, Freeport-McMoRan, First Quantum Minerals, Coeur Mining, and Centrus Energy, all of which are focusing on increasing reserves and implementing cost-control measures. Southern Copper produced 483,395 tons of copper in the first half of 2025 and plans a capital investment exceeding $10.3 billion in Peru. Freeport-McMoRan is targeting an annual output of 300 million pounds of copper by year-end and aims for 800 million pounds in the next 3-5 years. Coeur Mining reported a 79% year-over-year increase in silver production.
The Zacks Mining – Non Ferrous industry currently ranks #17 in the Zacks Industry Rank, placing it in the bottom 32% of 245 Zacks industries and highlighting the significant hurdles it faces in the near term. The industry has collectively lost 7.5% in stock value over the past year, contrasting with the Zacks Basic Materials sector and S&P 500, which gained 2.2% and 15.7%, respectively.
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