Copper prices are at their lowest levels in almost a year, but it could provide investors with a buying opportunity.
In another May report, Goldman Sachs gave copper prices 25% upside over the next 12 months, rising to $11,000 per ton.
Copper prices suffered a nearly 6% decline in May — on pace for the worst month in almost a year since June 2022, according to CNBC analysis.
But the market is currently in a "significant deficit" phase, said Goldman analysts.
Filo Mining , another Canadian miner, had the highest buy rating at 91%.
Persons:
Goldman Sachs, Goldman, It's, — CNBC's Michael Bloom
Organizations:
Wall Street, Citi, CNBC, CNBC Pro, Copper Miners, NGEx Minerals, Teck Resources, Filo Mining, United States Copper, Bloomberg
Locations:
China, U.S, Teck