Below is a list of the most popular cobalt stocks. Cobalt was used for pottery, glass, and ceramic coloring for thousands of years. There was money to be made in that sector, but not as much as in the electric vehicle (EV) and smartphone sectors.
Cobalt is essential for producing electric batteries, charging them, and producing electric car parts and components. Demand and production have increased in the last decade, and there is no end in sight. However, most cobalt mines are in the Democratic Republic of Congo (DRC), where more than half of the world’s cobalt reserves lie.
Other significant deposits are in Russia, Indonesia, Cuba, and Australia. Most companies also mine copper, nickel (Cobalt’s byproducts), and other metals. As a result, very few public companies are pure-play cobalt stocks.
Much of the world’s cobalt comes from the DRC, which introduces political and ethical supply risks. Below, we will look at various ways to invest in Cobalt.
Best Cobalt Stocks 2026
| Symbol | Name |
|---|---|
| BHP | BHP Group |
| CMCLF | China Molybdenum |
| FCX | Freeport-McMoRan |
| GLNCY | Glencore ADR |
| VALE | Vale S.A. |
| WPM | Wheaton Precious Metals |
| TLO | Talon Metals |
| ARL | Ardea Resources |
The companies you see listed below mine cobalt and other metals. They aren’t all listed on the NYSE or NASDAQ, but you can still buy them on the OTC markets. Below are some of the most important companies by market cap. You can conduct additional research to find smaller companies. They come with more risk and volatility, but the potential rewards are greater.
BHP Group (NYSE: BHP)
We begin our cobalt stocks list with one of the world’s biggest mining companies. BHP, an Australian-based company, conducts mining operations in Australia, North America, and South America.
Furthermore, the company has oil operations in the U.S., Australia, Trinidad and Tobago, the U.K., and Algeria. Since copper and nickel are some of its most important operations, their by-product, Cobalt, also finds itself at the top.
BHP is generally profitable. Although mining earnings fluctuate pretty significantly. Shareholders have benefited from a very generous annual dividend yield. Mining is a cyclical industry, and BHP’s numbers aren’t sustainable. However, it remains a very solid stock in this industry.
Glencore ADR (OTCMKTS: GLNCY)
Next on the cobalt stocks list is Switzerland-based Glencore, the world’s leading producer of Cobalt, representing around 20% of the world’s cobalt output. The company operates mines in the DRC, Australia, and Canada, and its refinery is in Finland.
Other varieties of mines are located around the globe in 50 countries. You can buy Glencore’s stock on the OTC markets or the London Stock Exchange (LSE). Glencore has also been very profitable in the last decade.
Vale S.A. (NYSE: VALE)
Vale is one of Latin America’s biggest companies, and it is in Brazil. It’s a leader in producing iron ore, nickel, and copper. Additionally, it’s the world’s fourth-largest cobalt producer.
This metal is produced in its mine in Canada. Most of the metals produced by BHP are used for battery manufacturing.
Similar to other industry leaders, Vale has posted excellent profit numbers in the last decade. The company also has some of the best margins.
China Molybdenum (OTCMKTS: CMCLF)
Next on the cobalt stocks list is a global top-3 producer of Cobalt, the Chinese company China Molybdenum. Which country is the largest market for EVs? China is. The company operates mines in the DRC and China.
It is also the leading molybdenum miner used to strengthen steel and increase electrical conductivity. They are listed on the Shanghai Stock Exchange and the US OTCMKTS.
Freeport-McMoRan (NYSE: FCX)
Freeport-McMoran is another leader in the cobalt stocks industry. The American company possesses the largest cobalt mine in the world in the DRC. It is also a leading producer of copper, gold, and molybdenum.
However, the company’s numbers are well below its peers. Despite having a lot of potential, Freeport-McMoran trails its competitors.
Wheaton Precious Metals (NYSE: WPM)
We conclude this cobalt stocks section with Canada’s Wheaton Precious Metals. Like the other companies on this list, Wheaton doesn’t operate cobalt mines or refineries. Wheaton is a ”commodity streaming company’ that buys and sells various commodities.
For its cobalt business, Vale is the largest seller. However, it produces gold and silver in Mexico, Peru, Canada, the U.S., Brazil, and Sweden. Wheaton has been profitable yearly since 2009, but much less than BHP, Glencore, or Vale.
Cobalt Stocks ETFs
You don’t always choose an ETF covering the mining sector. You don’t want to invest in a single cobalt stock company. Since many companies mine copper and nickel, they will also have cobalt operations.
We begin this cobalt stocks ETF list with iShares ETF, which focuses on companies that extract and produce metals, precious metals, and minerals.
Among the top 10 holdings, we can find BHP (13.81%), Glencore (5.59%), Freeport McMoran (5.47%), and Vale (4.10%). More than half of the fund is invested in companies mining metals (47,22%) and copper (10.38%).
Furthermore, the companies that comprise this fund come mostly from Australia, the U.S., the UK, Canada, and Brazil. This ETF is well-diversified and offers a decent dividend if you want a one-stop ETF in the cobalt and mining sectors.
Amplify Lithium & Battery Technology (NYSEMKT: BATT)
Next on the list is an ETF invested in companies focused on the lithium-ion battery industry. As we know, EV companies rely on Cobalt for their batteries. The funding allocation for companies mining cobalt is 9%. This fund’s stop sector is electric vehicles (24%) and battery producers (20%).
The companies mostly come from China (29%), the U.S. (20%), and Australia (15%). Finally, there is a good distribution between large-cap stocks (76.58%), mid-cap (8.96%), and small-cap (14.46%). Smaller companies are much more volatile but can offer greater rewards.
Last on this list is ProShares’ “ETF, which focuses on companies mining battery metals. There are specific requirements for companies in this fund. Companies must have positive revenue from mining lithium, nickel, or Cobalt, and their market cap must be at least $100M.
The heaviest stock is Pilbara Minerals Ltd, which weighs only 4.36%. It is an interesting fund, but this sector has too much competition and risk.
Cobalt as a Commodity
If you want to invest in Cobalt while taking on more risk, you can join the ranks of many professionals and retail investors in the commodities market. However, this comes with more volatility, risk, and potential rewards. Before investing in commodities, take the necessary steps to educate yourself.
How do you invest in Cobalt as a commodity? You can purchase either futures contracts or options contracts with the CME Group. They established Cobalt Metal (Fastmarkets) Futures.
You can also purchase cobalt futures on the London Metal Exchange under the symbol CO. You can speculate on the price of a metric ton (M.T.) of Cobalt up to 15 months in the future. Be ready to win or lose a considerable sum of money.
ION ETF Performance (2026 YTD)
| Year | Performance | 2026 (YTD) | +2.9% |
|---|---|
| 2025 | +18.6% |
| 2024 | -7.5% |
| 2023 | -21.4% |
| 2022 | -13.9% |
Final Thoughts on Cobalt Stocks
To conclude, Cobalt is a multi-purpose metal needed for everyday life. Like many other sectors, you can invest directly in cobalt stocks, ETFs, or commodities. By 2030, the global cobalt market is expected to surpass $20B. It is a fast-growing sector that will experience increasing demand due to the increased popularity of EVs and the higher demand for rechargeable batteries. If you seize the best opportunity right now, your investment might be worth more in 2030. Please do not trade any of the securities on this cobalt stocks list unless you know how to trade.
Frequently Asked Questions
Cobalt stocks can be a good investment. Like with anything in the market, there is risk involved. But if you know the risks and the rewards outweigh them, your investment will be good.
Yes, there are a few Cobalt ETFs. For example, check out Vanguard ETF or any of the ones listed in our post above.
You can buy cobalt stock shares using your broker. Put in the ticker you want, and you can buy shares from there.
Cobalt is big in EVs, so Tesla buys cobalt and nickel for their batteries from Glencore.
