Cummings has scored 14 goals in 20 games in all competitions for Hibs this season, and has become one of the most talked about players in Scottish football.
Derby do not have it all their own way in the chase for the 20-year-old. The Daily Record reported last month that promotion rivals Brighton and Hove Albion are interest, along with Cardiff City, Fulham, and Premier League side Bournemouth.
Cummings is an under-21 international, but his form has meant a senior call up for Scotland is unlikely to be far away.
The forward is taking the interest in his stride. Scottish based Deadline News reporting him responding to interest earlier this week: "It’s a massive compliment for me. If anything it just makes me more confident and makes me play better."
Derby are currently third in the Championship, and their position and ambition could make them an attractive proposition if he was tempted to move.
The Rams' top scorer is currently Chris Martin with eight goals, but after him, no player has netted more than three times this season, and the club need further options to chip in.
This will prevent them becoming too reliant on Martin, make them more unpredictable, and ensure their promotion challenge will not be stunted by an injury to the striker.